The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-03-23
CHARTER.
srATE or LOUISlAM,

= ,
RE IT KNOWN, That on this twenty-nintn
dev of the month of June, in the year OF QUIZ
.cyrd one thousand eight hundred and seventy
i've, and Of the United States OF Amer'oA tne
Be{91a me JOHN g. EUsTIs, Notary Pub
liz in and FOR this CITY, and parish OF Orleans
state of Louisiana, duly commissioned ana quan-
ded' and in the presence of the Witnesses here
matter named and undersigned; wp nav.
1E EslSG =. B. WHEELoGK, HUGH KENNEDY,
JOHN PHELPS, JOHN =. kENNAn a. y,1I1,M
BUSsEY, GEORGE JONAS, W: 3: SOHMiDT.
JAMES A. GIRDNER. JULIUS w MElS, 2, =. =.
dents Of this city, who severally declared
That. availing themselves OF the .poweIss
rights and privileges conferred by the sta
tutes of the State Of Louisiana, reiasivo
to the Organization OF o, Corpo samts form.
organize, constitute and found C0rporauon ZOE
the objects and purposes as shall hereafter 70
enumerated and set forth; and to that END thoy
do hereby covenant and agree to form ana con-
stitute, and do, by these presents, form and con-
stitute themselves, and all such other persons =
NAV here after become associated with Them
whether by subscription, purchase, transfer
succession or otherwise, into 'booy Oor,
norate." and Hereunder bind themselves, and
all who NAV hereafter become associated with
them. to be governed by the following stipu-
lations. obligations and regulations as articles OF
the charter OF said Corporation.
ARTICLE L
NAME.
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 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 herelnaIter
provided for; may sue and be sued, may hold
may receive grants or land or personal properly.
aud shall possess all the powers and privileges
which corporations are or may be by any genera!
law Of this State authorized 70 possess, anu $40
company may exerciseits corporate powers WITHIN
any other State of the United states tnat snAu
authorize the same.
ARTICLE II.
CAPITAL STOCK.
SEC, 1. The capital stock of this corpora ton is
hereby fixed at THREE MILLION DOLLAhS
lssoooooo represented By THIRTY Ta0S
($1OO) EACH, with the right to increase said
capitsl stock to TWELVE MILLION DOLLARS.
provided that said corporation shall be organized
under the incorpoyators herein named, who
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, B. WHEELOCK,
President; HUGH KENNEDf, wee Presidens;
10, IN,
bred and fifty thousand dollars ($15O, 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 thi0 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. q The tirle and manner OF payment ior'
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. 8. No stakeholder shau be held liable ORE
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 informaiities IN the srganiza-
ton have the effect of annuling this Charter, or
Of exposing stockholder 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. 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 the 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 stockas
required the Board of Directors shall have the
option, after thir days.. written notice to the
delinquent, of forfeitng his stock or the amounts
previously paid thereon; and no stockholder
shall have the right to vote while in default.
SEC. 7. AL 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 OF modiaoa:
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
ICED:
First-To locate, construct. lease, own and use
a railroad with one 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 e1psdien', beginning at point on the Mis-
Orleans and the parish OF Iberville. on the right
bank Of the Mississippi, and Baton Rouge on the
left bank; or from New Orleans or Berwick's
Bay, via Vermillionville, in the parish OF Latay-
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 tho
city of Marshall Dallas, in the State of Texas in
such direction and routeO routes as said company
shall fix, and with such connecting branches in
the State Of Louisiana Is may be deemed
proper.
Second-To locate, construct, lease, own, main
tain ana use 6ucn DTancn fa1lrOad6 en0 tracks -
a majority Of the Directors Of said company may
from time to time deem proper and expedient
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 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, warehouses.
yards steamboats,. harbors, depots, stations, and
other works and appurtenances connected with
and incidental to said railway and it's connec-