Semi-weekly Louisianian., 1871-09-07
[CoNTTNuED FROM FIRST PAGE.


aaofydirectessk hsy deem fitting and
proper for the interests of the stock
holders. And the said corporation
I 6iay iscsis6 from and execute to
&. the stockholders thereof, OF to their
employees or other dealers with
them, any trust or trusts, may grant
annuities to them or any OF them,
and may insure them, or cause them
to be insured, or any other person
Lin. whom they have or take an in
terest against any and all incidents
of life, health, strength, property
"a or estate; and dIshall be, and is here
by, authorized to lease, purchase
and dispose of real estate of every
description whatsoever, and shall
have power to erect, construct, oper-
ate and establish factories and man
ufactories of every. description on
such lands tenements and real es-
tate as they may acquire or become
in possession of by such purchase,
negotiation or contract and shall
E have full discretionary power to sell
dispose Of or negotiate such zeal es-
tate or property in such quantity
and parcels of land as they may
deem suitable to actual settlers,
mutually consulting the interests OF
said company and settlers; and shall
have power to mortgage ard make
advances on real estate, personal
property, and all collateral securi-
ties; provided, that in all such cases
such powers be executed by the
board of directors of said corpora
ton, or by agents duly authorized
thereto. ,.,
Sec. 2. Be it further enacted, etc,
That the capital stock of this cor
poration shall be one hundred thou
sand dollars, which may be increased
at any time, at the will Of the direc-
tors, to an amount not exceeding
twenty millions of dollars Said
capital stock shall be divided into
shares Of one hundred dollars each,
which shall be deemed personal
property, and shall be transferable
on the books of the corporation in
such manner as Its bylaws may
prescribe.
Sec 3. Be it further enacted, etc,
That this corporation shall have
power to commence mad continue
their business operations, in con-
formity With the powers granted in
this act, as soon rs the capital stock
of one hundred thousand dollars
shall be subscribed, ap of which
fifty thousand dollars shall be paid
into the hands or treasury Of Sud
s.dir1ctors 5s5 N-t r,a
Sec 4. Be itifulther enacted, etc,
That the affairs Of this corporation
shall be managed by a board of
ia twenty directors, q majority OF whom
.. shall form a quorum for the trans
= action of business. The persons
named in the first section of this
act shall form the board Of directors
from the date OF the passage,pf this
act until the expiration OF five years
thereafter, and until their success
sors shall have been duly elected.
Within thirty days prior to the ex-
piration Of said service as directors,
notice of not less than ten days
shall be given to the stockholders,
by public advertisement in any two
newspapers published in the city OF
New Orleans, to meet, at such time
and place as the existing directors
may designate. for the purpose Of
electing persons to form board OF
directors, to take the place of those
Is whose term of office is about to ex-
o. pire.. The persons chosen at any
such election must be stockholders
holding at least ten shares of the
capital stock of this corporation,
and shall hold their places for five
years and until their successors have
been duly elected. All elections
shall be by ballot, and the name
and number of shares Of each stock
holder voting shall be indorsed on
his ballot. Every stockholder shall
be entitled to one vote for each
share of his stock, and he may vote
in person or by proxy. Those per-
sons receiving the highest number
OF votes shall be declared elected
and in the event of there being a
tie between two persons or candi-