The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-02-09
CHARTER.
STATE OF LOUISIANA,

/ L..
JAMES A. GIRDNER, JULIUS WEIS, E. l
RANTETT and DAVID WALLACE, all res
dents OF this city, who severally declared
That ayailing.. themselves OF the powers
rights and privileges conferred " Inc 90 90
to tie "Organization of Corporations, L
thi. State. they do, by these presents, form
Iorpanize, constitute and found q Corporation 10
the objects and purposes as snail Herea!ser %
enumerated and set forth; and to that end the.
do hereby covenant and agree to form and con
stitute and do, by these presents, form ana con
stitute themselves, and all such other persons
NAV here after become associated with them
whether by subscription, purchase, transfer
porate.n and Hereunder bind themselves, ant
all who may hereafter become associated VIII
| hem. TO be governed by the following stipu
lat:ons. obligations and regulations as articles
tie charter oil ssid CORPORATION.
| ARTICLE I.
| NAME.
| The name and title Of ssid corporation shall b
| the NEW ORLEANS PACIFIC RAILWAY COM
PANY. and by that pane shall have succession
and have corporate existence for and during tht
| full term and period OF twenty-five t2o) year.
from the date of tbs execution OF these presents
unless sooner dissolved in the manner hereinaftel
provided for; may sue and be sued, may hole
| real and personal property, may make contracts
NAV receive grants OF land or personal property
and shall possess al the powers and privileges
| which corporations are or may be by any genera
law CT this State authorized TO possess, and SALE
company may exerciseits corporate powers withir
any other State OF the United States that shal
authorize The same.
ARTICLE Ii.
CAPITAL STOCK.
SEC. /. The capital stock Of this corporation is
hereby fixed at THREE MILLION DOLLARS
(s3,oO0, 0O0), represented by THIRTY TaoU.
SAND SHARES of ONE HUNDRED DOLLARS
| (s1Oo) EACH, with the right to increase said
capital stock to TWELVE MILLION DOLLARS.
provided that said corporation shall be organized
under the inccrporators herein named, who
shall constitute the Board of Directors and sha!]
hold their Office, together with the following
named gentlemen, who shal be the officers OF
the Company until the second WEDNESDAY in
President: HUGH KENNEDY, Vice President;
S. II. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars (s15O, 0o0) of tho
capital stock snail 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, g The time and manner OF payment for
stock shall be such as may lie 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 elspse before another call can be
made.
SEC. 3, No stockholder chs u be held liable ORE
sponsible Tor the contracts aud faults OF the COM
pany in any further sum than the unpaid balance
or balances due the company Oh shares owned by
him, nor shall eny iufOrrnahties in the organiza-
ton have the effect Of snnulling 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 its 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 installments on his stock
required, the Board of Directors shall have the
delinquent, of forfeitng 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 modifca-
ton by the holders IF majority OF the stock Of
the Company st 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 che 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 ezpedient, beginning at point on the Mia
sissippi River at New Orleans, or between New
Orleans and the parish OF Ibervile, on the right
bank of the Mississippi, and Baton Rouge on the
left bank: or from New Orleans or Berwck's
Bay, via Vermi!ionville, in the parish OF 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 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
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
Louisiana, but may 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 tie
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
1t such point or points as may be deemed most
for the public interest, and to use in
such ferries steamboats, and other vessels. and
'or the purposes Of such depots, tracks and fer |
lies, may acquire property by appropriation.
Third-To construct, establish, or purchase in !
this State, and thereafter, to own, lease. main.
ain and use suitable wharves, piers, warehouses
Yards, steamboats,, harbors, depots stations, and
'ther works and appurtenances connected with |
md incidental to said railway and its connec- |
ions, and to run and manage the same as the |
Directors Of tie said Company may deem to be |
most expedient and to the welfare OF said corpo. |
alton.
Fourth-To take, transport, carry and convex |
,ersons and property upon its said railway and |
is boats, by power Of steam or any other power. |
nd to receive for sasekeeping and to store mer.
handise and property in it's yards or warehouses.
nd to receive for such transportation, safekeep,
ng or storage such tolls and charges as NAV
rom time to time be established or authorized ia
'e established by Directors OF said railroad com
amy.
To make advances Of money or credits mon
merchandise or property, for changes made by
Their tras sportatian lines to be transported Tnon
ts railways, steamboats, or vessels. or to be
tored in its yards or warehouses to such extent
nd upon such terms and conditions "a fhe Direc'