New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1877-01-03
p.97.
AN ACT

AN ACT
To charter the North Louisia1 X abroad
Company; defining its Objs., duties,
powers and exemptions; autfizing the
corporation to purchase conoting rail-
roads or to sell its own railrd, and au-
thOrizing the corporation tossue bonds
of the corporation. ....1.
SECTION l. Be it enacted Bthe Senate
and House of Representatives. the State
of Louisiana in General Asse1y convened,
That John C. Moncure, W.. Bothnger,
James q. Richardson, j. Bnthrie, A, II.
Leonard, John RobertsOni: u. Smith,
Joseph BOisseau; William p6son: W. II.
ElstDer, Aleck BOarman, ~. White, j..
NJ. Foster, w. 8. Haven. w. Murphy,
John j. Koran, A. B. Levitt T. y; Standi-
fer, Adam Riser, F. M. M1rmiek. l.. Nj.
Kidd, o. Fl. Brewster, D. Head, George
w. Tompkins, w. +. Flo. L. w. Baker.
w. Hapdricks. B M. j son, Benjamin
Morey, w. Jasper Blackp, John Young,
J. L Roche, james Grow "a. Carr, John
C. WOOdville, L. B. Hag, A. b. George,
T. B Neal, j. s Roam, !. Slmonston, g.
L. Gaskins, w. G. BrtWell and g w.
Barnard, and their aseates and succes-
sore, be and they are hey created body
polite and corporate the name OF the
''NOrth Louisiana RAild Company, and
shall be known Ssnoh,, and have
perpetual successiOlLor the purpose
of maintaining a19peratng q rail-
road and a mstie telegraph on
the line thereof I'M Shreveport to
Monroe, with a BIRD thereot commence
inc At some suitable MT on the main line,
ana running via PER TO the Arkansas
line in the directOf Fulton, on Rid
| river. in the Stats Arkansas, and said
| CORPORATION is also ted with authority to
| copstruct. purchasr operate q road be.
/ tween M9hrne ar p0int on the Missis-
sippi river oppOsf near Vlcksburg, I'D
corportion may ana DC sued, have
common seal. e and repeal bylaws,
and do and perf, all acts, and exercise
ali riehts and DR. ges by law incident to
eorporations. TOmicil of said corpora
tIon ia fixed at fly of Shreveport.
SIC. 3. Be itther enacted, etc, That
the capital sto( said company is fixed
AFT two million ara, divided into twenty
tbonaand abaOf one hundred dollars
each The M stock of the company
NAV be- ipcrp, by vete of fOur-fifths
of the stock, a amount lot exeee ding
fonr million IRE.
SEC, 3. Bsnrther enacted, ETC.. That
the oficaral ineerg, tiremen and other
emnlnves n company shall be exempt
from isrv dind from military dpty, ex.
cent IN essnvasion or insnrreetion.
SEc 4 pfurther enacted, etc, That
said comm hall have the right of way
Through ands owned by the State Of
I,nnisiana he width of one hundred and
fiftv feetsa side of their rORdbed,
and sbaFe the right to cut and use
Hmber aheh materials on the lands of
the Stat said company msy see fit for
six mild each side of said road; pro-
] vided said railroad shall be COM
n,encedin one year after the passage
of this and shall be finished in five
vears the commencement of work
!, thereg
SEoe lt further enacted. etc., That
, ,vithiFnonths after the passags of this
Adj ~ seven herein named corpora
sors majority of them, shall call a
, neatly ten days publication in the
daiIhTs OF Shreveport and New Or.
3 Isabthe incorporates at the domicile
, ~ 3mpany, who shall fix a time and
. Ms open books of subscription, deter
2 NH amount and terms of payment Of
! sn1tions 10 the stock, fx time to
:, cIe BOOKS of subscription aud call
= NJ OF the stockholders Or Subscribers,
= aJganize the company by holding an
D "a for board of directors from among
> SockhOlders. The board of directors
o aeeted shall hold their offices for one
u and until their successors shall be
II d and qualified.
D !. 6. Be it further enacted, etc That
steckhOlder shall be entitled TO one
y for every share Of his capital stock,
d shall have the right 10 vote in person
s,ly proxy.
JIG. 7. Be it further enacted, etc, That
n business of the corporation shall be
'hducted at its dOmieile by a board of
yen directors, in whom the corporate
'wers OF this company shall be vested,
hO shall bs stockholders; five of whom
all constitute a quorum to transact bust.
SO, A vancancy in the board of directors
ring the period for which they were
ected shall be filled by majority vote of
9 remaining directors.
SEC. g. Be it further enacted, etc, That
Q second election of directors shall be
Id at the domicile of the company, on the
urth Monday of October of the year fol-
wing the first election, and shall hold
cir offices for one year from they day of
cir election, and until their successors are
ected and qualified, and each succeeding
ectiOn for directors shall be held in like
amer and for like period.
SEC. 8. Be IL further enacted, etc, That
thin ten days after q board of directors
all have been elected, they shall elect
10 of their number president, and may
cot vice president from among them
lves to act as president in the absence of
10 president. The board of directors shall
Get treasurer aud secretary; such other
hcers as may be deemed necessary shall
, appointed by the president. The di-
ct0rs shall fix the amount of salary and
,mpensatiOnO Of its officers, and the amount
security to be by them given, and enact
Laws and regulations TO govern them In
eiF various duties.
SEC. 10. Be 1t turther enacted, etc., That
10 president Of the company il the officer
,signated upon whom legal process may
, made, and such service may be made in
,rson or by leaving the same at the office
the company, at its dOmicile, with any
its officers.
SEC. II. Be 1t further enacted, etc, That
10 said company shall have the right, and
aver is hereby conferred upon It, TO &C.
lire by purchase or otherwise any railroad
~ built, or which may hereafter be built,
stween Monroe and the Mississippi river,
or near q point opposite Vicksburg, in
10 State Of MiesissJppi, and also any raul
'ad now built, or which may be built, be-
Eeen Shreveport and the Texas Soate line,
! teFminus OF the Texas Pacific railroad,
which purchase they may acquire the
gifts. privileges, appufbenances, property,
aa franchises OF the corporations or com
Anles from whom they may purchase, and
~ rGuroaA company or eorpOrntion which
g built or hereafter may huile 9
AltSad bqtuesn EonFOs and TIE slissis-
Ppi river 81 point opposite o. near