The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-03-08

CHARTER.
sTATE OF LOUISIANl

LEY. II. b. WHEE ETC q HUGH KENNEDY
JOHN PHELPS, JOHN 81. KENNARD, CYRUS
BUSSEY, GEORGE JONAS, W. B. SCH midi
JAMES A. GIRDNER, JULIUS WEIS, e. l.
dents of this city, who severaly declared
That, availing themselves OF the powers
rights and privileges conferred by the sta
tufes of the State Of Louisiana, relative
to the Organization Of Corporations" IN
thi State they 90. by these presents, ior ~,
| the objects and purposes as shall hereafter De
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 COZ
stitute themselves, and all such other persons as
| may hereafter become associated with them,
whether by subscription, purchase, transfer
succession or otherwise, into q "Body Cor
porate," and hereunder bind themselves, and
all who may hereafter become associated with
| them, to be governed by the following. stlpu.
lations obligations and regulations as articles OF
the charter OF said Corporation.
ARTICLE I.
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 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 general
law CT this State authorized to possess, 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 l. The capital stock Of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
o0o represented oN 6y TaiRTT TAnH
(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, who
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, 2. B. WHEELOCK,
President; HUGH KENNEDY, Vice President;
s. II. KENNEDY, Treasurer. When one hum
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
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 no
call shall be made OF more than ten per cent 40
per cent? on each share at any time, and thirty
days must elapse before another call can be
made.
SEC. 8. No stakeholder shall 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 informalities in the srganiZa-
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
served there on the President Of the company, or
in his absence, on the vice-President.
Sec. S. 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 its stock books, and no stock
certificate shall be issued except for full paid
stock.
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 FORGETTING his stock, or the amounts
previously pale. thereon; and no stakeholder
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 subject to repeal, change or modifca.
.
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 one or more tracks and suitable
turnouts, of such guage and construction and
upon such course or route as may be deemed
by q majority of the Directors Of said company
most expedcnt, beginning at point on the Mis-
sissippi River at New Orleans, or between New
Orleans and the parish OF Iberville. on the right
left Haef bank "a, s' or o% New orleans or Berwcis
Bay, via vermillionville, in the parish OF 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.
tain and use such branch railroads and tracks as
q 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
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 a right to establish and maintain ia 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 suitable wharves, piers, warehouse g.
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
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