New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-02-22
LAWS OF THE STATE OF LOUISIANA.
PUBLISHED BY AUTHORITY.

LAWS OF THE STATE Of LOUISIANA
PUBLISHED BY AUTHORITY.
AN ACT NO. '
To confirm the notarial charter of the Ne,
Orleans Pacific Railway Company, wit
amendments thereto; to extend the teri
of existence of said company, and TO COZ
fer thereon certain powers and franch'sef
WHEREAS, BY act passed before John
Eustie. notary, at the city of New orleans
June 90, 1875, and duly recorded, the NeV
Orleans Pacific Railway Company was dull.
organized under the general laws OF tn
State BY the following articles:
CHARTER.
STATE OF LOUISIANA.
Parish Of Orleans City Of New Orleans.
Be it known. that on this twenty -nintl
dsy of the month of June, in the year o
onr Lord one thousand eight hundred an(
seyenty-fiye, and Of the United States o
America the ninety ninth, before me, Joh1
G. Eustie, q notary public in and for THU
CITY and parish of Orleans, State Of Louisi
ana, duly commissioned and qualified, and
in presence of the witnesses herein
after named and undersigned, person
ally came and sppeaTHe aah e. Ksnne5v bay nGn
T.. d.
Phelps, j. H. Kennard, Cyrus Bussey.
George Jonas, w. B. Schmidt. James A.
Girdner julius Weiss. E. L. Ranlett and
David Wallace, all residents OF this city,
who severally declared that, awaiting
themselves of the powers, rights and privi-
leges conferred by the statutes of the State
of Louisiana relative to the organization of
corporations in this State, they DO. by these
presents, form. organize, constitute and
found corporation for the objects and pur-
poses as shall hereafter be enumerated and
set forth, and to that end they do hereby
covenant and agree to form and constitute
and do, by these presents, form and con-
stitute themselves. and all such other per-
sons as may hereafter become associated
with them, whether by subscription, pur-
chase, transfer, succession, or otherwise,
into q body corporate, and hereunder bind
themselves and all who may hereafter be-
come associated with them to be governed
by the following stipulations, obligations
aDd regulations as articles Of the charter of
sad corporation:
ARTICLE I.-NAME.
The name and title of said corporation
ebali be the New Orleans Pacific Railway
Con pany, and by that name shall have sue
ceesiOu and have corporate existence for
and during the full term and period of
TWENTY-FIVE wears from the date Of the exc
cution of these presents, unless sooner dis
solved in the manner hereinafter provided
for; may sue and be sued, may hold real
and personal property, may make contracts
property, and shall possess all the powers
and privileges which corporations arc or
may be, by any general law Of this State,
authorized to possess: aud said company
may exercise its corporate powers within
any State OF the United States that shall
authorize the same
ARTICLE H.-CAPITAL STOCK.
SECr1oN'l The capital stock of this cor
poratlon is hereby fixed at three million
dollars, represented by thirty thousand
shares of one hundred dollars 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 con- |
stitute 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 Wednes- |
day in January, 1877: Oficers-E. B.
Wheelock, president; Hugh Kennedy, vice |
president; S. H. Kennedy, treasurer. When |
one hundred and fifty thousand dollars 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 ca pital stock shall be due and payable |
rs herein provided for when this amount |
has been subscribed.
Sec 9. The time and manner OF payment |
for stock shall be such as may be determined |
bv the board of directors; provided, how |
ever, that no call shall be made Of more than |
ten per cent on each share at any time, and |
thirty days must elapse before another call
Can be made.
SEC. No stockholder shall be held lab BILE
or responsible for the contracts or faults of
the company in any further sum than the IN
paid balance or balances due the company
on shares owned by him, nor shall any in
fOrmslities in the organization have the
effect of annulling this charter, or of expos
ing q stakeholder to any liability beyond
the amount Of bis stock subscription unpaid.
SEC. 4. The dOmicile Of the company shall
be the city OF New Orleans, and citati shall
be served there on the president of the COM
pany, or in his absence on the vice presi-
dent.
Sec. 5. The stock books shall be kept at
the office of the company, whence cerif-
Gates of stock shall be issued to the subscri-
bers, but no transfer of stock shall be bind
ing upon the company until made upon it's
etock books, and no stock certificate shall
be issued except for full paid stock
Sec. 6. In case of failure on the part of
any subscriber to pay the iLstallments on
bis stock as required, the board of directors
shall have the option, after thirty DAYS
written notice to the delinquent, Of forfeit
ing bis stock, or the amount previously
paid thereon, and no stakeholder shall have |
the right to vote while in default.
Sec. 7. All rules relative to the declara-
lion OF dividends or divisions of profits, as |
we'll as the bylaws of the company, shall
be made by the board of directors, but said
rules and by laws shall be subject to repeal,
change or modification by the holders Of a
majority of the stock of the company at
heir meeting.
ARTICLE IH-GENERAL POWERS
The said company is empowered and au-
horized-
First-To locate, construct, lease, own
md use railroad, with one or more tracks
md suitable turnouts, of such gauge and
obstruction and upon such course or
oute as may be deemed by majority of
he directors of said company most expe.
lent, beginning at point on Mississippi
iyer at New Orleans, or between New Or
ans and the parish of Iberville on the
ieht bank of the Mississippi, and Baton
aenpe on the left bank, or from New Dr.
,ans OF Berwicks bay, via Vermilionvlle,
, the parish of Lafayette, and OpelOusas, {
, the parish Of st. Landry, or from any OF
I'D points, or from any pOint Wiuhln TUG
mits of this State, and running thence to-
ard and to the city of Shreveport or the
ty of Marshall or Dallas, in the State OF
eIas. in such direction and route or routes
said company shall fix, and with such
injecting bI anches in the State Of Louis
"a as may be deemed proper.
locate, construct, lease, own,
aintain and use such branch railroads :
d tracks ss q majority of the directors OF