The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-04-06
AN ACT

| HHuttoH l. lie II siddidd bU The Senate and
House Of Representatives. If The 4afs If Ipuisidna,
~ General assembly dottuehed, That Charles 4,
ailpins James ailph, w. II, Tyler Dlgo +. lie
bert. Joseph A, Hebert aud others. Ut Madison
parish, and their sneesss6fs, and all seh persons
| al they may hereafter associate with them arc
hereby created y body p3lti and corporate.
named and to he known the Madison Trans
portation Company. and by that name shall have
petps ual succession for aud during the tsrni
hereinafter specified! may enter into aud make
contracts. sue aud be sued. may borrow money
and buy, mortgage or sell real estate and other
property. II necessary, for the purpose Of their
business. may have common seal. and alter tho
same al the pleasure Of the Hoard of ursntors
| RHb, y, lie IL further enacted. ete.. That The ols
ieet Of this company IL TO transport freight aud
passengers. by steam power or otherwise. from
and to any points Oh Bayens l,tushy H5unda.
way. Harpers and Vidal, in the parishes Of nj Adj
spn and Tensas, in the State Of Louisiana.
Enc, 3, He II further ehhttef. etc, That wharaz
AZ, said bayeus are not nsvgable streams. said
company shall have the right TO clean out deep
sn se saS waea sad osybs may deem
navigation and transportatio and shall have the
exclusive right TO build and construct such dams.
looks. levces and other improvements on said
bayous, and within said parishes M II may tisen,
necessary and proper for said purposes aud for
The successful prosecution OF It's business. ip'o.
etdea That said neks, dams. levees and i'm.
pfovements prove III no manner injurious TO pfi.
vate property or detrimental 10 the public good
hHu. 4, Be further enacted. ein. That when
said bayeus shall be 40 cleaned out and rendered
navigable a. aforesaid by or nj the instance of
sad company. aud the said locks. levees. dame
and other improvements shall have been built
and constructed, and said company shall have
the requisite boat or boats and means Of trans.
rortation IN actual running order and IN operation
then the paid Madison Transportation Com.
pany' shall have the cole and exclusive right, nae
and privilege Of said looks, dams and improve
,nente. etc.. Of said bayous. within said
partahes OF Madison and Tanasa, for trans
portatton pntposes for aud during the term
Of this charter. TO wit for fifty years from
toh Of this company. and no other corporation.
person or persons ehall have tho right 10 pass
through or use tho as:d locks. dams and improve.
ments, ana the said bayous where 30 cleaned out,
Tor transportation purposes, except by paying &, |
this maid company Huoh foliage as hereinafter
established, riobfdHd. thai nothing herein |
granted shall interfere with individual rights of |
way. or use OF said bayetis for other purposes |
than transportation. free OF charge or foliage all |
boats aud other crafts propelled bS steam or |
other power uaihg the said locks hayous anu |
other improvements OF tho company for trans.
portat9h pnrpoaee, will be charged foliage for |
each trip according to their respective tonnage
measurement nj ratea not 10 exceed Two cents on
each one hundred weight.
sBo. 0. De II further enacted. eto., That this
corporation shall esipt, enjoy perpetual uuooes-
sion. and The above specified rights aud priyi-
lages for fifty years from the date of tho paasnre
OF this act. unless sooner dissolved by operation
OF law, or mutual consent Of the stockholders.
H9rtded. that. nhleHa within Eve yenrs from The
date OF the passage Of this act, tho said company
shall have made and constructed the said I'M.
provementa and nhal DO in successful operation, |
and nnlena said company shall have com a,enoed
work on said improvement within twelve months
from tho passage OF this act, aud shall nae |
reasonable diligence thereafter In the oonstrue-
ton OF tho same. then this charter may BIO do.
creed forfeited BY the District Court of tho domi
oso 81 nald company and tho affairs Of the COM
pany liguidated pursuant TO Hoctions GUS. 72o aud
75l OF the Revised Statutes OF thia State in which
event the rights and privileges herein conferred
shall cease sud terminate only from tho date of
such judicial decree.
sHo. o, be e further enacted. etc. That The
pftieerH OF said comp nny shall be President
Woe President. Secretary, and Treasurer. to be
elected by tho Board Of Directors from among
themselves
sro. T.. Be Il further eaacteasete. That the
affairs OF said company shall be- managed by a
board OF Eve directors, TO be elected by and from
among the stockholders by ballot aud majority
vote, each share being entitled TO vote that the
present above named ineorporatorB shall DO and
.re hereby constituted and created the frat
Board OF Directors, who shall, within thirty days
tier tho passage OF this aot, hold meeting for
ne purpose OF eleoting officers and adopting by
avs Tor the government OF the company. On tho
irst Saturday Of February Of each year here {
ftor. meeting Of all the stockholders shall DO
'ed for tho purpose OF elooting directors for the
nsuing year. ,
SEC. D. re u further enacted, etc., That the | :
|omicile Of said company shall be and Ia hereby
xed at Tallulah. In the parish of Madison. Lon. q
siana. and the president or the secretary shall
10 tho proper person on whom citation aud nil g
egal or other notices and writs shall be served q
SEQ; .. Be q further enacted, etc., That the
sptal stock OF said company shall be twenty. :
We Thousand dollars, IN shares Of twenty-five
ollars each, payable fifty per centum cash on
INSCRIPTION, on the demand of the secretary, tho
alance in instaments not TO exceed twenty per
al hAo ~ |
fter ten days notice; prouided, that tho capital
took OF tho company may be at any time in
feased by majority vote OF the stockholders at
q especial meeting called for that purpose, to a
lmsnot to exceed fifty thousand dollars.
Sec 10. BE ii further enacted, ETC. That all N
ansfers OF stock shall be made upon Tie books
the company only that all forfetures OF stock ,s
,all be declared by the board of directors at a Is
'gular meeting, and shall be entered on the
ooks Of the company. All forFetures of stock 1s
lail only be valid and binding from the dato OF
10 declaration OF forfeiture by the board OF d. o.
'ctors.
SEC. IL. BE IL further enacted etc, That this N'
'rporaton may be dissolved Mt any time before
10 eA plrauon of the term of this charter by a -
'te OF the stockholders representing not lsss
AN ioar 'htths OF tho capital stock, and upon
- oisso.utlon OF this corporation either by such
wv OF oy tne expiration OF its term Of existence
10 silArs OF the company shall be finally liaui-
atea ana adjusted by q board of three com mis
oners, to be elected by the stockholders under
ribe. S""i' pre-
Sec. L. BE 1t further enacted, etc That th;. al
It shall take effect from and after its nassaas tu
tSigned) LOUIS BUSH e~s'"e'' ht
speaker OF the House Of Representatives Y
lsignedl LOUIS A. Wilt, n n
eutenant Governor and President of The Sarat ~
lsignedl FRANcIs T. NICHOLAS &
- Governor OF the Stats Ct Louisiana. o.
yu.w.ss $50 M