The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-01-07
CHARTER.
STATE OF LOUISIANA.

| gay VI tne montn OF June, IN the year OF GU
Lord one thousand eight hundred and seventy
five, and Of the United States of America tn
ninety-ninth.
Before me, JOHN G. EUslIs, Notary Pub
Lie, in and for this CITY, 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 came and appeared, G. ". R. BAY
LEY, E. B: WHEELOCh, HUGH KENNEDY
JOHN PHELPS, JOHN 81. KENNARD. CYRU:
JAMES A. GIRDNER, JULIUS WEBS, Z. l.
RANLETT and DAVID WALLACE, all resi-
dents of this city, who severally declared
That, availing themselves of the powers
| rights and privileges conferred by the sta
| tutes Of the State Of Louisiana, relative
to the Organization Of Corporations" ii
| thi State, they do by these presents, form
| organize, constitute and found Corporation 10,
| the objects and purposes as shall hereafter be
| enumerated and set forth; and to that end they
| do hereby covenant and agree to form and con-
stltute, and do, by these presents, form and con-
stitute themselves, and all such other persons as
| may hereafter 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, to be governed by the following stipu-
lauons, Obligations and regulations as articles of
| the charter oil said Corporation.
ARTICLE l.
NAME.
The name and title of said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY COM
PANl, and 10y that name shall have SUCCESSION
and have corporate ext 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,
sud 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 exercisets 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
(S3,0O0,OOO). represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
capital stock to TWELVE MILLION DOLLARS
provided that said corporation shall be organized
under the incorporators herein named, who
shall constitute the Board of Direct RS 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, f B. WHEELO X,
President: HUGH KENNEDY, Vice President,
s. II. KENNEDY, Treasurer. When one hum
bred aud fifty thousand dollars $3.50 OOO) of the
Board OF Directors are authorized to commence
the construction OF the road and to carry ont the
provisions of this charter; to enable them to do
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 40 |
per cent? on each share at any time, and thirty !
days must elapse before another call can be |
made.
SEC. 3. No stakeholder shs 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 ~wned by |
him, nor shall any iuformalities in the organiZa,
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 domicie OF the company shall be
the city OF New CLEANS and citation shall be
served there on the President of the company, or
in his absence, OF 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 he 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 any
subscriber to pay the in-tallments on his stock as
equired, the Board of Directors shall have the
option. after thir days written notice to the
delinquent, of forfeitng his stock, or the amounts
previously paid thereon and no stakeholder
hall have the right to vote while in default.
SEC 7. Ali rules relative to the declaration of
dividends or divisions of profits, as we'll as the
'y-laws of the Company, shall be made by the
soard OF Directors, but said rules aud bylaws
hall be subject to repeal, change or modifca-
ion by the holders f q ma ority Of the stock OF
he Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company ls empowered and author 7
zed:
First-To locate, construct, lease, own and use '
railroad with one or more tracks and suitable t
lrnouts of such guage and construction and Il
pom such a course or route as may be deemed V
y majority OF the Directors of said company
lost expedient, beginning at point on the Mis-
ssppi River at New Orleans or between New
reans and the parish OF Iberve on the tight
ank of the Mississippi, and Baton Rouge on the
it bank; or from New Orleans or Berw ck'a
ay, via Vermillionville, in the parish OF Lafsy-
tie, and Opelou-as, in the parish of st. Landry,
. from any OF said points, or from any point
thin the limits of thus State, and running thence
wards and to the city Of Shreveport, or the
ty Of Marshall or Dallas, in the State of Texas, in
,ch direction ana route or routes said company
lall fix, and with such connecting branches in
lie State of Louisiana may be deemed
Oper.
Second-To locate, construct, lease, own main
in and use such branch railroads and tracks as
majority OF the Directors OF said company may 81
ON time to time deem proper and expedient n
ID for the interest OF said company to own and Al
use and lease, and they shall not be restricted O.
the exercise Of this privilege to the State of d,
'uisiana, but may connect their main line with be
Y other line lines in other States which 63
all authorize the exercise of said privilege
thin their limits, and the said company shall
We a 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
1,f han Of