New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-03-16
No. 90.
AN ACT


Fibre Manufacturing Company.
SECTION l. Be it enacted by the Senate
and House of Representatives of the State
of Louisiana in General Assembly convened,
That William McYeer and Kate Lowe, F.
Livingston, David R. Lehman, N. r. Lem.
man and G. F. Sherman be, and they are
hereby, create body corporate and polite,
under the name and style of the Louisiana
Reed and Fibre Manufacturing Company"
to have succession for the period of twenty
five (25) years, and, as such corporation,
shall have power to sue and be sued, to inn
plead and be implicated, to buy, hold,
alien, sell and dispose of any personal or
real machinery and material or manufac.
tured, articles, produced in the prosecution
of the business for which this corporation is
created. They shah have and use a COM
mon seal, which they may alter at pleasure.
They may under seal, or not under seal,
make such contracts as, in their judgment,
may benefit said Company, execute promis-
sorry notes, bonds and other obligations, and
have all the powers, lmmunitie5 and prlyl-
leges incident to a corporation.
Sec. 2. Be it further enacted, etc, That
whereas, certain letters patent have Eeen
granted unto the said William McYeer and
Kate Lowe, and their assigns, by the United
States, described as follows, viz: Number
three thousand six hundred aud twenty.
nine (3629), and dsted August thirty-6rst,
eighteen hundred and sixty-nine uS69), and
certain letters patent, issued to Henry
Lowe, which letters patent are now the
property of Kate Lowe, widow Of Henry
Lowe and William Meyer, described as
follows viz:
Number twenty thousand three hundred
and ifty.ive (20,355), dated May twenty.
fifth, eighteen hundred and ffty-eight
US5S); number twenty thousand eight
hundred and eighty. four(2O, ss4), dated July
thirteenth, eighteen hundred and tifty-eight
Qs5S); number twenty three thousand and
ninety nine (23,099), dated March first,
eighteen hundred and ffty-nine 1850;
number one thousand FIVE hundred and
nineteen Q,5l9), whole number thirty
two thousand five hundred and twenty
three (32,523), dated June eleventh,
eighteen hundred and sixty-one Qs61);
num- Der twenty thousand and eighty-eighJ
(20, 0SS), whole number thirty three thou
sand and ninety-two (33 O92). dated August
twentieth, eighteen hundred and sixty one
QS6D; number two thousand nine
hundred and forty-nine $3.50, whole
number thirty.three thousand nine hundred
and fifty three (33,553), dated December
seventeenth, eighteen hundred and sixty
one N861), and in said letters patent are
granted the privilege of using, selling, etc.,
certain new inventions in the manufacture
of paper, Irvine and other fabrics, from reeds
sugar cane, corn stalk and other fbrous
substances, and certain other inventions in
the use, retaining and manufacture of caus-
tic soda, used in said manufacture, for q
more specific description OF which inven-
tions ands privileges reference is here made
to said letters patent. Now, when the legal
right and interest in said letters patent shall
have been transferred by the legal owners
thereof to said Louisiana Reed and Fibre
Manufacturing Company" then said COM
pany shalT have power to engage in the
manufacture in all its branches, under said
letters patent, of all kinds of paper, fibre,
pulp, Irvine, rope !bagging, cloth or other
fibrous or textile fabrics from reed, cane or
other fibrous substances, and may employ in
said manufa cture, under said letters patent,
said improved mode OF preparing the pulp
in the manufacture of paper and said i'm
proved mode of reclaiming the caustic soda
used in the process, and also the said
improved mode of manufacturing caustic
soda, and as soon as the said corporation
shall become The lawful owners of said letters
patent, and the rights therein conferred, to
purchase and use, which, as well as all other
patent rights which it may deem expedient
to use in the. prosecution of its business,
power is hereby conferred, then all the
in said patent rights shall vest in
said corporation and all the privileges,
rights and immunites thereby conferred by
the United States are hereby conferred by
the State of louisiana, to be owned, pos
sessed, used and enjoyed by said msnufac-
turing company during and until the end of
its corporate existence, unless it shall sooner
sell aud dispose Of the same, which it shall
have power to do. Said company shall have
power to establish its principal manufactory
at any point in this State, and establish
branches for the carrying on of any depart
Inent of its business or sale Of its products |
at any point or points in the State.
SEC. 3. Be it further enacted, ETC., That |
the capita! stock for the principal establish |
ment and for each of its branches shall be
City thousand dollars, and shall be divided !
into shares of one hupd dollars each, and |
in all meetings OF the stockholders each |
share shall have one vote. Said company
shall not commence business until fifty per
cent OF the capital stock shall have been |
paid. in either money or property. Said
shall have power to compel the
payment by any owner or holder of any
stock of any sum or sums for or on account
made upon said stock for the
purpose OF carrying on the business Of the
company, by selling and disposing of said
stock to pay any balance due, or by de-
claring such stock forfeited to the company;
provided, that nothing in this section shall
be construed to authorize the company to
make any assessment upon, or declare
the forfeiture of any stock sold by the COM
pany as full paid up stock.
SEC. 4. Be it further enacted, ETC., That
all the private property Of each stakeholder
shall be held liable for the debts and liabil-
tiles of the corporation, to the amount of
his, her or their subscription remaining
unpaid.
Src < Ro II fnrthor opoctod otc That