New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-09
No. 32.
AN ACT

1
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 Oren Mayo, j. W. Young, George w.
Green, II. H. Harris, L. D. Aldrich, S. M.
Preston, A. V. 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, 7. G. Manning H. S.
Losee, Patrick O'Hara, Henry Royce, Sam
uel 5. Bowman, j. Fridler, II. Clay Staples,
Nathan Loire, A. j. King, A. J. Sexton, A.
6. 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 Fidalia 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 continuous single
or double track railway from the Missis-
sippTriver, commencing at or near the town
of Vidalia, in the parish of Concordia. and
running thence by the most direcG 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,
hot -nsI I
within three years after the passage of this
act, and shall be finished within seven years
after the commencement of said work pro-
y1ded 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
the dOmicile of said company be fixed at
Vidalia, Louisiana. The business of the
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 al 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
sence, upon the president pro tenn. Said
cOrpOratOrs shall open books of subscrip-
AI,,y,A n, h. %,T Il
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 a board of directors to consist of
thirteen members, each of whom shall be |
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 !
jOrity of the cOrpOratOrs named in this act |
shall be a quorum for the transaction 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 may require; fix
the amount of their compensation, and re-
lu1re 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 ouali- |
fed. An annual election for directors shall
be held in the month of April in each year,
1t the domicile of the company. Thirty DAYS
pubic 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
9lecuon, all shares of stock must be owned
ana possessed by each voter in his own
Hght, or those of his principal, and if by
1AOAS ~ H1usI NC H6lQ Sixty Gays before
voted on. Votes may be given in person or
~ proxy, and each share shall be entitled
% one vote.
SEC. a. BE it further enacted, ETC., That
he board of directors may make such rules,
equations and bylaws for the government
# its officers and the MANAGEMENT of its
business as they may deem expedient,
They may determine when and where the
books hereby authorized NAV
,e opened for subscription to the capital
took thereof, and when closed NAV fix on
he day in the month of April. and give
lotice thereof for the holding of annual
meetings of stockholders for the election of
directors; may fill vacancies that NAV
ccur in the board, and may in the name
nd on behalf Of said company, make such
enter into such engagements,
nd do and perform all such acts as they,
r majority of them, may deem proper.
Onvenient or necessary for the accom-
of the object for which said {
Ompany is created.
SEC. 5. Be it further enacted, etc., That 6
he capital stock of said company, its fix
res, workshops, warehouses, depot {