The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-01-12
CHARTER.
STATE OF LOUISIANA,

Lord one thousand eight hundred and seventy
tive and Of the United States Of America th
ninety-ninth.
Before me, JOHN G. EUsTIs, a Notary Pub
lie, in and for this cit. and parish of Orleans
State of Louisiana, duly commissioned and qua Ii
fed and in the presence of the witnesses here
matter named and undersigned:
LEY, E. B. WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN H. KkNNARD, CYRUs
BUSSEY, GEOhGE JONAS, W. B. SCHMIDT
JAMES A. GIRDNER, JULIUS Wells, L. l.
RANLETT and DAVID WALLACE, all resi-
dents of this city, who severally declared
That availing. themselv.s of the powers
rights and privileges conferred by the sta
tutes OF the State OF Louisiana, relative
to the Reorganization of Corporations II
thi State, they do, by these presents, form
organize, constitute and found Corporation FOL
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-
stitute, and do, by these presents, form aid con-
stitute themselves, and all such other persons as
may here after become associated with them,
whether by subscription, purchase. transfer,
succession CT otherwise, into g. BODY Cor
porate," ard Hereunder bind themselves, and
| all who may hereafter become associated with
them, to be governed by the following stipu-
lations, 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 uame 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,
aud shall possess all tie powers and privileges
which corporations are or may be by any general
law of this State authorized to possess, ard said
company may exerciseits corporate powers within
any other State of the United States that shall
authorize The same.
ARTICLE II.
CAPITAL STOCK.
Sec l. The capit4l stock of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
(S3, 600 000), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
(S10O) 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 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, = B. WHEELO K,
President; HUGH KENNEDY, Vice President
s. H. KENNEDY, Treasurer. When one hun
dred aud fifty thousand dollars ($150, 0CO) of the
capital stock stall have been subscribed, the
the construction of the road, and to carry out 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 90
per cent? on each share at any time, and thirty
days must elapse before another call can be
made.
Sec. 3. No stakeholder chs be held able 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 iufornialities in he organiza-
ton have the effect of annuling this Charter, or
of exposing a stakeholder to any liability b.yOnd
the amount OF his stock subscription unpaid.
Sec. 4. The domiciIe Of the company shall be |
the city of New o leans, and citation shall be |
served there on the President OF the company, or |
i'll his absence, on the Vice Presidenr.
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
to pay the ln-tslments on his stock as
required, the Board of Directors shall have the
option. after thir Ndays' written notice to the
of forfeting his stock, the amounts
previously paid thereon; and TO stakeholder
hall have the right to vote while in defsult.
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
hall be subject to repeal, change. or modifca-
ion by the holders # a ma jOrity of the stock OF
he Company at their meeting.
ARTICLE III.
GENERAL POWERS,
The said company il empowered and author
zed:
First-To locate, construct, lease, own and use
railroad with one or more tracks and suitable
urnouts, of such guage and construction and
pon such a course or route as may be deemed
y a majority of the Directors of said company
most expedienr, beginning at point on the Mis-
issippi River at New Orleans, or between New
orleans and the parish OF IbCrville. on the right
ank Of the Mississippi and Baton Rouge on The
eft bank from New Orleans or Berwicks
Say, via Vermillionvile, in the parish OF Lafay-
tie, and Opelousas, in the parish of st. Landry,
r from any Of said points, or from any point
,ithin the limits ofthls State, and running thence
owards and to TIE city Of Shreveport. or the
ity of Marshall or Dallas in the State of Texas in
UGH direct ion and route or routes said company
ball fix, and with such connecting branches in
be State Of Louisiana rs may be deemed
roper.
Second--To locate, construct, lease, own, main
lin and use such branch railroads and tracks as
majority of the Directors of said company may 2
ON time to time deem proper and eXpedient \
nd for the interest of said company to own and a
use and lease, and they shall not be restricted @
the exercise of this privilege to the State of d
ouisiana, but may connect tNeir MAN line with b
ny other line or Ines in other States which 6;
lall authorize the exercise Of said privilege
thin their limits and the said company shall
ave a right to establish and maintain in the
ty of New Orleans proper freight and passen-
r depots, and to connect them by tracks and al
rries with the left bank of the Mississippi River ii
such point or points as may be deemed most CT
nvenient for the public interest, and to use in
Oh ferries steamboats, and Other vessels, and m
r the purposes of such depots, tracks ana fer 81
IS. may acquire property by appropriation.
Third To construct, establish, or purchase in
ls State, and thereafter, to own, lease, main =
in and use suitable wharves, piers, WAREHOUSES
her works and appurtenances CON ected with
d incidental to said railway and it's connec-
ms. and to run and mana ge the same az the