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

is hereby enacted that all of such charges,
expenses, advances and commissions ami
interest shall be lien ON the said goods
wares, merchandise, bills Of lading, store
keeper's or inspectors certificates, order tor
the delivery of goods or other documents,
showing possession or the right thereto, or
Other property, or npon any goods, wares
merchandise, bills Of fading. store keepers p
or inspectors certificates orders for the de-
livery Of goods, or other documents show
inc possession or the right thereto, or other
property belonging to the party or parties
BY whom SAID charges, expenses, advances.
and commissions and interest are due, or
accruing, which may be IN the custody or
possession of the Louisiana Warehouse
Company, or to which che said Louisiana
Warehouse Company may have the right Of
possession, and if the said charges ex-
penses, advances, commissions and INTEREST,"
or any Of them, or part OF any OF them, shaif
remain unpaid when the same are or is pay.
able, or if there has been any breach OF any
of the terms of any agreement made IN re-.
lation to advances, or in relation to any OF
the particulars hereinbefore referred to, the
said goods, wares merchandise OF other
property in possession Of said Loutsians
Warehouse Company, either in fact, or oy
virtue of documents as aforesaid, showing
possession or the right thereto, and upon
which the said charges, expenses, advances,
comlnis,io and interest, or any part OF
them, or either of them, may be q lien AZ
aforesaid, or so much thereof as may be-
sufficient to satisfy the said amount OF said
charges, advances, expenses, COMMISSIONS
and interest, may be sod at pubic auction
in one or more lots or parcels, on one or
more days; and ten days notice of the time
and place of such sale or sales shall be given
in at least tn ee of the daily newspapers:
printed in the city of New Orleans, except
in cases where said sale Of sales. having
been once advertised, has or have been de-,
ferred, in which case or cases notice shalF
he given of such deferred sale or sales,
twice week, in three daily paners as atore-
said, until the day or days Of sale, and on.
said day of sale. or such other means OF
public notice as the city or town Or place or
business may afford and after making such
sale or sales, and receiving the proceeds
thereof, the said Louisiana Warehouse Com
pany, after satisfying the amount of its
claim or claims as aforesaid, and all ex-
penses Of said sale Or sal"s, may retain the
balance unfit the whole account between
the parties is closed, or, If the same car
then be closed then shall forthwith close
the same, and, after satisfying all its claims,
as aforesaid, shall pay over the balance, If
any, to the party or parties entitled to re-
ceive the same. -
Sec. 4. Be it further enacted, etc, That
the capital stock of said corporation shall
consist of three hundred thousand dollars,
divided into three thousand shares of "ns
hundred dollars each, which shall he deem
ed personal property, and be transferable
as such ia the manner the bylaws may
prescribe Said corporation ma7 commence
busiress and shall be deemed fully organ
lied when the sum of twe"ty thousand dol
lars shall have been paid in. on the capital
stock, in cash. The capital stock may, by
two thirds vote of stock, be increased not
to exceed five times the original stock.
SEC. 5. Be it further enacted, etc., That
the incorporators named in the first section
of this act, as soon as two hundred thousand
dollars of the capital stock shall be sub-
scribed, are hereby authorized to call &
meeting of the stockholders of this corpora.
ton, and said incorporators shall be ex-offi1
clo directors of said corporation until a per-
manent organization shall be effected, as
prescribed in the preceding section there
shall then be an election of directors, nine
in number; each director must hold in his
own name, or in the name of the corpora
ton or firm of which he is q member, at
least twenty shares of stock Of this corpora
ton, and Shall, in the first instance, be
elected to serve one year; and thereafter
the directors shall be elected annually, at
such time and In such manner as the by
laws~of the corporation may prescribe and
said directors shall, at their first meeting,
proceed to elect two Of their number, who
shall be respectively president and vice
president of the corporation for the year: -,
Sec g. Be it further enacted, etc, That
the directors shall have power to make all
such bylaws not inconsistent with the laws
of the State or United States as they may
deem necessary for the conduct and man
agement of the business and affairs Of the
corporation, the holding of the elections,
the transfer of stock and of subscriptions
thereto; which by laws from time to time
NAV be amended, added to or altered by
| the directors for the time being. A ma
| iority Of said directors shall constitute d
quorum for the transaction of business, and
shall have power to appoint and remove all
clerks or Iaborers necessary or requlsitet0
carry on the business of said corporation,
and to fiji any vacancies in their number
occssioned by death OF resignation, or
otherwise. -..,.,- ,s., ~
Sec. I. Be il further Il , enacted, tied etc, That
| G. E. Creecy,. L. A: Sheldon, Lewis Wolf
ley, George f. Sherman, .. W. Fairfax, B;
B. Campbell are hereby appointed commits
sioners to receive subscriptions to the capi-
tai stock Of this corporation, at snch time
and place as they may appoint, by giving
one weeks notice thereof BY publication in,
two daily papers published in the city of
New Orleans, Louisiana /. and such sub
scriptions shall be payable at such time
and in such manner and installments as the
said commissioner may determine and in
case of default the corporation may enforce
the payment of such subscription o9 acton,
or the stock with all payments which have
been made thereon shalt be forfeited to the
use of said corporation. r
SEC. 8. Be it further enacted, etc, That
said corporation shall have rower to ISSUE
bonds, payable twenty five years from date
of issue thereof, orredeemabie 1t pleasure.
by giving thirty days public notice II at
least two daily papers in the city If, New
York, and two in the city Of New Orleans,
louisiana; said bonds to bear sigat per
cent interest, payable annually, at The office
of the corporation, in the city qf New Or
leans, Louisiana Each bend Shall be for
the sum of one thousand dollars, and the
amount so issued shall not tt any time ex-