The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-02-04
CHARTER.
STATE OF LOUISIANA,
WOW IN OpyrArc GrTy or Nrw 0RrrANe

/
matter named and undersigned:
LEY, E. B. WHEELoGK, HUGH KENNEDY y,
JOHN PHELPS, JOHN 81. KENNARD, CYRUS
BUSSEY, GEORGE JONAS, W: b: SCHM!DT
JAMES A. GIRDNER, JULIUS WEBS, E. l.
| RANLETT and DAVID WALLACE, all resi-
| dents of this city, who severslly declared
That, availing themselves OF the powers
rights and privileges conferred by the sta
| tutes of the State OF Louisiana, relative
| thi State, they do, by these presents, form,
organize, constitute and found Corporation for
| 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 as
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
them, to be governed by the following stipu-
ations, obligations and regulations as articles OF
the charter oil said Corporation.
ARTICLE l.
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 exi-tence 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,
and 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 exercseits corporate powers within
any other State of the United States that shall
authorize the same
ARTICLE II.
CAPITAL STOCK.
SEQ. l. The captsl stock of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
(s3, ,OOO), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
($l00) 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 ednesday in
January, 1877 Officers, Z. B. WHEELOOK,
s. H. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars ($15O, 00O) of the
capital stock stall have been subscribed the
Board Of Directors are authorized TO commence
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. 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, aud thirty
days must elapse before another call can be
made.
SEC. 8. No stakeholder shau be held liable or re-
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 irformhlities in the organize
tion have the effect OF annulllng this Charter, Or
Of exposing stakeholder to any liability beyond
the amount of his stock subscription unpaid.
Sec. 4. The dOmicie 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 trans
Ter of stock shall be binding upon the Company
until made upon it's stock books, and no stock |
stock.
SEC. g. In the case of failure on the part of any
subscriber to pay the instalments on his stock "a
'equired, the Board of Directors shall have the |
option, after thir days written notice to the |
delinquent of fOrfeiting his stock or the amounts
hall have the right to vote while in default.
SEC. T. AL rules relative to the declaration of |
dividends or divisions of profits, as well as the |
,y-laws of the Company, shsl II be made by the |
hall be subject to repeal, change or modifcs-
ion by the holders f majority OF the stock OF |
he Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
zed:
First-To locate, construct, lease, own and use
railroad with che or more tracks and suitable |
urnouts, of such guage and construction and |
pom such a course or route as may be deemed
y majority of the Directors Of said company
lost expediSnt, beginning at point on the Mis-
issippi River at New Orleans or between New
'rleans and the parish OF Ibervile, on the right
1T bank or from New Orleans OF. Berwick's
lay, via Vermillionville, in the parish OF Lafay-
tie, and Opelouras, in the parish of st. Landry,
r from any Of said points, or from any point
ithin the limits of this State, and running the nee
owards and to the city of Shreveport. or the
ty of Marshall or Dallas, in the State of Texas, in
UGH direction and route or routes o. said company
hall fix and with such connecting branches in
ne State of Louisiana as may be deemed
roper.
Second-To locate, construct, lease, own, main.
lin and use such branch railroads and tracks as
majority of the Directors of said company may
nd for the interest of said company to own and |
use and lease, and they shall not be restricted
the exercise Of this privilege to the State of
ouisiana, but may connect their main line with
ny other Dne or Lines ID Otner states which
nall authorize the exercise Of said privilege
thin 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
,nvenient for the public interest, and to use in
,ch f. rries steamboats, and other vessels. and I
r the purposes Of such depote, tracks ana fer
es, may acquire property by appropriation.
Third-To construct, esta blish, or purchase in |
ls State and thereafter, to own, lease, main :
in and use suitable wharves, piers, warehouses s.
lrds, steamboats,, harbors, depots, stations and
id incidental to said railway and its connec-
DIS, and to run and manage the same as the
rectors Of the said Company may deem to be
ost expedient and to the welfare Of said corpo-
ton.
Fourth-To take, transport, carry and convey
rsons and property upon its said railway and
boats, BY power of steam or any other power,
d to receive for safekeeping and to store mer.
andise and property in its yards or warehouses.
d to receive for such transportation, safekeep-
2 or storage such tolls and charges as NAV
I'm time to time be established or authorized to
established by Directors of said railroad COM