New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-03-29

poration of the same name, incorporated by
the State of Alabama, is authorized and
empowered by this act to convey to the
New Orleans and Texas Railroad Com
pany all or any portion Of the railroad
corporate rights, franchises, powers priv
leges and property of the said company,
within the States Of Louisiana and Texas
west OF the Mississippi river, and the New
Orleans and Texas Railroad Company is
hereby authorized and empowered to &C.
cept OF such conveyance and to have per-
petual succession, and to hold, possess en-
JOY, use, employ and transfer the same
under the same conditions, limitations and
restrictions and with the same powers,
faculties, rights, privileges and franchises
as appertaining to the same, which have
been granted or conferred upon the
New Orleans, Mobile and Texas Railroad
Company, or IT'S successors, in it's act of
incorporation, or in any act of the General
Assembly of this State, or of the State of
Texas.
SEC. 9. Be it further enacted, ETC.. That
the New Orleans and Texas Railroad Com
pany are empowered to survey, locate, con-
struct and operate the said railroad or rail
roads, to make combinations or connections
with other railway companies, and to ac-
quire by purchase, lease or otherwise, other
railroads and franchises, under the powers
and capacities contained in any of the acts
passed relative to the New Orleans, Mobile
and Texas Railroad Company, and to make
mortgages for the purpose as expressed
therein, embracing their capacity, fran
chises and estates. and to dispose of the
said railroad, franchises, estates and inter-
ests by lease, sale or otherwise. The said
corporation may provide for lis organza-
ton and perpetual duration, and for the
holding OF corporate meetings, election of
directors and appointment Of officers. and
the acts, contracts, proceedings of the said
corporation done or to be done within or
without this State shall be obligatory and
binding upon said corporation.
SEC. B. Be it further enacted, etc, That
this act, and nothing done under it, shall be
construed to diminish or impair the corpo-
rate powers, rights, franchises or property |
OF the New Orleans, Mobile and Texas Rail- |
road Company as the successor aforesaid in |
the railroads and other estates and interest |
not conveyed as herein provided. Nor shall |
this act be construed as recognizing or renew |
ing any claims of the New Orleans. Mobile |
and Texas Railroad Company, or of its sue
guarantees of bonds, or otherwise, or to |
impair or diminish any claim of the State |
against the said New Orleans, Mobile and
Texas Railroad Company; provided, that
nothing contained in this act shall be con-
either directly or by inference, as
a grant or revival OF any rights. franchises |
or privileges which have been forfeited by |
said New Orleans, Mobile and Texas Rail
read Company, nor as waiver in any re-
spect of the right of this State to recover
by law any bonds that may have been issued
by the State to the said New Orleans, Mobile
and Texas Railroad Company, and be it
further provided that the said New Orleans
and Texas Railroad Company shall COM
plete their said road to Grand river within
four months after the first day of March,
1874, and to the town of Vermilion Vile
within twelve months after the said above
mentioned date, and to the Sabine river or
Shreveport within two years from and after
the first day of March, 1874, and should the
said company fail or neglect to carry out
and strictly comply with all the provisions
herein contained, then this act shall be null
and void and OF no effect; provided further,
that this act shall not be so construed as to
authorize the sale of the right Of way.
franchises or any other property beyond
Brashear City, formerly belonging to the
New Orleans, Cpelousas and Great West
ern Railroad Company, and now in litiga-
ton in the United States court.
SEC a. Be it further enacted, etc, That
this act shall take effect from and after its
(Signed) CHARLES w. LOWELL,
Speaker Of the House of Representatives
lSlgned) G. G. ANTOINE,
Lieutenant Governor and President of the
Senate.
Approved March IA, 1874.
(Signed) WILLIAM 2. KELLOGG,
Governor Of the State of Louisiana.
A true copy:
P. G. DEsLoNDE,
Secretary of State