The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-03-29

thi, State, they do, by these presents, form,
organize, constitute and found . Corporation Ior
| the objects and purposes as shall hereafter De
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
Iporate," 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 I.
The name and title OF said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY CON-
PANY, and by that name shall have succession,
| and have corporate existence for and during the
full term and period Of twenty-five (Z5) 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 exercise it's corporate powers within
any other State Of the United States that shall
authorize the same.
ARTICLE II.
CAPITAL STOCK.
| SEQ. l. The capital stock of this corporation is
hereby fixed at THREE MILLION DOLLARS
| ($3, OOO, OO0), represented by THIRTY THOU
SAND SHARES Of ONE HUNDRED DOLLARS
| ($1OO) 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, p: B. WHEELOCK,
President: HUGH KENNEDY. Vice President;
s. H. KENNEDY, Treasurer. When one hun
bred and fifty Thousand dollars $3.50 000) 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 thio 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 Tor
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. g. No stakeholder shau be held liable OF re-
eponsible 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 erganiza-
ton have the effect Of annulling this Charter, or
Of exposing stakeholder to any liability beyond
the amount OF his stock subscription unpaid.
SEC. L. 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-P President.
| SEQ 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 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 days written NOTICE to the
delinquent, of FORGETTING his stock, or the amounts
Shall have the right to vote while in default.
SEC. Z. 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 OF modifca.
ton by the holders Of majority Of the stock Of
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
First-To locate, construct, lease, own and use
| q railroad with one or more tracks and suitable
turnouts, Of such guage and construction and
upon such course or route as may De deemed
by majority of the Directors OF said company
sissippi River at New Orleans, or between New
Orleans and the parish OF Iberville on the right
bank Of the Mississippi, and Baton Rouge on the
left bank; or from New Orleans or Berwick's
cite, and Opelousas, in the parish Of st. Landry,
or from any Of said points, or from any point
within the limits Of this State, andrunning thence
towards and to the city OF Shreveport. or the
city of Marshall or Dallas An the State Of Texas in
such direction and route or routes as said company
shall fix, and With such connecting branches in
the State Of Louisiana 80 may be deemed
proper.
tain and use such branch railroads and tracks as
a majority OF the Directors Of said company may
| from time to time deem proper and expedient
and for the interest Of said company to own and
to use and lease, and they shall not be restricted
in the exercise OF this privilege to the State OF
| Louisiana but may connect their main line with
any other line or lines in other States which
| shall authorize the exercise OF said privilege
within their limits, and the said company shall
! have q right to establish and maintain In the
| CITY of New Orleans proper freight and passen-
ger depots and to connect them by tracks and
Ferries with the left bank of the Mississippi River
| at such point or points as may be deemed most
convenient for the public interest, and to use in
| such ferries steamboats, and other vessels, and
for tie purposes Of such depots, tracks and fer
| ries. may acquire property by appropriation.
Third-To construct, establish, or purchase in
this State, and thereafter, to own, lease, main
tain and use suta bic wharvee piers, warehouses.
yards, steamboats,, harbors, depots, stations and
other works and appurtenances connected with
and incidental to said railway and its connec-
| tions, and to run and manage the same as the
Directors of the said Company may deem to be
most expedient and to the welfare OF said corpo.
ration.
Fourth-To take, transport, carry and convey
persons and property upon its said railway and
it's boats, by power Of steam or any other power,
and to receive for safekeeping and to store mer-
chandise and property in its yards OF warehouses,
and to receive for such transportation, safekeep-
ing or storage such tolls and charges as may
from time to time be established or authorized to
be established by Directors Of said railroad COM
pany.
merchandise or property, for changes made by
other transportation lines to be transported upon
it's railways, steamboats, or vessels, or to be
stored in its yards or warehouses to such extent.
and upon such terms and conditions as the Direc.
tors Of said Company may from time to time es-
tablish or authorize to be established.
Fifth-To obtain and receive by purchase,