The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-03-07
CHARTER.
STATE OF LOUISIANA,

l STATE OF AOU1SlANAs
PARISH OF ORLEANS. CITY OF NEW ORLEANS
BE TT KNOWN, That on this twenty.mn n.
day Of the month Of June, in the year OF on
Lord one thousand eight hundred and seventy
five, and Of the United States OF America IN
Before me. JOHN G. EUs11s, 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 mere
matter named and undersigned:
Sa%s s9d aRPeaTed e Y; 4 RnY
BUsSEY, GEORGE JONAS, W. B. SCHMIDT
JAMES A. GIRDNER, JULIUS WEIS, E. L
RANLETT and DAVID WALLACE, all resi-
dents of this city, who seyerally declared
That, availing themselves Of the powers
tutes of the State OF Louisiana, relative
to the Reorganization Of Corporations" II
this State, they do, by these presents, form
organize, constitute and found Corporation fol
the objects and purposes as shall hereafter Dc
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 SIS
may hereafter become associated with them,
whether by SUBSCRIPTION, purchase transfer nas
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 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
| l. IL
real and personal property, may make contracts,
may receive grants or land or personal property,
aud 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 powerswithin
authorize the same.
ARTICLE II.
CAPITAL STOCK.
SEC. 1. The capital stock of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
(s3, 00O,000), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
(s100) 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: Officers, E. B. WHEELOcK,
President: HUGH KENNEDY, Vice President;
8. H. KENNEDY, Treasurer. When one hum
bred 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 a. herein provided for when
this amount has been subscribed.
Sec 2. The time and manner OF payment Tor
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
made.
Sec 8. No stakeholder shau be held liable ORE
spOnsible for the contracts and faults of the COM
paIy in any further sum than the unpaid balance
or balances due the company on shares owned by
ton have the effect of annnlling this Charter, or
OF exposing stakeholder to any liability beyond
the amount of his stock subscription unpaid.
Sec. A. 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.
SHC 3. The stock books shall be kept at the
Office OF the Company, whence certificates OF stock
shall be issued 70 the subscribers, but no trans
fer Of stock shall be binding upon the Company
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 installments on his stock as
required, the Board OF Directors shall have the
option, after thir y days written notice to the
delinquent, OF FORGETTING his stock, 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
dividends or divisions of profits, as well as the
Board Of Directors, but said rules and bylaws
shall be eubject to repeal, chsnge or modifica-
ton by the holders RI q majority Of the stock Of
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
ICED:
First-To locate, construct, lease, own and use
. railroad with one or more tracks AMI suitable
turnouts, OF such guage and construction and
upon such course or route as may bedeemed
by majority Of the Directors Of said company
most expedient, beginning at point on thu Mis- |
sissippi River at New Orleans, or between New
Orleans and the parish OF Iberville, on the light
bank of the Mississippi, and Baton Rouge on ihe |
left bank; or from New Orleans or Berwicks |
Bay, via Vermillionville, in the parish of Lafay-
cite, and Opelousas, 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
The State OF Louisiana as may be deemed |
proper.
Second-To locate, construct, lease, own, main |
1ain and use such branch railroads and tracks as
} majority OF the Directors of said company NAV |
rom time to time deem proper and expedient |
md for the interest Of said company to own and |
o use and lease and they shall not be restricted
n the exercise Of this privilege to the State of |
Louisiana, but may connect their main line with |
my other line or Lines in other States which |
hall authorize the exercise of said privilege
within their limits, and the said company shall |
nave . right to establish and maintain in the |
'ity Of New Orleans proper freight and passen-
ger depots, and to connect them By tracks and |
erries with the left bank Of the Mississippi River
It such point or points as may be deemed most
for the public interest, and to use in
uch ferries steamboats, and other vessels and
or the purposes Of such depots, tracks ana fer
les. may acquire property by appropriation.
Third-To construct, establish, or purchase in
his State, and thereafter, to own, lease, main
ain and use suitable wharves, piers, warehouses.
ards. steamboats,, harbors, depots, stations. and
ther works and appurtenances connected with
nd incidental to said railway and its connec-
ions, and to run and manage the same as the
Directors of the said Company may deem to be
nost expedient and to the welfare Of said corpo.