The Opelousas journal. [volume] (Opelousas, La.) 1868-1878, 1871-04-29

Fulton Railroad Company, and to grant
State aid thereto. !
SECTION /. Be it enacted by the Senate
and House of Represent atives of the State
of Louisiana in general assembly convened,
That J. G. Meadows, Montford Wells,
J. G. Egan, John G. Blackman, and
A. J. Russell, and their associates, be and
are hereby specially made body cor,
porate and polite. under the name and
style of the . Alexandria, Homer and Full
ton Railroad Company" to run from Alex
andria, through the parish of Rapides, in a
northerly direction, through the parish es OF
Grant: Winn and Bienville. to the town OF
Homer, in the parish of Claiborne; thence
to the Arkansas State line In the drec ion
Of Fnlton. in said State, and under this
name shall exist for the term OF ninety-nln
wears, and shall be capable for the pur-
noses enumerat d in this act, and for all
other purposes incident to like incorpora-
| tions, of buying, selling and mortgagng all
kinds of real estate and other kinds OF
property, of suing and being suei in any
of the courts of law and equity OF th,s
State, of having common seal, and oil al
tering it at pleasure.
SEC Q. Be it further enacted, etc, That
the capital stock of the company is hereby
fxed at two millions Of dollars, to be d.
| vided into shares of one hundred dollars
each to be paid in such manner as the tirst
hoard of directors of said company shall
deem proper. ..'ht MI
Sac 8. Be it farther enacted, etc, That
the said company is hereby authorized ana
etnpowered to survey. locate and fix, con-
str,,ct alter. maintain, work, and repair,
with one or more tracks from and to com
mence opposite Alexandria, on the Red
river. and run through the parishes OF
Grant. VIM, Benville and Claiborne t"
the Arkansas line, IN the direction OF Full
ton, Arkansas, with such other branches as
the company may deem proper amd expe-
dent. to create and facilitate business, to
carry transport and convey property ana
ner.ons and the mails, troops and munl-
ttio4ts of war of the United States, or any OF
the States thereof upon said road and
branches. by steam power, or any other
| mower or combination Of powers proper to
he nsed thereon, and 10 hold and own sald
| road and branches, and the lands and tene-
| ments attached thereto ,
SEC. q, Be it further enacted. ETC., mat
| the said company is authorized to aceep.
and receive to its, use, for the purpose OF
constructing, using and keeping in repair
said railroad, any grant gift, donation,
| loan. power. franchise, aid or assistance
which NAV be granted to or conferred upon
it by the Legislature of this State, or any
Of the fedora! States or OF the Unlted STATES
or bv any person, persons or cofpora'oh'
| IN sncb terms and conditions as may Of
annexed to or imposed on the grant thereof.
| Srn s Be it further enacted, etc, That
The sa;d company shall have the right OF
wav through all the lands owned by the
| etota Of Louisiana, for the breadth OF three
/ bnndred feet on each side and be author
;zad 70 cut and use the timber, and such
other materials therein, as theyimay require
~ see fit within one mile on either SIDE, fo1
tba nurnoses of said raael; Provided, Thai
this nrivilege of cutting timber shai con-
tin,,e ca long as the lands shall renaiei the
property Of the State. :. t,e, y,
&c & Re it further enacted, ETC., ina
| the business q. said company shati oe con
| Quoted at its domicie. st alexandra
Rapides parish, in this. State, by boaTe
composed of seven directors, who snail OF
stockholders, five of whom shall form
nnorum 70 transact business, and any flvt
nftbe incorporators named in this act shal
4 omen hooks in order to obtain subscriptions
| to the capital stock Of said company. and a.
SOON as two hundred and fifty Thousand
dollars is subscribed or. taken, the books
I shall be closed. and a meeting called Tor tn
nnrnose of electing directors TO serve tol
| four wears, by giving five days notice il
| anv newspaper published either at Alexan'
dria Homer. State of Louisiana, or Fulton
| State Of Arkansas they shall hold thei
Office for four years, or until their successer
! in Office are elected and qualified. At al
elections by the stockholders, and all the
meetings, each share shall be entitled Il
one vote. Votes may be given IN person o
i by proxy. - rh.
the directors, at their first meeting, shall
elect president treasurer, secretary ant
1 superintendent,4 and their term of offc
shall expire with that Of the directors, q
the end of every four years at their tirs
meeting thev shall decide on the manner o
having for the subscription cf the stock 0
the company; provided, that not more thai
tan ner cent shall be called for every month
and in the case of any subscriber falling t.
nav any installment on his stock. as. re
nnired. the board Of directors shall hav
the.option, after thirty days notice to tn
defauiter Of forfeiting the stock and selling
it for the benefit ofthe company, and com
peiling by suit, payment of SO much OF tn
amount subscribed by him as his stock $
sold fails to pay, and no stockholder shal
| be permitted to vote. either in his ow1
right or as proxy, nor tcserye as dlrecto
while In default.
SEC. 8. Be it further enacted, etc, Tha
the said railroad company, if necessary
nav issue and dispose Of the bonds, bearin
such interest as il may deem proper 7
! allow, payable IN any city of the Unite
Estates. and having such tine to run as tn
board of directors may fix. IN order to rals
the necessary funds to build said road an
| its branches. II may contract for the fur
nishing of iron, equipments and other neces
sarv materials, supplies or labor, on sue
credit dis 1t may deem proper; may mort
i gage the property Of the company, if neccs
sary to secure the payment Of such cor
tracts; may make payments Of stock, an
NAV hypothecafe the road itself to secnr
the payment Of the bonds issued by th
company.
SIC q. Be ii further enacted, etc, Ths
J III the event of the State Of Louisiana q
any one Of the fpderai States or the Unite
States. towns Of Alexandria, Homer Z
Fulton. should become subscribers |
capital stock of said company, that sal
company may receive payment for stock j
Ithe honds of the, State Of Louisiana, or an
Iof the federal States or the United States