New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-07
No. 32.
An ACT


To incorporate the Vidalia. Alexandria and
Texas Railroad Company, and to grant
State aid thereto.
SECTION l. Be it enacted by the Senate
and House of Representatives of the State
of Louisiana in General Assembly convened,
! That OTen Mayo, j. w. Young, George w.
| Green, II. H. Harris, L. d. Aldrich, S. NJ.
| Preston, A. Y. Davis, Wade H. HOugh,
Samuel H. Lambdin, Thomas Reber, G..
Spencer Mayo, William B. Spencer. John
| Rowle, William T. Martin, A T. Bowie,
! Paul A. BOttO, d. L. Rivers, Noah Reddick,
L. G. Spencer, j. H. BOatner, Fremun Brett
haupt, T. o. Moore T. c. Manning, II. s.
| LOsee, Patrick O'Hara, Henry BOyce, Sam
uel S. Bowman, j. Fridler, H. Clay Staples,
Nathan Loire, A. j. King, A. j. Sexton, A.
! @. ODER, +. A. Hunt, G. B. Loud, E. j. An
| thOny, David Young and George Washing
j ton, their associates and successors, are
! hereby created a body corporate, in deed
! and in law, to be known by the name, style
and title of the Eidalia, Red River and
! Texas Railroad Company, and by that name
! shall be able to sue and be sued. plead and
! be implicated, and shall have perpetual sue
| cessiOn, and make and have a common seal ::
/ and the said corporation is hereby author
! lied and empowered to lay out, locate, con-
struct, equip and thereafter to own. main
| tain, operate and enjoy a continuous single
or double track railway from the Missis-
| sippi river, commencing al or near the town
! of Nldalia, in the parish of COncOrdia, and
running thence by the most direcC and eligi-
| bic route to the town of Alexandria, or to
| such other point as the company may deem
advisable on Red river, and thence to
! Texas, or to such point within this State,
and TO form such connection with other rail
| roads, now or hereafter to be constructed,
as said company may indicate provided,
that said railroad shall be commenced
within three years after the passage of this
act, and shall be finished within seven wears
after the commencement of said work: pro-
vided further, that said railroad shall not
strike Red river at any point above the town
of COushatta.
SEC. ?. Be it further enacted. ETC.. That
the capital stock of said company shall be
fixed at three million dollars, in shares of
of one hundred dollars each, with power to
said company to increase its capital stock to
six million dollars The stock of said com
pany shall be deemed personal property.
and shall be transferable on the books Of
the company at such transfer Office as the
company may establish, under such rules
and regulations as the company may pre-
scribe
SEC. 3. Be it further enacted, etc, That
the dOmcle of said company be fixed at
Nidalia, Louisiana. The business of the
corporation shall be conducted at its said
dOmicile, by the cOrpOTatOrs or a majority
thereof, until the election of a board Of di-
rectOrs under this act All services of pro
cess may be made on a president to be
elected by the COrpOratOTs, until the organ
iZatiOn of a board of directors and there
alter upon the president Of the company
elected by the board or. in case of his alb
sence, upon the president pro tenn. Said
cOrpOratOr5 shall open books of subscrip-
ton to the capital stock OF said company.
. Il.
of each share shall be made at the time of
subscribing The subsequent payments
shall be made in such sums, at such periods
and under such regulations as shall be fixed
by the board of directors. As soon as two
hundred thousand dollars of the caDitaI
stock of said company shall have been sub
scribed, and the first payment of five per
cent thereof paid to the treasurer elected
by said cOrpOratOrs. a meeting of the stock
holders shall be called which stockholders
shall elect board of directors, to consist of
thirteen members, each Of whom shall be
stockholders in their own right to not less
than ten shares. The said call and election
shall be made and held under such insDec-
tors and tellers, and with such regulations
as the cOrpOratOrs may prescribe. A ma
jOrity of the cOrpOratOrs named in this act
shall be a quorum for the transaction of
business. After the election Of a board of
directors quorum for the transaction Of
business shall not be less than a majority
of the whole number elected. The direc-
tors shall meet and elect one of their body
as president of the company as soon as
practicable after their election, and
select another as vice president to
act in the absence Of the presi-
dent; in which case he shall perform the
same duties and exercise the same powers
as may be conferred on the president.
The said board of directors shall have
power to elect a treasurer, clerk. an en-
gineer, and such other officers as in their
opinion the board or road may require; fix
the amount OF their compensation, and re-
qulre such security as they may deem
proper, and enact rules and regulations to
govern them in their various duties. and
have the right to remove any officer, except
the president, without showing cause Said
board of directors shall continue in office
until their successors are elected and quail
fed. An annual election for directors shall
be held in the month of April in each wear.
at the dOmicile of the company. Thirty days'
| public notice of the election and the day on
which the same is to be held, shall be given
previous to said election. After the first
election, all shares of stock must be owned
and possessed by each voter in his own
right, or those Of his principal, and if by
proxy it must be held sixty days before
voted on. Votes may be given in person or
by proxy, and each share shall be entitled
to one vote.
SEC. 4. Be it further enacted, etc. That
the board Of directors may make such rules
regulations and bylaws for the government
Of its officers and the management of its
business as they may deem expedient.
They may determine when and where the
subscription books hereby authorized NAV
be opened for subscription to the capitaI
stock thereof, and when closed may fix on
the day in the month Of April, and give
notice thereof for the holding of annual
meetings Of stockholders for the election of
directors; may fill vacancies that NAV
occur in the board, and may, in the name
and on behalf Of said company, make such
contracts, enter into such engagements.
and do and perform all such acts as they.
or a majority of them, may deem proper.
convenient or necessary for the accom- |
plishment of the object for which said |
company is created.
SEC. 5. Be it further enacted etc., That
the capital stock of said company, its fix
lures, workshops, warehouses, depot |