New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-01-15
LAWS Of THE STATE oF LOUISIANA
PUBLISHED By AUTHORITY.
NESSlON or 1873.
No. J II.
No. III.
AN ACT
To incorporate the Louisiana Central Kali

AN ACT
To incorporate the Louisiana Central Rail
way Company.
SECTION !. Be- 1t enacted by the Senate
and House Of Representatives of the State
of Louisiana IN General Assembly con-
vencd, That Eber Il. Ward, Thomas A.
Scott. Oakes Ames, Arthur Edwards, H. e.
Potter, Il. j. Bowman, f. W. Kellogg. and
such other persons AS may hereafter be as
socia.ed with them and their successors,
are hereby constituted body corporate I'M
der the name of the Louisiana Central
Railway Company, and by that name shall
have perpetual succession, may sue and be
sued, hold real and personal property. may
make contracts, may receive grants OF lands
or personal property and shall possess all
the powers and privileges pertaining to cor
purate bodies, and such powers and privi-
leg.s as are in This act conferred upon said
company, and shall pOssefs the right to eX-
ercise and enjoy all powers and privileges
which corporations are or may be by any
general law OF this State authorized to
possess; and said company shall possess the
power to exercise its corporate powers
within the Srate of Louisiana, and also
within any other State of the United States
that shall authorize the exercise Of saId
corporate powers within its limits.
SEC. =. Be it further enacted, etc, That
the business and corporate powers OF SAID
company shal. be conducted and exercised
by u board OF not 1t SIS than i've directors,
and such officers and agents as such board
shall appoint, or authorize TO DO appointed,
and empower OF authorize 20 tie empowered
to conduct any part OF said business. or
exercise any OF sal powers il accordance
with its by laws. The officers, agents and
servants of the said company. within the
State eff Louisiana, shall be exempt from
jury duty and from military duty. except
IN ease OF INVASION OF lnsurrect1on. NO
person shall be a dire ctor who 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
such time and place as shall be designated
by the bylaws Of the company. and the
directors shall continue III Office Hntil
others are elected or appointed to fill their
places. and SHALL have power - I'LL vacan
cies in their number caused By death,
resignation or 9th. rwise. The persons
herein named ns cOrporators snail be the
directors Tor the first year aut unit. Others
are elected or appointed TO I'LL their places.
The directors shall elect one OF their mum
Der president OF said company, and shall
have power 20 make and prescribe such by
laws, rules and regulations, and from time
&
they shall see tit. touching the government
of said company. The transfer Of its stock.
she election of its officers. the management
AMI disposition of its business. property
and effects, the power and conduct OF lie
officers and agents. and all other matters
Which shall in AIRY way pertain 20 the con-
eern of said company. All elections tor
directors shall be- hy ballot, and every stock
holder shall be entitled to one vote. III per
son or by proxy, for each share Of etock
held Or owned by hin 4 majority of the
directors shall constitute q quorum for the
transaction o, business. and ihe number Of
said directors may be increased or di-
unfinished by Is majority vote OF the stock.
boldeIs in interest at any annual meeting,
provided the number shall not be iess than
i've nor more than seventeen; and any meet
ings oG stockholders or director. of said
company Iuay be held. and the bu.iness OF
such meetings transacted. within OF with
out this State. as said stocl holders or direc.
tor. may from time 20 time elect to call
such meetings.
SEC 3. Be it further enacted. etc. That
fie directors Of the said company at their
fi:e. meetin. shalt determine the amount OF
capital stock Of said company, which stock
shall be deemed - be personal property
and transferable as such. and shall be In
shares Of one hundred dollars each. and the
directors shall provide for receiving sub
Script.,n 10 the amount Of capital stock as
fixed and determined by them. and shall
pr, scribe the time and manner Of payment
Therefor, and thereafter the amount OF the
capital stock Of said company may be in.
creased from time 10 time by u vote of "a
majority in interest OF the etcchholde rs.
voting IN person or hy proxy. Il: IL nleetin (
duly held. and no: otherwise. No stock.
hol,'er in said company shall be individually
liable ior any deb, or liability Of said com.
,,.ny, but eac, stakeholder shall be liable to
the company :oy the payment OF the shares
o. stock subscribed by lin. in accOrdaEce
with the terms OF hi. subscription there tor,
and not o;herwis-. The director. OF sale!
company shall have power to require the
stockholders 10 pay their subscriptions in
sccordancs with 'he terms thereof, and on
such Notice as said dir. ctors shall prescribe.
under penalty Oi forfeiture TO said company
in ease of default of the shares upon which,
such. paymeu. shall be required, and all
previous payments thereon. or the said
company may sue for and recover the
amount Cf such calls in its discre.ion and
the directors Of said company shall have
power 20 rect i've in payment for subscrip
tons to the capital stock ef said company
any property which Said company is by the
provisions of this act authorized to own.
provided that the terms and conditions
upon which such property is to be received
shall first be approved by majority in
interest of the stockholders of said COM
pany; provided, however, that the corpo-
Jaiors named in the act shall have power at
their first meeting to receive any such prop.
e:ty in payment for the stock of said COM.
pany. and to issue such stock upon such
terms and conditions as they may deem
expedient and fox the interest Of said com.
lanv.
SEC. T. BE it further enacted, etc. That
the said comnany is empowered and author
:zei--
Trst-Tc locate, construct and build,
and thereafter TO own, maintain, manage
AID use. by running thereon its en- ines and
cars. a railroad with one or more tracks
and suitable turnouts of such gauge and
aud upon such a course or
route rs may be deemed by majority Of
the directors of said company most proper.
or necessary, and most for the in
ferest Of the said company and best adapted
Cor the public accommodation from u point
On The Inns. Of the railroad Of the New Or
leans, Mobile and Texas Railroad Company
a. or near Vermil!onville, in the parish Of
Lafayette. toward aud to any point within
tae corporate limits of the city of Shreye-
port. in the parish Of Caddo, which may bc
acquired by said company for uses and pur-
poses of its business.
second-Fu: the purpose of connecting
il said ,naiu line railway, hereinbeiore des-
ena.od. with ether railroads within the
5 ate. or FIR tie purpose of giving to any
parish adjacent az said lines of road in
rraseG facilities for the transportation of
products. 'h- sai1 company is empowered
and Authorized to locate, construct and
ia III. ,hpveafte: TO own, main tain. mana 20
and use. by running thereon it's engines aud
,ars. such branch railroads and tracks.
- c,pt "a hereinafter restricted, as a msioE-
~ Of directors OF said company may, from
line {. time. deem - be proper ana expe-
lent, and for the in .eres. of said company
!" own and use.
This.!-io construct. establish OF pur-