The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-03-14

sage Of srhOOnars, lnggers, vessels and other
small crafts that the said canal shall never
have any other exit on tho Mississippi river
than at the place or within the limits above
| named. and any failure SO to do, or any open
ing of any other exit shall operate forfeiture
of this charter, and as q penalty entail the
ownership Of all tho property OF said corpora
tion to the State OF Louisiana without cost to
ts,e State.
SEQ 3. Be il further enacted, etc That snid
| company shall have domeo in tho parish
Of Plaquemines, and shall have power to con
tract. to sue and To be sued, to have perpetual
succession. aud TO have n corporate seal and
| to alter the samo or replace tho snme by
others at pleasure. Tho business affairs Of
| said company shall he managed by a presi-
| dent mud board OF directors 10 consist of ten
| uO persons. including tho president who
shall be elected annually by tho stockholders
on tho first Monday in May. aud hold office
| for the term Of one year or until their sue
| ccssors arc duly elected and qualified The
| persons named IN the first ion If this act
| shall constitute the first board OF directors
and shall hold Office until the first Monday In
| Nav. 1870 or until their successors arc duly
elected and qualified, and failure to oloct
| such Successors shall not work forfeiture of
| this charter.
SEo o. Re il further euactc,o etc. That
rhid company Is hereby vested with all cor
porate powers, functions and franchises usual
| and requisite in the conduct of tho business
| nTnirs aud enterprises Of corporations. and
| the said board Of directors Is hereby empow-
|
tho said board between tho annual elections
| nf tho MENTORS thereof by tho Stockholders
| Of tho company whether such vacancy or VA
| cnueios occur from the death nr resignation of
| any member. or from any other cause The
| said board Is also empowered to employ secre-
taries, trcasurers superintendent. and any
and all othor officers, employees aud assist
| nuts that may be needed to carry on the bust
| ness Of the corporation. and the said board Is
| also empowered tn make such rules hy-lnw.
| Il M ~ put
| for tho government. control and management
| of the affairs and business al the corporation.
and to change. alter and amend The same.
and to replace the same by others whenever
said board may SEQ proper TO do eo
| SEC. l. he II further enacted, fic, That tho
| capital stock OF said company shall between v
| five thousand dollars. divided into five hun
| dret shares OF tifty dollars each. with power
| capital stock to fifty thousand dollars. pay
| able IN such manner and Mt such time, as tho
| board uf directors may determine: prouided
that tho privileges and franchises granted by
this act shall he Forfeited If tho canal be- not
commenced with two years. and completed
within six years from tho PRONUNCIATION of this
| act.
SEQ, :. Re il further enaced, etc. That said
| company shall have tho right of way through
the lnnds belonging To the State of Louisiana,
and through and over all the waters. lakes,
hayous mud buys within saSl State not pri-
| vnte property. for tl@ cpnstlnctiolalnd opera
|
and may Tor the same purpose rntorupon and
usc. by appropriation. SO much of Any lands
FOR waters belonging to private individuals as
| max be necessary. paying to the owners
| thereof suitable compensation. to s)s ascer-
| tanned ON proceedings instituted for the EXPIRE
The said company shall have a. right p to de-
post on any lands, public or private, wher-
over may be deemed exp"lient any soil, mud.
| rocks. stones. dottitus debris or other mat
| ter. which may be removed or excavated in
the construction operation or maintenance Of
said canal. For the construction and opera
ton Of snii canal the said company
may unite bayous, canals, waters.
e,nd lakes, now separate, improve any harbor,
| make any outlet to the waters Of tho Gulf OF
Mexico. or change tho course or current of. or
deepen or widen any bayou, canal lake or
waters, wherever the same may be required
for the construction. operation o. protection
of said canal. and the harbors, lakes, etc
The said company. however. to pay compen-
sation to individual owners that may be
h hirefy an Immediately injured thereby
to connect snid canal at the places named
as above with the Mississippi river, except
by locks and dams of sufficient size and
strength to prevent the current of said river
dams into the said canal; proridcd, that the
same be approved by the State Engineer
SEC, 6. Be 1t further cnacted. etc, That tho
said company shall have tho right to pur-
-
towboats, steamboats,, horses, mules, or any
machines or contrivances for the toWeYge and
passing of small vessels and watea crafts
through the said canal.
SEC. 7. BE 1t further enacted etc. That tho
said company may charge collect and re-
ceive tolls for the passage of small vessels,
luggers. barges. schooncrs. RATS and other
water craft. through or over any part of said
canal, and the same shall n4s be used by any
one without payment OF SAID tolls. and on
m VI of "
lugger. schooner on water craft, the same
shall have the right of passage through or
over the said canal; propided, said company
shall have lien and privilege upon all yes
sells SchoOners. lGggers, and water craft, and
upon the price thereof, for the payment of all
dues for tolls, tonnage, wharfage and an
chorage for the tern, oosix months after the
same is due and exigible.
SEQ 8. BE ii further enacted ETC That said
canal shall be commenced within two years
from the passage of this act. and shall be
completed according 10 the dimensions herein
set forth and prescribed, within six years
not be empowered to collect tolls for the pass
ing OF any vessels, luggers, barges, schooners,
RATS and other water craft until the entire
completion of the work according to tho d-
mcnsions heretofore SET forth and prescribed |
SEQ 9. BE it farther enacted, etc, That said
company may borrow money, make and issue
its promissory notes for the construction and
operation of said canal, and to secure the
payment OF the same may mortgage and
pledge the franchises, properties, real aEd
personal, movable and immovahlc the rents,
tolls and revenues of the corporation and also
its capital stock, or any portion thereof.
SEC. 10. BE 1t further endcted etc, That no
stakeholder under the provisions of this act, t
shall evcrbe Liable or held responsible for the /
contracts or faults of this corporation, its /
agents and employees in any further sum
than the amount of heunpad balance due by /
him to the corporation ON shares owned by T
him, orohed to any liability beyond the (
amount of his said stock
SEC. II. Be 1t further enacted, etc, That all I
laws or parts of laws in conflict with the fore
going provisions are hereby repealed, so far
as they conflict with this act, and that this
act shall take effect from and after its
passage.
(Signedl LOUIS BUSH,
Speaker of the House of Representatives.
(SigneN LOUIS A. WILTZ,