The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-03-02
CHARTER.
OF LOUISIANA,

| Before me, JUN W. GOOJAC, NOVoAy uD
lie. in and for this citv, and parish Of Orleans
State of Louisiana, duly commissioned and quail
| fed. and in the presence of the witnesses here
matter named and undersigned:
Personally came and appeared, 6: "; r. BAY
LEY, +. B.; WHEELOCK; HHG H. RnN MI ~
BUSSEY, GEORGE JONAS, W: B. SCHMIDT
JAMES A. GIRDNER, JULIUS WEIS, E. L.
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, relative
to the Organization of Corporations, in
thi. State, they do, by these presents, form,
| organize, constitute and found Corporation Tor
the objects and purposes as shall hereafter be
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 a Body Cor
porate," 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.
NAME.
The neme 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 CT 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 /. The capital stock of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
tss, 00O, o0O), represented BY IHIRTY TaoU-
(s1OO) 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
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, e. B. WHEELOCK,
President: HUGH KENNEDY, Vice President;
s. H. KENNEDY, Treasurer. When one hum
bred and fifty Thousand dollars (s15O, 00O) 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 ofthio charter; to enable them to do
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 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 OF re-
sponsible for the contracts and 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 informalties in the erganza-
ton have the effect of annulling this Charter, or
Of exposing stockhoder 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. 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 mo- 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 instalments on his stock as
required, the Board of Directors shall have the
option, after thir y days written notice to the
DELINQUENT of forfeting his stock, 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
shall be subject to repeal, change or modifca-
ton by the holders ct majority OF the stock of
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
ICED:
First-To locate, construct lease, own and use
wit
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 expedient, beginning at point on the. Mis- |
Orleans and the parish OF Ibervile, on 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-
or from any of said points, or from any point
within the limits Of this State, and running thence
towards and to the city OF Shreveport, or the |
city of Marshall or Dallas, in 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 as may be deemed |
proper.
Second--To locate, construct, lease, own, MAIN
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
INV other line or lines in other States which
shall authorize the exercise of said privilege
within their limits, and the said company shall
have right to establish and maintain in the
,ity of New Orleans proper freight and passen-
,er 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
for the public interest, and to use in
,uch ferries steamboats, and other vessels, and
or the purposes of such depots, tracks and fer
les, may acquire property by appropriation.
ms State and thereafter to OWN ease msn
ain and use suitable wharves piers, warehouses;
ards, steamboats,, harbors, depots, stations, and
,ther works and appurtenances connected with
nd 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 its said railway and