New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-04-10
,rup R,IrnoAp MEETING TODAY.

1
meeting Of the stockholders Of the New Or.
leans, Jackson and Great Northern Railroad Com
pany will be held at the Office Of the company to-day,
corner Of Union and St Charles streets, over the
Bank Of New Orleans, between the hours Of O'CLOCK
A. NJ. and O'Clock P. NJ for the purpose oil accept
ing or rejecting act of The last Legislature sp-
proved on the 18th day Of March, lSos entitled AN
act tn authorze the Governors of the States of Lou
isiana and Mississippi to vote at all meetings Of
stockholders Of the New Orleans, jackson and Great
Northern Railroad Company upon the shares of stock
| in said company held by said States"
Although the act in question has been officially
published in all Of the journals Of the city, clear
synopsis of it may not be out of place at the present
moment when some excitement and considerable
difference Of opinion in relation to the future policy
OF this great work OF internal improvement is pre-
yailing and upon the wise reconciliation of the one
and iudcious determination of the other, suspicious
nauspicious results, to greater or less degree
unquestionaby depend.
The first section provides that the Governors Of
the two States mississippi and Louisiana) shall have
the right to vote at all meetings of the stockholders,
and at all elections for directors, the number Of
shares Of stock held by each State respectively, on
the same terms and conditions as are prescribed by
law for individual stockholders and that they may
do the same either by person or proxy.
The second section declares that when the STATE OF
Mississippi shall provide by law for the appoint
ment Of three directors in said company wnicn sao
State is hereby authorized to DO the right oil sad
State to vote for directors snail cease ana tnat
then the right OF louisiana 10 vote upon ner STOCK
shall also cease, ana .nat 'ne governor snai pro-
ceed 10 appo'n' snleo u'eo.ois III s"u eompauy ao-
eoiaing 70 Inc nianDer anu 'ofn no" presolipeu W
law.
Inc tniru SECTION specines tna' tne ac' snah ne
puolished; ana tnat' II stocknoiaers Representing
thfee-iouftns OIL tne amount OF the STOCK, accept
this act' tne same shaii De wand ana onoing upon
saiu company as part Oh tne charter Of said com
pany ana IL Is also PROVIDED tnat 'at tne election
70 pc ned ior the acceptance or rJecuon OF 'ns acs
the Governor SHALL In person or oy proxy cas-. Tue
vote oil this State, and the Mayor OF the cy OF New
Orleans in person or by proxy shall cast the vote
Of said city, itH
Here, In briei' Is an accurate synopsis OF 'ne law
IN question: ana nom IL the reader can derive an &C
curate knowledge OF Its merits and dement's In the
premises.
The questions then, that ARISE are shall the law
OF the last Legislature be accepted BY the stoekhod
ers or rejected by the stockholders Shall the GOV
ernor vote to accept or 10 REJECT or shall the Mayor
representing two millions OF Stock vote to accept or
to reject These are the main questions at issue
For our part, after duly considering the subject in all
its phases, and speaking the wishes Of large ma
jorty Of the stockholders in this city, as we believe
both individual and corporate, we say unhestatingy
that the law should be accepted.
We shall not argue the point why the law should
be accepted. The reasons are patent, wellknown to
the community. In the first place, the acceptance
only accompishes right and just objeet-paces the
two states interested on more direct footing OF
equity than they were before. In the second place,
il Mississippi agrees to appoint three directors Lou
siana agrees to do the same thing and the right Of
voting upon State stock becomes merged in the ap-
pointment OF directors. And, in the third place, it
is probable the bone of contention between the ex-
tensionists and non.extensionlsts Of the road in
ENTHUSIASTICALLY direction beyond Canton, Missis-
slppi, would be removed for the present.
That the company have agreed to build the road
in that direction no one disputes That they should
do it, if they were able, is equally clear. But are
they ables No. The obligations maturing at an
early date will ahaorh reliahla rasonrree