The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-10-16
mo. ISL


6ro. e. BovEz. Secretary Of State.
mo. ISL
AN ACT TO INCORPORATE THE NEW ORLEANS AND
SHIP ISLAND CANAL COMPANY.
SECTION 1. Be IL enacted by the Senate ana
House of Representatives Of the STATE Of Loutss-
ana in General Assembly conuened. That George
+. Brott, Lionel A. Sheldon, Charles Dillingham;,
Gardiner Banks, Ernest De Blanc, Michael Hahn,
William E. Read, and all persons who shall or
may be associated with them and their success.
ors, are hereby created and formed into body
corporate and polite In deed and 10 law, by the
name, style and title Of the "New Orleans and
Ship Island Canal Company" end by that name
That after the lapse Of hfty years the State Of
Louisiana shall have the right to purchase the
said canal and appurtenances thereto belonging
by paving to the owners thereof just compensa-
to Ss the psd Ss the gate de
mined by referees, to be selected In the usual
manner, and shall. be able to sue and be sued,
plead and be implicated, defend ana De defended,
courts Of record in the State Of Louisiana. Ser.
vice Of process from any said courts against said
company must be made upon the president,
secretary or treasurer Of said company to have
q common seal, and are invested with ell the
powers, rights, privileges and immunities Incl
dental and essential to such Q corporation under
the laws OF the State Of Louisiana and the said
corporation IL hereby authorized and empo wered
to lay out locate and construct furnish, maintain
and enjoy. q continuous canal and telegraph, with
the appurtenan from point on the left bank
of the Mississippi river, tdescending) In the
parish of Jefferson. thence through the corporate
limits of Carrollton, cities of Jefferson and New
Orleans, In as direct Q route as practicable north
of Broad street, in New Orleans. to the Rgolets,
near the outlet of Lake Catharine, thence to
Ship Island. The capital stock Of said com.
pany shall be six million Of dollars, which
may, by q vote Of the directors, be increased to
ten million of dollars, in shares of one hundred
dollars each. and shall be transferable In such
manner as the by laws OF the corporation may
provide each share shall entite the owner thereof
to one vote, either In person or by proxy, for
directors of said company, provided he shall have
owned the same for three month next preceding the
day of election, and thatthe ownership OF at least
one hundred shares shall be required 10 render
stockholder eligible to become director OF said
company. The number of directors shall be
seven, any four OF whom shall constitute aquorum
for the transaction OF business. The persons
named in this section shall constitute the first
board of directors from the passage OF this act TO
the first Monday in January, eighteen hundred
and sixty nine, and until their successors shall be
elected, which election shall be held on the hrst
at the Office Of said corporation. In the city OF
New Orleans between the hours Of one and three
p NJ of that day, notice having been given In two
daily newspapers in the city OF New Orleans for
ten days previous to such election the persons
receiving the highest number Of votes shall be
declared elected directors for the ensuing three
years and until others are elected. 1t shall be
the duty of the directors immediately after the
election to choose one Of their number president,
who shall serve for three years, or until his sue
cessor Is elected. They shall also elect secre'
fary and treasurer, who shall hold their Offices
during the pleasure OF said board OF directors.
The domicil Of the said company shall be In the
SIC 2. Be Il further enacted, etc., That the
directors shall have power to make by laws, rule.
and regulations as they shall deem useful and
proper, touching the disposition OF the stock.
collect and regulate tolls. the transfer OF shares,
the term of office, duties and conduct OF their
officers and employees, and all matters which may
~ apperiain to the concerns of said company; and
the said Board of Directors snall have power to
appoint such engineers, agents and subordinatei
as may from time to time be necessary to carr
into effect the objects Of this act and to do all
acts and things touching the location OF said cana
and telegraph. Said directors may require pay.
meut to the capital stock, after due notice al
such times and In such proportions as they shall
deem necessary to complete the canal and tele
graph within the time prescribed In TINS act. INT
Secretary and treasurer shall give such bond
with such security as the said board shal frou
time to time require. .a..- =. ..t1
sEo. 8. Be IL further enacted, ETC., That u
enable said company to accomplish the purposes
- and objects of this incorporation. the said com
pany is hereby empowered:
First-To locate. construct and build. and there
after TO own, maintain and use ship canal along
the route indicated 10 the FIRST section Of this act
which canal shall be at least one hundred AMI
fifty feet wide on the surface, with the. prope
slopes to the bottom. and to excavate to afford ,
uniform depth Of at least twelve feet throughout
its length with the privilege of widening the SAM
to three hundred feet and deepening. to afford |
depth Of twenty-fye feet Of water; and they arr
hereby required to cause the banks thereof to- bl
made secure and adequate to avoid any danger 3
arise from overflow or breakage.
n. ofok uh ar NM "a
and thereafter to own, maintain and use suitable
wharves, piers, basins, warehouses, harbors tow
bosts, dry docks, (Iocks and foodgates to connec
ssid canal with the Mississippi river bsrges and
other works connected with and Incidental to sait
canal and telegraph and the business of said com
Tbird-Thst the said company is hereby author
lied TO construct and build and thereafter to own
maintain and use branch or lateral canal ex
tending from the main canal TO point at or neal
the Mississippi river, in the City OF Jefferson viii
all the rights, privileges and immunities granted
rs aforesaid to main canal; Prouided, the cor
porate authority of said city shall have the pove
10 designate the route thereof.
Fourth-ro construct. own, maintain and use
lock or locks to connect the said canal with tn
Mississippi river for the passage OF steamboats,
s. vessels, barges and ether crafts; said lock o
locks to be constructed under the supervision o
a competent engineer, together with one to b.
appointed by the city of New Orleans, who sha
concur in approving the construction Of the same
futQ-lO ODtam ouu icOoiscs w fotS.ss>
grant, gift, devise and bequest, and to have an
70 hold real and personal estate to sell, trsnste
and convey the same in fee simple, all such land
feremeuts. hereditaments. as shall be necessar
?. 70 them IN the prosecution Of their works..
6ixth-That said company Is hereby authorize
and empowered to obtain, BY grant or otnerwiss
from any corporation, city or village, within To
State of Louisiana. that may be situated upon i
canal any rights. privileges or franchises that an
of said Incorporated cities or villages may cnoos
to grant in reference to the construction, mai!
tenance and management Of the canal OF sa
company and its appurtenances, and its 6uslne.
within the limits Of such or any OF SAID inco
porated cities and villages; and any such inco
porsted city, village or person hereinbeiol
named. are hereby authorized and empowered
grant to said company any such rights, priviieg!
and franchises as Ii may deem proper and advi
able; and such rights, privileges and franchis'
when granted to. and accepted by said ccmpar
from any such incorporated city, village or perso
shall besdeemed and taken a. rights, priviIeg
aud frapchises vested and confirmed in said cor
paDy, and not liable to be hereafter revoke