The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-01-14

| U
}, enumerated and set forth; and to that end the
do hereby covenant and agree to form and COL
stltute, and do, by these presents, form and cor
{ stltute themselves, and all such other persons
may hereafter become associated with then
whether by subscription, purchase, transfer
, succession or otherwise, into 'Body Con
porate," and hereunder bind themselves, an
all who may hereafter become associated wit
, them, to be governed by the following stipu
lations, obligations and re- uations as articles
the charter oil said CORPORATION.
!, ARTICLE I.
NAME.
The name and title of said corporation shall b.
the NEW ORLEANS PACIFIC RAILWAY COM
| PANY, and by that name shall have succession
and have corporate ext tence for and during tn,
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 holC
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 genera
law OF this State authorized to posse S. and said
com pany may exercise its 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 corporation is
| hereby fixed at THREE MILL ION DOLLARS
1 u .
| SAND SHARES 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, RS 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. WHEELOcK,
s. II. KENNEDY, Treasurer. When one hun
dred and fifty thousand dollars $3.50, 0CO) of the
capital stock shall have been subscribed, the
Board Of Directors are authorized to CONNIE nee
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 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 Ne
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-
sponslble 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 lniOrmalities i'll The organiza
tirn have the effect of annulling this Charter or
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 0 leans, 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 he 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
to pay the ln-tallments on his stock as
required, the Board OF Directors shall have the
option, after thir days written notice to the
of forfeting his Stock or the amounts
previously paid thereon and no stakeholder
hall 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
hall be subject to repeal, change or modifica-
ion by the holders f a majority Of the stock of
he Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company Is empowered and author
zed:
Flrst-To locate, construct, lease, own and use
railroad with one or more tracks and suitable
uruouts, OF such guage and construction and
pon such course or route as may be deemed '
y majority OF the Directors of said company
1ost expedient, beginning at point on the Mis-
issippi River at New Orleans, or between New
,rleans and the parish OF Iberviile, on the right
ank of the Mississippi, and Baton Rouge on the
1T bank or from New Orleans or Berw,cks
lay, via Vermillionvile, in the parish OF Lafay-
tie, and OpelOu-as, in the parish of st. Landry,
r from any OF said points, or from any point
Tithin the limits ofth,s State, and running thence
owards and to the city of Shreveport. or the
ity of Marshall or Dallas in the State of Texas, in
UGH direction and route or routes as said company
hall fix, and with such connecting branches in
he State Of Louisiana as may be deemed
Oper
m, |
lin and use such branch railroads and tracks as
majority OF the Directors of said company NAV 2
ON time to time deem proper and eXpedient
nd for the interest Of said company to own and 81
use and lease, and they shall not be restricted
the exercise OF this privilege to the State of d
euisiana, but may connect their main line with b.
~ other line or lines in other States which 6:
lal authorize the exercise of said privilege
thin their limits and the said company shall
ave a right to establish and maintain in the
ty of New Orleans proper freight and passen.
n depots, and to connect them by tracks and al
rries with the left bank of the Mississippi River til
such point or points as may be deemed most CT
nvenient for the public interest, and to use in
oh Il rries steamboats, and other vessels and N
r the purposes Of such depots, tracks and fer 30
IS. may acquire property by appropriation
Third 10 construct, establish, or purchase in
ls State, and thereafter, to own, lease, MAIN =
IN and use suitable wharves, piers, warehous g.
rds, steamboats,, harbOrs, depots, stations, and
her works and appurtenances con ected with
d incidental to said railway and it's connec-
ms, and to run and manage the same as the
rectors of tie said Company may deem to be
,st expedient and to the welfare of said corpo-
ion.
7ourth--To take, transport, carry and convey
rsons and property upon its said railway and
boats, by power of steam or any other power,
/ to receive for safekeeping and to store mer-
.ndise and property in its yards or warehouses,
to receive for such transportation, safekeep-
or storage such tolls and charges as may
m time to time be established or authorized to
established by Directors of said railroad COM
~.
o make advances of money Or credits upon
rchsndise or property, for changes made by
er ira sportation line g to be t, ansported upon
railways, steamboats, or vessels, or to be
red in it's Yards or warehouses to such extent,
upon such terms and conditions as the Drec-
. If said COMPANY MAJ from time to time a.
il al or authorize to be established.
ltth-To obtain and receive by purchase -