New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-09-05

amount of the capital stock from time {.
time, as in their judgment they NAV deem
best, not to exceed one million dollars.
Sac. 3. Be it further enacted. etc. Tia.
this company shall have the exclusive
right to build, equip and maintain bridge
across the Red river, to terminate on tie
east bank of Red river, opposite the city OF
Shreveport, tor the purpose of passing
vehicles OF all kinds, animals, produce eI
all kinds. merchandise and foot passengers
and for all purposes 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, reserving the right 10 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 10
the actual business and operating of the
railroad; and that same company shall
have the right to charge such tolls thereon
| as may be liked 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 regula-
| tions made by the directors.
| SEC. 4. BE it further enacted. etc, That
the affairs OF the company shall be CON
Quoted by board OF directors, the first
board of directors to consist of the inc0T-
|
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 the event of any of such in
cOrporat0Ts transferring their entire inter
est in this company during their term of
service they shall cease to act as directors
during the residues OF the term, and their
place shall be filled by the selection OF
some other stockholders by the other d.
rectors. This board of directors shall hold
office for two years from the first Monday
OF July, 1872. Thereafter the board of d.
rectors 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
stakeholder 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 for each
share OF stock he. may own; that any
stoekhoIder may vote by proxy for
directors, and that majority of votes cast
shall elect; that it. shall be the duty of the
directors to advertise the election for 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
as herein fixed, shall not operate dissolu-
ton Of this corporation, but the old board
of directors shall hold over until the next
regular election majority of the board
directors shall constitute a quorum for all
business. Amy vacancy occurring in the
board OF directors Except in the first
board) shall be- filled by the remaining
directors for that tarm; any director, after
his election, dispOsing of his stock so as to
hold less than twenty shares, shall from
that time cease to be q director, and his
place shall be filed as above.
SEC. ;. Be it further enacted, etc, That
the first board of directors of said com
Dany shall organize on or before the first
Monday Of July, 1872, and all subsequent
boards, within ten days after their election,
0y electing one of their members president,
and electing a secretary. When it becomes
the board of directors may elect
! treasurer and engineer, or any other Off
,ers they may designate All such officers
shall be removable by the board of direc-
ors, except the president. The board OF
llrectors shall. have the right to fix the
alary of the president and the salary or
of the other officers, and to
equlre bond, with good security, subject
o the approval of the board, from the
treasurer, and fix the amount thereof, and
% pass all bylaws deemed necessary. not
Inconsistent with this act or contrary to
aw.
SEC. 6. Be it further enacted, etc, That
took certificates shall be provided, and
when issued, shall be signed by the presi-
lent of the board of directors and counter
lgned by the secretary and sealed with the
cal OF the company; and transfer book
hall be kept, and no transfer of stock shall
,e legal or binding on the company until
he transfer is made on the books of the
Ompany, and such transfer shall be legal
violence OF the ownership of the stock, so
ar as the company is concerned, in any
curt in this State; that a copy, certified to
y the secretary OF this company, under the
cal OF this company, of any resolution of
he stockholders or directors, shall be evil
ence OF stock or OF any written proceeding
ept by this company, and shall be taken
S evidence in any court in this State
SEC. I. Be It further enacted, etc, That
he board OF directors of this company shall
ave the right to issue the bonds Of this
ompany for any amount not to exceed tie
mole amount of the capital stock, as fixed
y this charter, and shall fix the aggregate
mount Of. the bonds to be issued, the
mount and denomination of each bond, the
me- OF maturity thereof, the rate of inter
st they are to bear, whether coupon bonds
not, and every other requisite to cOnsti-
lite them legal and certain; and in order
secure the payment of such bonds, with
ie interest thereon, said directors shall
ave the right to mortgage all the property.
9TH real and personal including the
1dge, which mortgage shall be recorded
the ONCE OF the recorder OF mortgages
r Caddo parish, and shall not be REQUIRED
be transcribed to keep it in force and eff
ct; and said board of directors shall have
e rlght.to receive any donation or gratu-
7 that may be given to said company. or
~ other aid thereto on any such terms as
ay. be. agreed on between them and other
rites
SEC. s. Be it further enacted, etc. That
the same company are hereby granted
e exclusive right and privilege to build,
instruct establish and maintain a plank.
ell or railroad from the terminus of said
ldge on the eastern bank of Red river to
q across the Red Chute in Bossier parish.
d to the bills or high lands by such route
snail be deemed most advantageous bv
directors OF said company, and that the
me company shall be allowed and are
reoy empowered to charge and collect.
passing over said road, tolls at such
ties as the directors shall prescribe: and
same right and privileges granted by
IS section shall be for the same term Of
ars as has already been granted in this
:, 10 wit: the term of thirty years.
SEC. y. Be it further enacted, etc, That
property OF the said bridge and road
npany shall be exempt from State and
nicipal taxation for the full period of it's
arter, and IN consideration therefor the
d company agrees to pay into the treas
7 OF thd Charity Hospital at Shreveport
sum of one hundred dollars, to be paid
thin fifteen days from January l in each
ar, for each and every year during it's
m of incorporation
'Ec. TO- Be it further enacted, etc., That
IN