Le Louisianais. [volume] (Convent, La.) 1865-1883, 1869-06-19
No, l2s I
AN

10 incorporate ami establish the New Ofean
News Association.
sfcTroS !. b 4 enacted 1y he Senate IN,
H'aSe q Representatives. IF the Siafe N Loai-
s'Hna IN General assembly conrsned. Tina,
fahl %lniate, john Grant, John McDoncaj
h'chatd Lloyd, a. B, Bacon. James N
sanders, L. F. Generes, Or. w. N. Netre,
'"'eS "A. bIaiic, their associates and successors
and such persons as together with them sLal,
under Tins act become stockholders in M
company thereby created, sluii be and are
hereby declared to be a body corporate and
polite nnlet the name and STYLE Of the Nav
o'seahs News ASSOCIATION, and as such i,
shai' have perpetual sEccrssion, and may
nave a common seal and plead and be
'tnp'eaded ~ any cour, in Ills State.
Sec. .. Be il fnt'her enacted. etc. Thai,
.'' capital STOCK OF sand company shall be two
hundred and fifty thousand dol ars, with the
privilege OF increasing The same 10 one million
'oiiafs, by hing with The Secretary Of State a
resolve II The directors OF sad COMPANY atie-,eJ
~ ihe'f president, under the sea oil tie CON.
. ahditiotiai aIlDuN' OF ca "a
tAi,"ltt'n said limit, they shall then desire 10 adj
%lAeFe'", and this they may CONTINUE 10 do until
me SAID amount Of one million Of dollars shah.
De attained in the nmonAt Of ofiginaI vain.
and cost Of shares in SAID com,,uv h,, ,b;s
snail not limit the possible accumu alton and
'ainf O property Of said company.
SEC. 3, Be Il Ju1t4er enacted. ETC., Tha,
each share in said company shall be oi the
original value and amoun, of TWENTY-FIVE
%do''aEs, four OF which shall give a vote in ali
elec'ons ~ the stockholders, which may be
gwen IN person or by PROXY in such form and
manner as may be prescribed by the board of
directors; said shares may be paid for in
services whenever The board Of directors NAV
so permit and upon such terms as they NAV
prescribe; assignments thereof 10 be valid
must De made on the books Of the company and
Otherwise, and subject 10 all fotfeitures
mes, Offsets, or other claims due 10 The
company, and in such mode and manner as the
BOARD OF directors shall prescribe. Subscrip-
Mons TO the capital stock of said company NAV
De received by the herein named corpora,ors
Or by a majority of them, or by such person
u persons as may be authorized by them or
~ a majority Of them to receive the same OF,
.he'r behalf, and no person so subscribing Shall ,
nave a vote thereon until he shall have maid
secured, to the satisfaction of a majority of
cofporators, until a directory is chosen,
'na 10 that OF the directory aflerward, the j
mount so subscribed or such portion thereof f.,
$ ne s;iai' otter 10 vote upon, and they shall. $
ave the right 10 prescribe the amour, of i,
tailmeni 10 be paid ON shares and the time j.
paying them, and to declare the forfeiture of :.
lie sum SO subscribed upon which the INSTALL ,
tents are not paid conformable thereto, Said !,
omPany may go into operation whenever one :
nhdred thousand dollars shall be subsc rihsd :
nd one'tenth Of that sum paid in or secnred '
} their satisfaction. y
Sec 4. Be il further enaclsd, etc., Tba, n
lie affairs OF the said company shall bo
oy a board of directors, the above ;,
lined corporators acting as such until success. r
'fs are elected, and unless otherwise directed
Y the stockholders; it shall consis, Of fvo
TO be stockholders, from and after the
rt election, which shall be held aupuallv
M when and where shall be determined h.,
'e stockholders at the first and subseouen,
nnua' meetings, but the number of The
TENDERS Of said board of directors NAV be
'creased or diminished by the s,ockboIder.
> they may see fit; at all elections and
lettings OF stockholders a majority in maid I'm
lares must govern and be essential 10 ca-rv
~ election or question requiring decision bv n
EN-. r
Sec. 5. Be it further enacted, etc., That
g sad company shall establish in the city of
CIV Orleans a newspaper, to be published at i
rate OF price not exceed two and one.h.lf 8;