The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-02-24
CHARTER.
STATE OF LOUISIANA,

Before me, JOHN G. EUSIIS, 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:
LEY, E. B. WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN b. KENNARD, CYRU!
BUSSEY, GEORGE JONAS, W. B. SCHMIDT
RANLETT and DAVID WALLACE, all 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" il
thi State, they do, by these presents, form
organize, constitute and found Corporation fol-
the objects and purposes 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 az
may hereafter become associated with them,
| whether by subscription, purchase, transfer
succession or otherwise, into '.Body Cor
porate," and hereunder bind themselves, and
all who may hereafter become associated with
lations obligations and regulations as articles Of
the charter OF said Corporation.
ARTICLE 1.
NAME.
The name and title of said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that name 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 the powers and privileges
which corporations are or may be by any general
law Of 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. /. The capital stock of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
o9o represented e%S By Thirty THoU;
(s1O0) 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 tho following
named gentlemen, who shall be the officers Of
the Company until the second Wednesday in
January, 1877: Officers, E. B. WHEELOOK,
President; HUGH KENNEDY, Vice President;
s. Fl. KENNEDY, Treasurer. When one hun
bred and fifty Thousand dollars $3.50 OOO) 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 thig 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 no
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.
SEC. 8. No stakeholder shau be held liable or re-
sponsible for the contracts aud faults of the COM
pany in any further sum than the unpaid balance
him, nor shall any informalities in the organiza-
ton have the effect of annulling 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
until made upon it's stock books, and no stock
certificate shall be issued except for full paid
stock.
SEC g. In the case Of failure on the part Of any
to pay the installments on his stock as
required, the Board of Directors shall have the
option after thir days written notice to the
of forfeitng his stock, the amounts
paid thereon; and no stakeholder
ahall have the right to vote while in default.
SEC. Z. All rules relative to the declaration Of
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- |
ion by the holders Of q majority Of the stock OF
he Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered ana author |
zed:
First-To locate, construct, lease, own and use |
railroad with one or more tracks and suitable |
urnouts, of such guage and construction and |
lpOn such a course or route as may be deemed |
y majority of the Directors of said company
issippi River at New Orleans, or between New
orleans and the parish of Iberville, on the right
,ank of the Mississippi, and Baton Rouge on the
eft bank; or from New Orleans or Berwick's
Bay, via vermillionville, in the parish Of Iafay-
r from any of said points, or from any point
within the limits Of this State, and running thence
owards and to the city OF Shreveport, or the
ity of Marshall or Dallas in the State Of Texas in
UGH direction and route or routes as said company
hall fix, and with such connecting branches in
he State Of Louisiana as may be deemed
roper.
Second-To locate, construct, lease, own, main
ain and use such branch railroads and tracks as
majority of the Directors Of said company may
rOm tlu6 W tlIuo uocu proper duu cApcUl6uG |
nd for the interest Of said company to own and
0 use and lease, and they shall not be restricted
i the exercise Of this privilege to the State Of
,ouisiana, but may connect their main line with
ny other line or lines in other States which
hall authorize the exercise Of said privilege
ithin their limits, and the said company shall
ave right to establish and maintain in the
ty of New Orleans proper freight and passen-
er depots, and to connect them by tracks and ;
,rries with the left bank of the Mississippi River
such point or points as may be deemed most {
onvenient for the public interest, and to use in
1ch ferries steamboats, and other vessels, and J
II the purposes Of such depots, tracks and fer
es, may acquire property.by appropriation
Third-To construct, establish, or purchase in
lls State, and thereafter, to own, lease, main :
in and use suitable wharves, piers, warehouses
ards, steamboats,, harbors, depots, stations, and
her works and appurtenances connected with
I'd incidental to said railway and it's connec-
ons, and to run and manage the same as the
irectors Of the said Company may deem to be
ost expedient and to the welfare Of said corpo-
ton.