New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-05-11
LAWS OF THE STATE OF LOUISIANA.
PUBLISHED BY AUTHORITY.
No. 80.
AN ACT

1
pany of Louisiana, for the purpose
making deep channel through to sal
bay, to facilitate the carrying on of con
mercial intercourse between the State c
Louisiana and the State of Texas an
foreign countries.
SECTION |. Be it enacted by the Senat
and House of Representatives of the Stat
of Louisiana in general assembly convened
That Cuthbert II. Slocomb, James l.. Day
T. Upper, Edward Pillsbury and S. J
Webster, citizens of Louisiana, and thei
associates and successors be and they ar
hereby declared to be body corporate ant
polite, by the name of the Atchafalay;
Bay Company of Louisiana, whose dOmicil'
shall be at Brashear City, parish of st
! Mary, State of Louisiana. The said com
pany shall have power to contract sue ant
be sued, to have and enjoy perpetual sue
cession by their corporate name, to make
and use corporate seal, to hold, receive
purchase and convey under their corporate
name property real and personal, to name
and appoint such directors, managers anC
/ officers which their interest and convenience
may require, and to make such bylaws as
they may deem necessary and proper for
the management of their business
SEC. :. Be it further enacted, etc, The
capital stock of the company shall be two
hundred and fifty thousand dollars, divided
|
dred dollars each, payable as may hereafter
be determined by the board of directors OF
said company, and the said capital stock
| may be increased to one million of dollars
say ten thousand shares; provided, that nc
such certificates ofadditional stock are issued
until the payment of the par value thereof,
to wit: one hundred dollars per share.
Sec. 3. Be it further enacted, etc, There
shall be board of directors, composed of
| iva eff bnl IN Ina oil ta1n tba fipot
Saturday of April of each year, at the office
| of the company, and notice of such election
| shall be given ten days Immediately pre-
ceding such election in the newspapers pub
| lished nearest the domcile of said company
| The stockholders shall appoint three stock
holders as inspectors of election, to preside
| at an election to choose the first board of
directors, and if said inspectors or any of
them fail to attend, the stockholders may
then appoint Others to act in their stead
AT all subsequent elections for a board of
directors the acting board shall appoint
three inspectors from among the stockhold-
ers to preside at said election.
SEC. 4. Be it further enacted etc, In
all elections the vote shall be by ballot, and
the stockholders receiving plurality of
the votes of the stockholders voting shall
be considered duly elected and in the event
of no election taking place on the day
aforesaid, the president shall cause another
election to be held within ten DAYS there
after, after giving the usual notice of
same as aforesaid. No stock shall be trans
ferred unless such transfer be made on the
books of the company. No stakeholder
shall be held liable for the contracts or
faults of said company in any further sum
than amount represented in the shares of
stock held by him.
SEC. 5. Be it further enacted ETC., This
act of incorporation may be modified,
altered or amended, or the company dis
solved at a general meeting of the stock
holders, to be convened for that purpose,
after thirty days notice in the newspapers
published nearest the domicile of the com
pany, and with the assent of three-fourths
of the stockholders. Such notifications,
alterations, amendment or dissolution shall
he recorded in the mortgage office of the
parish in which said company is domiciled
and notice of same published in the af0re-
said newspaper.
SEC. 6. Be it further enacted, etc, In the
event that three-fourths of the stockholders
of said company desire dissolution of the
corporation, the affairs of said company
shall be liquidated, its property disposed of,
and its debts paid under the charge and
superintendent of three commissioners, to
be appointed 10y the board of directors,
and who shall remain in office until the
final liquidation of the affairs of said COM
pany.
SEC. 7. Be it further enacted, etc., That
the said company be and it is hereby au-
tllorized and empowered to cut and exca-
vate through any portion of the said |
Atchafalaya bay, lying to the west of the |
channel through the said bay from the |
Atchafalaya river to the open sea, now used |
by seagoing vessels, channel or channels |
OF depth OF less than ten feet and of suf- |
iicient width to afford a passage through |
the same for the steamers and other vessels
Said company are also authorized and en-
powered to build all such wharves, beacens
and such buildings as may be deemed
requisite and proper TO carry the objects of
this act into full effect
SEC. 8. Be it further enacted etc, That
as soon as said company shall have deep
ened or excavated a channel of sufficient
iepth to admit the passage of steamers or
other vessels drawing ten f1O) feet of water,
hey shall be authorized to charge and re-
,eive from all such steamers and other yes
els as may pass through said channel,
either in or out toll or duty
i've (25) cents per ton of the
egistered tonnage Of said vessel or
teamers, and every steamer or other YES
ell which shall become liable for toll as
whose captain, owner or other
'erson who may be in charge, neglecting or
etusing to pay the same for five days after
he same shall have been demanded shall |
re liable for the amount of toll due to-
either with fifty per cent damages, re-
overable before any court of competent
and said steamers and other
essels, and the owners thereof, shall be
liable for the same, together with costs and
egal interest, and the said company shall
ave the power to prevent any vessels from
assing through the said channel until the
llls are paid.
SEC. 9. Be it further enacted, ETC., That
le said Atchafalaya Bay Company of
ouisiana be and is hereby invested with all
10 rights and powers requisite for the
and repair of said channel or
lannels, and it is stipulated and agreed
nat for and during the space of twenty
We years from the passage of this act the
aid company shall have and enjoy the ex- q
usive right and privilege of constructing @
channel or canal for the passage Of ]
or other vessels through the said S
ay; provided, that The said work shall be
, far advanced as to admit of the passage G
steamers or other vessels drawing ten Il
et of water within twenty-four months a
ter the passage of this act; otherwise this u
1t shall be null and void. +
SEC. TO- Be it further enacted, ETC.. That t
lid company shall have power to sell and s
'nvey any portion or all of the rights and t
f1vileges conferred on it by this act at any S
me alter said company shall have so far S
)mpleted said work as TO admit the pass | O
sc OF steamers or other vessels drawing S
N feet, 1t being expressly provided that in t
&c event the said channel or channels so {
IL or excavated should at any time become t
ostfucted or filled up from the operations of t
ny cause or causes whatever, so that the "
me should not have the said depth of ten L
MI thn,. Il - -