New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-07-06

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-lpfo tempofe; nd msjority of said d
rececrs shall conssitutp . quorum tor tn
~transaction Of busineea {
Sec. 4. And be it further enacted, Tha
said directors may fill any vacancy wbicl
may happen in their own body during IT,
time for which they are elected. and j.
RcLtion Of the president OF treasurer, X
9 allths vacancy, 70 ssfve for the residue o
{ the term and the STOCKHOLDERS, on tn
8 first M61day Of January 10 each and ever,
: year thereafter, shall elect by ballot, q
, the Office of the said company, a new board
of thirteen directors from among the stock
holders, from whom q president and treas
, urer shall be appointed as above men
toned, to hold their Offices for one veal
from the time OF their election, and unit
their successors are elected and qualified
Each stakeholder shall be entitled to one
vote for every share of stock held by him
or her at the time, which may be given BY
the s~tockholder, or by proxy, at any gen.
} eral or special election, Of which general
or special election notice shall be given by
advertisements in one or more of the daily
newspapers in said, city ten days previous
thereto.
Sec. 5. And be it further enacted, That
the plans submitted blythe incorporators,
as set forth in the schedule annexed to
this act. and which schedule is made part
OF this act, and as set forth in the draw
iogs referred 10 in said schedule, shall be
adopted for such new buildings and mar
ket square. There shall be one or more
entrances to said market grounds between
Seventh and Ninth streets, on Pennsylva-
mia avenue OF Louisiana avenue, of suita-
BILE width aud height, for the accommoda-
ton of pedestrians. i
SEC. 6. Aud be it further enacted, That
the treasurer of said company shall, be-
fore he acts % such, give q bond to the
company, in such penalty and with such
security as the president and directors
shall require, conditional for the faithful
discharge Of the duties and trusts COM
mitted to him. Ali salaries shall be fixed
by the president and directors.
SEC. z. And be it further enacted, That
the shares 10 said company shall be
deemed personal and not real estate, and
shall be transferable in such manner as
the bylaws OF tee company shall pre-
scribe; and the shares held by any indi-
vidual shall be liable to be attached or
taken In execution to satisfy the debts due
from any such stakeholder in like manner
as other personal property may be.
Bee. g.. And be 1t further enacted. That
the said president and direc[tlors of said
company shall have power to demand and
receive of the stockholders the remaining |
nine-tenths of said stock from time TO
time as they shall deem necessary: Pro-
vided, That suca calls shall not exceed |
the rate of fifteen per centum thereof per
month; aud If any stakeholder shall neg.
lect or refuse to pay the amount due and
demanded. within thirty days after said
demand, the said shares may be forfeited,
or not, by said directors at tneir option.
E 9. And be it further enacted, That
the said president and directors shall have
power to contract with any person or per-
sons for the necessary work on the grounds,
and for the construction of buildings,
stands, stalls, and all necessary fixtures;
to appoint a general superintendent and
other laborers, and to afix the amount of
compensation for labor, as well as for all
furnished said company, and to
do oil acts which by t1is act and the BY
laws Of said company they may be author
lied to do.
SEC. 10. And be it further enacted. That
The said company is hereby required to
and pay for all buildings and
hxtures which may be upon the above
mentioned ground belonging to individu-
ais, within a reasonable time after the
of this act, the price of which
be agreed upon by the president and
Of said company and the I
SHOULD they demand any {
Jay therefor) of the aforesaid buildings q
md fixtures and whenever the president
md directors and the owners of said pro- Y
'erty can not agree as to the price of said
buildings or fixtures, then in such case the a
company sha select one competent per- g
on, n the owner shall select one COM q
'etent person, and they. the two, shall il
hoose a third one, who shall proceed to 81
alue the buildings and fixtures, and q de-
of a majority of the three shall be
as to the value of said properly, and I
he amount 80 agreed upon shall be paid o
, the owner thereof before the same is re- o
'oved from the grounds Aforesaid. That d
! case the owner OF said property will 9,
etther sell said property nor choose an ar al
ltrator. as aforesaid. to value said pro- n
erty, after ten days notice so to do, then, G,
such case, the said company may pro- %
10 remove the same to some place off T
Iid grounds without being liable to an ei
'tion for damages. Il
SEC. IL. And be it further enacted. That Il
v said company shall, within sixty days lie
pm the time 1t gets quiet and peaceable
,sses sion of the real. estate men pj
Dned 10 this act, commence work thereon, &C
30 prosecute the same, that buildings &C
r stores. halls, market grounds, stands, Ia
Ais. and other purposes, and all market OF
shall Be fully completed within b,
20 years oraess1rumEheeommencement IN,
ereof ; or il case saidscompany shall not &C
'mmence Said Buildings within the time f,
OF, having comdeuced, shall fail AZ
complete the same within the time afore- in
i'd, or .having completed the same. M
lall permit the ame to get out of repair A,
become dilapidated, and should the said n,
'mpany fail to comply with any of the M
of this act for the space of sig of
months, the franchise hereby at,
'anted to said company shall be forfeited mr.
M tne rights aud privileges hereby la,
ranted shall revert to the United States. on
Sec. IL. And be il further enactad 81,
bat the privileges conferred bv 70
lis act shall be enjoyed by said company ~
the term of ninety-nine years. unless w;
'oner terminated for q non-comnlianca ~ W.
of the conditions herein mnosed ~
pom said company, which may be done tn,
: SUIT IN the name OF the United States. tul
recover possession OF said property. Gle
I Inc end OF said period of ninety-nine
lars, the said lands, with all the erec- fro
DDS and improvements thereon, SHAH thu
vert to the United States, unless Con- Nj,
'ess shall by law extend the period of for
cupat,on thereof by said company: Pro. "a,
ded, That If the corporation OF the city nm
washington shall, after a period Of or