The herald. [volume] (New Orleans, La.) 1905-1953, 1912-06-27

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or assisting to place or guaranteeing the
placing OF any of the bonds or shares of
the cOmpany's bonds or capital, debentures
or other securities or Obligations or the
company, or in or about the obtaining of
loans on the company's bonds or other Obli-
cations by way of pledge or otherwise or
for guaranteeing the payment OF any in
debtedneSS of the company, directly or in
directly, or for endorsing the cOmpany's
note or notes for obtaining property for the
company for the conduct Of its business or
operations, in any way.
1t shall have power to elect officers and
directors. to name and appoint its mana
gers, agents and other employees and to fix
their compensation, and TO discharge the
same at will; to establish and adopt such
bylaws. rules and regulations as may be
deemed eXpedient and proper for the con-
duet and management Of its property and
business, and the same to alter, amend and
abolish at pleasure; 10 make and use COM
mon or corporate seal and the same to break
and alter at pleasure, and generally TO do
and perform all acts and things requisite
and necessary to carry out the objects and
purposes of this corporation.
ARTICLE II.
The domicile of this corporation shall be
in the city of New Orleans state of LouiSi-
ana. and all citations and other legal pro-
cess shall be served on the president, and in
his absence, on the vice-president, and in
the absence of both OF said officers on the
secretary of this corporation.
ARTICLE III.
The objects and purposes for which this
corporation Is organized and established,
and the nature of the business TO be carried
on by ID are declared to be as follows: To
locate, construct, maintain, own, lease, ope-
rate and manage a standard guage railroad
railroads, whether urban, interurban, SUI
burban, or other railroad. or railroads,
street railways and tramways, with the nee
eSSary side tracks, switches, turn-Outs, sta
tlOnS, docks, wharves, bridges, elevators,
warehouses, terminals, track connections,
poles, wires cOnduits, etc ; and to that end
to acquire, purchase, lease, hold and own
rightsOf-way, privileges, and franchises,
etc; and railroads, street railways and
tramways completed and unc0mpleted in the
state or elsewhere; to erect, maintain and
operate the same and to use all and any
appliances, cOntrivances, motive power, cleo
tricity, gasoline, gas or any other motive
power, the use OF which Is or may hereafter
he recognized and adapted for railroads,
whether urban, interurban, suburban or
other railroad or railroads, street railways
and tramways, and which Is necessary and
suitable to operate the same; also TO ac-
quire, dig. own, lease and operate canals,
and to acquire. construct, own, hire. lease,
rent, operate and use ships, steamboats,, tugs,
barges, ferries and motor boats, or other
vessels. in connection with or as auxiliary
to said railroad system and the business
thereof: to construct, establish, purchase,
lease, own, manage, maintain and operate
electrical and other plants and works for
the purpose Of supplying motive power TO
said railroads and electricity for light, pow
er. heat and all purposes TO railroads and
the general public, and to towns and cities
and the inhabitants thereof, and to any and
all persons and corporations: and to that
end TO acquire by lease or purchase rights
of-way, privileges and franchises for cleo
trcal wires, poles and conduits and cleo
trical plants completed and uncOmpleted,
and the same TO build, complete, maintain,
operate, manage, lease, sell, ALLEVIATE or dis
pose of; to create, establish, acquire, con-
struct, own, hire, lease, rent, operate. main
tain and manage lines Of telegraph or tele-
phone upon. adjacent TO, In the vicinity of,
along the route, and within the cities,
towns, area and location through which said
railroad or railroads traverse. or elsewhere.
with such connections and extensions as
may be hereafter determined upon ; and TO
that end to acquire by lease or purchase
rights-of-way, privileges and franchises for
telegraph or telephone wires, conduits, poles
and telephone and telegraph plants COM
pleted and uncOmpleted, and the same to
build, complete, maintain, operate, manage,
lease sell, ALLEVIATE or dispose Of also to
buy. own, sell, construct, lease and opera re
waterwOrks plants and pipes, and to supply
water for public or private purposes to po-
litical corporations or to individuals: also
10 buy, own, sell, lease, construct and ope-
rate ferries, also TO buy, own, sell, lease and
operate plants, pipes and systems for the
manufacture and distribution and sale Of gas
for all purposes; and in furtherance of the
above objects and purposes to purchase, ac-
quire, hold and dispose of stocks, bonds, and
other evidences Of Indebtedness of railroads,
street railways and tramways, ferries, ca
nais, telephone and telegraph companies,
electric light, power, heat and lighting COM
panies, gas, waterworks and gas companies
OF the character hereinabove described, and
in respect of any and all such stocks and
bonds to possess and exercise all the pow
ers of individual owners thereof, including
the right TO vote thereon Except the bust
ness of stock jobbing, which is hereby ex-
lNv AnIl l1.v h.I1 a
exercise all such incidental powers and
privileges as relate TO the business and pur-
poses hereinabove set forth, or that may
hereafter be conferred by law upon this
company or companies of similar character (;
and to do any and all things necessary and
proper TO carry out the business and pur-
poses of this corporation as herein set out.
without further authorization from the
shareholders.
ARTICLE ".
The capital stock OF this corporation Is
hereby fixed at and declared TO be the sum
of one million five hundred thousand (s1,-
JOOOOOO0) dollars, to be represented by
fifteen thousand l15,0OO) shares of one hun
bred (S1O0OO) dollars par value.
These shares shall he divided into pre-
ferred, of which there shall be five thousand
5000 shares, and common, of which there
shall be ten thousand 100000 shares and
the certificates therefor shall designate the
class of shares for which issued.
The preferred shares shall be entitled to
per centum per annum and no more, from
the LIST day of July 1912, for that and sub
sequent years, out of the net earnings of
the company applicable to dividends before
any dividend shall be paid upon the common
shares, and these dividends shall be cumula-
tive.
After payment of the above dividends
upon the preferred shares, the remainder of
the earnings of the company may in the
discretion of the board of directors, be used
20 pay dividends upon the common shares.
In the event of liquidation Of the COM
pany for any cause, the preferred shares
shall be entitled to be paid in full before
any payment is made upon the common
shares, which shall receive the rest Of the
assets.
AT all elections for directors or meetings
of the shareholders each share, whether pre-
ferred or common, shall be entitled to one
tl) Tote, either by the owner in person, or
by his written proxy.
No change shall be made In the number
of shares, either preferred or common, ex-
cept by vote Of three-f0urths of the out
standing shares of each class, taken separ-
ately, at a special meeting held for the
purpose
The company shall commence business and
become going concern as soon as thirty
800 shares shall have been subscribed.
The shares of the capital stock of this
corporation shall be paid for in money, or
for labor done or services rendered, or such
shares as may be issued or delivered for
other property rights and franchises to be
taken, accepted and received by the corpo-
ration for Its corporate purposes, at such
valuation and upon such terms for said
shares as the board Of directors may deter.
mine and direct from time to time to be ex.
pedient. The capital stock Of the corpora
tiOn may be increased or reduced by pro
eeedings taken In the manner prescribed by