The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-01-08
CHARTER.
STATE OF LOUISIANA,
? an OpyrAvc CyTv OE NHw ORLEANS

1
five, and of the United States of America thu
ninety ninth.
lie, in and for this CITY, and parish OF Orleans
fed, and in the presence Of the witnesses here
matter named and undersigned:
LEY, E. B. WHEELOCA, HUGH hENME NED.
JOHN PHELPS, JOHN b. kE 1 y, a, G4 I1i7G
JAMES A. GIRDNER, JULIUS WEIS, Z. L.
| RANLETT and DAVID WALLACE, all resi-.
dents Of this city, who seyerally declared
That, availng themselves of the powers,
rights and privileges conferred oy the s.a,
| to the Reorganization of Corporations, III
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 enu tney
| do hereby covenant and agree to form and con-
sttute, 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
pora,e," and Hereunder bind themselves, and
all who may hereafter become associated with
Them to be governed by the following stipu-
lations obligations and regulations as articles OF
the charter OF 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 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,
and shall possess all tie 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 she same.
ARTICLE H..
CAPITAL STOCK.
SEC. l. The capital stock Of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
ga, 000,O00), represented by THIRTY TdOU-
SAND SHARES Of ONE HUNDRED DOLLARS
(S1OO) EACH, with the right to increase said
capital stock to TWELVE MILLION DOLLARS,
provided that said corporation shall be organized
uoder 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, B. WHEELO *,
President: HUGH KENNEDY, Vice President,
s. H. KENNEDY, Treasurer. When one hum
bred and fifty thousand dollars ($150, 000) of the
capital stock shall have been subscribed, the
the construction of the road and to carry out the
provisions Of thiu 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. q 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 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-
ton have the effect Of annulling this Charter,
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 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
required, the Board of Directors shall have the
option, after thir y days written notice to the
DELINQUENT of forfeiting 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 modifica-
ton by the holders # majority OF the stock of
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
TIE said companyis empowered and author
First-To locate, construct, lease, own and use
a 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 majority Of the Directors Of said company
most expedienf, beginning at point on the Mis- |
sissppi River at New Orleans, or between New |
Orleans and the parish OF Iberville, the right
bank of the Mississippi, and Baton Rouge on the |
left bank; or from New Orleans or Berwick's |
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 ofthls State, andrunning thence
towards and to the city of Shreveport, or the |
city Of Marshall Dallas, in the State of Texas in
such direction and route or routes said company
shall fix, and with such connecting branches in |
The State of Louisiana as may be deemed |
proper.
Second-To locate, construct, lease, own, main
tain and use such branch railroads and tracks as
from time to time deem proper and expedient
and for the interest of said company to own and |
10 use and lease, and they shall not be restricted
N the exercise of this privilege to the State of
louisiana, but may connect their main line with
my other line or lines in other States which
shall authorize the exercise of said privilege
within their limits and the said company shall
nave right to establish and maintain in the
,ity of New Orleans proper freight and passen-
ger depots, and to connect them by tracks and
erries with the left bank Of the Mississippi River
It such point or points as may be deemed most
convenient for the public interest, and to use in
uch ferries steamboats, and othe- 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.
ain and use suitable wharves, piers, warehous' s.
ards, steamboats,, harbors depots, stations and
Their works and appurtenances con- ected with
nd incidental to said railway and it's connec-
ions, and to run and manage the same as the
directors of the said Company may deem'to be
1ost expedient and to the welfare Of said corpo-
alton.
Fourth-To take, transport, carry and convey
and sai6 railway and |