The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-02-05
CHARTER.
STATE OF LOUISIANA,

ninety
Before me, JOHN G. EUsIIS, Notary Pub
lie, III and for this citv, and parish Of Orleans
State of Louisiana, duly commissioned and qua |
fed, and in the presence OF the witnesses here
matter named and Undersigned:
Personally cane ana appeared, G: W. r. BAY
JOHN PHELPS, JOHN b. kbNNARD, CYRUi
| BUSsEY, GEORGE JONAS. w. 3. SCHMIDT
JAMES A. GIRDNER, JULIUS WEiS, L. L
| kANLETT and DAVID WALLACE, all RESI-
dents of this city, who seyerally declared
| Ihat, availing themselves OF the powers
rights and privileges conferred by the. sta
| tutes Of the State of Louisiana, relative
to tie Reorganization of Corporations" II
| thi State, they do, by these presents, form
organize constitute and found Corporation fol-
| the objects and purposes 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
stltute themselves, and all such other persons a.
may hereafter become associated with tbem
whether by subscription, purchase, transfer
succession or otherwise, into s'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 oil
the charter OF said Corporation.
ARTICLE l.
NAME.
The name and title of said corporation shall be
the NEW ORLEANS PACIFIC HALLWAY CON
PANY, and by that name shall have SUCCESSION
and have corporate exl-tence 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,
and shall possess all tie powers and privileges
which corporations are may be by any general
law OF this State authorized to POSSE 81, and said
cOmDany It's cD,nOrG witt in
any other State of the United States that shall
authorize The same.
ARTICLE II.
CAPITAL STOCK.
SEC. I. The capital stock of this corpora ton is
hereby fixed at THREE MILL ION DOLLARS
(s3,000,0 0G), represented by THIRTY THOU
SAND SHARES Of ONE HUNDRED DOLLARS
($lC0) EACH, with the right to increase sail
capital stock to TWELVE MILLION DOLLARS
provided that said corporation shall be organized
uuder the lncorporators herein named, who
shall constitute the Board of Direct aud shall
hold their office, together with the following
named gentlemen, who shall be- the officers Of
the Company until the second Weoneeday in
January, 1877: Officers, E B. WHEELO X,
President: HUGH KENNEDY, vict President;
S. II. KENNEDY, Treasurer. When one hum
dred and fifty thousand dollars ($150, Gb0) of the
capital stock shall have been subscribed. the
Board Of Directors are authorized 10 CONNIE ice
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 IS 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 10
per cent? on each share at any time, and thirty
dsys must elapse before smother call can be
made.
SEC. 3. No stakeholder shau be held liable or 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 iufOrmalitles in the 0rganiZa-
ton have the effect Of snnuling this Charter, or
Of exposing stakeholder to nny liability b. yond
the amount Of his stock subscription unpaid.
SEC. 4. The oomicile of the COMPANY shall be
the city of New Ofleans, and citation shall be
served there on the President of the company, Or
70 his absence, on the Vice President.
SEC. 5. The stock books shall be kept at the
office OF the Company, whence ctrttcates of stock
shall be issued to the subscribers, but no trans
er of stock shall be binding upon he Company
Until made upon its stock books, and 10 stock |
shall be Issued except for full paid
stock.
SEC. g. In tho case Of failure on the part of any
to pay the indictments on his stock az
equired, the Board Of Directors shall have the |
.ption, after thir days written notice to the |
of forteiting his stock, or the amounts
previously paid thereon: and no stakeholder |
hall have the right to vote while in default.
SEC. 7. AL rules relative to the declaration of |
vidends or divisions of profits, as well as the
y-aws of the Company, shall be made by the |
'oard Of Directors, but said rules and bylaws
hall be subject to repeal, change or modifica-
ION by the holders + a majority Of the stock OF
he Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The saia company is empowered snd author
,ed:
First-To locate, construct, lease, own and use
railroad with one OF more trs cks and suitable
lrnou.s, of such guage and construction and
pom such course or route as may be deemed
! ma jority OF the Directors of said company
lost expedienr, beginning at point on the Mis-
esppi River at New Orleans, or between New
reans and the parish OF Iberville, on the right |
ank of the Mississippi, and Baton Rouge on the
it bank; or from New Orleans or Berw'ck's
ay, via Vermillionville, in the parish OF Lafay-
tie, and Opelousas, in the parish of st. Landry,
from any OF salt points, or from any point
thin the limits this State, and running the nee
wards and to the city Of Shreveport. or tie
ty Of Marshall or Dallas in the State of Texas 10
lch direction ana route or routes said COMPANY
lall fix, and with such connecting branches ia
e State of Louisiana may be deemed |
Second-To locate, construct, lease, own, main
IL and use such branch railroads and tracks as
majority Of tie Directors OF said company may ,
ON tlllle 10 tlIle uecUl proper dHU e&9eGlGllt !
ID for the interest of said com pany to own and 4
use and lease, and they shall not be restricted
the exercise Of this privilege to the State Of ,
,uisaue, but may connect their main line with !
" other line or lines in other States which t
all authorize the exercise Of said privilege
thin their limits, and the said company shall
We right to establish and maintain in the
Y o. New Orleans proper freight and passen-
: depcts, and to connect them by tracks aud d
-ries with the left bank OF the Mississippi River
such point or points as may pe deemed most 9
nvenent for the public interest, and to use in
ch f rries steamboats, and other vessels, and Z
: the purposes OF such depots, tracks ana fer
g, may acquire property BY appropriation.
Third To construct, establish or purchase in
Is State, and thereafter, to own, lease, rnf,n- :
n and use suitable wharves, piers, warehous 8
rds, steamboats,, harbors, depots stations and
Ter works and appurtensnces con ecteo with
d incidental to said railway and its connec-
ns, and to run and manage the same as the
rectOrs of the said Company may deem to be |
'st expedient and to the welfare of said corpo-
ion.
Eourth-To take, transport, carry and convey
-sons and property upon its said railway and