New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-10
No. 80.
AN ACT
2 - - = ="
Secretary of State.

No. 80.
AN ACT
To incorporate the Vidalia, Alexandria and
Texas Railroad Company, and to grant
State aid thereto.
SECTION !. Be it enacted by the Senate
and House of Representatives of the State
of Louisiana in General Assembly convened,
That Oren Mayo, j. w. Young, George w.
Green, H. H. Harris, L. d. Aldrich, S. NJ.
Preston, A. V. Davis, Wade HI. HOugh,
Samuel II. Lambdin, Thomas Reber, G..
Spencer Mayo, William b. Spencer, John
ROwle, William T. Martin, A. T. Bowie,
Paul A. BOtt0, d. L. Rivers, Noah Reddick,
L. G. Spencer, j. H. BOatner, Fremun Brett
haupt, T. o. Moore. T. G. Manning, III. S.
LOsee, Patrick OHara, Henry Boyce, Sam
uel S. Bowman, j. Fridler, H. Clay Staples,
Nathan Loire, A. j. King, A. j. Sexton, A.
G. ODER, F. A. Hunt, G.. B. Loud, E. j. An
thony, David Young and George Washing
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 Vidalia, 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 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 at or near the town
of Nidalia, in the parish of COncordia, and
running thence by the most direct and eligi-
BILE 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 tOfOrm 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. 2. 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
Vidalia, Louisiana. The business of the
corporation shall be conducted at its said
dOmicile, by the cOrpOratOrs or a majority
thereof, until the election of board of di-
rectOrs under this act. All services of pro-
cess may be made on a. president to be
elected by the corpOratOrs, until the organ
iZatiOn of. a board of directors, and there
after upon the president of the company
elected by the board, or, in case of his alb
fba oci1 CosI
cOrpOratOrs shall open books of subscrip-
ton to the capital stock of said company.
A payment of five per cent on the amount
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 capital
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 inspec-
tors and tellers, and with such regulations
as the cOrpOratOrs may prescribe. A ma
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, a clerk. an en-
glneer, and such other officers as in their
opinion the board or road NAV REQUIRE: fix
the amount of their compensation, and re-
qulre such security as they NAV deem
proper, and enact rules and regulations to
govern them In their various duties. and
nave 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 0uaIi- !
lied. 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 |
eleeUOn, all shares of stock must be owned |
anu POSs0sseu Dy 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
5he board of directors may make such rules,
regulations and bylaws for the government |
1f its officers and the management of its |
business as they may deem expedient. |
They may determine when and where the |
books hereby authorized NAV |
be opened for subscription to the capital
stock thereof, and when closed NAV fix on |
he 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
md on behalf of said company, make such
contracts, enter into such engagements.
md do and perform all such acts as thew.
II a majority of them, may deem proper.
onvenient or necessary for the accom-.
Of the object for which said
omSany is created.
SEC. s. Be it further enacted, ETC., That
he capital stock of said company, its fix