The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-01-05
CHARTER.
STATE OF LOUISIANA.
PARISH OF ORLEANS, CRY OF New ORLEANS,

VI
nc, IN and for this CITY, apd parish Of Orleans
: State of Louisiana, duly commissioned and qua Ii
fed, and in the presence of the witnesses here
matter named and undersigned:
LEY, E. B. WHEELOGK, HUGH KENNEDY
JOHN PHELPS, JOHN Fl. KENNARD, CYRUS
BUSsEY, GEORGE JONAS, W. B. SCHMIDT
JAMES A. GIRDNER, JULIUS WEIS, E. l.
RANLETT and DAVID WALLACE, all resi-
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
to the Reorganization of Corporatlons,' il
thi State, they do, by these presents, form
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-
stltute, and do, by these presents, form and con-
stitute themselves, ard all such other persons as
may here after become associated with them,
whether by subscription, purchase. transfer,
succession or otherwise, into a 'Body Cor
porate," and Hereunder bind themselves and
all who may hereafter become associated with
them, to be governed by the following stipu-
lations, obligations and regulations as articles Of
the charter OF said Corporation.
| ARTICLE 1.
| 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 exl-tence 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
which corporations are or may be by any general
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 same.
ARTICLE II.
CAPITAL STOCK.
Sec. l. The capital stock Of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
$1,000 ,OO0), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
($10O) EACH, with the right to increase said
| capital stock to TWELVE MILLION DOLLARS,
provided that said corporation shall be organized
under the mcorporators 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
January, 1877: Officers, z B. WHEELOCK,
President; HUGH KENNEDY, Vice President,
s. H. KENNEDY, Treasurer. When one hun
bred aud fifty thousand dollars (s15O, O0O) of the
capital stock shall have been subscribed, the
Board of Directors are authorized 10 commence
the construction OF the road, and to carry out the
provisions Of THU charter; to enable them to do
this, subscriptions to the capital stock shall be
due and payable as 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 40
per cent? on each share at any time, and thirty
days must elapse before another cali can be
made.
SEC g. No stakeholder ahal be held liable or re-
sponsible for the contracts aud 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 iufornalities in the organiza
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 donicile 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-President.
SEC. 5. The stock books shall be kept at the |
Office of the Company whence certificates Of stock
shall be issued to the subscribers, but trans.
fer OF stock shall be binding upon he Company
until made upon its stock books, and stock |
certificate shall be issued except for full paid |
stock.
SEC. g. In the case of failure on the part of any
to pay the iu-tallments on his stock as
required, the Board of Directors shall have the
option, after thlr days written notice to the
of FORGETTING his stock or the amounts
previously paid thereon; and no stakeholder
shall have the right to vote while in default.
Sec. 7. All rules relative to the declaration OF
or divisions of profits, as we'll as the
!
Board of Directors, but said rules and bylaws
shall be subject to repeal, change or modifica-
ton by the holders + q ma ority of the stock of
,he Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
Zed:
First-To locate, construct lease, own and use
railroad with one or more tracks and suitable
of such guage and construction and
lpon such a course or route as may be deemed
" majority of the Directors of said company
most expedlenr, beginning at point on the Mis-
esippi River at New Orleans or between New
orleans and the parish OF Ibervile. on the right
,ank Of the Mississippi, and Baton Rouge on the
eft bank; or from New Orleans or Berwick's
Bay, via Vermillionville, in the parish oil Lafay-
tte, and Opelousas, in the parish of st. Landry
" from any Of said points, or from any point
within the limits this State, and running thence
owards and to the city Of Shreveport, or the
ity Of Marshall or Dallas, in the State of Texas in
UGH direction nj route or routes as said company
hall fix, and with such connecting branches in
he State of Louisiana may be deemed
i oper.
Second--TO Locate construct, lease own, main
ain and use such branch railroads and tracks as
majority of the Directors of said COMPANY NAV z
rom time to time deem proper and expedent y
nd for the interest of sad company to own and 4
and lease, and they shall not be restricted {
the exercise OF THIS privilege to the State of q
|
ny other line or lines in other States which &
hall authorize the exercise of said privilege
vithin their limits, and the said company shall
ave right to establish and maintain in the
lty of New Orleans proper freight and passen-
or depots, and to connect them by tracks and a.
rres with the left bank of the Mississippi River Il
such point or points as may be deemed most CT
onvenient for the public interest, and to use in
lch f.rries steamboats, and other vessels, and n
" the purposes of such depots tracks ana fer 81
es, may acquire property by appropriation.
Third TO construct, establish, or purchase in
rs State, and thereafter, to own, lease MAIN :
in and use suitable wharves, piers, warehouse. 8.
ards, steamboats,, harbors, depots, stations and
her works and appurtenances corrected with
I'd incidental to said railway and its connec-
ons, and to run aud manage the same as the
irectors Of the said Company may deem to be
ost expedient and to the welfare Of said corpo-
ton.
Fourth-To take, transport, carry and convey
,rsons and property upon its said railway and
J boats, by power of steam or any other power,
ID to receive for safekeepng and to store mer-
an, 1isaa md rfxyr or5S OH |