The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-03-06
AN ACT

come N law HY ltIIiuhtlbus
Will. A. STRONG,
Secretary of State.
No Sal AN ACT
incorporating the Louisiana Land Reclama-
ton Company; TO authorize encourage
and assist In the reclamation and protec-
ton from tidal overflow certain lands in
and belonging to the State of Louisiana J;
and TO compensate them, the said Com
pany, by grants OF swamp lands and to
confer upon them other rights and privi-
leges In furtherance thereof of the pur-
poses of this act.
SECTION |. BE II hereby enacted by the Senate
and House Of Representatives. Of he State Of
Louisiana, M General "A ssembtg commenced That
Columbus II. Alien. Robert s. Howard. John
B. Levert, q. W. Terrell, John j Gidere, A. j.
Gomila, William A. Gwynn John T. Moore,
Jacob M Frankinbush, John r. Kent, Will
liam Pagan, John b. Wood, all of the city of
New Orleans, and their associates, assigns
and successors are hereby created q corporate
body. under the name and title of the Lou
isiana Land Reclamation Company for the
purpose Of retaining and protecting swamp
and Overiowcd lands in the State OF Louisi-
ana by constructing canals, levees, dykes and
other necessary apnultenances and appenda
gees to prepare said lands for rice culture
pasturage and'other pursuits. and for habita-
lions, settlements navigation and iIriga-
ton.
Sec. g. BE 1t further enacted,
ARTICLE ONE,
That said company shall have domicile in
the city of New Orleans: shall have the power
10 sue and be sued; shall have perpetual sue
cession, and shall have a corporate seal The
business affairs of said company shall be
managed by board of directors, to consist of
eleven persons who shall be stockholders of
the company to the extent Of five shares each,
who shall be elected, annually Mt an election
to be held at the Office OF the company on the
ffTuf Mnniu u nf tho month pf Ttarar,1,ar. In,
each year, by a vote of a majority of the
stockholders, each share of whose stock shall
count as one vote, but not to exceed fifty votes
by any one stakeholder. and said board of
their own number, and they shall hold Office
for one year from the date Of their election, or
tifftSM their successors arc duly elected and
qualified. No transfers of stock shall be per-
mitted within ten days previous to an election
OF Directors The persons named in this act
lsection 1st shall constitute the first Board of
Directors, and shall elect their president and
shall hold office until the first Monday in the
month of December, 1879, or until their sue
cessors are duly elected and qualified and a
failure to elect and qualify successors to the
Board OF Directors shall not work forfeit
IRE of this charter nor dissolve the company
at any time. The Board of Directors are en-
powered to elect president pro tenn. or to
fill any vacancy among the directors. caused
by death or resignation or by the absence Of
the president. The president shall preside at
all the meetings Of the Board Of Directors.
shall be the proper officer on whom citations
and other process shall be served. and he
shall sign all contracts and evidences Of debt,
but in his absence the president pro TEN. shall
serve In these and all other capacities per-
tanning to the president.
ARTICLE TWO.
The capital stock of the company is hereby
fixed at the sum of one hundred thousand
dollars, represented by one thousand shares
OF one hundred dollars each. which shall be
paid for in such installments as the Board of
Directors may determine and no stakeholder
shall be held liable for any amount hevond
his Or her subscription; and in case any sub
scriber to stock refuse or neglect to pay the
subscription, within sixty days after same
falls due, the Board of Directors may declare
the stock forfeited to the company and may
Keep or dispose Of same
ARTICLE THREE.
The President aud Directors are authorized
TO create and appoint such officers and agents
as they may think proper. for the manage
ment OF the affairs of the company and they
may adopt such regulations and bylaws as
may be deemed requisite and proper and
may alter repeal and amend the same at
pleasure; provided that such rules and regu-
iations and bylaws be not inconsistent with
the law and these presents.
ARTICLE FOUR.
This Association is formed to continue fifty
years unless dissolved by avote representing
q majority of the stock and stockholders in
amount aud number, or by law and shall be
Hquidated by a board Of five commissioners
selected from among and elected by a vote of
a majority Of the stockholders
.... ARTICLE FIVE.
The Association of the Louisiana Land Re
clamatlon Company is hereby authorized to
receive and accept grants and appropriations
OF land, to buy and sell land to dispose of.
ALLEVIATE, convey, cucumber, hypothecate the
same, or any property acquired by the Com
fany, IN any way. and may borrow or loan
money and issue bonds, and sell the same
Tor the use and purposes of the COMPANY.
and Its special business shall be to contract
Tor the construction of levees, canals dykes.
bridges, buildings dredges. boats, and other
water craft, and for all machinery and
appurtenances necessary for the purpose of
retaining and protecting swamp and over
flowed lands in the State Of Louisiana.
and for selling, leasing, renting and cultiya-
ting the same, and rearing or purchasing stock
ana ANIMALS for the same, and for the prepa-
ration BY threshing, milling and manufac-
turing the crops and for conveying same to
and fro or other disposition OF them, and
shall have the right to fix and collect tolls.
rates or trelghts for same and for the use and
navigation Of any road. canal, or other pas
sage through their lands and water WAYS.
waters, and lakes or change the course and
current OF any waters, whenever same
may be required for construction, operation,
protection. navigation or irrigation of said
lands. canals and leveeS; prorided that thew
shall not nave the right to close or change
the natural course of any nayigable bayou
or streams: and pr0rided that no dyke or
dams shall be constructed SO as to impede or
impair the drainage of any lands not in
cluded in the grant aforesaid, and it Is fur
Their invested with all corporate powers, func-
Hons and franchises usual and necessary in