New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1877-01-05
No. 81.
AN ACT

AN AC1
To charter the North Louisiana Railroad
Company; defining its objects, duties,
powers and exemptions; authorizing the
corporation to purchase connecting rail
roads or to sell its own railroad, and au-
thorizing the corporation to 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 G. Moncure, w. II. BOffinger
James q. Richardson, j. B. Guthrie. A. H.
Leonard, John Robertson, G. L. Smith,
Joseph BOisseau; William Robson, w. H.
Elstner, Aleck Boarman, B G.. White, j.
M. Foster, w. S. Haven. N. w. Murphy,
John j. Koran, A. b, Levisee, T. G. Standi.
fer, Adam Riser, F, NJ. Mccormick, L. NJ
Kidd, o. Il. Brewster, D. T. Head, George
w. Tompkins, w. L. Ford, l.. W. Baker
W. Hendricks, B. M. johnson. Benjamin
Morey, w. Jasper Blackburn, John Young,
j. L. Roche, james Crowell, M. Carr, John
G. Wo0dville, L. B. Hadley, A. B. George,
T. B. Neal, j. S, Roam, A. G. Simonston, G..
L. Gaskins, w. G. Broadwell and G. w.
Barnard, and their associates and success
sOrs, be and they are hereby created body
polite and corporate by the name of the
North Louisiana Railroad Company" and
shall be known as such, and have
perpetual succession, for the purpose
of maintaining and operating a rail
road and magnetic telegraph on
the line thereof from Shreveport to
Monroe, with a 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
river, in the State of Arkansas, and said
corporation is also vested with authority to
construct, purchase or operate a road be.
| tween Monroe end a peint on the Misss-
Ie.y ,susyv -
| 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 vote of four-hfths
of the stock, to an amount Lot excee ding
| four million dollars.
SEC, 3. Be it further enacted ETC.. Thai
| the officers, engineers, fremen and Other
employees of said company shall be exempt
from Jury duty and from military dpty, OK
cept in case of invasion or instruction.
SEC 4. Be it further enacted, ETC., Thai
said company shall have the right of way
|
| Louisiana, to the width of one hundred anC
fifty feet on each side of their rOadbed
and shall have the right to cut and usS
timber and snch materials on the lands O.
the State, as said company may see fit fol
ak miles on each side of said road; pro
vided, that said railroad shall be com
menced within one year after the passag,
of this act, and shall be finished in fv,
years after the commencement of worl
thereon.
SEC. S. Be it further enacted, etc., Tha
within six months after the passage of thi
act the first seven herein named corpora
tors, or a majority of them, shall call
meeting, by ten days publication in thu
daily papers of Shreveport and New Or
leans, of the ineorpOrators at the domicill
of the company, who shall fix a time AMI
place to open books of subscription, deter
mine the amount and terms of payment o
subscriptions to the stock, fix a time II
close the books OF subscription and call |
meeting of the stockholders or subscribers
and organize the company by holding al
election for board of directors from anon
the stockholders. The board of director
thus elected shall hold their offices for ON
year, and until their successors shall b,
elected and qualified.
SEC. 6. Be it further enacted. ETC., Tha
each steckholder shall be entitled TO on,
| NOto lOE every sHhTo VI MS Cdplbdl bVDCh
and shall have the right to vote in persOl
or by proxy.
SEC 7. Be it further enacted etc., Tba
the business of the corporation shall b
conducted at it's domicile by board o
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 vancaney in the board of director
during the period for which they wer
elected shall be filed by q majority vote O
the remaining directors.
SEC. s. Be 1t further enacted, etc., Tha
the second election of directors shall b
held at the domicile OF the company, on tn
fourth Monday of October of the year fo
lowing the first election, and shall h0l
their offices for one year from they day @
their election, and til their successors ar
elected and qualified, and each succeedin
election for directors shall be held in lik
manner and for q like period.
SEC. 8. Be it further enacted, etc, Tha
within ten days after board of director
shall have been elected, they shall cleo
one of their number president, and ma
elect vice president from among then
selves to act as president in the absence {
the president. The board of directors sha
elect treasurer and secretary; sneh Othe
officers as may be deemed necessary sha
1
reetOrs shall fix the amount of salary an
compensation of its officers, and the amour
of security to be By them given, and enal
bylaws and regulations 10 govern them
their various duties.
SEC. TO- Be it fuRther enacted, ETC., Ths
the president of the company is the office
designated upon whom legal process ma
be made, and such service may be made
person or by leaViag the same at the OfiC
Of the company, at its dOmicile, with an
of its officers.
SEC. IL. Be it farther enacted. etc., Thi
the said company shall have the right, an
power is hereby conferred upon it, TO q
quire by purchase or otherwise any railros
! now built. or which may hereafter be bull
between Monroe and the Mississippi rive
} at or near point opposite Vieksburg,
the State of Mississippi, and also any r.
) road now built, or which may be built,
tween Shreveport and the Texas SeAte lin
! or terminus Of the Texas Pacific railr0a
D In which purchase they may acquire D
: Trights, privileges, appurtenaneesy propert
{ and franchises of the corporations or col
: panies from WhOm they may purchase, al
J any railroad osmpany or corporation viii
J. has built, e. hereafter may build
9 railroad between Monroe and the Miss
y 4 ami river A q mint onDoaifo nF "A