The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-09-23
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mo IS
AN ACT TO INCREASE THE REVENUES OF THE STATE,
AND TO AUTHORIZE THE INCORPORATION AND
ESTABLISHMENT OF TIE LOUISIANA STATE LOT
Terry COMPANY, AND TO REPEAL CERTAIN ACTS
NOW IN FORCE.
SECTION l. Be IL enacted by he Senate and
House Of Representatives Of tie State Of Louisi-
ana In General Assembly concerned, That whereas
many millions of dollars have been withdrawn
from and lost to this State by the sale of Havana
Kentucky, Madrid, and other lottery tickets,
policies, combinations and devices, and fractional
parts thereof it shall hereafter be unlawful to
sell, ener or expose for sale any Of them, or any
other lottery, policy or combination ticket or
tickets. devices or certificates, fractional parts
thereof. except in such manner and by such per.
sons, their heirs, executors, and assigns shall
be hereinafter authorized.
SEC. 2. Be IL further enacted, etc., That the
following named persons, towit: Robert Blooplsr.
Jesse R. Irwin, John Considine, Charles Il. Nor
ray, F. F. Wilder, G. I. Howard, Philip N.
declared corporation for the objects and pur.
poses and with the powers and privileges herein
after specified and set forth.
ARTICLES OF INCORPORATION.
ARTICLE l. The name and title of this corpora
ton shall be the Louisiana State Lottery Com
paDy, and the domicil thereof shall be in the
city of New Orleans, State of Louisiana.
ART. 2. The objects and purposes OF this cor
poration are:
First-The protection Of the State against the
great losses heretofore incurred by sending large
amounts of money to other States and foreign
countries for the purchase OF lottery tickets and
devices thereby impoverishing our own people.
second-To establish solvent and reliable
home institution for the sale of lottery, policy
and combination tickets, devices, and certif-
Gates, fractional pats thereof, at terms and
prices in just proportion to the prizes to be
drawn, and TO insure perfect fsirness and justice
in the distribution of such prizes.
Third To provide means to raise fund for
educational and charitable Purposes for the citi-
zens of Louisiana
ART. 8. The capital stock of this corporation
shall be one million (sl ,000,000) dollars, repre-
scented by ten thousand 100000 shares of one
hundred dollars each.
ART. 4-sEor1oN l. The company shall have
bred thousand $500 00o) dollars of the stock is
subscribed and paid In.
SEC. 2. All power Of the corporation shall be
vested in Board of Directors TO consist of seven
persons, each of whom shall own at least ten
shares of the capital stock.
SIC. 8. The corporation shall have the right to
sue and be sued, TO plea and to be impleRded, and
10 appear in any court Of justice and to do any
other lawful act such as any person or persons
might do for their own defense, interest and
safety. ....
SEC. 1.-The president of the Board of Directors
shall be the proper person upon whom to serve
citations notices and other legal process wherein
this corporation may be interested.
ARTICLE 8. Section /. The corporation shall
pay TO the State Of Louisiana the sum of forty
thousand ,000) dollars per annum, which sum
shall be payable quarterly in advance from and
after the first day of January, 1869, to the State
auditor, who shall deposit the same in the treas.
uTy of the State, and which sum shall be credited
to the educational fund; and said corporation
shall be exempt from all other taxes and licenses
of any kind whatever from State parish of mum.
cipal authorities.
SIC. q The corporation shall furnish bonds to
The auditor in the sum Of fifty thousand dollars, as
security for prompt and punctusl payment Of the
sums set forth in the preceding section.
Art. 6. The Board of Directors shall have power
TO establish many agencies as may be necessary,
and to appoint president, superintendent, Sec
rotary, treasurer and such clerks and agents as
may be required, and may remove them at pleas.
ure, fix the salaries Of all officers and employees of
the corporation, and the amount of the securities,
and shall make and establish such rules and oy
laws for the proper management and regulation
Of the affairs of the corporation as may be neces
saTy and proper.
majority of said board shall be necessary to
constitute quorum, as also to elect or remove any
officer or employe.
The board shall have power to fn any vacancy
that may occur by death or resignation.
ART. / Each stakeholder at all meetings for
the direction, or for other purposes, shall be en-.
titled directly or by proxy to cast one vote for
each share Of the capital stock held by him; all
transfers of stock shall be made on the books Of
the corporation.
ART. 8. The aforesaid named persons 10 Sec
ton second of this act shall be and are hereby
constituted the first board of directors, who shall
at their first meeting appoint any one Of their
number president, and the said board shall serve
for two years from the LIST Of January, 1869, and
thereafter, until their successors are elected and
gualifed;at the expiration Of which time injecting
Of the stockholders for the election of board OF
directors shall be held, and q day fixed for all
elections thereafter.
A two.tbirds vote shall be necessary to coust
tute en- election, and if no election is had the
meeting shall adjourn over for one year.
Sec. 3. And be Il further enacted. That any
person or persons selling OF Offering or exposing
for sale, after the Slst day of December, 1868,
any lottery, policy, or combination tickets, de-
vices, or certificates, fractional parts thereof
In violation Of this act and of the rights aud priv
ileges herein granted to this corporation, shall
be liable TO said corporation in damages 10 a sum
not exceeding I've thousand nor less than one
thousand dollars for each offense, recoverable by
suit before any court Of competent jurisdiction.
SEQ. A. BE Il further enacted, etc., That this
corporation shall be and continue for and during