The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-01-06

CHARTER.
STATE OF LOUISIANA,

STATE OF LOUISIANA, |
PARISH OF ORLEANS CRY OF NEW ORLEANS,
BE 1T KNOWN, That on this twenty-ninth
day Of the month Of June, in the year OF oul
Lord one thousand eight hundred and seventy
| five, and of the United States of America the
ninety ninth.
Before me, JOHN G. EUSIIS, 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 here
matter named and undersigned:
Personally came ana appeared, G. ". r: BAY
LEY, E. b. WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN b. KENNARD, CYRUS
BUSSEY, GEORGE JONAS, ". 3. SCHMIDT
JAMES "A. GIRDNER, JULIUS WEIS, Z. l.
RANLETT and DAVID WALLACE, all resi-
dents Of this city, who seyerally declared
| That, availing themselves OF the powers
rights and privileges conferred by the sta
tutes Of the State of Louisiana, relative
thi State, they do, by these presents, FORM
organize, constitute and found Corporation fo1
| the objects and purposes 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-
stitute themselves, and all such other persons as
may hereafter become associated with them,
| whether by subscription, purchase. transfer,
succession or otherwise, into a ''Boay Cor
porate," and Hereunder bind themselves, and
them, to be governed by the following stipu-
lations obligations and regulations articles Of
the charter oil 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 exi-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,
aud shall possess all tie 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
($3, 0OO 0O0), represented by THIRTY THOU-
SAND SHARES Of ONE HUNDRED DOLLARS
($1O0) 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
January, 1877; Q Officers, ? B. w WHPEEL0ck,
S. II. KENNEDY, Treasurer. When one hum
dred and fifty Thousand dollars $3.50 000) 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 as herein provided for when
this amount has been subscribed.
SEC. q 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 call can be
made.
SEC. 8. No stakeholder shall be held liable ORE
sponsible for the contracts and faults OF the COM
pany in any further sum than tine unpaid balance
or balances due the company on shares owned by
him, nor shall any informalities in the organiza-
ton have the effect of annulling this Charter,
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 shall be
served there on the President of the company, or
in his ABSENCE on the Vice President.
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 trans
fer of stock shall be binding upon he Company
until made upon it's 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 n-tallments on his stock as
required, the Board Of Directors shall have the
option, after thir days written notice to the
delinquent, Of forfeiting his stock, or the amounts
previously paid thereon; and no stakeholder
shall have the right to vote while in default.
SEC. z. All rules relative to the declaration of
dividends or divisions of profits, as well as the
bylaws Of the Company, shall be made by the
Board OF Directors, but said rules and bylaws
shall be subject to repeal, change or modlhca-
ton by the holders # q majority Of the stock OF
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
lied:
First-To locate, construct, lease, own and use
a railroad with one or more tracks and suitable
turnouts, of such guage and construction and
upon such course or route as may be deemed
by majority Of the Directors of said company
most expedent, beginning at point on the Mis-
sissippi River at New Orleans, or between New
Orleans and the parish OF Iberyille, on the right
bank Of the Mississippi, and Baton Rouge on the
left bank; or from New Orleans or Berwicks
Bav, via Vermiilionville, in the parish oil Lafay
cite, and Opelouras, in the parish of st. Landry,
or from any Of said points, or from any point
within the limits of this State and running thence
towards and to the city of Shreveport, or the
city of Marshall or Dallas, in the State OF Texas, in
such direction and route or routes as said company
shall fix, and with such connecting branches in
the State Of Louisiana as may be deemed
proper.
Second-To locate, construct, lease, own main
tain and use such branch railroads and tracks as
a majority Of the Directors of said company may
from time to time deem proper and expedient
and for the interest Of said company to own and
to use and lease and they shall not be restricted
in the exercise of this privilege to the State Of
Touisiana but NAV connect their main line with
any other line or lines in other States which
shall authorize the exercise of said privilege
within their limits and the said company shall
have right to establish and maintain in the
city Of New Orleans proper freight and passen..
ger depots, and to connect them by tracks and
ferries with the left bank of the Mississippi River
at such point or points, as may be deemed most
for the public interest, and to use in
such ferries steamboats, and other vessels, and
for the purposes Of such depots, tracks and fer
ries, may acquire property by appropriation.
Third-To construct. establish, or purchase in
this State, and thereafter, to own, lease, main
tain and use suitable wharves, piers, warehouses;
yards, steamboats,, harbors, depots, stations, and
other works and appurtenances con, ected with