The New Orleans bulletin., 1876-02-26


organize, constitute and found Corporation for
| the objects and purposes as shall hereafter b
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 as
may reafter become associated with them,
whether by subscription, purchase. transfer,
succession or otherwise, into "Body Cor
porate," and hereunder bind themselves, and
all who may hereafter become associated with
them, 10 be governed by the following stipu-
latons obligations and regulations as articles OF
the charter OF said Corporation.
ARTICLE I.
NAME.
The name and title of said corporation shall be
tho NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that Dame shall have succession,
and have corporate exir rtence for and during the
full term and period of twenty-five (25l 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 lard or personal property,
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.
SEQ 1. The capital stock Of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
SAND SHARES of ONE HUNDRED DOLLARS
(S1OO) EACH, with the right to increase said
capital sock to TWELVE MILLION DOLLARS,
provided that said corporation shall be organized
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, p B. WHEELOcK,
S. H. KENNEDY, Treasurer. When one hun
dred and fifty thousand dollars $3.50 0C0) 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 tor when
this amount has been subscribed.
Sec. 2. The time and manner OF payment for
stock shall be such rs may be determined by the
Board of Directors, provided, however, that no
call shall be made Of more than ten per cent 40
per cent) on each share at any time, and thirty
days must elapse before another call can be
made.
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 infornalities in the organiza-
ton have the effect Of annulling this Charter, or
the amount OF his stock subscription unpaid.
SEC. 4. The domiciie 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 e-President.
SEC. S. 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 he 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 days written noTlce to the
previously paid thereon; and no stockholder
shall have the right to vote while in default
SEC. 7. 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 modifca-
ton by the holders # q majority OF the stock OF
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
;zed:
a 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 majority of the Directors Of said company
most expedient, beginning at point on the Mis-
sissippi River at New Orleans, or between New
Orleans and the parish OF Iberville. on the right
bank of tho Mississippi, and Baton Rouge on the
left bank; or from New Orleans or Berwicks
Bay, via Vermilionville, in the parish of Lafay-
ette, and Opelousas, in the parish OF st. Landry,
or from any OF said points, or from any point
within the limits of this State, and running thence
towards and to the city Of Shreveport. or the
city of Marshall Dallas in the State of Texas; in
such direction and route or routes as said company
u. oo<iy h~ov
the State Of Louisiana as may be deemed
proper.
tain and use such branch railroads and tracks as
a 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 thelr main line with
anv other line or lines in other States which
shall authorize the exercise of said privilege
within their limits, and the said company shall
have q 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
convenient for the public interest, and to use in
such ferries steamboats, and other vessels, and
for the purposes Of such depots, tracks and 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 g.
yards, steamboats,, harbors, depots, stations. and
other works and appurtenances connected with
and incidental to said railway and its connec-
tions, 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-
ration.
Fourth-To take, transport, carry and convey
persons and property upon its said railway and
it's boats, by power of steam or any other power,
and to receive for safekeeping and to store mer-
chaudse and property in its yards or warehouses,
and to receive for such transportation, safekeep-
ing or storage such tolls and charges as may
from time to time be established or authorized to
be established by Directors of said railroad COM
pany.
To make advances Of money or credits upon
merchandise or property, for changes made by
other transportation lines to be transported upon
its railways, steamboats, or vessels, or to be
stored in It's yards or warehouses to such extent,
and upon such terms and conditions as the Direc-
tors Of said Company may from time to time es-
tablish or authorize to be established.
Fifth-To obtain and receive by purchase,
grant from United States or otherwise grant, gift