The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-03-10

STATE OF LOUUfANA,

LEY, Il. b. WHEELOCk, HUGH KENNEDY
BUssEY, GEORGE JONAS, ". B. SCHMIDT
JAMES A. GIRDNER, JULIUS Wells, E. L
RANLETT and DAVID WALLACE, all resi-
dents of this city, who severally declared
That. availing themselves Of the powers
tutes of the State Of Louisiana, relative
to the Organization Of Corporations" i,
| thi; State, they do, by these presents, form
organize, constitute and found Corporation fol-
| the objects and purposes as shall hereafter bt
| 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 as articles Of
| the charter OF, said Corporation.
ARTICLE I.
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
provided for; may sue and be sued, may hold
may receive grants OF 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 posse S. and said
any other State of the United States that shall
authorize the same.
ARTICLE II.
CAPITAL STOCK.
Sec 1. The capital stock of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
Csc, ,000), represented by THIRTY THOU
SAND SHARES OF ONE HUNDRED DOLLARS
(s10O) EACH, with the right to increase said
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
January, 1877: Officers, E. B. WHEELOCK,
President: HUGH KENNEDY, Vice President;
s. II. KENNEDY, Treasurer. When one hum
bred and fifty thousand dollars ($150, 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 out the
provisions of THU 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.
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. g. No stakeholder shall 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 informalities in the erganiza-
ton have the effect of annuling 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 Orleans, and citation shall be
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. 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
delinquent, of forfeting his stock or the amounts
previously paid thereon; and no stakeholder
shall have the right to vote while in defsult
SEC. 7. All rules relative to the declaration of
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 Of a majority OF the stock of
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
Jed:
First-To locate, construct, lease, own and use
! railroad with one or more tracks and suitable
urnouts, of such gyfage and construction and
upon such q course or route as may be deemed
BY majority Of the Directors Of said company
most expedient, beginning, at point on the Mis-
nr1r hokv NJ.
Orleans and the parish of Ibervile, on the right
oank of the Mississippi, and Baton Rouge on the |
eft bank or from New Orleans or Berwick's |
Bay, via Vermillionville, in the parish OF Lafay-
stte, and Opelousas, in the parish OF st. Landry,
,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
;ity of Marshall or Dallas, in the State of Texas in
uch direction and route or routes as said company
hall fix and with such connecting branches in |
he State Of Louisiana as may be deemed |
proper.
Second-To locate, construct, lease, own, MAIN
ain and use such branch railroads and tracks as
majority of the Directors Of said company mag
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
ny other line or lines in other States which
hall authorize the exercise Of said privilege
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
erres with the left bank of the Mississippi River
t such point or points as may De deemed most
onvenent for the public interest, and to use in
UGH ferries steamboats, and other vessels, and
Or the purposes of such depots, tracks and 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
Their works and appurtenances connected with
nd incidental to said railway and its connec-
ions, and to run and manage the same as the
lost expedient and to the welfare OF said corpo.
alton.
Fourth-To take, transport, carry and convey
ersons and property upon its said railway and
nd to receive for safekeeping and to store mer
1andise and property in it's yards or Warehouses |