New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-08-21
No. %.
AN ACT


Red river to and across Red Chute to the
hills, in BOssier parish, and to. collect tolls
thereon, and for other purposes.
| SECTION /. Be it enacted by the Senate
/ and House Of Representatives OF the State
! Of Louisiana in General Assembly con
! vened, That Frank NJ. Smith, A. II. Leon
ard, Z. p. O'Key, Charles w. Heating, 5.
! Peters. George w. billiard, NJ. II. CrOweH,
! NJ. A. Walsh. d. D. Smith, S. NJ. Thomas,
| and their successors and assigns, and such
| other persons as they may hereafter assO-
| ciate with Themselves, be and are hereby
! constituted a body corporate and polite, to
| act Ill their corporate capacity as one per
! son, and are hereby authorized, in their cor
| pOrate capacity, to DO and perform all acts.
| an individual can do, to purchase, lease,
| sell or exchange real or personal property,
rights or credits, as an individual can do,
| and to sue and be sued, and 20 do all things
| an incorporation can do; that service of
| citation or other legal process shall be
made on the president of the company. or,
! in the absence Of the president, on the see
rotary thereof; that the dOmicile of this
| company is fixed in the city of Shreveport,
| in the parish of CaddO, in the State Of
Louisiana. This company shall have seal,
and may change or alter the same at pleas
| ure
SEC. 2. Be it further enacted, etc, That
| the name and style of this corporation
| shall be '"The Shreveport Bridge Com
pany," and the capital stock Of this com
pany shall be five hundred thousand dol
lars, to be divided into shares Of one hun
dred dollars each, making five thousand
shares 1t shall be competent for the
stockholders of this company to fix the
amount of the capital stock from time to
time, as in their judgment they may deem
best, not to exceed one million dollars.
SEC 3. Be it further enacted, etc, That
this company shall have the exclusive
right to build, equip and maintain bridge
across the Red river, to terminate on the
east bank of Red river, opposite the city of
Shreveport, tor the purpose of passing
vehicles Of all kinds, animals, produce OF
all kinds. merchandise and foot passengers.
and for all purposes a bridge may be used
for; and no other bridge shall be built
across said river within a distance Of five
miles in either direction for the period of
thirty years, TeserviHg the right to any
railroad company to build bridges within
said limits solely for railroad purposes, but
in no way to be used for any of the purposes
above stipulated, except as belonging to
the actual business and operating OF the
railroad; and that. same company shall
have the right to charge such tolls thereon
as may be fixed by the board Of directors
of said company, and shall have the right
to police sUch bridge, so that no one or
thing shall be allowed to pass over the
same except in accordance to the rcgula-
tons made by the directors.
SEC. 4. BE it further enacted, etc, That
the affairs of the company shall be con
Quoted by a board of directors, the first
board of directors to consist Of the incOr-
porators named in the first section of this
act in the event Of the death Of any such
incOrpOratOrs the balance shall compose
the board of directors until the end Of the
term; and in tho event of any of such III
cOrpOrators transferring their entire inter
est in this company during their term Of
service they shall cease to act as directors
during the rcsidues of, the term, and their
place shall be filled by the selection Of
some other stockholders by the other di-
rectOrs. This board Of directors shall hold
office for two years from the first Monday
of July, 1872 Thereafter the board of di-
rCctOrs of this company shall consist Of
five stockholders who hold at least twenty
shares of stock, to be elected by the stock
holders on the first Monday of July, 1874,
and every two years thereafter; that no
stOckhOlder shall vote at any such election
unless the stock on which he claims to vote
has been owned by him at least three
months before the election, as shown by the
stock book of the company; that each
stakeholder shall have one vote TOR each
share of stock he may own; that any
stakeholder NAV vote by proxy for
shall elect; that it shall be the duty Of the
directors to advertise the election fer direc-
tors in at least one newspaper in the parish
Of the dOmicile of said company, for thirty
days before the election, and to appoint
three stockholders commissioners to hold
the election; a failure to hold the election.
as herein fixed, shall not operate a dissOu-
ton Of this corporation, but the old board
of directors shall hold over until the next
regular election. A majority OF the board
directors shall constitute a quorum for all
business. Any vacancy occurring in the
board of directors Except in the first
board) shall be filed by the remaining
directors for that term; any director. after
his election, dispOsing of his stock so as to
hold less than twenty shares. shall from
that time cease to be a director and his
place shall be filled as above.
SEC, >. Be it further enacted, etc, That
the first board of directors Of said com.
pdny shall organize on or before the first
Monday of July. 1872, and all subsequent
boards, within ten days after their election,
by electing one of their members president
and electing a secretary. When it becomes
necessary the board Of directors may elect
a treasurer and engineer, or any other Off
GERS they may designate All such officers
shall be removable by the board Of direc
tors, except the president. Tie board Of
directors shall have the right to fix the
salary OF the president, and the salary or
compensation of the other officers, and 10
require a bond, with good security. subject
TO the approval of the board, from the
treasurer, and fix the amount thereof, ami
to pass all bylaws deemed necessary, not /
inconsistent with this act or contrary to
law.
SEC. s. BE it further enacted. Ctc., That
stock certificates shall be provided, and
when issued, shall be signed by the presi- |
dent of the board of directors and counter
signed by the secretary and sealed with the |
seal Of the company; and a transfer book |
shall be kept. and no transfer of stock shall |
be legal or binding on the company until |
the transfer issmade on the books OF the /
and such transfer shall be legal |
evidence of the ownership of tie stock. so /
far as the company is concerned, in any
court in this State; that a copy, certified to
by the secretary Of this company, under the |
seal Of this company, Of any resolution of
the stockholders or directors. shall be evi-
dence of stock or of any written proceeding
kept by this company, and shall be taken
as evidence in any court in this State.
SEC. !. BE it further enacted etc, That
the board of directors of this company shall
have the right to issue the bonds of this
company for any amount not to exceed the
whole amount of the capital stock as fixed
10y this charter, and shall fix the aggregate
amount of the bonds to be issued, the
amount and denomination of each bond, the
time of maturity thereof, the rate Of inter
est they are to bear, whether coupon bonds
or net. and every other requisite to cou,ri-
tute them legal and certain: and in orde.
to secure the payment Of such bonds, with
the interest thereon, said directors shall
have the right to mortgage all the property.
both real and personal, including thnt