New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-08-09
NEW ORLEANS SUNDAY MORNING, AUGUST 9. 1868

of Mr.. Ray further reading Of the bill was
dispensed with.
On motion of Mr.. Ray the bill was taken
up section by section.
The first, second, third, fourth, fifth, and
sixth sections were read and adopted.
The seventh section was read.
Mr.. Couplsnd moved to substitute the
word ''twop for the word three" in line
six.
The me tion was lost. r
On motion of Mr.. Lewis the seventh sec.
ton was adopted.
The eighth section was read.
Mr.. Bacon moved to strike out all of line
thirty, and insert the words passage of this
actn
Mr. Bacon's amendment was adopted.
On motion of Mr.. Lewis the eighth section
was adoI te as amended.
The ninth, tenth, and eleventh sections
were read and adopted on motion of Mr..
Lewis.
| The twelfth section was read.
| Mr.. Foute moved to amend the section by
striking out all the words after the word
+. "act," in line ten, to the word ''and, at the
, beginning of line twelve.
Mr.. Foute's amendment was adopted
| On motion of Mr.. Foute section twelve was
I adopted as amended.
I Sections thirteen and fourteen were read
] and on motion Of Mr.. Lewis were adopted.
Mr.. Foute asked for q suspension of the
rules to put the bill on its third reading.
The rules were suspended and the bi /
/ read.
On motion of Mr.. Foute the bill was
passed finally as amended, and adopted by
/ its title.
| The bill as amended is as follows:
An act to incorporate the New Iberia, Yer.
| millionyille, and Texas Railroad com
| papy.
J WHEREAS, 1t is of vast importance TO the
interest aud prosperity of the State of
Louisiana aud the city of New Orleans that
| a railroad should be built from New iberia
! or Vernil illionville, Louisiana, to the Sabine
river, III Louisiana, so as to complete the
connection between New Orleans and the
State of Texas; therefore,
| SECTION l. Be it enacted by the Senate and
House of Representatives. of the State of
Louisiana IN General Assembly conv, ned,
That j. H. Oglesby, Jacob Hawkins, s. B.
Packard, NJ. A. Southworth, Ebert CAN'T,
| David Hadden, Joseph Ellison, John J. Sar
Vile, Philip Buchanan, and their success
sors be and are hereby created body cor
porate, under the name and style of
" The New iberia, Vermillionville, and
| Texas Railroad company and are hereby
| authorized to construct single or double
track railroad from the Bayou Teche, begin.
! ming ut point in or near the town of New
| Iberia. louisiana to the Sabine river, or
beginning at point at or near the town of
| Vermillionville, with privilege to connect
with the New Orleans, Dpelousas, aud Great
| Western railroad by the nearest, best, and
most practicable route; and said corpora
tion Is hereby invested with all the powers,
rights, privileges, and imnuuities Incidental
and essential to such corporation, under the
| laws of the State OF Louisiana.
| SEC 2. Be it further enacted, etc., That
the said corp ration is hereby empowered
to locate, build, work, manage, repair,
pledge, and transfer the said railroad, and
to do and to perform all such acts, make
such contracts, and employ such agents as
| they may deem necessary and proper to
carry into effect the full intent of this act
Seq, 8 Be it further enacted, etc. That
the capital stock of said company shall be
fixed at five millions of dollars, in shares of
| one hundred dollars each, with the power
to increase said capital stock to ten millions
| of dollars.
That each share shall entitle the owner
| LueTtOl 10 one vote, tltnSr IN person OF Oy
| proxy, for directors Of said company: Pro-
| V1ded, That after the first election, he shall
| have owned the same for three months next
preceding the day of election, and that the
ownership of at least fifty shares shal4 be re-
| quired to render a stockholder eligible for a
director of said company.
| SEC. 4. Be 1T further enacted, etc, That
the number of directors shall he nine, who
shall be elected immediately after and not
| until one-fifth of the capital stock shall have
| been subscribed.
The Board of Directors shall select one of
their own members for President.
The directors shall hold their offices for
one year from the date of election.
There shall be one election annually for
Directors of said Company, to date from the
first election.
The President and Directors shall elect a
Secretary and Treasurer, and adopt such
rules and regulations as they may deem
necessary for the government of the Com
pany and the good management OF the road.
SEC. s. B. II further enacted, etc, That
the said Railroad Company shall have a
seal, the right to sue aud be sued, and its
domicil shall be in the city of New Orleans,
Louisiana, where its offices and books shall
be kept, and where ali proceedings OF the
Company or Board of Directors shall be re-
corded, and where all process shall be
served.
The President of the Company being de,
clared the proper person upon whom all
process shall b. served and the office of the
Company his domicil for that purpose.
SEC. 6. Be it further enacted, etc, That the
aforensmed corporators and other three
stockholders to be chosen by them are hereby
constituted Commissioners, and empowered
to act as such until said corporation is duly
organized according TO law, and as such
they are authorized TO open snbscription
books and appoint subscription agents in
the city of New Orleans and elsewhere.
That the said Commissioners shall deter
mine by vote, each having one vote, the
an o mt of the first installment, and when il
shall be paid.
/ Aud it shall further be the duty of said
Commissioners upon giving thirty days no.
tice, to hold an election for first Board OF
Directors, as provided in section fourth OF
this act.
SEC. Z. Be it further enacted, etc, That
the right OF way is hereby granted through
any and all lands owned by the State OF
| Louisiana to said Railroad Company, to the
distance of three hundred feet on each siGe
of said railroad. Said New Iberia, Vermil.
| lionville, ana Texas Railroad Company ia al 50
| hereby authorized and empowered to take
| and to use for construction purposes such
timber aud ther materials upon any of the
lands owned by the state OF Louisiana as
they may see fiI. tn the distance of one mile
on eat il side of SAID railroad.
SEQ 8. Be it further enacted, etc, That
| whenever FIVE miles of said New iberia,
/ Vermil iOuYiile, aud TeXts Railroad shall
| have been constructed aud completed, with
the iron track thereon laid aud in running
order, and the fact made known to the
Governor of the State of Louisiana, in
| written certificate of the President, sup
/ ported BY the affidavit of the engineer Of