The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-01-26

CHARTER.
STATE OF LOUISlANl

Before me, JOHN G. EUsTIS, Notary Pub
lie, in and for this CITY, and parish OF Orleans,
State of Louisiana, duly commissioned and guam
fed, and in the presence OF the witnesses mere
matter named and undersigned:
LEY, E. B. WHEELOCK, HUGH KENNEDY,
JOHN PHELPS, JOHN Fl. KENNARD, CYRUS
BUSSEY, GEOEGE JONAS, W: b. SCHMIDT,
RANLETT and DAVID WALLACE, all resi-
dents of this city, who seyerally declared
That. avaiiing themselves of the powers,
rights and privileges conferred by the sta
tutes Of the State Of Louisiana, relative
to the Organization OF Corporations; or,, III
organize, constitute and found Corporation Tor
the objects and purposes as shall hereafter DC
enumerated and set forth; and to that end they
do hereby covenant and agree to form ahd COLI
stitute, and do, by these presents form ana con
may hereafter become associated with them'
whether by subscription, purchase. transfer
succession or otherwise, into BODY Oor
porate," and hereunder bind themselves, ana
all who may hereafter become associated Win
them, to be governed by the following stlpu..
ations obligations and regulations as artlcles VI
the charter OF ssid Corporation.
ARTICLE I.
NAME.
The name and title of said corporation shall pc
the NEW ORLEANS PACIFIC RAILWAY COM-
PANY, and by that Dame shall have succession,
and have corporate existence for ana during the
full term and period of twenty-five 60 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 hoio
real and personal property, may make contracts
may receive grants OF land or personal properly,
aud shall possess all tie powers and privileges
which corporations are or may be by any genera!
law OF this State authorized to posse ss, 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 1. The capitsI stock of this corporation is
hereby fixed at THREE MILLION DOLLAKS
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 incOrporators herein named, VINO
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, 9. B. WHEELO0K,
President: HUGH KENNEDY, Vice President;
s 81. KENNEDY. Treasurer. When one hun
dred aud fifty thousand dollars ($150,OC0) OF the
capital stock shall have been subscribed, the
Board of Directors authorized to commence
the construction Of the road, and to carry out the
prOVlSlOns OF tLlU CUdTteT, 70 cLdUlo tuCu " w
this, subscriptions to the capital stock shall be
due and payable as herein provided tor when
this amount has been subscribed.
SEC 2. The time and manner OF payment for
stock shall be such AZ may be determined by the
Board of Directors provided, however, that no
call shall 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. 8. No stockholder shall be held liable ORE
20, tfa of
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 Organiza-
ton have the effect OF annullng this Charter, or
of exposing a 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-PresidenJ.
SEC 5. The stock books shall be kept at the
Office of the Company, whence certificates CT stock
shall be issued to the subscribers but no trans
fer of stock shall be binding upon The Company
until made upon its 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
required, the Board of Directors shall have the
option, after thir days written notice to the
delinquent, OF forfeiting his stock, or the amounts
previously paid thereon; and no stockholder
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
bylaws Of the Company, shall be made by the
Board of Directors, but said rules and bylaws
shall be eubject to repeal, change or modifca
ton by the holders If ma jOrity of the stock of
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
lied:
First-To locate, construct, lease own and use
railroad with enc or more tracks and suitable
turnouts of such guage and construction and
upon such course or route as may be deemed
bv a majority Of the Directors of said company
most expedan1, beginning at point on the Mis-
sissippi River at New Orleans. or between New
bank of the Mississippi, and Baton Rouge on the
left bank or from New Orleans or Berwick's
Bay, via Vermilhonville, in the parish OF Lafay-
ette 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 Dallas in the State OF Texas, in
such direction ana route or routes as 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
from time to time deem proper and expedient
and for the interest OF sale. 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 the
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
at such point or points as may be deemed most
convenient for the public interest, and to use in
such ferries steamboats, and other vessels, and
for the purposes Of such depots, tracks ana fer
ries, may acquire property by appropriation
Third-To construct, establish, or purchase in
this State and thereafter, to own, lease MAIN
tain and use suitable wharves, piers, warehouse
yards, steamboats,. harbors, depots stations, and
other works and appurtenances connected with
and incidental to said railway and its connec-
tions, and to run and manage the same as the
Directors Of the said Company may deem to be
most expedient and to the welfare Of said corpo-
ration.
Fourth-To take, transport, carry and convey
persons and property upon it's said railway and
it's boats, by power Of steam or any other power,
and to receive for safekeeping and to store mer-
chandise and property in its yards or warehouses.