New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-06-17

president Of the board of directors, a
also appoint Q treasurer of said COMPANY
In the absence Of the president, q msioril
OF said directors may appoint pvesidel
pro tempore; and . majority Of sGid d
rectors shall constitute 8 quorum for q
Transaction, of business. % q. - q 1fl1
SEC. 4. And Be it further enacted. TIL,
said directors may fill any vacancy vhic
may happen in their own body during th
time for which they are elected. and i
case OF the death, resignation, or disqui1
nc1ton OF the president or tressuser, (
MI the vacancy, to serve for the residue Z
the term and the stockholders, on th
first Monday Of January in each and ever
year thereafter, shall elect by ballot, 9
the office of the said company d new boar
of thirteen directors from among the stock
holders, from whom president and treas
urer shall be appointed a. above men
toned, to hold their offices for one yea
from the time of their election, and unit
Each stakeholder shall be entitled to ON
vote for every share of stock held BY hin
or her at the time, which may be given b,
the stockholder, or by proxy, at any gen
eral or special election, Of which genera
4 or special election notice shail be gwen BY
advertisements in one or more of the daily
newspapers in said city ten days previous
thereto. sa. NJ
! SEC. 5. And be it further enacted, Tha,
the plans submitted by the 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 to in aaid schedule, shall be
adopted for such new buildings aud mar
ket square. There shall be one Or more
entrances to said market grounds between
Seventh and Ninth streets, on Pennsylva-
MIA avenue or Louisiana avenue, of suita-
BILE width and height, for the accommoda-
ton of pedestrians. r.--., ,,,, ,.-..
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 staithful,
discharge of the duties and trusts com-i
mitted to him. All salaries shall be fixed
by the president and directors.
Sec. z. And be it further enacted, That
the shares in said company shall be
deemed personal and not real estate and
shall be transferable in such manner as
the bylaws OF the 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 stOckholder in like manner
as other personal property may be. : sas
SEC. 8. And be it 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 toll
time as they shall deem necessary: Pro-
vided, That sucn calls shall not exceed
the rate OF fifteen per centum thereof per-
month; and if any stakeholder shall neg.
lect or refuse to pay the amount due and
within thirty days after said
demand, the said shares may be forfeited
Or not, by said directors at their option.
SEC. 8. And be it further enacted, That
The said president and directors shall have
power to contract with any person or peri
IONS Tor the necessary work on the grounds,
md for the construction Of buildings,
stands, stalls, and all necessary fixtures;
o appoint q general superintendent and \
'ther laborers, and to afix the amount of
for labor, as well as for all
materials furnished said company, and toll
10 all acts which by tnis act and the BY
avs OF said company they may be author
zed to do. a,ses =. - : /
SEC. 10. And be it further enacted, That
ne said company is hereby required to
purchase and pay for all buildings and
Nures which may be upon the above.
ientioned ground belonging to individu-
Is, within reasonable time after the
assage OF this act, the price of which \ !,
ball be agreed upon by the president and
irectors of said company and the
wners should they demand anv
~ therefor) of the aforesaid buildings 9
,d fixtures and whenever the president 9
i'd directors and the owners of said pro-
srty can not agree as to the price of said
liidlngs or fixtures, then in such case the
'mpany shall select one competent per-
n, and the owner shall select one COM .
gent person, and they, the two, shall y
Dose third one, who shall proceed to y
lue the buildings and fixtures, and q, de- 81
non OF majority of the three shall be
al as 70 the value Of said property, and
amount SO agreed upon shall bs paid T
the owner thereof before the same = re- o
'ved from the grounds aforesaid, That q
case the owner Of said propertyswill q,
ither sell said property nor choose q a. At
rator, as aforesaid. 10 value said pro- al
Fty,. after ten days notice so to do, Zen, q,
such case, the said Company NAV s.pro- cf
% TO remove the same to some place off .,
d grounds without being liable to an n
ion for damages. 90 .;
SEC. II. And be it further enacted. That 10
said company shall, within ssixty DAYS tb
IN the time it gets quiet and peaceable ;e
SEES lon of the real estate men
ned In this act, commence work thereon. | nj
80 prosecute the same that buildings co
stores, halls, marketgrounds, stands. | co
lis, and other purposes, and all market la
ldings. shall be fully completed within Of
years or less from the commencement ha
reof Or in case said company shall not ne
nmence said buildings within the time %
resaid, or, having commenced. shall fail A.
complete the same within the time afore- an
q, or having completed the same. in,
~ permit the same to get out Of repair no
sPany fail to comply with any of the or
oluons OF this act for the space of six m.
lsecutive months, the franchise hereby Of
nted to said company shall be forfeited. stc
the rights and privileges hereby pu
'nted shall revert to the United States. far
'Ec. II. And be it further enacted an
AZ the privileges conferred by ain
ACT shall be enjoy ed by said company rol
tne Term OF pinety-nine years, unless rof
ner terminated for Noncompliance or wi,
lse OF the conditions herein imposed mn
y, said company, which may be done of
SUI" IN the name OF the United States tbr
recover possession of said properly. tut
The enc, OF said period of ninety-nine clio
rs, the sad lands, with all the cree w