New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-12-01
No. 81.
AN ACT

Assistant Secretary of State.
No.O7.
AN ACT
To charter the North Louisiana Railroad
Company: defining its objects, duties,
powers aud exemptions; authorizing the
corporation tn purchase connecting rail-
roads or to sell it's own railroad, and au-
tholiZing the corporation 10 issue bonds
OF the corporation.
SECTION l. Be it enacted by the Senate
and House of Representatives OF the State
of Louisiana in General Assembly convened,
That John C.. MOncure. w. II. BOfiuger,
James Il. Richardson, j. Il. Guthrie, A. H.
Leonard, John Robertson, G.. L. Smith,
Joseph Boisseau; William Robson, w. H.
Elstner, Aleck Boarman. B. c. White, J.
M. Foster. w. S. Haven. n. w. Murphy,
John j. Horap, a. B. Levisee, T. C. Standi-
Kidd. o. II. Brewster, D. T. Head, George
w. Tompkins, w. +. Ford. L. w. Baker.
w. Hendricks. b. M. johnson. BENJAMIN
Morey, w. Jasper Black burn. John Young.
J. L. Roche, James Crowell, NJ. Carr, John
c. WOodville, L. B. Hadley, A. b. George,
T. B Neal, j. s. Roam, A. c. SimOnstOn, G.
l.. Gaskins, w. c. Broadwell and G. w.
Barnard, and their associates and success
sore, be and they are hereby created body
North Louisiana Railroad Company" and
shall be known as such, and have
perpetual succession. for the purpose
Of maintaining and operating rail-
road and q magnetic telegraph on
the line thereof from Shreveport to
Monroe, with branch thereof commenc-
ing at some suitable point on the main line,
and running via Homer to the Arkansas
line in the direction of Fulton, on Red
r;r ka SSn<n sc Al,
corporation is also vested with authority to
construct, purchase or operate road be.
tween Monroe and q point on the Missis
sippi river opposite or near Vicksburg. Said
corpOrtiOn may sue and be sued, have a
common SEAL enact and repeal bylaws,
and do and perform all acts, and exercise
all rights and privileges by law incident to
corporations. The domicil of said corpora
ton is fixed at the city OF Shreveport.
SEC. =. Be it further enacted. etc., That
the capital stock of said company is fixed
at two million dollars, divided into twenty
thousand shares, of one hundred dollars
each. The capital stock of the company
may be increased, by vete of four-tifths
of the stock, to an amount Lot excse ding
four million dollars.
SEC. 3. Be it further enacted, etc. That
the officers, engineers, tiremen and other
employees of said company shall be exempt
from jury duty and from military dpty, ex-
cept in case of invasion or instruction.
SEC. 4. Be it further enacted, etc., That
said company shall have the right of way
through all lands owned by the State of
Louisiana, to the width Of enc hundred and
fifty feet on each side of their rOadbed,
and shall have the right to cut and use
timber and such materials on the lands Of
the State, as said company may see fit for
six miles on each side of said road pro-
vided, that said railroad shall be COM
menced within one year after the passage
years after the commencement of work
thereon.
SEC. 5. Be it further enacted. etc., That
within six months after the passage of this
act the first seven herein named corpora
tors, or majority Of them. shall call
meeting, by ten days publication in the
daily papers of Shreveport and New Or
leans, of the lncOrpOratOrs at the dOmicile
of the company, who shalf fix time and
place to open books of subscription, deter
mine the amount and terms of payment of
subscriptions to the stock, fix q time to
close the books OF subscription aud call
meeting of the stockholders or subscribers,
and organize the company by holding an
election for board of directors from among
the stockholders. The board of directors
thus elected shall hold their offices for one
year. and until their successors shall be
elected and qualified.
SEC. 6. Be it further enacted. etc, That
each stakeholder shall bs entitled to one
vote for every share of his capital stock,
and shall have the right to vote in person
or by proxy.
SEC. T. Be it further enacted, ETC.. That
the business of the corporation shall be
conducted at its domicile by board of
seven directors, in whom the corporate
powers of this company shall be vested,
who shall be stockholders; five of whom
shall constitute quorum to transact bust
ness. A vancancy in the board of directors
during the period for which they were
elected shall be filled by majority vote of
the remaining directors.
SEC. 8. Be it further enacted, etc., That
the second election of directors shall be
held at the domicile of the company, on the
lowing the first election, and shall hold
their offices for one year from they day of
their election, and until their successors are
elected and qualified, and each succeeding
election for directors shall be held in like
manner and for like period.
Sec. 9. Be it further enacted. ETC.. That
within ten days after q board of directors
shall have been elected, they shall elect
one of their number president, and may
selves to act as president in the absence of
the president. The board Of directors shall
elect treasurer and secretary; such other
officers as may be deemed necessary shall
be appointed by the president. The d.
rectOrs shall fix the amount Of salary and
compensation of it's officers, and the amount
of security to be by them given, and enact
bylaws and regulations to govern them in
their various duties.
Sec. TO- Be it further enacted, ETC., That
the president of the company is the officer
designated upon whom legal process may
be made, and such service may be made in
person or by leaving the came at the office
of the company, at it's domicile, with any
of it's officers.
Sec. II. Be it further enacted. etc, That
the said company shall have the right, and
power is hereby conferred upon it, to ac-
quire by purchase or otherwise any railroad
now built or which may hereafter be built,
between Monroe ard the Mississippi river,
at or near q point opposite Vicksburg, IN
the State of Mississippi, and also any rail
road now built, or which may be built. be-
tween Shreveport and the Texas Sdate line,
or terminus of the Texas Pacific railroad,
in which purchase they may acquire the
fights, privileges, appurtenances, property,
and franchises of the corporations Or COM
panies from whom they may purchase, and
any railroad company or corporation which
has built, or hereafter may build a
railroad between Monroe and the Missis-
sippi river at point opposite or near