| From the New Orleans Times Picayune |
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| January 14, 1862 |
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| The State's Interest in the New Orleans,
Jackson & Great Northern Railroad |
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| An important Bill |
| Mr. Carroll, of the New
Orleans delegation, introduced the following in the House of
Representatives, on the 9th inst. As this measure proposes a change of
great interest to most of our readers, we also append the act approved
March 18th, 1858: |
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| An Act to amend the charter of the New
Orleans, Jackson & Great Northern Railroad Company |
| Whereas the State of Louisiana
by the 2d section of an act, entitled "an act to authorize the
Governors of the States of Louisiana and Mississippi to vote at all
meetings of the stockholders of the New Orleans, Jackson & Great
Northern Railroad Company, upon the shares of stock in said company,
held by said States," approved March 18th, 1858, enacted, That
whatever the State of Mississippi shall provide by law, for the
appointment of three directors, in said company, which said State is
hereby authorized to do, the right of said State to vote for
directors, shall cease, and upon the passage of any such laws by the
said State, the right of the State of Louisiana to vote upon her stock
shall also cease, and then it shall become the duty of the Governor of
this State to appoint three directors in said company, as now provided
by law. And, whereas, the State of Mississippi, in accordance with the
foregoing act of the Legislature of Louisiana, have passed an act
entitled "an act to amend the charter of the new Orleans, Jackson
& Great Northern Railroad Company;" approved, December 28th,
1861, has signified its desire to place the State of Mississippi and
the State of Louisiana on the same footing as stockholders in said
company, so far as to take away from said States the rights of said
States to vote for directors: Therefore, |
| SECTION 1. Be it enacted by
the Senate and House of Representatives of the State of Louisiana, in
General Assembly convened, That the State of Louisiana and the
State of Mississippi, shall not be permitted hereafter to vote for
Directors of the New Orleans, Jackson & Great Northern Railroad
Company, and that the said States, by the Governors thereof, shall
each annually appoint three directors of said company, who shall have
all the rights, privileges, powers and obligations of the other
directors of said company and shall represent the stock of said States
in said company. |
| SEC. 2. Be it further
enacted, &c., That the city of New Orleans shall not hereafter
be allowed to vote for directors of said company, but shall instead
thereof be permitted to appoint three directors annually, who shall
have all the rights, privileges, powers and obligations of the other
directors of said company, and shall be elected by the Common Council
of said city. |
| SEC. 3. Be it further
enacted, &c., That the amendments of the charter of said
company, herein proposed, shall be submitted to the stockholders of
said company according to the provisions of the charter thereof, at a
meeting to be held on the third Monday in April, 1862, at which
meeting the Mayor of the city of New Orleans shall cast the vote of
said city, and should the majority of the stockholders, as required by
the charter of said company, accept the amendments herein proposed, a
certified copy of the result of said meeting shall be transmitted to
the Governor of the State of Mississippi and the Governor of the State
of Louisiana and the Mayor of the city of New Orleans, to be by him
transmitted to the Common Council of said city; a like copy also to be
forwarded to the Secretary of State of this State, to be filed among
the archives of his office. |
| SEC. 4. Be it further
enacted, &c., That this act shall take effect from and
after its passage. |
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| An act to authorize the Governors of the
States of Louisiana and Mississippi to vote at all meetings of
stockholders of the New Orleans, Jackson & Great Northern Railroad
Company, upon the shares of stock in said company held by said States. |
| SEC. 1. Be it enacted by
the Senate and House of Representatives of the State of Louisiana in
General Assembly convened. That at all meetings of stockholders,
and at all elections for directors of the New Orleans, Jackson &
Great Northern Railroad Company, the State of Louisiana and the State
of Mississippi shall have the right to vote upon the number of shares
of stock in said company respectively held by each, on the same terms
and conditions as are prescribed by law for individual stockholders,
and the Governor of the State of Louisiana and the Governor of the
State of Mississippi shall cast the votes of their respective States,
in person or by proxy, as in other cases. |
| SEC. 2. Be it further
enacted, &c., That whenever the State of Mississippi shall
provide by law for the appointment of three directors in said company,
which said State is hereby authorized to do, the right of said State
to vote for directors shall cease, and upon the passage of any such
law by said State, the right of the State of Louisiana to vote upon
her stock shall also cease, and then it shall become the duty of the
Governor of this State to appoint three directors in said company, as
now provided by law. |
| SEC. 3. Be it further
enacted, &c., That this act shall be submitted to the
stockholders of said company, on the tenth of April, eighteen hundred
and fifty-eight. (1858) Public notice of the same shall be given by
advertisement in the official journal of the State, in one or more of
the newspapers published in Jackson, Mississippi, and in not less than
two newspapers of the city of New Orleans; if at said time
stockholders representing three fourths of the amount of stock
subscribed to said company shall accept this act, the same shall be
valid and binding upon said company as part of the charter of said
company. At the election to be held for the acceptance or rejection of
this act, the Governor of this State shall, in person or by proxy,
cast the vote of this State, or the Mayor of the city of New Orleans,
in person or by proxy, shall cast the vote of said city. |
| SEC. 4. Be if further
enacted, &c., That this act shall take effect from and after
its passage. |
| Wm. W. Pugh |
| Speaker of the House of Representatives |
| C. H. Mouton |
| Lieut. Governor and President of the Senate |
| Approved March 13, 1858 |
| Robert C. Wickliffe |
| Governor of the State of Louisiana |
| A true copy |
| Andrew S. Herron, Sec'y of State |
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