The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-03-30

to the "OrganlZatlOn OF COrpOratiOns,
thi; State, they do, by these presents, form
organize, constitute and found Corporation fo
the objects and purposes as shall hereafter bt
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 al
may hereafter become associated with them
whether by subscription, purchase. transfer
succession or otherwise. into BODY Cor
porate," and hereunder bind themselves, ant
them, to be governed by the following stipu
lations, obligations and regulations as articles d
| 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,
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.
SEQ. 1. The capital stock of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
SAND SHARES of ONE HUNDRED DOLLARS
| ($1O0) EACH, with the right to increase said
| capital stock to TWELVE MILLION DOLLARS,
provided that said corporation shall be organized
under the incOrporatOrs herein named, who
shall constitute the Board of Directors and shall
hold their Office, together with the following
| named gentlemen, who shall be the officers of
the Company until the second Wednesday in
January, 1877: Officers, 9. B. WHEELOOK,
President: HUGH KENNEDY. Vice President;
s. II. KENNEDY, Treasurer. When one hum
bred and fifty thousand dollars ($l5O, O00) 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 this charter; to enable them to do
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
call shall be made Of more than ten per cent 10
per eent) 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-
sponsble 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 ehall any informalties in the srganiza-
ton have the effect of annulling this Charter, or
Of exposing stockholder 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 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 instalments on his stock as
required, the Board Of Directors shall have the
option, after thir y days written notice to the
delinquent, of forfeting his stock or the amounts
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 subject to repeal, change or moditca-
ton by the holders IF a majority Of the stock Of
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
ICED:
First-To locate, construct, lease, own and use
railroad with one or more tracks and suitable
turnouts, of such guage and construction and
upon such course or route as may be deemed
BY a majority of the Directors Of said company
most expedient, beginning at point on the Mis-
sissippi River at New Orleans, or between New
bank Of the Mississippi, and Baton Rouge on The
left bank; or from New Orleans or Berwck's
Bav, via Vermillionville, in the parish OF Lafay-
cite, and Opelousas, in the parish Of st. Landry,
or from any Of said points, or from any point
towards and to the city of Shreveport. or the
city of Marshall or Dallas, in the State of Texas in
such direction and route or routes as said company
shall fix, and with such connecting branches in
the State Of Louisiana as may be deemed
proper.
Second-To locate, construct, lease, own, main
tain and use such branch railroads and tracks as
q majority OF the Directors Of said company may
from time to time deem proper and expedient
and for the interest Of said company to own and
to use and lease, and they shall not be restricted
in the exercise Of this privilege to the State OF
Louisiana, but may connect their main line with
any other line or lines in other States which
shall authorize the exercise of said privilege
within their limits, and the said company shall
have a right to establish and maintain in the
city of New Orleans proper freight and passen- |
ger depots, and to connect them by tracks and
ferries with the left bank Of the Mississippi River
at such point or points as may be deemed most |
for the public interest, and to use in
such ferries steamboats, and other vessels. and
for the purposes Of such depots tracks ana fer |
ries may acquire property by appropriation.
Third-To construct, establish or purchase in |
this State, and thereafter, to own, lease main. |
tain and use suitable wharves, piers, warehouses |
Yards, steamboats,, harbors depots, stations, and |
other works and appurtenances connected with !
and incidental to said railway and it's connec- /
lions, and to run and manage the same as the
Directors Of the said Company may deem to be |
most expedient and to the welfare Of said corpo-
:ation.
Fourth-To take, transport, carry and convey
persons and property upon its said railway and |
to boats, by power Of steam or any other power,
md to receive for safekeeping and to store mer-
,handise and property in its yards or warehouses,
md to receive for such transportation, safekeep.
ng or storage. such tolls and charges as NAV
rom time to time be established or authorized to
,e established by Directors of said railroad com
ANY.
To make advances Of money or credits upon
merchandise or property, for changes made bv :
ther transportation lines to be transported upon
Is railways, steamboats, or vessels, or to be
tcred in its yards or warehouses to such extent.
nd upon such terms and conditions as the Direc.
ors Of eaid Company may from time to time es.
ablish or authorize to be established,
Fifth-To obtain and receive by purchase.
y ~ Nj