The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-02-18

STATE OF LOUISIANA,

l JAMES a. d1hONEh, JULIUS Wells u. Il.
dents Of this city, who severally declared
That availing themselves Of the powers.
rights and privileges conferred by the sta
/ tutes Of the State Of Louisiana, relative
the o sSs1 ct =, q 3b..e
organize, constitute and found Corporation for
| the objects and purposes as shall hereafter be
enumerated and set forth; and to that end they
do hereby covenant and agree to form and con-
stitute and do, BY these presents form and con.
may hereafter become associated with them,
whether by subscription, purchase. transfer,
succession or otherwise, into . 'Body Cor.
porate," and hereunder bind themselves, and
al who may hereafter become associated with
lations obligations and regulations - articles OF
the charter Of said Corporation.
ARTICLE !.
The name and title OF said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that name shall have succession,
and have corporate existence for and during the
full term and period Of twenty-five (25) years
from the date OF the execution OF these presents,
unless sooner dissolved in the manner hereinafter
provided for; may sue and be sued, may hold
real and personal property, may make contracts,
may receive grants OF land or personal property,
and shall possess all the powers and privileges
law Of this State authorized to possess, and said
company may exerciseits corporate powers within
any other State Of the United States that shall
authorize the came.
ARTICLE II.
CAPITAL STOCK.
SEQ. l. The capital stock Of this corpora ton is
hereby fixed 1T THREE MILLION DOLLARS
rs. OO0. oOOj. represented BY THIRTY THOU
SAND SHARES Of ONE HUNDRED DOLLARS
($1OO) EACH, with the right to increase said
capital stock to TWELVE MILLION DOLLARS.
provided that said corporation shall be organized
shall constitute the Board Of Directors and shall
hold their Office, together with the following
named gentlemen, who shall be the officers Of
the Company until the second Wednesday in
President: HUGH Kennedy, Vice President;
8. b. KENNEDY, Treasurer. When one hum
dred and fifty thousand dollars ($150, 000) Of the
capital stock shall have been subscribed, the
Board of Directors are authorized to commence
the construction Of the road, and to carry out the
provisions of this charter; to enable them to do
this, subscriptions to the capital stock shall be
due and payable ~ herein provided for when
this amount has been subscribed.
SEC. 2. The time and manner OF payment for
stock shall be such as may be determined by the
Board Of Directors, provided, however, that no
call shall be made OF more than ten per cent no
per cent? on each share at any time, and thirty
days must elapse before another call can be
SEC. s. No stakeholder shsu be held liable ORE
sponsibe for the contracts and faults OF the COM
pany in any further sum than the unpaid balance
or balances due the company on shares owned by
him, nor shall any 1n1Ormalities IN Inc organlzar
ton have the effect Of annulling this Charter, or
Of exposing stakeholder to any liability beyond
the amount Of his stock subscription unpaid.
Sec 4. The domicile Of the company shall be
the city Of New Orleans, and citation shau be
served there on the President Of the company, or
Sol l.; oh on ha
Sec 5. The stock books shall pc kept at the
Office Of the Company, whence certificates OF stock
shall be issued to the subscribers, out no trans
fer Of stock shall be binding upon the company
until made upon it's stock books, ana no stock
certificate shall be issued except tor IuA pald
stock.
Sec 8. In the case Of failure on the part OF any
subscriber to pay the inetaliments on ns stock as
option, after thir days written notice to the
delinquent of FORGETTING his stock, or the amounts
previously paid thereon; and no stockholder
ehall have the right to vote while IN denuit
SEC. 7. All rules relative to the declaration OF
dividends or divisions OF profits, as well Is the
bylaws Of the Company, shall be made by the
Board Of Directors, but said rules and bylaws
shall be eubject to repeal, change or modifca-
ton by the holders Of majority OF the stock Of
the Company at their meeting.
ARTICLE III.
MI. ..;s .o,o,.snU ia amnovered and Author.
,. Lue 'ala COMPANY 40 o"Apo"o''~ '''1 "1''''--
'1G %.s+ III ,oc.te constrnct. Lease. own and use
E n5 ,1;tI o.,s ~ raora trecLs and sr;tahle
a ra.so W %' srch on.oa and constrnction and
..,a, c"nrso ~ yonte a. NAV he deemed
~ . ns;ar;tv Of the Directors of said companv
~ msJe "d;Srt hao;nn;nc AZ . noint IN The Ms.
1;ss;nn; River a. Rev Orleans. or between New
nd The rar;sh IT Tharvilla on the richt
U.lIans s ~ IL M;sss;rn; snd Rstnn Isonoa IN 9ha
, Daak h ., Inc ~ froro e~ Orleans or Rerwcks
1e.. DlnH u,o;ii;onv;ile u he nsrish If Tafsv.
Day' VIZ nn1osa i, ,ta r.r;s ~ s. renJry
cue anu ~ ss;d no;nta Or from snv no;si
-: 4h iye;ts "Sth;s STATE And Innn;no thanca
Mtmn me !. ~ sa o;t "s shravanorte w the
towaIes anL w n.Ha =, ~ a. ~ ~ rer.s IN
nSh - dreoon and route or routes as said company
shaA M, ana WIN SUCH 0onnec~ a ~ %ao,ad
tne n.sse " s"ul'ls -1>s - NooA'o'
pr00Pea. NJ roo... .or.,,rc. ,o.Aa owr main.
necono-1o .a;s.s. a. "a .r,oLs
tam anu use er tha D;ractors of aid comnanv NAV
f-nr, t;n;a n time deem nroper and exnedient
ana Ior ele a .ha ~ o1 ~ -o"t-otad
70 Use 1erc;sa - this nrveca to the state of