New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-01-07
COURT RECORD.
TUESDAY, JANUARY 6, 1874.
Supreme Court.

| refused to obey the order, and on appllca.
| ton of plaintiff in above entitled case, an
| order to show cause was granted this morn
ing, returnable January 10, 1874.
| Superior District Court.
The following petition was filed to day:
| George Woods vs.. President and Direc-
| tors of the New Orleans Gasfight Com.
pany.-The petition of George Woods, nat
ural tutor for his minor children, a resident
| of the city of New Orleans, respectfully
represents: That he is the holder and owner
| in his own right and name of seven shares
| of the capital stock of the New Orleans
| Gaslight Company, a body corporate and
polite in law, created by an act of the
| Legislature Of the Sta.e Of Louisiana, ap-
proved the first day of April, A. ID. 1885.
J which sad corporation Is domlclled In the
! city of New Orleans, and within tho juris-
| diction of this honorable court.
| Petitioner shows that By section forty
| four Of the act Incorporating the company
aforesaid, it is provided that the said char
ter shall expire by limitatica on the first
day OF April, 1873.
Petitioner further represents that by the
| forty second section OF tie said legislative
charter it is provided that, at the expira-
| ton of said charter, viz: April !, 1875. the
municipal corporation Of the city of New
| Orleans shall have the right % purchase
| the gasworks which may then have been
constructed by the said New Orleans Gas
| light Company.
| Petitioner still further represents that by
an act of the Legislature Of Louisiana, APP
proved on the twentie tn day of April, 1870,
d charter was granted to certain persons,
| who with their associates and successors
| were constituted body corporate and
| polite in law, with the name and style OF
the Crescent City Gasljght Company; that
| the said corporation was granted by the said
| charter the exclusive right to make ana
yend gaslight within the city OF New Or
leans from and after the first day OF April.
| 1875 the time of the expiration Of the char.
| ter of the New Orleans Gaslight Company.
| which has the exclusive right to make and
vend gaslight in said city until that time.
Petitioner shows tina. the New Orleans
GasIight Company has a surplus OF earn
iDgs OF more than 100000, as petitioner is
| informed and believes. which, fund to-
gether with the proceeds TO be realized
| from the sale of the gas works at the ex.
| piration of the charter, to wit: April !,
| 1875, az aforesaid, should then be dis
! tributed pro rata among the stockholders
OF the corporation after the pay ment OF ell
| debts.
Petitioner shows, however that the board
of directors of the said company have been
| and are expanding the surplus fund afore-
| said in the erection of buildings at an ex'
travaeapt cost, which are not ne eded for
| the conduct of the legitimate business of the
! company, and have been and are expendlng
| large and unnecessary sums Ill the con
| structi0n Of new works which will become
comparatively valueless at the expiration OF
| the charter as aforesaid, and thus realize d
considerable loss to the stockholders and
| an irrepar able in Jury to the petitioner.
Petitioner still further shows that his
shares of stock aforesaid ~er. worth more
| than $1,000 before the unnecessary and
| He gal expenditure of the surplus fund by
| the president and directors OF the corpora
ton, as aforesaid, but that ii the said direc-
! tors are permitted to expen,! the surplus
! fund as aforesaid, the value of petitioners
stock will be greatly deprecated in value
| and he will suffer all irreparable injury.
| Petitioner again shows that On the first
| day of March, 1860. the Legislature of
Louisiana passed an act tbeing No. Sc of
| the acts OF 1861, entitled IAN act to extend
the area OF gas Lighting IN tho city Oh Sew
| Orleans, and to reduce the price now paid
by gas consumers" Petitioner shows that
| the present board OF directors Of the said
| company pretend that under The same last
named act the charter OF The company was
! extended for period Oh twenty years be-
| yond the time OF expiration liked 10y the
| original charter a. aforesaid. Petitioner
| shows that such pretens'0n Is utterly With
| out foundation in law. Nevertheless, Yeti
TONER AYERS. the board Of directors arc ad.
| ministerin. the affairs Of said company u.
if IL was not Ia be wound up on the first
! dav OF April. 1875. al. 70 the iyrepaGahie in
! Jury of petitioner.
| Petitioner shows further that said ;Iresi-
! dent and directors have evaGed ans con
/ tinued to esads . judicial construction Hy
the competent tribunals ct :hlS State OF
! said act 8. 1860. with intores: 20 do other
| than wind up said corporation and dig
! tribute its effects in conformity with the
| letter and spirit OF sala section forty Jour OF
| the act OF 1888, and on the contrary have
and do use and employ said act OF 1860, and
| will continue to do SO, :s an !rdncement Tor
| contract, Justification tor OUTLAWS and au
thority to incur corporate liza bllitles and set
! afoot corporate obligations, which and where.
| by the estate Of said New Orleans Gaslight
| Company will inevitably he involved in
| prolonged and expensive litigation. the
| proper distribution of its effects embar-
raised, hindered and delayed, and the dis.
| tributes thereof exposed to great inconven-
| fence and irreparable loss and injury, all OF
which can and may be avoided by present
! and speedy adjudication OF fi.e validity of
! the act of 1860.
| Petitioner shows, finally. that in order to
| protect his rights and interests in the prem,
| ises, and to prevent the destruction OF the
| value of his stock aforesaid, a writ of in
| II
| hibt the president and directors Of the New
| Orleans Gaslight Company from the acts
| heIeiubefore complained OF.
Wherefore, the premises considered, pc
| titioner prays that James jackson, presi-
| dent of the New Orleans Gaslight Com
| panv, and B. Biscoe, Charles Macready,
| John Geddes, James jackson, J. W. Bur-
! bridge and Albin Eochereau, constituting
; the board of directors Of said company, be
| aitoE 20 and this untltlon.
| and that a ter all due proceedings had and
| !. trial Of this case judgment may be rem
| dered decreeing the issuance OF a perpetual
| wilt of Injunction, enjoining. prohlbltlD.
| and restrai ming the said president and d.
rcctors from expanding any portion OF the
| surplus earnings beyond ordinary and
! necessary expenses, administered by
them. tor any, purpose whatever; ana
enjoining, prohibiting and restraining
them, the said president and directors,
from doing any executive CT administrative
| act looking to d cor tinuaIco OF the cor
| poration beyond the first day of April,
! 1873, and eHioining ard restraining and
prohibiting them, the said president and
| directors, from doing ans act whatever
calculated to interfere il any way with
| the dissolution OF the corporation al that
| date, or with the liquidation OF its affairs
ana distribution OF its assets among its
| stockholders.
| Petitioner reserves the right to sue the
| aforesaid president and directors Tor the
NAL. administration OF the affairs OF the cor
| poration. of the unne cessary and illegal ex-
| penditure of the surplus ard reserved fund
| of the com pany as aforesaid.
| Petitioner prays for all such further and
| general relief as the exgencies % The case
| may demand or the law permit.
He prays for costs. ana will ever continue
to pray as in duty bound.
First District Courss