New Orleans Republican., 1868-10-14
Laws OF IHEsTATE OF LOUISIANA
PUBLISHED BY AUVHoRITY.l
me. lss.
AN ACT

To incorporate and Establish the new Or'
leans News Association.
SECTION /. Be it enacted by the Senate and
House of Representatives OF the state OF
that Paul Tulane, John Grant, John Me-
Donegal, Richard Lloyd, A. B. Bacon, James
u. s I1nders, L. i. Generes, DR.. w. N. Mer-
Ger, Jules A. Blanc, their associates and sue
cessors, and such persons as together with
them shall under this act become stock
holders in the company thereby created,
shall be and are hereby declared to be
body corporate and polite under the name
and style of the New Orleans News Associa'
tlon, and as such it shall have perpetual
succession, and may have common seal,
and plead and be implesded in any court IN
| Ghis State.
SEC. 2. Be it further enacted, etc., That
the capital stock of said company shall be
two hundred and fifty thousand dollars,
| with the privilege of increasing the same 10
one million dollars, by filing with the Secre-
tary of State lresolve If the Directors of
said company, attested by their President,
under the seal of the company, declaring
what additional amount of capital, within
said limit, they shall then desire to add
thereto, aud this they may continue to do
until the said amount of one million of dol
lars shall be attained in the amount of origi.
nal value aud cost of shares in said com
pany but this shall not limit the possible
the said company.
| SEC. 3. Be it further enacted, etc., That
| each share in said company shall be of the
| original value and amount OF twenty-five
| dollars, four of which shall give vote in
all elections by the stockholders, which may
| De given in person or by proxy in such form
and manner as may be prescribed by the
Board OF Directors; said shares may be paid
| Tor in services whenever the Board of
| Directors may SO permit and upon such
terms as they may prescribe; assignE. ents
hereof, to be valid, must be made on the
| books of the Company and not otherwise,
and subject TO all torfeitures, fines, offsets,
or other claims due to the company, and in
snch mode and manner as the Board OF
ID rectOrs shall prescribe. Subscriptions to
tle capital stock of said company NAV be
received by the herein named corporators
or by majority of them, or by such person
or persons rs may be authorized by them or
by a majority Of them to receive the same
on their behalf, and no person so subscrib-
ing shall have vote thereon until he shall
have paid or secured, to the satisfaction of
majority of said corporators, until
directory Is chosen, and to that of the
directory afterward, the amount so subscrib.
ed or such portion thereof as he shall offer
to vote upon, and they shall have the right
to prescribe the amount of installments to
be paid on shares and the time of paying
them, and to declare the forfeiture of the
sum so subscribed upon which the INSTALL
ments are not paid comfortable thereto.
Said company may go into operation when
ever one hundred thousand dollars shall be
subscribed and one-tenth of that sum paid
in or secured to their satisfaction.
Sec. 4. Be it further enacted, ETC., That
the affairs of the said company shall be con-
Quoted by Board Of DIRE ctors, the above.
named corporatoTs acting as such until sue
cessors are elected, and unless otherwise
fa1 osr lslo,4r L.
of five members, to be stockholders, from
and after the first election, which shall be
held annually, and when and where shall be
determined by the stockholders at the first
and subsequent annual meetings. but the |
number of the members of said Board of |
Directors may be increased or diminished |
by the stockholders, as they may see fit; at |
all elections and meetings Of STOCKHOLDERS |
majority in paid up shares must govern and
be essential to carry any election or question
requiring decision by them.
SEC. 5. Be it further enacted, etc., That
the said company shall establish in the city
of New Orleans newspaper, to be published
al a rate Of price not to exceed two and one.
half cents for each daily issue of the same.
and such weekly, molthly or other issues
periodical or otherwise, as the directors |
thereof may see fit, may enter upon
and conduct the manufacture of paper, |
or other things whatever either alone or in |
way establish and take part in lines of tele |
graph or other communication, and in gen.
eral may do all other things which bodies |
corporate and polite or natural persons |
may do and to maintain the same and in |
the exercise Of the powers herein granted |
may acquire oy purchase, gift. exchange, |
devise or in any other lawful way any |
moveable3or immoyeAble property, and may |
receive, buy, take, emit, make, issue, sub |
scribe to, receive assignments of or other. |
wise acquire any share or shares of stock or |
stocks, bonds or coupons, bills of exchange,
promissory notes, subscriptions to stock,
script, money or other chas es in action v h al
ever and the same and such things NAV ,t
will through the Board of Directors of said |
company, or their duly authorized agents
lease, grant, bargain, sell, convey, loan, ex-
change, discount, or alien as the case NAV
be, TO such person or persons as they NAV
Sc mt, and may make or receive deposits or
pledges under such regulations as shall be
oy said company made respecting the same;
aud the said company may receive from
and execute to the stockholders thereof or
their emf loyes or other dealers with them
any trust or trusts, may grant annuities to
them or any Of them and may insure them
or any OF them or cause them to be in
sured, or any other person in whom they
may have or may take an interest, against
any and all accidents and losses whatever
OF life, health. strength, property, or estate.
Provided, that in all such cases such now.
ers shall be executed by the Board Of Di-
rectors OF said company or by agents by
them duly authorized thereto.
FEC. 6. Be it further enacted. etc. That
said company shall pay such tax as shall be
levied by the State of Louisiana dd udLog.e7n
upon real estate and goods and chatteIs and
no other. But should at any future time
such manufacture, mechanic, arts or other
business In which it shall be engaged, when
conducted by any other company or indi.
vidta', have exemption upon any of the r
real estate, goods or chattels. then the COM
pany BY this act created shall enjoy like OK.
emption.
SEC. Z. Be 1t further enacted, etc, That
should any Of the corporators named In the
first section decline 70 accept or act under
the same, 1t shall be competent for the resi-
due Of them to proceed and organize the
company under the same.
SIG. :. Be It further enacted, etc, That
this act shall take effect and be in force
from and after Its passage.
(Signed) CHAS. w. LOWELL,
Speaker Of the House of Representatives.
(Signed) OSCAR j.. DUNN.
Lieutenant Governor and President of the
Eenate.
Approved September so. 1865.
(Signedl II. c. WARMOTH,
Governor Of the State of Louisiana.
"A llu6 cODfs /