The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-02-12
CHARTER.
STATE OF LOUISIANA.

CHARTER.
STATE OF LOUISIANA,
PARfsH OF ORLEANS, CRY OF NEW ORIEANs't
BE tt KNOWN, That on this twenty-nintn
day Of the month of June, in the year OF oui
Lord one thousand eight hundred and seventy"
five, and Of the United States OF America Inc
Before me. john G. ErsTfs, Notary Pub.
Lie, in and for this CITY, and parish OF orleans,
State of Louisiana, duly commissioned and quail
fed, and in the presence of the Witnesses hege'
matter named and undersigned: =, . g.,
Personally Sa%s an9 sRPeaTFHH H KES Il
JOHN PHELPS, JOHN d. KENNARD, CYRUS
BUSSEY, GEORGE JONAS, W. B. SCHMlDT,
JAMES A. GIRDNER, JULIUS WElS,, +. L.
RANLETT and DAVID WALLACE, an Sesi-
dents of this city, who severally declared
rights and privileges conferred by the sta
tutes Of the State Of Louisiana, relative
to the Organization Of COrporations In
thi- State, they do, by these presents, form,
organize, constitute and found q Corporation Tor
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-
stitute themselves, and all such other persons as
may hereafter become associated with them,
whether by subscription, purchase. transfer.
succession or otherwise, into 'sBody Cor
porate," and Hereunder bind themselves, and
all who may hereafter become associated with
them, to be governed by the following stipu--
ations, Obligations and regulations as articles OF
the charter OF said Corporation.
ARTICLE I.
NAME.
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,
aud shall possessall tie powers and privileges
which corporations are or may be by any. general
law CT this State authorized to possess, and said
company may exercise its corporate powers within
any othey State of the United States that shall
authorize the same.
ARTICLE II.
CAPITAL STOCK,
SEC. Z. The capital stock Of this CORPORA ton is
hereby fixed at THREE MILLION DOLLARS
49, OOO, eOO), represented by THIRTY THOU.
SAND SHARES of ONE. HUNDRED DOLLARS
(s1OO) EACH, with the right to increase said
capital stock to TWELVE MILLION DOLLARS
provided that said corporation shall be organized
under the incorporators herein named, who
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;
s. H. KENNEDY. Treasurer. When one hun.
dred and fifty thousand dollars $3.50 O00) Of the
capital stock shall have been subscribed the
Board Of Directors are authorizedto commence
the construction Of the road, and to carry out the
provisions of this charter; to enable them 70 do
This, subscriptions to the capital stock shall be
due and payable as herein provided tor wlen
this amount has been subscribed.
SEC q The time and manner or payment for
stock shall be such as may be determined by the
call shall be made Of more than ten per cent 90
per Cent? ON each share at any time. and thirty
days must elapse before snotheS call sag be
made,
sponsible 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 informalties in the organize
ton have the effect of annulling this Charter or
Of exposing stakeholder to any liability beyond
Sec. 4. The domicile Of the company shall be
the CITY of New Orleans, and citation shall be
served there on the President OF the company, or
in his absence, on the Vice-Presidente
Sec s. The stock books shall be kept at the
office of the Company, whence certificates OF stock
shall be issued to the subscribers, but no transs
fer of stock shall be binding upon The Company
until made upon its stock books, and no stock
certificate shall be issued except for full paid
stock.
SEC 6. In the case of failure on the part Of any
subscriber to pay the installents on bis stock as
required, the Board of Directors shall have the
option, after thig days. written NOTICE to the
of forfeitng his stock, or the amounts
previously paid thereon; and no stakeholder
,hall have the right to vote while in default.
Sec. 7. All rules relative to the declaration of
dividends or divisions of profits, as well as the
bylaws of Accompany, ehall be made by the
Board of Directors, but said rules and bylaws
hall be subject to repeal, change or modifica-
ion by the holders Of majority OF the stock Of
he Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said Company is empowers and adshor'
zed:
railroad with one OF more tracks and suitable |
urnouts, of such guage and construction and |
pon such course or route as may be deemed |
y a majority of the Directors of said company
issippi River at New Orleans, or between New
)rleans and the parish OF Iberville, on the right
ank of the Mississippi, and Bston Rouge on the
eft bank or from New Orleans or Berwick's /
Saw via Vermillionville, in the parish OF Lafay- J
tie and Opelousas, in the parish Of St. Landry, |
r from any of said points, or from any point |
7ithin the limits fthis State, and running thence
owards and to the city Of Shreveport, or the /
ity Of Marshall Dallas in the State of Texas in
uch direction and route or routes as said company
hall fix, and with such connecting branches in !
Second-To locate. construct. lease own. MAIN