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


thi State, they do, by these presents, form
organize constitute and found Corporation TO
the objects and purposes IS shall hereafter
enumerated and set forth; and to that end the
do hereby covenant and agree to form and con
atitute, and do, by these presents, form and con
stitute themselves, and all such other persons
may hereafter become associated with them
whether by subscription, purchase, transfer
succession or otherwise, into BODY Cor
poraie," and Hereunder bind themselves, AM
| all who may hereafter become associated witt
| them, to be governed by the following stipu
lations, obligations and regulations as articles
the charter OF said Corporation.
| ARTICLE 1.
| NAME.
The name and title OF said corporation shall b.
the NEW ORLEA Ms PACIFIC RAILWAY COM
PANY, and by that pane shall have succession
| and have corporate ext tence for and during thu
| 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 hole
| real and personal property, may make contracts
may receive grants OF land or personal property
and shall possess all tie powers and privileges
which corporations are or may be by any genera
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.
SEQ. 1. The capit,J stock of this corporation is
| hereby fixed at THREE MILLION DOLLARS
| $50. 600, OOO), represented by THIRTY THOU
SAND SHAhEs Of ONE HUNDRED DOLLARS
($1O0) 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 Direct, 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, =: B. WHEELO K,
President: HUGH KENNEDY, Vice President,
s. II. KENNEDY, Treasurer. When one hum
dred and fifty thousand dollars 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 this charter; to enable them to do
this, subscriptions to the capital stock shall be
due and payable ss herein provided for when
this amount has been subscribed.
SEC. e. 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 shsu be held liable or re-
sponsible for the contracts aud 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 organiza-
Of exposing a 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
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 he Company
until made upon it's 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 installments on his stock as
required the Board of Directors shall have the
option, after thir y days written notice to the
delinquent, of FORGETTING his stock or the amounts
previously paid thereon; and no stakeholder
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
shall be subject to repeal, change or modifics-
ton by the holders q majority Of the stock of
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
Firs-To locate, construct, lease, own and use
railroad with one or more tracks and suitable
,urnouts, OF such guage and construction and
upon such a course or route as may be deemed
most expedicnr, beginning at point on the Mis- |
,issippi River at New Orleans, or between New |
orleans and the parish OF Ibervile, the right |
bank Of the Mississippi, and Baton Rouge on the |
eft bank or from New Orleans or Berwlck's |
Bay, via Vermillionville, in the parish OF Lafay-
,tte, and Opelou.as, in the parish Of st. Landry,
II 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 |
ty of Marshall Dallas, in the State of Texas. in
1clp fQ
hall tx, 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 NAV
rom time to time deem proper and expedient
nd for the interest Of said company to own and
o use and lease, and they shall not be restricted
n the exercise Of this privilege to the State of
1ouisiana, but may connect heir main line with
ny other line or Lines in other States which
hall authorize the exercise of said privilege
within their limits, and the said company shall
ave right to establish and maintain in the
ity OF New Orleans proper freight and passen-
erries with the left bank Of the Mississippi River
t such point or points as may be deemed most
for the public interest, and to use in
UGH ferries steamboats, and other vessels and
Or the purposes OF such depots, tracks ana fer
les, may acquire property by appropriation
! Third TO construct, establish, or purchase in
his State, and thereafter, to own, lease, main.
lin and use suitable wharves, piers, warehous q
ards, steamboats,, harbors, depots, stations. and
Their works and appurtenances con ected with
nd 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 he
lost expedient and to the welfare OF said corpo.
Ition.
Fourth-To take, transport, carry and convex
ersons and property upon it's said railway and
8 boats, by power of steam or any other power
I'd to receive for safekeeping and to store mer,
landise and property in it's yards or warehouses.
I'd to receive for such transportation, safekeen.
z or storage such tolls and charges az NAV
ON time to time be established or authorized to
established by Directors Of said railroad COM
my.
To make advances of money or credits mon
erchsndise or property, for changes made by
her traI sportaten lines to be transported upon
railways, steamboats, or vessels, or to be
ored in its yards or warehouses to such extent. |
ID upon such terms and conditions as the Direc.
re- Of said Company may from time to time es
blish or authorize to be established.
Fifth-To obtain and receive by purchase.
ant from United States or otherwise, grant gift
wise and bequest, both real and personal prop,
ty. to have and to hold such real and personal
al estate, in this State for the obects mr. | E