New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-01

road or roads shall be deemed real estate and: 70
gether with other real and personal property Of
said body corporate shall be liable to taxation ;s
other real estate and personal properly ahu ~ and
cense for their vehicles cars N the CITY anu
county aforesaid except as hereinafter proyidea
SEC 4. And be it further enacted That the said
railway shall be laid as near the centre o. a,e
ticable without interfering win OF Passin;' 80
the water gas pipes), in the most approved inIn
ner adapted to street railways with the rails OF t.e
most approved pattern, to be determined by the
Secretary of the Interior laid upon an even surface
with the pavement of the streets or avenues; anu
the space between the two tracks tWnere
two are laid) shall not be less tnan
four feet nor more than six feet and the
the guage to correspond with that 81 the MetIol'o
uan railroad That the railways Ill the county
tshould it be determined to construct sGn foaus
shall be laid in such manner as VIII east llleIero
with the ordinary travel of the road OF ROADS on
which the tracks shall be laid :,
SEC. 5. And be it further enacted, That me sara
corporation hereby created shall be bound 70 Keep
said tracks and for space of two feet beyond the
outer rail thereof and also the space between the
tracks so far the are laid within the limits
of the city of Washington, at al times well paved
and in good order, without expense to the ,n l
be extended beyond the limits of said city, as!
heretofore provided the said corporation shall be
bound to keep said tracks and Tor the sace % @
space between the tracks well Sraveiled or paved
and in good order, not TO impede the general
travel said roads by vehicles or otherwise, Will
out expense to the county Of Washington.
SEC. 6. And be it further enacted, Ihat nothing
in this act shall prevent the government at any
time at its option, from altering the grade, or 9th
rrwise improving all avenues ana streets occupied
by said road. the city of Washington from SO al
tering and improving such streets and avenues ana
the sewerage thereof, may be under their re-
spective authority and control: and IN such event
it shall be the duty of said company TO ehaIge
their said railway as 10 conform 10 Sucn Sfatie
and pavement.
SEC :. And be it further enacted. That this act
NAV at any time be altered amended o. repeated
by the Congress OF the UuIteC States
SIC g. And be it further enacted, That nothing IN
this act shall be construed as to authorize laid
body corporate to issue any note. token or device
scrip other evidence OF debt, to be used as cur
rency.
tai stock Of said company shall not be less than one
hundred thousand collars nor mere than four hun
drcd thousand dollars, and that the stock shall he
divided into shares OF fifty dollars each, and shall
be deemed personal property, transferable III such
manner the bylaws Of said company may di-
rect.
SEC. 10. And be IT further enacted, That the said
con- any shall place rstcass OH said railway
with all the modern improvements. 1Dr TIE con-
venience and comfort OF passengers, aud Shall run
ears thereon during the day, and as late as ten
o'clock at night. and often as every fifteen min
utes, between west Fifteenth street and the east
ern terminus OF north street; and i'll case
the said road shah be extended beyond the
city limits, the entire road such portions as
may be completed, through the day and
night, often the public convenience and the
interests OF the railway company may require;
Provided however, That the carriages or cars
thereon shall make not less than eight tips each
way per day during six days in eacn week.
SEC. H. And be ii further enacted, That the said
company shall provide such passenger rooms ticket
officers ioiiiccs stables and depots at such points
as the business Of the railroad and the convenience
Of the pubic may require. And said company Is
hereby authorized to lay such rails through trans
verse or other streets or roads as may be necessary
for the exclusive purpose of connecting the said
stables and depots with the main tracks; and the
said company is hereby authorized to purchase
lease sucn lands or buildings as may be necessary
for the passenger roOms ticket Offices stables, and
depOts above mentioned.
SEC. II. And be it further enacted, That all
articles of value that may be iuadvcrt-
entity left in any OF the ears or other
vehicles OF said company shall be taken to its pTin-
cpal depot ard entered in a book of record OF I'M
claimed goods. which book shall be open to the in
spection OF the public at ali reasonable hours OF
business.
SEC. 10 And lie it further enacted That within
thirty days after the passage OF this act the corpo-
rators named Ill the first section, majority of
them if any refuse to act then majority Of the
remainder shall cause books OF subscription TO the
capital stock OF said company TO he opened, and
kept open. i'll some convenient ami accessible place
or places i'll the city OF Washington tor period to
be fixed by said corporators, not less than two
days; and said corporators shall give public notice
By advertisement in not less than .po daily papers
published i'll the city OF Washington. OF the time
when and the place wherc said books shall be opened;
and subscribers upon said hooks 10 the capital
stock OF the company shall he held to he stocao.d
ers Provided, That no one individual shall be al
lowed TO subscribe for than two hundred
shares of said stock: Provided further, That every
subscriber shall pay, at the time of subscribing,
twenty-five per ctntum of the amount BY him sub
scl1oe to the treasurer appointed by the corpor-
aors or his subscription shall be MIL and Vol0. Ii.
at the end OF two DAYS a larger amount than the
capital stock Of said company shall have been sub
scTibed the books shall be closed and the said cor
porators named in the first section shall forthwith
proceed to apporton said capital stock amOn,
the subscribers pro rata. and make public pro-
clamation Of the number of shares allotted
to each, which shall be done aud completed
On the day the books closed Pr0vived
further That nothing shall he received in payment
OF the twenty-five per ccntun, at the time of sub
scrbing. except money. And when the books of
subscription of the capital stock OF said company
shall he closed, the cororators named IN the first
section, or majority OF them, and i'll any OF
them refuse or neglect to act. then majority of
the remainder, shall within ten days thereafter,
call the first meeting of the Stockholders Of said
company, to meet within ten DAYS thereafter, for
tie choice of seven directors OF WHICH public no.
tice shall be given for five DAYS less than two
public newspapers published daily i'll the city of
Washington, or by written or printed personal no.
tice to each stakeholder by the clerk of the cUrlor
atom. Ana III al meetings OF stockholders each
share snail entitle the holder TO one vote, 10 be
given III person or bv proxy.
SEC. H. And ie it further enacted, That the gov
eminent and direction of the affairs of the
pauy shall be vested in a board OF directors, seven
number who shall be stockholders, and who
shall hold their office for year and until others
duly elected and qualified to take their places
directors And the said directors "a majority of
whom, the president being one shall constitute
guoruml shall elect OF their number to he pres
dent Of the board, who shall also be president Of
the company: and they shall also choose treas
urer who shall give bonds, with security to said
company in such sum the said directors may re-
qulre tor the faithful discharge OF his trust. In
ease Of Il vacancy in the board of directors by the
DEATH resignation, or otherwise Of any director the
vacancy occasoned thereby shall be filled by the
SEC. Is And be it further enacted That the di.
rectors shall have full power to make and prescribe
such bylaws, rules and regulations they shall
deem Eeedfu and proper respecting the disposition
and management OF the stock, property, estate,
and effects OF the company not contrary to the
charter or 10 the laws of the United States and the
ordinances OF the city and county Of Washington:
Provided, That the directors of said corporation
snail nave power to require the subscribers TO the
capital stock to pay the amount by them respec-
lively subscribed at such time after the first 10
stalinent), IN such manner, and in such amounts
as they may deem proper; and if any stakeholder
shall refuse or neglect to pay any instruments as
required by resolution of the board of directors
after reasonable notice of the same the said board
of directors may sell at public auction, to the
highest bidder. so many shares of his said stock as
shall pay said instaments land the highest bidder
chase the least number Of shares for the assess
ment duel under such general regulations may
DE adopted Ill the bylaws OF said corporation;
said body corporate may sue and collect the same
from any delinquent subscriber i'll any court of
competent jurisdiction.
SEC. Ii. And be it f,lrtner enacted, That there
shall be an annual meeting of the stockholders for
choice of directors, to be holden at such time and
place, undAr such conditions I upon such notice |
as the said company III their bylaws prescribe;
and said directors shall annually make report in
writing of their doings Congress to the Secre-
taryot the Interior, and to the stockholders in gen.
eral meeting
SEC. IL. And be it further enacted, That the
mayor and council of said city, and the levy court
of said county and the several officers of these cor
pOrations, and the said corporations, are hereby |
prohibited from doing any act thing to hinder, |
delay obstruct the construction or operations of
said railway. as herein authorized.
SEC 10. and be 1t further enacted That the said |
company shall have, at all times the free and min
terrupted use of the roadway. And if any person |
" persons shall wIlfiy and unnecessarily olstruct
'r impede the passage of, or destroy injure the
'ars, depot stations. or any other property belong
II" to sad railway company the person or
1efSons so offending shall forfeit and pay for each
ch ottense the sum of ten dollars 10 said company.