New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-03-15

PUBLISHED BY AUTHORITY.
No. ~.
AN ACT

AN ACT
To authorize the consolidation of the New
Orleans, Jackson and Great Northern
Railroad Company with the Mississippi
Central Railroad Company, and to confer
certain powers, privileges and immuni-
ties on the company resulting from said
consolidation.
WHEREAS, The property OF the State of
Louisiana and of the city Of New Orleans
will be greatly enhanced by the Increased
efficiency and economy which will result
from the management Of the great railroad
line intending from the city Of New Orleans
to the Ohio river and there connecting with
railways divirging to various points in the
Middle, Western and Eastern States; and
Whereas, The Legislature of the State Of
Mississippi, by acts approved on the eight
eenth day of April, in the year 1873, has
already authorized and empowered the New
Orleans, jackson and Great Northern Rail-
road Company, as q Mississippi corporation
in the State of Mississippi to ama]gamate
and be consolidated with the Mississippi
Central Railroad Company.
SECTION l. Be it enacted by the Senate
and House of Representatives of the State
of Louisiana in General Assembly con-
vened. That the New Orleans, jackson
and Great Northern Railroad Company
be and the same is hereby authorized to
amalgamate and be consolidated with the
Mississippi Central Railroad Company, q
corporation created and existing by virtue
of the laws Of. the State of Mississippi
Tennessee and Kentucky, 80 that said two
companies consolidated shall become one
corporation, on such terms and conditions
and under such name as they may agree
upon; and the said corporation resulting
from said consolidation shall have, possess
and enjoy in perpetuity all the rights, pow
ers, franchises, privileges and immunities
originally conferred by law on either of said
companies in their several acts of incOrpO-
ration and the amendments thereto, and in
case the amounts of the capital stock of
said consolidated company and the number
and value of shares thereof shall not be
fixed in the agreement of consolidation, the
board OF directors of said company shall
have power to fix the amount of capital
stock and the number and value of the
shares thereof, and from time to time in
crease or diminish the same as may be con-
venient: and said shares of capital stock
shall be deemed personal property, trans
ferable according to the bylaws of the COM
pany; and the said consolidated company
may fix the number OF its directors and the
time of their e.ectiOn, create and fill such
offices as may be convenient, and pass
bylaws for the government of the COM
pany and the management of its affairs, and
the consolidated company may issue bonds
in such form and denomination and bearing
such interest as the board of directors may
determine, to an amount not exceeding the
amount fits capital stock; and to secure the
payment thereof may mortgage or hypOthe-
cate any or all its property, real and per-
sOnal, its franchises and income, and the due
record of said act of mortgage in the par
ish or county where the principal office in
each State may be situated, shall be deemed
full and sufficient record of the same. The
said consolidated company, or either of
said companies prior to consolidation, shall
have power to take lease of any railroad
or railroad route finished or unfinished. or
any person or company, chartered or to be
chartered, which connects or may connect,
mediately or Immediately with the lines of
either Of said companies, or of said consOl
idated company, and may exercise
the franchises of any company now
existing or hereafter created, and
upon terms to be agreed on; and in
like manner either Of said companies. as
we'll as said consolidated company, shall
have power to lease its own road or roads
and rolling stock and other property to any
other person or corporation. The principal
office of said consolidated company and
branch offices may be established at such
place or places in or out of this State as the
board of directors may determine for the
convenient transaction of business, and
there held and resolutions adopted
shall be lawful and binding; provided, that
an Office be preserved in the city of New
Orleans, where citation may be served.
SEC. 2. Be it further enacted ETC., That
all laws inconsistent with this act be and
the same are hereby repealed, and that this
act shall take effect from its passage.
(Signed) CHARLES w. LOWELL,
Speaker of the House of Representatives.
(Signed) G. c. ANTOINE,
Governor and President of the
Senate.
Approved March 7, 1874.
(Signed) WILLIAM P. KELLOGG,
Governor of the State of Louisiana.
A true copy:
p. G. DEsLONDE,
Secretary of State.