New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-04
NJ %
- % - -
AN ACT

To incorporate the Vidalia, Alexandria and
Texas Railroad Company, and to grant
State aid thereto.
SECTION /. Be it enacted bv 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. II. Harris, L. D. Aidrich, S. NJ.
Preston, A. V. Davis, Wade H. Hough,
| Samuel III. Lambdin, Thomas Reber. q
! Spencer Mayo, William B. Spencer, John
| ROwle, William L. Martin, A. T. Bowie.
! Paul A BOttO, d. l. Rivers Noah Reddick,
! L. G. Spencer, j. II Boatner Fremun Brett
haupt, L. o. Moore T. c. Manning, H. s.
! LOsee, Patrick O'Hara, Henry BOycp. Sam
uel 5. Bowman, j. Fridler, H. CLAY Stables,
! Nathan Loire, A. j. King. A. j. Sexton, A.
| G. Ober, 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 Nidalia, Red River and
| Texas Railroad Company, and by that name
shall be able to sue and be sued, plead and
be implpaded, and shall have perpetual sue
CessiUn, 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-
slppl river, commencing at or near the town
OF Nldalla, IN the parish Of COucOrdia aud
running thence by the most direct and eligi-
bic route to the town of Alexandria, or to
snch other point as the company NAV deem
advisable, on Red river, ana 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, aud shall be finished within seven wears
alter 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 he
fixed at three. million dollars, in shares of
of one hundred dollars each, with bower 10
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
corporation shall be conducted at it's said
domicile, by the cOrpOratOrs or 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 cOrpOrators, until the organ
izatOn of board of directors and there
after upon the president Of the cOmpanY
elected by the board, or, in case of his all
sence, upon the president pro tenn Said
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 al the time of |
subscribing. The subsequent payments
shall be made in such sums Al such periods
and under such regulations as shall he fixed
by the board of directors, As soon as two |
hundred thousand dollars Of the capital |
stock of said company shall nave 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 10 consist OF |
thirteen members, each Of whom snail he |
stockholders in their own right To notices. |
than ten shares, The SAID call and election /
shall be made and held under such ipspec- !
tors and tellers, and with such regulations /
as the cOrpOratOrs may prescribe. A ma !
JOrIty OF the cOrpOratOrs named III this act |
shall be quorum for the transaction OF |
business. Alter the election Of a board al |
directors quorum for the transaction of |
business shall not be less than a majority |
of the whole number elected. The diTec- |
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 /