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

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1 Before me, JOHN G. EUsTIs, a Notary Pub
lie, in and for this CITY, and parish Of Orleans,
State Of Louisiana, duly commissioned and quail
/ fed, and in the presence OF the witnesses here
matter named and undersigned:
Personally came and appeared, G. W. r: BAY
LEY, E. B. WHEELOCK, HUGH KENNEDY,
JOHN PHELPS, JOHN d. KENNARD, CYRUS
JAMES A. GIRDNER, JULIUS WEIS, Z. l..
RANLETT and DAVID WALLACE, all resi-
dents Of this city, who severally declared
That, ayailins. themselves OF the powers
| rights and privileges conferred by the sta
tutes of the State Of Louisiana, relative
to the Reorganization OF Corporations" III
thi State, they dc, by these presents, form,
organize, constitute and found 3 Corporation for
| the objects and pI rposes as shall hereafter be
| 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.
NAME.
The name and title of said corporation shall be
PANY, and by that name shall have succession
and have corporate existence for and during the
| full term and period OF twenty-five (25) year,
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 contracts
may receive grants OF land or personal property,
aud shall possess all tie powers and privileges
which corporations are or may be by any genera
law of this State authorized to possess and sald
may DOWerS
any other State Of the United States that shall
authorize she same
ARTICLE II.
CAPITAL STOCK.
SEC. 1. The capital stock of this corporate ton il
hereby fixed at THREE MILLION DOLLARS
(ss,OOO,OOO), represe nted BY THIRTY THOU
(sl0O) 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, who
shall constitute the Board OF Directors and shall
hold their Office, together with the following
named gentlemen, who shall be the officers oil
the Company until the second Wednesday in
January, 1877: Officers, E. B. WHEELOOK,
Presidents; HUGH KENNEDY. Vice President
bred and fifty thousand dollars (s150, OO0) Of the
capital stock snail 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.
| SEC. 2. The time and manner OF payment for
stock shall be such as may be determined by the
| Board of Directors, provided, however, that NJ
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. g. No stakeholder shall be held liable or re-
uih 10 for he ia
pany in any further sum than the unpaid balance
or balances due the company on shares owned by
him, nor shall any infol malties in the orSaniza-
ton have the effect of annulling this Charter, or
@! exposing stockhO6er to any liability beyond
the amount OF his stock subscription unpaid.
SEC 4. The domcile of the company shall be
the city of New Orleans, and citation shall be
served there on the p esident OF the company, or
in his absence, on the Vice President.
SEC s. The stock b, oks 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 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 instalments on his stock as
required, the Board of Directors shall have the
option, after thir days written notice to the
delinquent of forte ting his stock or the amounts
previously paid IL ereon and no stakeholder
shall have the right to vote while in default.
SEC T. All rules relative to the declaration of
dividends or divisions of profits, as we'll 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 mOdifica-
ton by the holders Of 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, cons ruct, lease own and use
a railroad with one or more tracks and suitable
turnouts, of such guaee and construction and
upon such course or route as may be deemed
bv majority of the Directors Of said company
most expedienr, beginning at point on the Mis-
sissippi River at New Orleans, or between New
Orleans and the parish OF lbervllle, on the right
bank Of the Missisfip and Baton Rouge on the
left bank or from N; New orleans or Berweks
ette and Opelouss 8, in the parish of st. Landry,
or from any of said points, or from any point
within this limits Q! 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 quite 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 ranch railroads and tracks as
a majority of the Iirectors Of said company may
from time to time deem proper and expedient |
and for the intere st Of said company to own and |
to use and lease, aid they shall not be restricted
in the exercise of tbs privilege to the State of |
Louisiana, but NAV 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
al, II. 1
for the purposes # such depots, tracks and fer
ries, may acquire roperty by appropriation.
Third To const net, establish, or purchase in
this State, and IL GREATER, to own, lease, nsin-
tain and use suital le wbarves, piers, warehouse
yards, steamboats,, harbors, depots, stations. and
other works and appurtenances connected with
and incidental to said railway and it's connec-
tons, and to run and manage the same as the
Directors Of the sail Company may deem to be
most expedient and to the welfare Of said corpo-
.ation.
Fourth-To take, t. ansport, carry and convey
persons and propert upon its said railway and
is boats, by power of team or any other power,