The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-10

,;uhaa ~ authorized 10 be established by the
directors Of said railrosd company: 70 MAKE aa.
vapoes OF money or credits upon merchanalss, VI
property for charges made by other ~ rsIwsss
ton lines TO be transported upon i!s rahwsys,
steamships, steamboats, or vessels, or 70 pc seofea
in ita var n or warehouses, to suoh ehtent suu
upon NJ, IN terms and conditions 10 the directors
OF said company may from time 70 time es'ao''Sn
or authorize TO be established. ~.
Fifth4-To own and run steamships and othei
vessels. ... -. s,u.,.,sa
grant from the United States or other wise, grant
gift, devise and bequest, both real ana pe,sona'
Sroperty: TO have and TO hold such real and per
aonaI estate in this state for the objects, pur.
posea. interests and business OF said company. =,
aeyenth-To construct and maintain its said
railroads, or any part OF the same, and 70 nave
the right oil way therefor across or along or npoh
any waters, water. coursos, river lake. bay Inlet
street. highway, turnpike or canal, WITHIN tne
state or Lopssana, which the course OF said rail-
WAYS may intorssct, touch or cross; provided the
said company shall preserve any water -oourse,
street, highway, turnpike or canal, when its saio
railways may 80 pass upop, along, or interseou.
touch or cross, 10 40 not to impair it's usefulness
10 the public unnecessarily, or IL temporarily I'm,
paired In aud during the construction Oh the sac
railroads, the said company shall restore tnc
same 10 It's former state or 70 eneh sac M
not be unnecessarily impaired or injured, anu tne
amid company shall not DO required to construct .
draw Ia any bridge over and across any stream OF
bayou, except streams navigabls by enrolled ana
licensed vessels, aud wheo required py lAws
Eipbth-To obtain by grant or otherwise from
any parish, city or village, within the state, any
rights privileges, or franchises that any OF said
parishes, cities or villages may choose 20 grant
In reference TO the construction. maintenance,
management, and use Of the railroads OK said
company, its depots, oars, looomo ives, and its
business within the limits OF such or any OF said
parishes, cities aud villages.
Nnth--ro GROSS, intercept, join, and unite iis
railways, and pro.rate with any other railroad
heretofore constructed In the state OF Louisiana
or any other State, at any point upon its route,
and upon the ground OF such other railroad, Win
the necessary turnouts, sidings, switches and
other eonveniences in furtheranee OK the OBJECTS
of Its connections.
Teath-To purchase or lease from any railroad
company or corporation, any railroad, charter,
franchises, property, and Rppurtensnoes Thereon,
and maintain and use the Same 40 part OF the
of this company.
Eleyen,h--To borrow money or TO purchase or
lease property on its own credit, for the pur-
pose or constructing and maintaining said rail-
road and steamship, or establishing continuous
andI connecting lines as hereiBbefore prov ded;
and as evidence OF the indebtedness OF said com.
psny for suoh loans, or the purchase or lease OF
such property, TO Issue It's corporate bonds or
notes, bearing interest at suob rate
per annum ne the Directory may elect, aud made
PAYABLE in goli or the lawful money OF the
United States. al such times aud places No may BIO
deemed most to the advantage OF the oorpora-
or notes. 10 mortgage and pledge its railroads,
tie capital stock. said capital stock being de-
olared personal property, and transferable aa
such, its steamships, its corporate franchises,
aud any OF its real or personal property, or any
portion Of the same.
Twelfth-To lay out its said railroads. and 70
construct the came, not exceeding two hundred
feet in width. upon any lands of tho State OF
and TO take, hold aud use for the pur-
pose OF necessary depots, stations, cuttings,
tnrnouts, aud for obtaining stone, gravel. earth
aud TIMBER for the construction of It's said rail-
road, any lands of the State OF Louisiana, lying
along or upon, or adjacent to the route or course
OK said railroad, that may be necessary for the
maintenance and security OF such
railroad: provided, however, that any and all
damages that may be occasioned, or that may
arise to any person, corporation or association,
other than the state OF Louisiana, by the taking
aud using OF such lands and material for the use
Of said company, ia Aforesaid, shall be assessed
and paid for by said company, rs provided in
this act.
Thirteenth corporation shall also have
power TO purchase, charter and run steamships
and other vessels, and to build, own and operate
lines OF telegraph In connection with and Incl
dental to their railroad and steamship lines.
eco. Q. The corporate powers OF the Company
shall be vested Ia Board OF Directors, composed
OF five stockholders, 10 be selected in accordance
with the bylaws OF the Company, and such Off.
GERS and agents as may from time to time be ap-
pointed by such board. No person shall be
director who lie not the actual owner OF at least
ten shares Of the capital stock OF said COMPANY.
Directors shall be elected every five years, and
continue in Office until others are electd to fill
their place, and shall have power to fill
in their number, caused by death
resignation, or otherwise. The Directors shall
elect every Ave years one of their number as
NJ paid and another Tran-
surer, and they shall also elect Secretary, and
shall have power 10 make and prescribe such
bylaws and rules and regulations, and from time
to time alter, amend and revoke, the same as they
pauy the transfer Of its stock the election of its
officers, the management and disposition Of its
business, property and effects, the powers and
conduct OF it's officers and agents, and all other
matters which shall in any way pertain to the
OF the company.
SEC. Z. All elections for directors shall be by
ballot, and every stakeholder shall be entitled TO
one vote in person. or by proxy, each share OF
stock owned by him, for ninety days prior to such
election.
SEQ s. Three Of the directors shall constitute
A quorum for the transaction OF business, and the
number of directors may be l. creased or dmin-
shed by majority vote Of stockholders in in
terest at any regular meeting; proutded the num-
Der shall not be less than five nor more than IF
teen.
FEC O. Stockholders meetings may be called
at any time by the Board Of Directors, ana on
the reputation VI the holders of one-fifth of the
capital stock issued it shall be their duty to call
such meetings, for the purpose Of amending this
charter and Consideration Of any action upon all
other business of the'company, and all questions
arising at such meetings shall be determined =
q majority of the stock there present and
voting. The meeting of the stockholders for the
election Of dir ctors and transaction Of the regu
lar business shall be held at such time as shall
be fixed by the Board Of Directors, after thirty
days notice in two daily newspapers published in
the city of New Orleans.
Sec 10. The time and manner Of payment for
stock shall be such as may be determined by the
Board of Directors.
SEQ. IL. No stakeholder shail bs held liable or
responsible for the contracts aud faults Of the
in any further sun than the paid
balance or balances due the company on shares
owned by him, nor sh Ill any informalities in the
organization have the effect Of annulhng this
charter, or of exposing a stakeholder to any lia-
bility beyond the amount Of his stock subscrip.
ton unpaid.
SEC il. The domicile ef the company shall be
The CITY of New Orleans and citation shall be