The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-03-24
CHARTER.
STATE OF LOUISIANA,


n' Before sI me, JOHN G. EUs11s, Notary Pub
lie, in and for this CITY, and parish OF Dreams,
State Of Louisiana, duly commissioned aud quail
6ed. and in the presence Of the Witnesses here
matter named and undersigned; NV
Personally came ana sRPeaEeda e VI Il RnY
h5a = PH r Ts. JOIN Remand REM cYRu
BUSSEY, GEORGE JONAS, ". B. SCHMIDT,
JAMES A. GIRDNER, JULIUS WEISS. e. 1.
RANLETT and DAVID WALLACE, al resi-
dents of this city, who severally declared
That, availing. themselves Of the powers,
rights and privileges conferred by the sta
tutes of the State OF Louisiana, relative
to the "Organization OF Corporations H.
thi State, they do, by these presents, FORM.
the objects and purposes as shall hereafter pc
enume rated and set forth; and to that end they
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 as"
NAV here after become associated with them,
whether by subscription, purchase. transfer,
succession or otherwise, into "body COR
porate." and hereunder bind themselves, and
ali who may 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 !.
NAME.
The name and title of said corporation shall be-
the NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that name shall nave 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
real and personal property, may MAKE connacts,s
aud shall possess all tie powers and prlvnegess
which corporations are or may be by any genera.
law Of this State authorized to possess, and eald
company may exercseits corporate powers within
III, 10 fho Init
authorize The same.
ARTICLE II.
CAPITAL STOCK.
Sec 1, The capital stock OF this corporation is
hereby fixed at THREE MILLION DOLLARS,
($3,OO0O OO), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
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 Z
the Company until the second Wednesday in
January, 1877: officers, 2. B. WHEELOcK,
President: HUGH KENNEDY. Vice President;
s. Il. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars ($15O,0o0) 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 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 be determined by the
call shall be made of more than ten per cent 10.
per cent? on each share at any time, and thirty
days must elapse before another call can be
made.
sponsble 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 organizes
ton have the effect of annulling this Charter,
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-
in his absence, on the Vice-President.
Sec. 5. The stock books shall be kept ct 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 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 stakeholder
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
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
lied:
First To locate, construct, lease, own and use
q 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 expedient, beginning at a 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 Berwickss
Bay, via vermillionville, in the parish oil Lafay
cite, 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 or Dallas, in the State of Texas in
such direction and 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 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
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 and fer
ries, may acquire property by appropriation.
Third-TO construct, establish, or purchase in.
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 its connec--
tons, 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
its boats, BY power Of steam or anv other mower