The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-09-25
GEORGE E. BovEE,
mo 40l
AN ACT 10 INCORPORATE THE NEW ORLEANS ELEvA.
TOR AND WAREHOUSE COMPANY,

AN ACT 10 INCORPORATE THE NEW ORLEANS ELEvA-
TOR AND WAREHOUSE COMPANY.
SECTION /. Be Il enacted by the Senate and
House of Representatives of TIE State of LOttisi.
ana ia General Assembly conueaed, That Louis
J. Highly, TheroniHigby, Sen Highly, ]. H. 0gIes.
by, Charles Z; slsyback, J. 7. Burdesu, James T.
Tucker, and their associates and successors, are
hereby created body polite and corporate, by
the name of the New Orleans Elevator and
Warehouse Company" and by that name shall
have succession for twenty five years, with CAPT.
tai Of one hundred and fifty thousand dollars in
stock, which may, 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 Il further enacted, etc., That the
capital stock of said corporation shall be divided
into shares Of one hundred dollars each, which
shall be deemed personal property, and shall be
transferable on the books of the corporation in
such manner as its bylaws may prescribe.
Sec 3. Be IL further enacted. ETC., That the cor.
pOration hereby created shall have power to ac-
quire by purchase or otherwise any real estate in
the State of Louisiana, fronting on the Mississippi
river, not exceeding FIVE hundred feet fronta ge on
the river IN any one locality. The real estate so
obtained by this corporation shall not be subject
10 appropriation for any purpose whatever. so
long as the same shall be used for grain elevators,
warehouses, grain dryers, aud uses connected
Herewith, for storage of grain and other commo-
dites, and the said corporation may erect one or
more wharyes, grain and flour elevators, ware
houses. and grain dryers on the lands and wharves
they msy have obtained, and this COZ poration shall
have power and the privilege to connect their ele-
vatoTs, warehouses and dryers, by railway track
snd switch, with any railway track in this State,
first having acquired the right of way from indi-
Vidual owners of property on which 1t may pass,
and the consent of the city corporation thereto;
and when so connected, all grain and other freight
consigned TO this corporation shall be delivered on
saia irapE by .he raii~.y company operating the
QFu
SEC. A. BE JtUtte' enacted, ETC., That this cor.
poration are 10 construct their elevators, ware
houses, and dryers as to allow a connection
between any railway company In this State, giving
them track way over their ground convenient to
said elevators, warehouses and dryers and TO 30
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 dischargDg or re.
eeiviDg any freight consigned to or shipped by
The company from or 10 any foreign or domestic
port at the wharves of this company.
SEC. 5. BE IL further enacted, etc., That this
corporation shall not collect any greater charges
for storage or handling than are customary and
established rates and prices in the city of New
York, and shall be held responsible for all pro-
perty IN their care, but shall not be insurers
against fire or water.
SEC. 6. BE ii further enacted, etc, That this
corporation shall give all necessary receipts for
all property intrusted to their care, and shall de-
liver the same when called for by the holders
thereof, which receipts shall be negotiable with.
out Endorsement, and shall be signed by the presi-
dent and secretary, and stamped with the impress
Of the seal Of the corporation, and likewise all
other instruments of this corporation, which seal
shall contain the device Of sheaf of wheat and
barrel Of -four. sf ~
SEC. Z. BE IL further enacted, etc, That the
affairs of this corporation hereby created shall be
managed by board of seven directors, any four
Of whom shall constitute a quorum for the trans
action of business. The persons named in the
first section of this act shall form the first
board of directors from the date of the passage of
this act until the first Tuesday In January, 1869
and until their successors shall be elected which
election shall be held said first Tuesday In Jan
usTy of each year thereafter, at the off Sc Of said
corporation, in the city Of New Orleans, between
the hours of one ant three O'Clock P. NJ. of that
day, notice having been given ia two daily papers
in the city for ten days previous to the time of
such election. Each share of paid stock shall be
entitled TO one vote in person or proxy, and the
persons receiving the highest number of votes
shall he declared duly elected (provided the same
shall be majority of all the shares of the stock
directors for the ensuing year aud until others are
elected. 1t shall be the duty of the directors i'm.
medately after the election to choose one of their
number president, secretary and treasurer, who
shall serve for one year and until others are
elected.
SEC. s. Be It further enacted. etc., That this act
shall be in force and effect from and after its pas
sage.
Signed CHAs W. LOWELL,
Speaker Of the House of Representatives.
(Signed) OscAR ]. Dunn,
Lieutenant Governor and President of the Senate.
Approved August ~, lS6s.
(Signed) Fl. c. WARMOTH,
Governor of the State of Louisiana.
GEO. E. BovEE,
Secretary of State.