The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-10-04
LAWS OF LOUISIANA.

AND TEXAS RAILROAD COMPANY.
wHEEEAs, The vicksburg, Shreveport an
Texas Railroad Company did, on or about th
railroad. extending from the Mississippi river :
the line Of boundary between Louisiana an
Texas, with its rights OF way, lands, property
franchises, rights, appurtenances, water stations
warehouses, depot and depot grounds, and all tn
buildings, structures and improvements, and tn,
cars, locomotives, engines, wagons, machinery
fixtures. utensils implements and effects general
Of every Dature and description whatever In US
upon said railroad, or in any way attached or sp
pertaining to the same, etc. and
WHEREAS, All Of said described property
rights, privileges and franchises were sold a
sherihs sale under an order of seizure and sail
granted under said mortgage,
sEcTIoSl. Bet enacted by he Senate and Hous
OF Representatives. of The State of Louisiana {,
General Assembly conUened. That Messrs. job
Ray, William r. Gordon, John T. Ludeling, Wesley
J. Y. Baker. Francis p. Stubs, George @. wsd
DELL James U. Horne and VIM. M. Pinkard, pur
chasers at the sher's sale of the property OF the
Ficksburg. Shreveport and Texas Railroad Com.
pany, on the third day of February. 1866. be aud
they are hereby declared to have all the rights
and powers which the Vicksburg, Shreveport and
Texas Railroad Company had, and such others az
are herein granted. They may sue and be sued,
plead land be implicated, and do and perform
all other acts, and exercise all the rights and
privileges incident to corporation.
sEc. 2. BE further enacted, ETC., That the
persons aforesaid, and their assigns are hereby
specially created into body corporate and poll
tic for the purposes Of constructing, maintaining
and operating q railroad and q magnetic telegraph
on the line thereof from the Mississippi river in
the parish Of Madison, westward through the par.
ishes Of Ouachita and Caddo to the Texas State
line. The said road to be used for the purposes
OF transporting freight Of every kind and psssen-
gers. The railroad shall be constructed on such
scale as shall serve for q man trunk of continu
Gus line OF communications westward 10 the Paci-
&c ocean.
SEC. 8. Be IL further enacted etc., That the
name and title Of said corporation shall be I" The
North Louisiana and Texas Railroad Company,u
and its domicil shall be in the town Of Monroe,
in the parish Of 0uachita, State of Louisiana.
SEC. A. BE IL further enacted, etc., That the
capital stock Of said company is fixed at six mil
lions of dollars divided into sixty thousand shares
of one hundred dollars each. ..... u NJ
SEQ. s. Be Il further enacted etc., That the
business OF the corporation shall be conducted ct
its domicil, in the town of Monroe, in the parish
Of Ouachita. State Of Louisiana, by a board of
directors. The board of directors shall be COM
posed Of nine stockholders, five of whom shall
constitute quorum for doing business.
SEC. 6. BE IL further enacted. ETC., That the
president Of the company is the officer designated
as the person whom legal service Of all process
against the company may be made and said ser.
vice may be made on the president In person, or
left to his address, at the Office Of the company at
its domicil. with any Tits officers.
SEC. ]. BE Il further enacted, etc., That the
board OF directors shall be chosen by the stock.
holders at the domicil of the company annually.
on the first Monday in October. But failure to
elect directors at any time shall not dissolve the
corporation, but the board ia Office shall continue
TO exercise its functions until new board can be
elected. AL meetings OF stockholders shall be
notified by publication thirty days ia advance
Of the corporation The s election Of S aGSs
shall be held by three commissioners, TO be
elected by the stockholders within ninety days
from the PRONUNCIATION Of this act. All subsequent
elections shall be held by TIL ee commissioners 10
" boa I'd NJ l.
elections by and at all meetings of the stockhold
ers, each share shall be eftitled to one vote.
votes may be cast In person Or by proxy. A ma
jOry of the votes cast shall lie necessary TO elect
Any vacancy In the board Vt directors may be
filed by the directors.
SEC. 3. BE Il further enacted, etc., That the
board Of directors shall elect one Of their body
president OF the company, and they shall elect q
secretary and treasurer from among the stock.
holders Of the company. These officers shall be
elected annually on the first Monday of October,
but in of failure to hold an election on said
day. they shall continue in Office until their sue
cessors are elected and qualified. The board Of
directors shall require the treasurer to give bond
and security In such amount as may be fixed by
the bylaws OF the compant. They shall have
the right 10 fix the compensation of these officers
and TO remove any OF them by O vote of three |
fourths of the board Of directors.
SEC. 8. BE FURTHER endctet etc., That the presi-
dent and directors of said CO. porstion shall have
power to do everything necessary for the const-uc.
railroad aforesaid, with many tracks as may be |
necessary to determine the terminus thereof on |
the Mississippi river, and the location of the rail.
foad westward through 0aachita and Caddo
parishes to the Texas.State line, and to make or
construct all works whatsoever. which they may
deem necessary for the proper completion and /
working Of said railroad. They shall have the
right TO construct and use magnetic telegraph |
the power to make all contracts necessary fortae
purposes aforesaid, and to purchase all property
deemed to be necessary or useful for the
purposes of the company. They shall have
order and protect the iuteresf of said company on
said railroad and said policemen shall have ali the
powers and authority vested in policemen in the
city Of New Orleans. They shah have power to
charter and property of any railroad company,
within or without the limits of this State AMI to |
make all contracts in relation thereto which they
may deem necessary. They rhal have the power
They shall have power to borrow such sums Of
money as may be required 70, the construction of |
said railroad, provided that tie amounts borrowed
do not exceed six millions of dollars and to Sc
cure said loan or loans BY mo-tgagng the proper.
In part, as well as ali the franchises rights and
privileges Of this corporation and shall only be
TO record the mortgage or mortgages
executed oy the company in the office of the re-
corder of mortgages in the parish of Ouachita,
wherein is situated the domieil of the company. |
and such mortgage need not be transcribed ia or,
der TO continue ii In force. The president and al.
fectors OF the company. when authorized to do so
BY vote of three fourths Of all the stock, shall
have power to lease or sell the charter of the
company, with all its franchises. rights and priv.
lege sand all the property OF said corporation or
my portion thereof TO any corporation or to any |
Individual or individuals, within or without the
state.
The board Of directors shall be authorized 10 ,
contract for work, materials and property for the
Use OF the company, payable in whole or in part I
u stock. ,
SIC. 10. BE further enacted, etc., That the
Sorth Louisiana and Texas Railroad Company |
hall have the right TO construct and operate a |
abroad and magnetic telegraph from the Missis.
ippi river, In Madison parish, westward through !
he parishes of Ouachita and Caddo, the Texas
,tate line, and such branch roads as the company
nay deem necessary.
SIC. IL. Be Il further enacted, etc., That when.
ver five miles Of said North Louisiana and Texas
railroad shall have been completed and con. ,
tructed, with the iron track thereon laid, and in
,ood running order from the Mississippi river
westward, and the fact made known to the gov
rnor OF Louisiana in written certificate of the |
PRESIDENT, supported BY the sfidavit of the engin-
or M aaid | .