The Opelousas journal. [volume] (Opelousas, La.) 1868-1878, 1871-07-01
NO. HOG.
AN ACT

AN ACT
To incorporate the Arkansas and Delta Rail
road Company, and granting aid to the
same
SECTION |. Be it enacted by the Senate
and House of Representatives of the State
of Louisiana in general assembly convened
That M. Nj. Grady, r. 6. Short, james
johnson, George C. -Benham, W. R. Fish
j. B. Guthrie and 4. j. Berlin, their asso.
ciates and successors, are hereby created 6
body corporate in deed and in law, to bt
known by the name ard title of the Arkan.
sas and Delta hailroad Company, and b,
that name shall be able to sue and be sued
plead and be implcaded, shall have perpetua
succession, and make and have q common
seal; and the said corporation is hereby au-
thorized and empowered to lay out, Locate
construct, equip and thereafter to own
maintain, operate and enjoy continuous
single or double track railway from q poin,
on the line of Arkansas and Louisiana, which
is the proposed Southern terminus of the
Little Rock, Pine Bluff and New Orleans
railroad, between the Ouachita and Missis.
sippi rivers in the State of Louisiana, te
De ia, in the parish of Madison, Louisiana
and by such route as said company shall
deem most direct and practicable, the objec
Of this act being to facilitate and secure the
establishment, within the shortest practica.
ble time of q continuous railway communi.
cation, betweef @he city of New Orleans ant
the city of St. s4onis.
SEC. Q. Be fs further enacted, etc, Tha
the capital stock of said company shall bt
fixed at five Tillions of dollars, in shares o
one hundred Collars each, and the stock o
said company shall be deemed persona
property, ar. shall be transferable on TIT
books of the company at snch transfer Office
as the company may establish. and under
such rules and regulations as the company
may prescribe.
SEC. 8 Be it further enacted, ETC., Tha1
the president of the company is the officer
designated as the Pc son on whom legal ser
vice of all process against the company may
F'be made, and said service may be made or
the president in person, or left to his ad-
dress, at the Office Of the company at its
domicil, with any of its officers.
SEC. 4. Be it further enacted, ETC., That
said corporators, or their assigns, shall be
and they are hereby constit tied Board o.
Commissioners, with the powers herein pre-
scribed for them, and shall act as such com
mis>ioners until Board of Directors shall
be elected by said company, as hereinafter
provided. ami no longer; and said commits
sioners shall have power to appoint, from
their own number, a president, secretary
and treasurer, and may appoint and fix the
compensation of all such agents as they
may deem needfl to enable them to perform
the duties he eby committed to them; and
said commissioners shall cause books to be
kept open in New Orleans, and at such other
places as they may deem proper, to receive
subscriptions to the capital stock Of said
company, and shall fix the amount of the
first installfnent payable on such subscrip-
tions, and may cause t" be madea preliminary
survey of the railway by this act authorized
to be constructed. with estimates OF the cos,
thereof. Said Board of Commissioners shall
keep a r.co,d OF its proceedings, and its acts
shall be determined by vote OF its mem
bers, each member being entitled to one
vote. A majority of said commissioners
shall constitute quorum for business.
SEC. g.. Be it further enacted, etc, Thai
in order to provide means to defray the ex'
penses of said Board of Commissioners IN
executing the trust bv this act committed &c
them, they are hereby authorized TO issue
in the name of said comnany ceftlhcates U
Indebtedness signed by the pres'aent, sec
retarv and treasurer of said Board OF Com,
missioners to such an amount, and 10 sci
and dispose Of the same at such rates OF ols
count as they may deem proper and expe'
dient, and snch certificates shall be fece!va.
bic at par in payment of any subscrip''o'iS
to the capital stock of said company. -,
+ SEc 6. BE it further enacted, ETC., ma l
40 aoon as ten per cent''m Of the eaPI.a
stock Of said company shall be subscr,oee
It shall he the duty of the said Boara =, .
Commissioners to call meeting o. tlls
Stockholders of said company for the e'ec'
ton of a hoard of vine directors, and suel
meeting shrll be held nt time and place tt
be specified in such call for the purposes o
snch meeting. All persons who shall ther
have subscribed to the capital stock of sale
corpany shall be deeme1 stockholders, ant
shall be entitled to cast one vote. either ir
person or by proxy. for every share Of saii
stock subscribed for and held by them res.
pectively; bnt at all other and subsequent
meetings of the stockholders of said com
pany, every stockholder shall be allowed tt
cast in person or by proxy, one vote only
on each share of capital stock which he ha
owned and held for the period of thre,
months last preceding snch meeting. Sait
Board of Commissioners shall prescriberule
for the election Of directors at said first meet
[ ing of stockholders. and shall receive an,
count the votes cast at such election, ant
shall certify the result thereof over thei
signature, and such nine stockholders vote'
for as shall receive the highest number o
votes cast at such election shall be director
Of said COMPANY until their successors ar
chosen and qualified; provided, that no per
| /, on shall be eligible as snrh director who i
not the owner Of at least fifty shares of sal
capital stock. The directors so elected shall
before entering upon their duties, take an
subscribe an oath or affirmation that the,
viii faithfully and to the bes. Of their abilit
| perform their duties as such directors; an
thereupon the functions of said Board &
Commissioners shall cease and terminate
and thereupon the directors shall ehoos
/ from their own number q president. an
shall have. power to appoint such other Off
GERS aad agents as in their judgment, th
| interests of the company may require, an
NAV make such rules, regulations and by
laws Tor the government of its officers an
the management of its business as they ma
deem expeiient, and may determine whe
the subscription books hereby authorize
/ to be opened for subscription to the capit'
stock shall be closed, and may fix the tin
and place for holding annual meetings
stockholders faS the election Of director
| may fill vacancies that may occur in the