The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-03-31

CHARTER.
STATE OF LOUISIANA,

i
STATE OF LOUISIANA,
PARISH OF ORLEANS, CITY OF NEW ORLEANS, J
BE IT KNOWN, That on this twenty mint
day OF the month Of June, in the year OF on
Lord one thousand eight hundred and seventy
five, and Of tho United States Of America tn
Before me, JOHN G. EUsTIs, Notary Pub
lie. in and for this CITY. 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; y; 4 HAY
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. ayailing. themselves Of the powers
tutes of the State Of Louisiana. relative
to the Reorganization of Corporations" IL
thi5 State, they do, by these presents, form
organize, constitute and found Corporation fol
the objects and purposes as snail 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 ae
may hereafter become associated with them,
whether by subscription, purchase. transfer.
porate," and hereunder bind themselves, and
all who may hereafter become associated with
them, to be governed by the following stipu-
ations, obligations and regulations as articles OF
the charter OF said Corporation,
ARTICLE I.
NAME.
The name 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 Of this State authorized to possess, and said
any other State of the United States that shall
authorize the same.
ARTICLE II.
CAPITAL STOCK.
SEQ. /. The capital stock of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
($3, OOO, 0OO), represented by THIRTY THOU
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 Directors and shall
hold their Office, together with the following
named gentlemen, who shall be the officers Of
the Company until the second Mednesday in
President: HUGH KENNEDY. Vice President;
8. II, KENNEDY, Treasurer. When one hun
dred and fifty Thousand dollars $3.50 000) 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 of THU charter; to enable them to do
this, subscriptions to the capital stock shall be
due and payable az 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
days must elapse before another call can be
made.
SEC. 8. No stakeholder shau be held liable or re-
sponsible 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 srganizar
ton 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 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 its stock books, and no stock
CeTtluC&Co b0au % N6uou oXC0pt IOl Iu1 pa1O
stock.
SEC. g. In the case Of failure on the part Of any
to pay the installments on his stock as
required, the Board Of Directors shall have the
option, after thir days written notice to the
of FORGETTING his stock, or the amounts
paid thereon; and no stakeholder
shall have the right to vote while in default.
Sec z. 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
shall be eubject to repeal, change or modiica-
ion by the holders Of majority OF the stock of
he Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author |
zed:
First-To locate, construct, lease, own and use |
railroad with one or more tracks and suitable |
of such guage and construction and
Upon such course or route as may be deemed |
" majority of the Directors Of said company |
most expedient, beginning at point on the Mis- |
issippi River at New Orleans, or between New |
orleans and the parish OF Iberville, on the right
,ank of the Mississippi, and Baton Rouge on the |
eft bank; or from New Orleans or Berwick's l
Bay, via VermiIlonville, in the parish OF Lafay-
tie, and Opelousas, in the parish Of st. Landry,
II from any Of said points, or from any point
rithin the limits Of this State, andrunning thence
ity of Marshall or Dallas in the State of Texas in
hall fix, and with such connecting branches in
he State of Louisiana as may be deemed
roper.
Second To Jocafa constry,ct Jeaso ovun main |