The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-02-01
CHARTER.
STATE OF LOUISIANA,


fed, and in the presence of the witnesses here
matter named and undersigned:
Personally came ana appeared, e; "; \; BAY
LEY, E. b. WHEELOCk, HUGH hSNNEDl
JOHN PHELPS, JOHN r.. KENNARD, CIRU;
JAMES A. GIRDNER, JULIUS WEIS,. E. L
RANIETT and DAVID WALLACE, all reel
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 Corporations, IN
| 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-
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,
| porate," and Hereunder bind themselves, and
| all who may hereafter become associated with
them, to be governed by the following stipu-
latons, obligations and regulations articles OF
| the charter OF said Corporation.
ARTICLE l.
The name and title OF said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that pane 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,
and 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 /. The capital stock of this corporation is
hereby fixed at THREE MILLION DOLLARS
(s3000000), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
(s109) 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 Wedn sday in
January, 1877: Officers, Z B. WHEELO X,
President; HUGH KENNEDY, Vice President;
s. H. KENNEDY, Treasurer. When one hun
bred and fifty Thousand dollars (s150, OO0) of the
capital stock shall have been subscribed, the
Board OF Directors are authorized to commence
the construction OF the roGd 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. 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 10
per cent? on each share at any time, aud thirty
days must elapse before another call can be
made.
SEC 3. No stakeholder shau be held liable or re-
sponsible for the contracts and faults OF the
pany in any further sum than the unpaid balance
or balances due the company on shares owned by
him, nor shall any iuformalities in The organza-
ton have the effect of annullng this Charter, or
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 OIL leans, aud 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 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 G. In the case of failure on the part Of any
subscriber to pay the intsllments on his stock az
required, the Board of Directors shall have the
option, after thir days written notice to the |
delinquent, of forfeitDg his stock, or the amounts
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, well as the |
bylaws of the Company, shall be made by the |
shall be subject to repeal, change or modifica- |
tion by the holders # majority of the stock of
the 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 |
urnouts, of such guage and construction and |
Upon such course or route may be deemed |
1y majority Of the Directors of said company
most expedient, beginning at a point on the Mis-
,issippi River at New Orleans, or between New
orleans and the parish of Iberville, on the right
,ank of the Mississippi, and Baton Rouge on the
eft bank or from New Orleans or Berwicks
Bay, via vermionville, in the parish OF Lafay-
,r from any Of said points, or from any point
within the limits of this State, and running thence
owards and to the city Of Shreveport, or the
y of Marshall or Dallas, in the State of Texas, in
uch direction and route or routes as ssid company
hall fix, and with such connecting branches in
he State OF Louisiana as may be deemed
roper. |
Second-To locate, construct, lease, own, main
ain ard use such branch railroads and tracks as
majority of the Directors of said company NAV
rom time to time deem proper and expedient
nd for the interest OF said company to own and
o use and lease, and they shall not be restricted
q the exercise of this privilege to the State of
+ uisiana, but may connect tpelr main line with
|
hall authorize the exercise of said privilege
Iithin their limits, and the said company shall
ave right to establish and maintain in the
ity of New Orleans proper freight and passen-
er depots and to connect them by tracks and
srries with the left bank Of the Mississippi River
t such point or points as may be deemed most
onvenient for the public interest, and to use in
UGH f. rries steamboats, and other vessels, and !
,r the purposes of such depots, tracks and fer !
es, may acquire property by appropriation.
bird FTf.o Gfot,i /
us State, and thereafter, to own, lease, main
lin and use suitable wharyes piers, ware hous. g.
ards, steamboats,, harbors, depots, stations. and
Their works and appurtenances con- ,ected with
nd incidental to said railway and it's connec-
ons, and to run and manage the same as the
irectors of the said Company may deem to be
ost expedient and to the welfare Of said corpo-
Ition.
Fourth-To take, transport, carry and convey
srsons and property upon its said railway and
3 boats BY power of steam or any other power,
I'd to receive for safekeeping and to store mer-
landise and property in its yards or warehouses,
I'd to receive for such transportation, safekeep-
e or storage such tolls and charges as may
ON time to time be established or authorized to |
oats hlished nv Directors of aad railroad cnp, |