The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-03-21
CHARTER.
STATE OF LOUISIANA.

day Of the month Of June, in the year Of our
lord one thousand eight hundred and seventy.
i've, and Of the United States Of America the
n' Before me. JOHN q. EUSTIs, Notary Pub
lie, in and for this CITY. and parish Ct Orleans,
State of Louisiana, duly commissioned and quali-
fied. and in the presence Of the Witnesses here
matter named and undersigned:
F y VIZ sa1 HSa q
JOHN PHELPS, JOHN =, KENNARD, CYRUS
BUSSEY, GEORGE JONAS, w. B. 6CHMIDT,
JAMES A. GIRDNER, JULIUS Wells, =. L.
RANLETT and DAVID . WAhL AsH.,r AZ res'-
That availing themselves OF the powers,
rights and privileges conferred by the. sta
tutes Of the State Of Louisiana, relative
to the Organization Of Corporaaons, In
organize, constitute and found Corporation for
the objects and purposes a. shall hereafter be
enumerated and.set forth; and to that end they
do hereby covenant ard agree To form and con-
s stus SCI other S' As
may hereafter become opciated with them,
succession or otheeuIps into ssDody Cor
porate," and thereundG bind themselves, and
them, to be governed b. the following stipu-
lations obligations and regulations e articles Of
the charter OF said Corporstion.
ARTICLE L
NAME.
The name and title of said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that pane 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,
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 the same.
ARTICLE II.
CAPITAL STOCK.
Sec. /. The capital stock Of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
SAND SHARES of ONE HUNDRED DOLLARS
($1OO) EACH, with the right to increase said
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 aaaoh os t1e 0cs q
January, 1877: Officers, =. B. WIMBLEDON,
President: HUGH KENNEDY, Vice President;
8. Fl. KENNEDY, Treasurer. When one hum
dred and fifty thousand dollars ($15O, OO0) OF the
Board Of Directors are authorized to commence
the construction ofthe road, and to carry ont the
provisions Of thiD charter; to enable them TO do
this, subscriptions to the capital stock shall be
due and payable ~ herein provided Tor when
this amount has been subscribed.
SEC. 2. fEhe time and manner OF payment Tor
stock sha1 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 no
per cent? on each share. at any time, and. thirty
days must elapse bef0re another call can be
SEC 8. No stakeholder shsu be held liable ORE
sponsibe 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 infOrmalitiee in the 6rganiZa-
lion have the effect of annuling this Charter, or
Of exposing stakeholder to any liability beyond
the amount Of his stock subscription unpaid.
the city Of New Orleans, and citation shall b
in his absence, on the vice-President.
SEC. S. The stock books shall be kept et the
office OF the Company, whence certificates OF ttock
shall be issued to the subscribers but no trans
Ter 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 e.
required, the Board Of Directors shall have the
option, after thir y days written notice to the
louDQueQG, Oh LOEl01tluS LIS BUCK, VI tuo 8HOUut0
previously paid thereon; and no stakeholder
hall have the right to vote while in default.
Sec. z. ALL rules relative 70 the declaration OF
dividends or divisions Of lrG9ts, - well % the
bylaws Of the Company, shall b made BY the
Board Of Directors, but said rulos and bylaws
hall be subject to repeal, change. or modifcs-
ion by the holders Of . majority Of livestock Of
he Company at their meeting.
ARTICLE III
GENERAL PowKAs.
The said company il empowered and author
Eed:
First-To locate, construct, lease, own and use
railroad with one or more tracks and suitable
urnouts, Of such guage and construction and
pon such course or route - may be deemed
y majority Of the Directors Of said company
most expedient, beginning at point on the Mis-
issippi River ct New Orleans, or between New
)rleans and the parish of Iberville, ON the right
ank of the Mississippi, and Baton Rouge on the
oft bank; or from New Orleans or Befwick's
tie, and Opelousas. in the parish OF st. sAndry,
r from any OF said points, or from ally point
vithn the limits Of this State, and running 6hence
owards and to the city Of Shreveport, orr the
UGH direction and route or routes - said company
hall fix, and with such connecting branches in
he State OF Louisiana - may be dssmed (
roper.
second-To locate, construct, lease, own, main
ain and use such branch railroads and tracks -
majority OF the Directors Of said company may
rom time to time deem proper and expodient
nd for the interest Of said company to own and
o use and lease, and they shalt not be restricted
q the exercise Of this privilege to the State OF
louisiana. but may connect their main line with
ny other line or lines in other States which
hall authorize the exercise Of said privilege
7ithin their limits, and the said company shall
!s right to establish an; t maintain in the
er depots, and to connect them by tracks and
srries with the left bank OF the Mississippi River