New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-05-24

AN ACT
70 incorporate the Crescent City Gas Light
Company.
SECTION 1. Be it enacted by the Senate and
House of Representatives of the State of
Louisiana in General Assembly convened,
That Joseph H. Oglesby, William Creevy
Francis j. Heron, F. W. Perkins, S. D.
Mcpherson, George F. Sherman, W. B.
Caruell, W. Hswksworth and their present
a:,d future associates, successors and as
signs, be and they are hereby constituted
and declared to be, from and after the
passage OF this act, a body corporate and
polite, in fact and in name, by the style
and title of the Crescent City Gas Light Con-
pany, and by that name they and their sue
cessors shall and may have continual sue
~cession, and shall be persons in law capable
of sueing and being sued, pleading and
being implicated, answering and being an
ewered unto defending ana being defended
IN all courts and places whatever; and that
they and their successors may have COM
mon seal, and may change aid alter the
same at pleasure, and also that they and
their successors by the same name and style
shall be in law capable of holding purchasing
and conveying any estate, real or personal.
for the use of said corporation. Provided,
That the lands, tenements and heredita-
Juents which it shall be lawful for said COR
poration to hold, shall be only as such as
shall be requisite for its immediate accom-
mediation In relation to the convenient
transaction OF its business and the properly
carrying on and conducting of its works, or
such as shall have been mortgaged to it in
satisfaction of debts contracted in the
course of its dealings, or purchased at sales
upon judgments which shall have been OBJ
tanned for such debts.
SEC. Ii. Be it further enacted, etc., That
the capital stock of said corporation shall be
mil nj lar "a
1hirtH thousand shares Of one hundred dol
lars each.
SEC. g. Be it further enacted ETC., That
books for subscription to the capital stock
of said company shall be opened in New Or
Leans, and under the management and
superintendent of the incorpOrators, who
shall fix the time and places for receiving
such subscriptions, giving due notice OF
same through the daily papers, and that
after seven Thousand five hundred shares
are subscribed the incorporators shall call
meeting of the subscribers for the pur-
pose OF electing Board of Directors, whose
term of Office shall be until the first Tues
day OF January following their election as
such; provided that no one shall be elected
q director who is not resident of the State
Of Louisiana, and the owner of one hundred
shares of the stock; provided, further, that
the incorporates shall have power to fix
the per Centum to b.. paid upon subscrib-
ing to the stock, and the time at which fur
Their installments shall be called in, until
the election of the first Board Of Directors,
when this power shall rest with them and
their successors in office.
SEC. 5. Be it further enacted, etc, That
the Office Of said company shall be located
IN New Orleans, that the worksand affairs
of said company shall be managed and con:
Quoted bys board of six directors, who shall
elect one of their own number president,
1nnRShaU q
from and after the first election of directors
an annual election for directors shall be
held on the first Tuesday of each year, due
notice of same to be given by the secretary
Of the company, through the daily papers,
for thirty days previous to the time fixed
for said election; the election to be held at
the office OF the company; each share of
stock to be entitled to vote either by the
owner in person, or byi proxy, and the per- |
son receiving the highest number of votes |
TO be declared duly lelected. The Board of
Directors to fix the compensation of the |
president and other officers and emplyes |
of the company.
If any director shall remove out OF the State |
or cease to be stakeholder, his Office shall |
be declared vacant, and when any vacancy |
or vacancies shall happen among the direC- |
tors, by death, resignation or otherwise, such |
vacancy or vacancies, shall be filled for the |
remainder OF the year IN which they shall |
happen by such person or persons as the re-
naainder of the directors for the time being
or majority of them shall appoint.
Sec 6. Be it further enacted, ETC.. That |
3 majority of the Board of Directors shall
constitute board for the transaction of
business, and shall have power to make and
prescribe such by laws, rules and regula-
lions as shall appear needful and proper;
and shall have the power OF appointing rs
rffs ola Is, AVID of &c 1
be necessary for carrying on the business
and affairs Of The company, allowing them
such salary as they may see proper.
Sec. Z. Be it further enacted etc., That
1alf yearly dividends shall be made OF 30
much of the profits of said company, as the
directors may think advisable, and that at
ZACH annual meeting for the election of
directors the outgoing directors shall lay
1efore the stockholders Il statement of all
ne affairs and concerns of said company for
Aeir information.
SEC. 8. Be it further enacted, ETC., That