The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-10

claim of the State OF Lousians, or the rights Of
| any creditors Of such corporations, and that no
completed until IL and the terms and conditions
| thereof shall have been approved by majority
or such number ~ may be required by the
original charters OF stockholders OF such CONSOLE
dating companies, respectively; and provtded
further, that the agreement for such consolida-
ton, together with the evidence of the approval
tbereofby such stockholders, shall be fled In the
office Of the Secretary Of State; and prousded
further, that no railroad corporation shall con-
solidate Its stock, property or franchises with any
other railroad owning parallel and competing
line.
sEo Q. Be IL further enacted, etc.,, That the
said corporation which shall be so formed by the
consolidation of two or more railroad cerpora-
lions % aforesaid shall have, possess and exer-
oise oil the rights, powers, privileges, immuni-
ties aad franchises, and be subjset 10 al the
provisions OF this aot) conferred, and imposed by
law upon such companies 30 consolidating or
either Of them, and said consolidated company
shall have power to fix the number OF Its direc-
tors and the time OF their election, the number,
names and duties OF it's officers, to pas bylaws
for the government OF The company and aaanage-
ment Of Its affairs, TO fx the amount Of it's capt
tai stock which shall BIO divided into shares Of
one hundred dollars each and issue bonds
and dispose of the same In such
form and denomination and bearing
such interest as the boaru Of directors may deter
mine, and to secure the payment thereof by the
franchises, rights privileges and iipmuniaes OF
ESD consolidated company, and Of the companies
from which IL WAS formed and to do all other acts
and things which the said companies 90 oonsol-
dating, or either OF them, might have done pre-
vious TO such consolidation. And In case the
companies consoH ated under the provisions OF
this act arc the owners Of railroads heretofore
owned by corporations, which have been preyi~
ously consolidated according to the statutes of
this State, tho corporation formed By the consol-
idatien under this act shall have and exercise all
the rights, privileges franchises end immunitiss,
and DO subject to all duties and Liabilities con-
ferrod and imposed by law upon the corporation
formed upon such previous consolidation.
sEo 3. BE further enacted, ETC., That tho
principal Office Of said consolidated company
and branch offices may be established at such
place or places, In or ont of this Safe, as tho
Board Of Directors may determine, for the cons
venient Transaction of business, and meetings
there held and resolutions adopted shall be law
ful and binding; prouided, that an Office or ofii-
Ger be maintained and preserved In this state,
where and upon whom citations may be served.
and proulded further, that when corporation
created by or under any law of this state 10 con-
sohdated with any corporation created by or
under any OF any other state. the consolidated
corporation shall, for the purposes OF litigation
with citizens OF this State, have its domicile
within the State of Louisiana and be subject to
the jurisdiction OF the cot IL Of this Stale.
BIO. .. Be 1fatlter enacted, ETC., That this act
shall take fleet aud be ia force from aud after
its passage.
speaker Of the Fl use of Re personalities.
(Signedl LOUIS A. Witt,
Lieutenant Governor and President O. the Senate
Approved March 8, 1877.
(sgned) FRANCIS T. NTCHoLLs,
Governor Of the Sta Of Lguisisna,.
A true copy.
OSCAR ARROYO,
Assistant secretary Of State