New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-09-04
OFFIOfAL-.--.l0FFIOIAL.
No. 40.
aa ANs.ACT si.Ns5I
To incorporate the New Orleans Elevator
and warehouse COMPANY,

NV akAA1A. \ u
To incorporate the New Orleans Elevator
ana warehouse Company.
SECTION l. Be it enacted by the Senate
and House Of Representatives of the State
Of Louisiana IN General Assembly convened,
That Louis J. Highly, Theron Highly, Sen
Highly, J. h. 0glesby, Charles E. Slayback,
]. T. Burdeau; James 7. Tucker, and their
associates and successors are hereby created
body polite, and corporate, by the name
of the New Orleans Elevator and Ware.
house Company and by that name shall
have succession for twenty-five years,
with capital of one hundred and fifty
thousand dollars in stock, which NAV, BY
the will of the Directors, be increased to
five hundred thousand dollars, and shall be
capable in law and equity of doing all
things necessary to carry out the object for
which said corporation is hereby created.
Sec. 2. Be it further enacted, ETC., That the
capital stock of said corporation shall be di.
vided into shares of one hundred dollars
each which shall be deemed personal prop
erty and shall be transferable on the books
of the corporation in such manner as its
bylaws may prescribe.
Sec. 8. Be it further enacted, etc., That
the corporation hereby created shall have
power to acquire by purchase or otherwise
any real estate in the State of Louisiana,
fronting on the Mississippi river, not eX.
river in any one locality. The real estate
so obtained by this corporation shall not be
subject to appropriation for any purpose
whatever, so long as the same shall be used
for grain elevators, warehouses, grain
dryers, and uses connected Herewith,
for storage Of grain and other commodities,
and the said corporation may erect one or
more wharves, grain and flour elevators,
warehouses, and grain dryers, on the lands
and wharves they may have obtained, and
this corporation shall have power and
the privilege to connect their ele-
vators, warehouses, and dryers, by
railway track and switch, with
any railway track in this State, first
having acquired the right of way from in
dividual owners of property on which it
may pass, and the consent Of the city COR
poration thereto; and when so connected,
all grain and other freight consigned to
this corporation shall be delivered on said
track by the railway company operating the
same, charging customary rates.
SEC. 4. Be it further enacted, etc., That
this corporation are to so construct their
elevators, warehouses, and dryers as
to allow connection between
any railway company in this
State, giving them track way over their
ground convenient to said elevators, ware.
houses and dryers, and to so construct and
accommodate the river interest by giving
all requisite facilities to boats for unloading
grain in bulk or otherwise, and other
freight; and no boat or ship shall be liable
for any wharfage or levee dues to any city
for discbarging or receiving any freight con.
signed to or shipped by this company from
or to any foreign or domestic port at the
wharves of this company.
Sec. 5. Be it further enacted, etc., That
this corporation shall not collect any greater
charges for storage or handling than are
orc t,,t and cd
in the city of New York, and shall be held
responsible for all property in their care,
but shall not be insurers against fire or
water.
SEC. 6. Be it further enacted, etc., That
this corporation shall give all neces-
sary receipts for all property intrusted to
their care, and shall deliver the same when
called for by the holders thereof, which re-
ceipts shall be negotiable without indorse-
ment, and shall be signed by the President
and Secretary, and stamped with the i'm
press of the seal Of the corporation, and like
wise all other instruments of this corpora
ton, which seal shall contain the device of
a sheaf of wheat aud barrel of flour.
Sec. Z. Be it further enacted, ETC., That
the affairs of this corporation hereby crea
ted shall be managed by Board of seven
Directors, any four of whom shall constitute
a quorum for the transaction of business.
The persons named in the first section of
this act shall form the first Board
of Directors from the date of the pas
sage of this act until the first Tuesday
i'll January, 1869, and until their successors
shall be elected, which election shall be
held on said first Tuesday in January of
each year thereafter, at the Office of said
in the city of New Orleans, be-
tween the hours of enc and three o'clock P. |
N. of that day, notice having been given in |
two daily newspapers in the city for ten |
lays previous to the time of such election. |
Each share of paid stock shall be entitled to |
0ne vote in person or proxy, and the persons |
receiving the highest number of votes shall |
be declared duly elected provided the same |
shall be majority of all the shares of the |
'tock) directors for the ensuing year aud |
until others are elected. 1t shall be the |
luty of the directors Immediately after the |
election to choose one of their number Pres |
dent, Secretary, and Treasurer, who shall |
erve for one year and until others are
elected.
SEC. s. Be it further enacted, etc., That
his act shall be in force and effect
rom aud after its passage.
(Signed) CHAS. W. LOWELL,
Speaker of the House of Representatives.
(Signed) OSCAR j. DUNN,
Lieutenant Governor and. President of the
Approved August q, 1868. Il
(Signed) H. G. WARMOTH,
Governor Of the State of Louisiana.
GEO. E. BovEE.
- Secretary of State.