New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-01-16
LAWS OF THE STATE OF LOUISIANA
PUBLISHED BY AUTHORITY.
eESSION OF 1873.
AN ACT

4 <AXV kAOA
| To incorporate the Louisiana Central Raj
| way Company.
| SECTION 1. Be it enacted BY the Senat
and House of Representative of the Stat
| of Louisiana IN General Assembly COL
| vened, That Eher B. Ward, Thomas A
| Scott, Oakes Ames, Arthur Edwards, II. {
Potter, X. Bowman, F. w. Kellogg. an
Such other persons as may hereafter be al
ISOLATED with them and their successors
are hereby constituted ID body corporate III
der the name of the Louisiana C-ntrs
Railway Company, and by that name shall
have perpetual succession, may sue and b
sued, hold real aud personal property. MA,
make contracts, may receive grants OF land
or personal property. and shall possess al
the powers and privileges pertaining to cor
pOrate bodies. and such powers and privi
ieges as are in this act conferred upon sal.
company, and shall possess the right to ey
erclse and enjoy all powers and privileges
when corporations are or may 10 by any
general law Of this State authorized t
possess; and said company shall possess tn,
power to exercise its cooperate power.
within the State Of Louisiana, and ais,
within any other State of the United 81 ;stet
that shall authorize tho exercise OF sac
corporate powers within its limits.
SEC. =. Be it further enacted, ETC., That
the business and corporate powers OF SAID
company shall be conducted and exercised
by board of not less than five directors
and such officers and agents as such board
shall appoint, or authorize to be appointed
aud empower or authorize to be empo cred
to conduct any part of said business, or
exercise any OF said powers in accordance
with its by laws. The officers. agents and
servants of the said company. within the
State OF Louisiana, shall be exempt from
al glf md ,ta,x u
IN case OF invasion er instruction. No
person shall be q director whs is not the
actual owner OF at least one hundred shares
of the capital stock Of said company. The
directors may be elected annually by the
Stockholders, personally or by proxy, at
suck time and place as shall be designated
ty the bylaws of the company. and the
directors shall continue in office until
Others are elected or appointed to fill their
places, and shall nave power to fill vacan-
cies in their number caused by death,
resignation or 9th rwise- The persons
herein named as CorpUratOrs shall be the
directors tor the first year and until others
are elected or appointed to till their places.
The directors shall elect one of their mum
Der pre- sidtnt Of said company, and shall
have power to make and prescribe such BY
laws. rules and regulations, aud from time
to time. alter, amend or revoke the same as
they shall See fl, touching the government
OF said company, the transfer of its stock,
the election of its officers, the management
and disposition of its business, propt rty
and effects, the power and conduct OF its
officers and agents, and all other matters
which shall in any way pertain to the con-
Germ OF said company. All elections for
directors shall be by ballot, and every stock.
h0laer shalf be entitled to one vote, IN peg
son or by proxy, for each share Of stock
held Or owned by him. 4 msiority of the
directors shall constitute quorum for the
transac ion or business, and the mum Der IF
SAID directors may DO increased or di-
by majority vote of the stock
holders in interest at any annual meeting,
provided the number shall not be less than
i've nor more than seventeen; aud any meet
ngs OF stockholders or directors of said
company may be held. and the bu mess of
such meetings transacted. within or with
,ut this State, as said stOch holders OF direc.
5oro may from lime TO Time elect to call
,uch meetings.
SEC. 3. BE it further enacted. etc. That
no directors of the said company st their
irst meeting ehall determine the amount OF
'apital stock of said company, which stock
haN be seemed 10 be personal property
Ind transferable as such, and shall he in
hares of one hundred dullaSs each, ans. the ]
directors shall provide for receiving sub
cription TO the amount OF capital stpck as |
lxed and determined by them, and shall
Prescribe the time and manner of payment
heretOr, and thereafter the amount of the
apitai stock of said company may be in !
reased from lime to time by vote of a ]
majority in interest OF tho stockholders,
oling in person or by proxy, at meeting |
aly held, and not otherwise. No stock I
older IL said com panv shalf be individually !
ahle tor any tt bt o. lis bility OF said com-
any, but each stOckholder snail be liable L. /
he company for the payment Cd the shares I
/ stock subscribed by him, in accordance /
III b the terms of his subscription therefor,
nd hot Otherwise Tie directors oil SAID |
ompany shall have power to ycGuire the |
ockholdeys TO pay their subscriIs;iUns in !
With the terms thereof. and .rn !
ich notice as said directors shall prescribe, }
lder penalty OF forfeiture to said company
| case OF default Of the shares upon which
lch payment shall be required, and all |
revioGs pasments thereon, or the said ]
,mpany may sue Sof and recover she |
mount of such calls il its discretion; and 1
le directors Of said company shall have
over TO receive in payment for subscrip
ons 10 the capital stuck Of said company
~ property which said company is by the I
DIVISIONS of this act authorized to own, I
divided that the terms and conditions
BON which such property is to be received |
all first be approved by majority in |
terest of the stockholders of SAID com
my; provided. however, that the corpo-
tors named ia the act shall have power at !
elr trst meeting TO receive any such prop !
~ in payment for the stock of said com
my. and to issue such stock upon such
rms and conditions az thew NAV deem
pedient and tor the interest OF said com
ny.
SEC. 4. BE 1t further enacted, etc, That
t SAID compal J Is empowered and author
ID
First-~To locate, construct and build.
q thereafter 20 own, maintain, mauape 1
d use, by running thereon its engines ard |
is, railroad with one or more tracks | :
d suitable turnouts of such gauge and
obstruction, and upon such Il Course or | E
ute as uay Ge deemed by majsrlty of I
director, oS said company most proper ! i
lrcitnt or necessary, and most for The in |
est % tlle said company and best adapted | {
the public accom- mediation from a point | I
the limo of the railroad of the New DC | i
nS Siobil'' and Texas Railroad COMPANY | 9
or near Eermilionville, in the parish OF I
fayette. toward and to any point within | t
; corporate limits Of the city Of Shreve- | q
It. in the parish of Cadlo, which NAV be | I
Iured by said company for uses and pur. .
So ni 4t- business !.
'erond-!og the purpose Of connecting e
SAID .l:'ln line railway, hereinbetrrr dies. il
ttca, "Ith other railroads within the | c
ite. or Tor the purpose of giving t. any | %
'lsh adjacent to said lines OF road in | n
ased facilities tor the transportation OF | G.
ducts, the faid company is empo wered G
authorized to locate, construct and ! d
III. thereafter 10 own, maintain, manage a
use, by running thereon It's engines and | et
3. such branch railroads and tracks. | n
ept ~ hereinafter Restricted, a, {. major a
OF directors OF said company NAV, iron | E,
9 to tune. deem to be proper anu exoe- II
ut, and tor The interest OF said company Il
'wn and use. ii
hira-io construct, establish or pur- 81
st IN this State, and thereafter to own ii
q Is.in and amin liz. Ln.