The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-02-19

CHARTER.
STATE OF LOUISIANA.
AZ ~ npyvAN Nysrv - NJ ~

01noty-nlnth.
. Before me, JOHN g. EUsTIs. Notary Pull
Lie. in and for this CITY. and parish Of Orlean
State Of Louisiana, duly commissioned and quail
fed, and in the presence Of the witnesses herr
matter named and undersigned:
FFersGna1ay S1%s ana sRPeaT1d a G. W B BA3
JOHN PHELPS, JOHN 81. KENNARD, CYRU
BUSSEY, GEORGE JONAS, W. B. SCHMIDT
JAMES ny 80 a; GIRDNER, JULIUS WEIS,. E. 1
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, relativ
to the Organization Of Corporations" il
Thu State, they do, BY these presents, form
organize, constitute and found Corporation TO
the objects and purposes as shall hereafter b,
enumerated and set forth; and to that end the,
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 al
may hereafter become associated with them
whether by subscription, purchase, transfer
| succession or otherwise, into "Body Cor
porate," and hereunder bind themselves, an6
all who may hereafter become associated will
them, to be governed by the following stpu
lations obligations and regulations as articles o.
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 Dame 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 sned, may hold
real and personal property, may make contracts,
may receive grants OF land or personal property,
and shall possess all tie powers and privileges
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. I. The captsJ stock of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
pr oSs r Ta!bfX ThHU
($10O) 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
named gentlemen, who shall be the officers Of
the Company until the second Wednesday in
January, 1877: Officers, e B. WHEELOCK,
President: HUGH KENNEDY, Vice President;
dred and fifty thousand dollars ($150, 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 Oh C0lU CudTL0T, TO enable tlem 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 M
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 stockholder shau be held liable or re-
40 fha
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 organiza-
ton have the effect Of annulling this Charter or
Of exposing stockholder to any liability beyond
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
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. g. In the case of failure on the part Of any
to pay the inetallments Ills stock as
required, the Board Of Directors shall have the |
option, after thir y days. written notice to the |
of FORGETTING his stock, the amounts
previously paid thereon; and no stakeholder l.
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
,hall be subject to repeal, change or modifca-
ion by the holders Of q majority Of the stock Of
he Company at their meeting.
ARTICLE LII.
GENERAL POWERS.
The said company is empowered and author
First-To locate, construct, lease, own and use
railroad with one or more tracks and suitable
of such guage and construction and
lpon such course or route as may be deemed
y majority of the Directors OF said company
aost expedicnt. beginning At point on the Mis-
issippi River at New Orleans, or between New
)rleans and the parish OF Ibervile, on the right
ank Of the Mississippi, and Baton Rouge on the
eft bank or from New Orleans or Berwick's
Say, via vermillionville, in the parish OF 1afay-
tie, and Opelousas, in the parish OF st. Landry,
'ithin 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 euch connecting branches in
he State OF Louisiana 40 may be deemed
roper.
Secopd-To locate, construct, lease. own. main.
lin and use such branch railroads and tracks as
majority Of the Directors Of said company may
ON time to time deem proper and expedient !:
-
use and lease, and they shall not be restricted
the exercise Of this privilege to the State of
ouisana, but may connect taeir main line with :
ny other line or lines in other States which o
hall 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 =
rres with the left bank of the Mississippi River
such point or points as may be deemed most G
,nvenient for the public interest. and to use in
lch ferries steamboats, and other vessels, and q
r the purposes Of such depots, tracks and ter. .
es, may acquire property by appropriation.
Third-To construct, establish, or purchase in
lis State, and thereafter, to own. lease, main :
in and use suitable wharves, piers, warehouses.
lrds, steamboats,. harbors, depots, stations. and
her works and appurtenances connected with .
I'd incidental to said railway and it's connect
ons, 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.
n. A. -