New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-03-19
no. so.
AN ACT

For the incorporation of the Bayou Cas.in
Navigation Improvement Company.
WHEREAS. The Improvements Of the water
courses and harbors of this State is OF para
mount Importance TO its prosperity, and
Whereas All we'll founded schemes having .
that object In view are deserving OF iegisla-S
tive encouragement, and
Whereas. The opening of Bayou Castin
(which can be effected by oredge boats,
copper dams [coftr dsmsI or other ap-
pii&nces), in the parish of St. Tammany, is
calculated to promote these Objects to the
advantage of all concerned, ana at the same
| time 20 open much needed harbor to ves-
sells plying on Lake Pontchartrain during
stormy and OTHER weather. besides develop
ing the resources of q large scope OF pro-
ductiye country comparatively cut Of,
therefore
SECTION 1. Be it enacted by the Senate
and House OF Representatives of the State
OF Louisiana in General Assem- bly, convened,
That, for the purposes reclted in the fore
going preamble, "a body corporate and polite
under the name OF the Bayou Castin Nayi-
CATION Improvement Company, the domicil
thereof to be in the town of Vaudeville,
parish OF Fammany, is hereby established,
the capital of which shall be fifty thousand !
dollars, or so much thereof as may be faf:&
necessary to the Improvement of said baJo
and harbor by the directors and mansgeIS
hereinafter appointed in accordance with
the provisions of this act; to provide for the
organization of this company, and to carry
out the objects of the legislative bodies in
granting the privileges asked, the following
persons are hereby constituted corporators.
to witt Nathan P. Rider, William r. Adams.
AloDzo Owens, j. 8. Tooley, j. P. Manico,
William Rider, Joseph Tay lOr aud B. Bloom
field, who shall, or a mijority thereof,
proceed within thirty days alter the passage
OF this act, to open books of subscription to
hn al Of oh IS
divided into twenty-five hundred shares of
OF twenty dollars each), and as soon as i've
hundred shares are subscribed for, the COM
pauy may organize for business. All
powers of the corporation shall be vested in
the board CT directors who are hereby ap-
pointed to serve for one year from date OF
passage of this act, and consist of the par
ties before mentioned as corpora.ors. whose
duty 1t shall be TO elect ons of their number
as president at their first meeting.
The said corporation, through their presi-
dent and directors, shall have and enjoy
succession, may contract, sue and be sued,
plead and be implicated in their corporate
name, make and use a corporate seal, hold,
receive, purchase and survey real property
ior the use of said corporation only and
personal property, and may invest any sur
Plus funds; providing such investment is
MADE only on q vote of three. fourths of the
Directors. Said Beard of Directors shall ap-
agents as may be necessary and RI
move the same at pleasure, fix all ssa-
Ties and establish such bylaws for
the proper management and regulation
OF the affairs of said corporation as may be
deemed necessary. A majority Of the said
board shall be necessary to form q quorum.
as also to elect any officer thereof; and the
said Board shall also have the power to fill
any vacancies that may occur therein BY
death, resignation or any other cause. Paw
meuts on the stock to be made as follows.
Five dollars per share at the time of sub
sCribing; FIVE dollars as soon as five hundred.
shares are subscribed for and the remainine.
ten dollars per share subject TO cali
of Board Of Directors after sixty davs
notice: Provided, No call TO exceed at anv
one time two dollars and fifty cents per
share, and three months at least to elasse
between each call. Should the capital ex-
coed the wants OF the company, the direct.
ors are hereby empowered to issue paid up
certificates, In fpii, to all subscribers who
have previously met all demands made prior
thereto. f-
SEC. 2. Be it further enacted. etc. That
unless the proposed work is commenced in
one ana nnlshed in three years, then this
ace 10 De null and void but. should the
stipulated work be carried out, then the
cnarter hereby granted is to continue for the
space OF twenty five years.
SEC. 8. Be itfurther enacted, etc. That In
oroer TO compensate the company for the
expenses OF the foregoing improve ment,
they are hereby authorized to charge each
vessel or water.craft, not exceeding thirty
cents per ton, customhouse measurement.
Incoming or outgoing rs we'll as Che
usual wharfage fees. Vessels under ten tdAa
70 be charged as per special agreement.<
Ia ADDITION to the powers and privileges
herein conferred, those granted by the gem
erai act, providing for the formation of cor
poratlons, shall be grantedt) this corpors-
ton, not Inconsistent with the provisiops NJ
this act '"
SEC. 4. Be 1t further enacted etc. ThafS
This act shall tske effect from and after its
passage; and all laws and parts of laws con-
n'onng with and contrary to the provisions