The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-03-18
CHARTER.
STATE OF LOUISIANA

| That, availng themselves OF the powers
rights and privileges conferred by the sta
to the Organization Of Corporations" i
this 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 q.
may hereafter become associated with them
whether by subscription, purchase. transfer
succession Or otherwise, into BODY Cor
porate," and Hereunder bind themselves, an(
all who may hereafter become associated witt
| them, to be governed by the following stipu
lations, obligations and regulations as articles o.
the charter OF said Corporation.
ARTICLE I.
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,
aud 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 exercseit its corporate powers within
any other State of the United States that shall
authorize the same
ARTICLE II.
CAPITAL STOCK.
SEQ /. The capital stock of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
49, O0O, 0OO), 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
l1- H. bose -n1l H.
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. WHIEEL0oK.
s. H. KENNEDY, Treasurer. When one hum
bred and fifty Thousand dollars ($15O, O0O) 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
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 DO 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.
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,
Of exposing stakeholder to any liability beyond
the amount OF his stock subscription unpaid.
Sec. 4. The domlcile 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
- &ba NH foo oc ~ ofrcb
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. 6. In the case Of failure on the part Of any
subscriber to pay the installments Ills 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. 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
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
lied:
First-To locate, construct, lease, own and use
q railroad with one or more tracks and suitable
upon such q course or route as may be deemed
by majority Of the Directors Of said company
most expedicnt, beginning at point on the Mis-
sissippi River at New Orleans, or between New
Orleans and the parish OF Ibexville. on the right
s n' on om Ess
Bay, via vermillionville, in ~ 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 Of this State and running thence
city of Marshall Dallas, in the State of Texas, in
such direction and route routes az 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 az
q 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
10 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
erries with the left bank of the Mississippi River
1t such point or points as may be deemed most |
convenient for the public interest, and to use in
,uch 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. |
ain and use suitable wharves, piers, warehouses |
7ards, steamboats,, harbors, depots stations. and
'ther works and appurtenances connected with |
md incidental to said railway and its connec- |
ions, 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.
alton.
Fourth-To take, transport, carry and convey
'ersons and property upon it's said railway and
ts boats, by power of steam or any other power,
nd to receive for safekeeping and to store mer-
handise and property in its yards or warehouses,
nd to receive for such transportation, safekeep-
lg or storage such tolls and charges as NAV
rom time to time be established or authorized to
e established by Directors Of said railroad COM
any.
To make advances Of money or credits upon
Merchandise or property. for changes made by
Their ira, sportatien lines to be transported upon
IS railways, steamboats, or vessels, or to be
tored in its yards or warehouses to such extent. |
nd nn0n such terms and conditions as tho n;roo |