The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-02-15

l
} to the Organization of Corporations, !
thi State, they do, by these presents, form
organize, constitute and found q Corporation to
the objects and purposes as shall herealter
enumerated and set forth; and to that end the
\ do hereby covenant and agree to form ana con
& atitute, and do, by these presents, form and con
stitute themselves, and all such other persons
may hereafter become associated with them
whether by subscription, purchase, transfer
l succession or otherwise, into "Body Cor
pora,e." and Hereunder bind themselves, ant
all who may hereafter become associated witt
them, to be governed by the following stipu
lations, obligations and regulations as articles
| the charter OF said Corporation.
| ARTICLE I.
| NAME.
| The name and title of said corporation shall bt
the NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that name shall have succession
and have corporate exlstence 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 the powers and privileges
which corporations are or may be by any general
law Of this State authorized to possess, and said
company may exercseits corporate powers within
any other State of the United States that shall
authorize the same.
ARTICLE II.
CAPITAL STOCK.
SEQ 1. The capital stock of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
(S3 900 OOO). represented by THIRTY THOU
SAND SHARES OF ONE HUNDRED DOLLARS
($100) 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, 1871 IL Q Officers, y B. WHEEL0cK,
8. H. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars $3.50 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
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 be made of more than ten per cent no
per cent? on each share at any time, and thirty
days must elapse before another call can be
made.
SEC 8. No stockholder shat be held liable or re-
sponsib!e 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 informalities in the organiza-
ton have the effect of annulling this Charter or
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
Ter 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 anv
to pay the installments on his stock as
equired, the Board of Directors shall have the
option, after thir days written notice to the
delinquent, of FORGETTING his stock, or the amounts
previously paid thereon; and no stakeholder
hall have the right to vote while in default.
Sec Z. All rules relative to the declaration of
lividends or divisions of profits, as well as the
y-laws OF the Company, shall be made by the
soard of Directors, but said rules and bylaws
ion by the holders 1t majority Of the stock of
be Company at their meeting.
ARTICLE III.
GENERAL POWERS,
The said company is empowered and author
First-To locate, construct. lease, own and use
railroad with one or more tracks and suitable
l.
pom such q course or route as may be deemed
Y majority OF the Directors Of said company
lost expedient, beginning at point on the Mis-
ssippi River at New Orleans, or between New
INK of the Mississippi, and Baton Rouge on the
1t bank; or from New Orleans or Berwick's
ay, via Vermillionville, in the parish OF Lafay-
tie, and Opelousas, in the parish Of st. Landry,
from any OF said points, or from any point
wards and to the city Of Shreveport. or the
ty OF Marshall or Dallas, in the State of Texas in
ch direction and route or routes as said company
al fix, and with such connecting branches in
70 State OF Louisiana as may be deemed
0per.
Second-To locate, construct, lease, own, main
in and use such branch railroads and tracks as
majority Of the Directors of said company NAV
om time to time deem proper and expedient n
ID for the interest OF said company to own and g g
use and lease, and they shall not be restricted Q
the exercise Of this privilege to the State of d
,uisiana, but may connect their main line with b.
y other line or lines in other States which 8;
al! authorize the exercise of said privilege
thm their limits, and the said company shall
We right to establish and maintain in the
y OF New Orleans proper freight and passen-
r depots, and to connect them BY tracks and al
'ries with the left bank of the Mississippi River I'll
such point or points as may be deemed most CT
nvement tor the public interest, and to use in
Oh ferries steamboats, and other vessels. and m
the purposes OF such depots, tracks and fer &c
8, may acquire property by appropriation.
Ihlrd-To construct, establish, or purchase in
70 State, and thereafter, to own, lease. main =
n and use suitab wharves, piers, warehouses.
rds, steamboats,, harbors, depots, stations, and
Ter works and appurtenances connected with
q incidental to said railway and it's connec-
ne, and to run and manage the same as the
'ectors Of the said Company may deem to be
st expedient and to the welfare of said corpo-
ion.
Fourth-To take, transport, carry and convex
sons 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 it's yards or warehouses.
to receive for such transportation, safekeep,
or storage such tolls and charges as mavI
% time to time be established or authorized to
by Directors Of said railroad COM
y
o make advances of money or credits mon
rchandise or property, for changes made bv
er transportation lines to be transported upon
railways, steamboats, or vessels, or to be
ed in it's yards or warehouses to such extent.
upon such terms and conditions as the Direc.
!. OF said Company may from time to time es-
lish or authorize to be established.
ifth-To obtain and receive by purchase. -
Mt from United States or otherwise, grant, gift. #
lS0 and beOuest both real and nera0nal y,rov, | Il