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stock, etc That the purchasers of said railroad, its property, franchises, etc., as aforesaid, may fix the amount of capital stock representing the property bought, divide the same into shares of one hundred dollars each, and the holders of such stock may meet together, adopt a name for the company, and organize by the election of a board of directors of such number as they may see fit, not less than sixone of them shall reside in this State each share of said stock being entitled to one vote. And said board of directors may elect a president and such other offlcers as they may deem expedient for the proper management of said property, fix their duties, terms of office and compensation, and adopt bylaws not inconsistent with the laws of this State.Steps for organizationRights conferred, etc That upon an organization being effected, as aforesaid, by the election of a board of directors and upon said board of directors filing with the secretary of State of this State a statement, signed by said directors, showing the name of said corporation, amount of capital stock, shares into which the same is divided, number and residence of board of directors, where the road is situated and the name or names by which It was chartered and has heretofore been known, the secretary of State shall certify the fact of such filing, and the said company, upon so filing said statement of its board of directors aforesaid, shall be a body corporate, under the name chosen as aforesaid, with all the rights, powers, privileges, Immunities and franchises granted to the company or companies whose road and franchises were sold and bought as aforesaid, and which had been granted to said company or companies, by the act of its incorporation, or acts amendatory thereof, in as full and perfect a manner as if the new company, chartered under the provisions of this act, was granted a charter of incorporation in the very words of this act or acts of incorporation under which the company whose road was sold existed, and such company, so formed under this act, may borrow money for the purposes of its incorporation, issue its bonds and execute a mortgage or mortgages on all orany of its rights, franchises, privileges, immunities or property to secure the same.Domicile of corporationService of Process That the principal office of said company, formed under this Act, and branch offices, may be established at such place or places in or out of this State, as the board of directors may determine, for the convenient transaction of business and meetings there held, and resolutions adopted shall be lawful and binding; provided, that an office be maintained and preserved in the State of Louisiana, where citations may be served, and that said company be always represented at said office by an officer, agent or employe, upon whom service of citation can be made in accordance with the laws of this State.Rights of mortgagees, etc., preserved.j? . That nothing in this Act contained shall be so construed as to interfere in any manner with the valid prior mortgage liens, if any, upon the property, rights, franchises or privileges of the road so sold as aforesaid.VENDOR'S LIEN ON EQUIPMENT, ETC.R. S ACT No. Ill OF , pParties may agree that possession shall not vest title in vendor That in any contract for the sale of railroad or street railway equipment, or rolling stock, it shall be lawful to agree that the title to the property sold or contracMichael Kors Outlet ted to be sold, although possession thereof may be delivered immediately or at any time subsequently, shall not vest in the purchaser until the price be fully paid, or that the seller shall have and retain against any and all persons a Hen and privilege thereon for the unpaid purchase money. And in any contract for the leasing or hiring cf such property, it shall be lawful to stipulate for a condition il sale thereof after termination of such contract; and that the rentals, or amount to be received under such contracts, may, as paid, be applied and treated as purchase money, and that the title to the