The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-04-01
OFFICIAL.
LAWS or THE STATE OF LOUISIANA.
PUBLISHED BY AUTHORITY.
EXTRA SESSION, 1873.

No. H. AN ALL
TO incorporate the Louisiana Western Rail-
road Company.
SECTION /. Be IL enacted by the Senate and
House of Representatives of the State Of Lou
1siand IN General Assembly convened, That
James A. Raynor, Charles A. Whitney, John
u. Howell, Benjamin Stephenson and j. a.
Ballintine, and such other persons as may
hereafter be associated with them, and their
successors, are hereby constituted q BODY cor
porate, under the name OF the Louisiana
Western Railroad Company" and by that
name shall have perpetual succession, may
sue and be sued, may hold real and personal
property, may make contracts, may receive,
grants Of land or personal property, and shall
possess oil the powers and privileges pertain,
ang to corporate bodies, and such powers and
q privileges as are in this act conferred upon
said company, and shall possess the right TO
exercise and enjoy oil powers and privileges
which corporations are, or may be, Dy any
general law of this State authorized to pos
snss, and said company shall possess the
power to exercise its corporate powers, With
In the State of Louisiana, and also within any
other State OF the United States that shall
authorize the exercise OF said corporate pow
ers within its limits.
SEC. O.. Be IL further enacted, ETC., That the
business and corporate powers OF said COM
pany shall be conducted and exercised by
boafd OF not less than five directors, and such
officers and agents. as such board, shall APP
point, or authorize to be appointed. and en-
power or authorize to be empowered TO con-
duct any part Of said business or exercise
any OF said powers, In accordance with its by.
laws. The officers, agents and servants OF
Che said company within the State of Louis
lana shall be exempt from jury duty, and
from military duty, except in case OF inva-
sion or insurrecton. No person shall be a
director who Is not the actual owner OF at
least one hundred shares of the capital stock
OF said company. The directors may
be elected annually by the stockholders,
Iae ss as shall By designated d BY the bylaws
Of the company, and the directors shall con-
tinue In Office until others are elected or APP
pointed TO I'LL their places, and shall have
power to fill vacancies In their number caused
BY death, resignation or otherwise The per-
& sons herein named as corporators shall be
The directors for the first year, and until
others are elected or appointed to fill their
places The directors shall elect one of their
number president Of said company and shall
have power to make and prescribe such by
Laws, rules and regulations, and from time
to time alter, amend or revoke the same,
81 said company, the transfer of its stock,
the election Of It's officers, the management
and disposition of It's business property
and effects; the powers and conduct
other matters which shall in any way per-
tain to the concern of said company. All
elections for directors shall be by ballot, and
every stakeholder shall be entitled to one
stock held and owned BY him. a majority Of
the directors shall constitute n quorum Tor
the transaction of business, and the number
of said directors may be increased or dimin-
ished by u majority vote Of the stockholders
In interest at any annual meeting; provided,
the number shall not be less than five nor
more than seventeen, and any meetings of
stockholders or directors OF said company
may be held and the business Of such meet
ings transacted within or without this State,
as said stockholders or directors may from
time to time elect TO call such meetings.
Sec. 8. BE 1t further enacted, etc, That the
directors Oh said company, at their first meet
Ing shall determine the amount of capital
stock OF said company, which stock shall be
deemed to be personal property, and be trans
terable as such, and shall be In shares of one
hundred dollars each, and the directors shall
provide for. receiving subscriptions to the
amount of the capital stock. as fixed and de-
termined by them. and shall prescribe the
time and manner of payment therefor; and
thereafter the amount OF the capital stock
ity e in interest q the V0 stocf K So
ting In person or by proxy. at meeting. duly
said company shall be individually liable for
any debt or liability of said company; but
each stakeholder shall be liable to
the company for. the payment of the
shares Of stock subscribed for by him in
scription therefor, and not otherwise. The
directors of said company shall have power to |
require the stockholders to pay their sub |
scriptions in accordance with the terms there
of, and on such notice as said directors shall |
prescribe, under penalty Of forfeiture to said
company in case OF default of the shares upon
which such payment shall be. required,
and all previous payments thereon, or
recover the amount OF such calls in its discre- |
tion; and the directors OF said company shall
have power to receive in payment for sub !
scriptions to the capital stock of said COM
no, n ny yyhiah Sai1 ic hxy
the provisions of this act authorized to own
1r0uided, that the terms and conditions upon
which such property is to be received shall
first be approved by a majority in interest of
the stockholders OF said company; pr0uided
hotceper, that the corporators named in this
net shall have power, at their first meeting,
10 receive any such property in payment for
the stock OF said company, and to issue such
stock, upon such terms and conditions, as
they may deem expedient and for the inter-
est of said company.
SEC 4. Be 1t further enacted, etc, That the
said company is empowered and authorized
thereafter to own, maintain, manage and use,
by running thereon it's engines and cars, a
railroad with one or more tracks and suitable
talrnouts OF such gauge and construction, and
by a majority of the directors of the said
company most proper, expedient or neces-
Sary, and most for the interest of the said
company and best adapted for the public ac-
yermillionville, in the parish of Lafayette,
and any point in the parish of Calcasieu,
upon the line between the State of Louisiana
and the State Of Texas
Second the purpose of connecting it's
said main line of railroad hereinbefore desg-
mated, with other railroads within this State,
or with any mines or manufactures within
this State, or for the purpose of giving to any
parish adjacent to said line of road increased
facilities for the transportation of products,
the said company is empowered and author
azed to locate. construct and build, and there
after to own, maintain, manage and use by
running thereon its engines and cars, such
branch railroads and tracks as majority of
the directors of the said company may from
time to time deem to be proper and expedient
and for the interest of the said company to
own and use.