The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1851-05-01
NesU Orleans, Jackson yssd
Northern Railroad.
To the Citizens of Louisiana.


The late New Orleans and jackson Railroad
Convention appointed Permanent Committee of
thirty persons fifteen citizens of the State of Lou
isana, and five citizens each for Mississippi, Ala
bama and Tennessee The committee was in
sructed to mature and lay before the public the
plan of great trunk Railroad, leading from New
Orleans, via Jackson, Mississippi, and thence
northward and eastward uniting with the vast
system of railroads, either projected, or being
structed, in the Southern and Western States.
The first action of the committee was directedto
devising ways and means for constructing that por
ton of the proposed Railroad between New Or
leans and the boundary line of Louisiana and Mis-
sissipp; and, after mature deliberation, they beg
leave to lay before you the accompanying papers,
| embracing plan of organization. For the honor
and prosperity of Louisiana, and the city of New
Orleans, we most earnestly and respectively solicit
| generous support.
By order of the Committee. JAMES Rom, Chm.
JOHN CALHOUN, Secy.
New Orleans, April 26. ISL
The Committee appointed to dra,U up Agreement
| for the Charter and Organization OF NeD Or
| leans and Jackson Railroad Company, haze the
| honor to Report:
| That after the most earnest efforts, they have
been utterly unable to devise any means for form
ing an organization under the present legislation OF
the State, that will afford the slightest prospect of
success in obtaining subscriptions, and they now
lay before you the difficulties which embarrass any
undertaking of this nature, and, in fact, render
| any scheme of internal improvement utterly hope
less, until some modification of the corporation law
of the State shall have been made.
| The Constitution of Louisiana provides, that
" Corporations shall not be created, in this Slate,
by special laws, except for political or municipal
purposes but the Legislature shall provide, by
general laws. for the organization of all other cor
pora,ons, except corporations with banking or
discounting privileges, the creation of which is
prohibited
| In compliance with the obligation thus imposed
| the Legislature enacted, in 1913, law " to pro-
vide for the organization of corporations in this
State"
The whole spirit of this law reveals the state Of
public feeling at the time of its passage 1t is com
posed If iwentysi, sections, filled with the most
minute provisions relative to formalities to be Oh
served, and restrictions to be imposed on the com
panies formed under its enactments. So far as re-
CARDS such companies as are intended to forward
works similar to that which we propose to under
take, the title Of the law would form better index
to its PROVISIONS if the act had been declared to be
intended 30 prohibit the organization of corpora
tons inthe State"
We proceed to refer specially to some Of the Sec
tons alluded to in the preceding remarks.
The third section requires the agreement of the
parties who propose to form a company to specify
the time when, and the place at which the book,
or books of subscription 10 such stock shall be
opened, and the period during which the same shall
remain open, and the names Of the Commissioners
who shall open said book, or books. and superin,
tend the subscription therein TO said stock" This
provision clearly precludes the obtaining of sub
scriplions by lists, to be carried round to the in
habians of the parishes where the line of road il
TO pass, and prohibits any other mode Of subscrb
ing Than by entry on the special books kept by
Commissioners, and at the special place where the
books are so kept. 1t is true thai mode might be
found of evading this prohibition, by sending GU
blank powers of attorney, to authorize persons II
subscribe in the name of others on the books KEEP
by The Commissioners; but, it is evident, that il
many subscriptions would be refused on suci
terms that would otherwise be readily granted.
The same section requires " that the Act of In
corporation be published las soon as passed ant
signed) twice week for thirty days. together will
the names Of the coroorators and stockholders, am
the amount of stock, or number of shares held an
: mence business and the sixteenth section require
may desire to constitute themselves into corpora
ton, " shall cause to be passed before notar
| public, of the parish wherein the corporation is t
be located, an Act Of Incorporation, which shal
contain all the clauses and requisites enumerate
in the third section, and shall be in all other re
spects in conformity with the provisions of this act
and shall present certified copy of the act to
District Judge of the District, with petition tina
it may be examined and inquired into by SAT-
Judge; that copy shall be served on the Distric
Attorney that he be allowed ten days to file hi
, written opposition to it, if in any respect contrar
to law that thirty days precious notice of the ap
plication to the Judge shall be published, and tina
any citizen of the State, or any person interested
may make opposition, which shall be heard and de
: termined by the Judge"
e 1t is perfectly obvious that, even without oppc
c siton from any source, we should reach the ems,
{ ing winter before getting through with these al
;, vertisements and formaties, because after Obtain
l, ing the charter, are prohibited from common
/. ing to act under it, until thirty days adverts
: ment shall have been made of the list of subscI
II bers, and some weeks at least must be occupied
procuring subscriptions. If opposition be ma,
e By any one individwai in the State, it is imposs
BILE to say, with certainty that could act in lie
st than eighteen months or two years.
The sixth section prohibits the appropriation
y property by railroad companies without the expire
authority of the Legislature, previously obtained
10 and the twenty second prohibits "entering in
the limits of any city, or Incorporated town, wit
III out the sanction of the authorities"
or So that if single proprietor the line refus
- passage, although offered the full value of
d land, a municipal corporation refuses an ent
to into its limits the work must be stopped.
es The seventh section requires ttcemty per cent
y, be paid by each subscriber, on the amount of
subscription, in cash at tile time Of suJscripttc
II, This at of all hope of subscription fir,
the country, where, as is well known, farmers a
,r planters receive their revenues but a year
~ gathering the crops it would reduce the subscr
ton in town to less than one-fourth of what wo
ar otherwise be taken. 1t requires, on a capital
a, one and half two millions, an immediate ca
Va payment of three to four hundred thousand dola
tn which would be unproductve for many months,
IN not more than one-sixth of that sum would
ia required for preliminary expenses in surveyor
". locating, advertising for and making contracts Ell
o. all of which must be done before beginning wo
N. on the road
The tweniy-third section gives to the muni
ne pal authorities of the parishes cities or town
is where such corporations exist the right of dete
ev mining the rates of toll OF fees And the twent
ne fifth section declares that the agreement for t
AS corporation, when made, shall not be construed
t" interpreted a contract with the State, but tn