The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-01-27
STATE OF LOUISIANA,

| thlj state, tney 90, Dy tuese pIoeonoo, io' "a
| organize constitute and found Corporation to
| the objects and purposes as shall hereafter bt
| enumerated and set forth; and to that emu the!
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 a.
may hereafter become associated with them
whether by subscription, purchase. transfer
succession or otherwise, into a BODY Cor.
porate," and Hereunder bind themselves, ano
| all who may hereafter become associated VIII
| them, to be governed by the following stipu.
lations obligations and regulations as articles OF
the charter oil said Corporation.
ARTICLE l.
NAME.
The name and title of said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that lame shall have succession,
and have corporate ext tence for and during the
full term and period OF twenty-five (25l years
from the date of the execution OF these presents,
unless sooner dissolved IL 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 ell TIE powers and privileges
which corporations are or may be by any general
law OF this State authorized to possess, and said
company may exercised its corporate powers within
any other State OF tie United States that shall
authorize the same.
ARTICLE II.
CAPITAL STOCK.
SEQ. 1. The capital stock Of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
(S3,000,OO0), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
(s1C0) EACH, with the right to increase said
capital stock to TWELVE MILLION DOLLARS
provided that said corporation shall be organized
under the lncorporators herein named, who
shall constitute the Board Of Direct RS 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: Officers, z B. WHEELO K,
President; HUGH KENNEDY, Vice President;
8. H. KENNEDY, Treasurer. When one hum
dred and fiftv thousand dollars (Sl5O O0O) of the
capital stock shall have been subscribed. the
Board of Directors are authorized TO commence
the construction OF the road, and to carry ont the
provisions of THU charter; to enable them to do
this subscriptions to the capital stock shall be
due and payable herein provided for when
this amount has been subscribed.
SEC. 2. The time and manner OF payment for
stock shall be such may be determined by the
Board OF Directors, provided, however, that no
call sha ii be made of more than ten per cent 90
per cent? on each share at any time, and thirty
days must elapse before another call can be
made.
SEC g. No stakeholder shau be held liable or re-
sponsible for the contracts and faults OF the com
pany in any further sum than the unpaid balance
or balances due the company on shares owned by
him, nor shall any iaformalities in the organiza-
ton have the effect of annuliing this Charter or
of exposing stakeholder to any liability be yond
the amount OF his stock subscription unpaid.
SEC. 4. The domicile of the company shall be
the city of New CLEANS, and citation shall be
served there on the President OF the company, or
in his absence, on the Nlce-Pres!dent.
SEC. s. The stock books shah 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 s. In the case of failure on the part of any
to pay the ta!lrhents his stock as
required, the Board of Directors shall have the
option, after thr days written notice to the
of forfeiting his stock, or the amounts
previously paid thereon; and no stakeholder
hall 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
bylaws of the Company, shall be made by the
Board of Directors, but said rules and bylaws
hall be subject to repeal, change or modifca-
ion by the holders # a majority of the stock of
he 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 |
of such guage and construction and |
pom such course or route as may be deemed |
y majority of the Directors of said company
iost expedent, beginning at 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
1T bank; or from New Orleans or Berwjcks
Jaw, via Vermillionville, in the parish of Lafay-
tie. and Opelousas, in the parish of ST. Landry
r from any of said points, or from anv poipt
-ithin the limits of thus State andlupnine thence
,wards and to the city of Shreveport. or the
ty of Marshall or Dallas, in the State of Texas, in
nch direction and route or routes as said 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
lin and use such branch railroads and tracks So
majority Of the Directors of said company NAV
ON time to time deem proper and expedient
nd for the interest of said company to own and
, use and lease, and they shall not be restricted
the exercise of this privilege to the State of
ouisiana, but may connect tneir main line with
ny other line or lines in other States which |
Iall authorize the exercise of said privilege
thin their limits, and the said company shall
ave a right to establish and maintain in the
ty of New Orleans proper freight and passen-
r. deuOts and to connect them hv tracku op1 |