New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-06-27
LAWS Of THE STATE Of LOUISIANA.
PUBLISHED BY AUTHORITY.
REGULAR SESSION OF 1875.

AN ACT
To incorporate the Louisiana Telegraph
Company. to grant right Of way thereto
and cunter certain privileges and fran
chises.
SECTION 1. Be it enacted by the Senate
and House of Representatives of the State
Of Louisiana in General Assembly con.
vened, That the following persons, Arthur
Oliver, X. I. Hubbard, P. Michel. w. NJ
Robinson, Jack Wharton, Thomas E.
Haynes and their present and future as
sociates. successors and assigns be and they
are hereby constituted and declared to be
from and after the passage OF this act a
body corporate and polite in fact and in
name. by the style and title of the Louis
lana Telegraph Company. and by that
name they and their successors shall be
persons in law capable of sueing and being
sued. pleading and being implicated, an
swering and being answered, and defen.
ding and being defended in all courts
ana places Whatsoever, and that they
and their successors may have q COM
mon seal, and may change and alter
the same at pleasure, and also that they
and their successors by the same
name and style shall be in law capable of
holding, purchasing and conveying any
estate, real and personal, for the use of
said corporations: provided, that the lands,
tenements and heredtaments which it
shall be lawful for said corporation to hold
shall be only such as shall be requisite for
its immediate accommodation in relation to
the convenient transaction of its business
and the properly carrying on and conduct.
ing of it's works or such as shall have been
mOrtgaged to it in satisfaction of debts
contracted in the course of it's dealings or
purchased at sales upon judgments which
shall have been obtained tor such debts.
SEC. :. Be it further enacted, ETC., That
the capital stock of said corporation shall
be one hundred thousand dollars. divided
into two thousand shares of Of fifty dollars
each.
SEC. ,. Be il further enacted, ETC., That
as soon AS possible after the passage of this
act books Of subscription shall be opened in
New Orleans, and as soon as five hundred
shares of stock shall have been taken, a
meeting of the subscribers shall be called,
at which meeting board of directors shall
be chosen to serve until the first Monday of
January next following, when their success
sors shall be chosen; provided, that no one
shall be q director who is not resident
of Louisiana; provided, further, that the in
cOrporatOrs shall have power to fix the per
centum to be paid upon subscribing to the
stock, and the time at which further Install
ments may he called in, until the election of
the first board Of directors, when the power
shall rest with them and their successors in
office.
SEC. 4. Be it further enacted, etc.. That
the dOmiCile of the corporation shall be the
city of New Orleans. its officers board of
twelve directors, who shall elect from among
their number president. upon whom process
shall be served, and also q Sc cretary and
treasurer; all officers to be elected annually,
on the first Monday of January of each
year by ballot, each share represented by
holder or proxy being entitled to one vote;
the president and secretary and treasurer
to be paid salary to be fixed by the board
of directors.
Sec. 5. Be it further enacted. etc. That
the board of directors shall have power to
ill vacancies Occasioned by the removal
from the State, death, resignation or other
wise for the remainder of the year in which
said vacancies shall occur.
SEC. &. Be it further enacted, etc. That
. majority of the board OF directors shall
constitute ',ard for the transaction of
business, W over to make and prescribe
such bylaws les and regulations as shall
appear needN Ad proper. and to appoint
such officers d Y clerks and assistants as
nay be Necessary for the carrying on of the
business and af1E rs of the corporation, al
owing them gu. salary a. they may see
proper. If.
SEC. z. Be it i .ther enacted, ETC.. That
he directors ma declare such yearly divi- !
lends of the pre- it's of the corporation as
hey may deem Advisable. and at each |
annual meeting for the election of directors |
hall lay before the stockholders state
nent of all the affairs and concerns of the |
ompany.
SEC. s Be it further enacted. ETC., That |
he Louisiana Telegraph Company, their |
uccessOrs and assigns, shall have and be
ntitled to the privilege and franchise from |
nd after the passage of this act, for the
eriod of twenty five years, OF constructing
nd operating q line or lines of magnetic |
plegraph. for the purpose of transmitting
Intelligence for themselves and other per
ons along the line or route between the
itiea Of New Oylesps and Shreveport,