New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-08-31

/ 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 tive
| miles in either direction for the period of
| thirty years, reserving 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 Tegula-
| tons made by the directors.
! SEC /. 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
incorpOraturs the balance shall compose
the board Of directors until the end of the
term: and III the event of any Of such in
C0rpOratOTs 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-
rectOT-. This board of directors shall hold
office for two years from the first Monday
of July, 1872 Thereafter the board OF di-
,,ft 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
stakeholder may vote by proxy for
directors, and that a majority of votes cast
shall elect; that it shall be the duty of the
directors to advertise the election for drec-
tors in ut 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; failure to hold the election,
as herein fixed, shall not operate a dissOlu-
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 filled by the remaining
directors for that tarm; any director, after
his election. dispOsing of his stock so as 10
hold less than twenty shares shall from
that time cease to be a director, and his
place shall be filled as above.
SEC. 5. Be it further enacted, etc, That
the first board of directors of said com
pany shall organize ON or before the first
Monday Of July, 1872, and all subsequent
boards within ten days after their election.
by cIecting one Of their members president,
and ciecting 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. The board Of
directors shall have the right to fix the
salary OF the president. and the salary or
compensation Of the other officers, and to
require bond, with good security, subject
to the approval of the board, from the
treasurer, and fix the amount thereof and
to pass all bylaws deemed necessary, not
inconsistent with this act or contrary to
law.
SEC. 6. BE it further enacted, etc, That
stock certificates shall be provided, and
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
bc legal or binding on the company until
the transfer is made on the books of the
company. and such transfer shall be legal
evidence Of the ownership Of the 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 evil
dence OF stock or of any written proceeding
kept by this company, aud shall be taken
as evidence in any court in this State.
SEC 1. BE 1t further enacted, etc, That
the board Of directors of this company shall
have the right to issue the bonds Of this
company Tor any amount not to exceed the
whole amount of the capital stock, az fixed
by 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 not. and every other requisite to COnsti-
tUtc them legal and certain; and in order
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 the
bridge, which mortgage shall be recorded
-
for CaddO parish, and shall not be required
to be transcribed to keep it in force and ef-
feet; and said board of directors shall have
the night to receive any donation or gratu-
Ity that may be given TO said company, or
any other and thereto on any such terms as
may tic agreed on between them and other
parties.
SEC. s. BE il further enacted. etc. That
10 the same company are hereby granted
the exclusive right and privilege to build
construct, establish and maintain a plank
she'll or railroad from the terminus of said
bridge on the eastern bank Of Red river 70
and across the Red Chute in Bossipr parish
and to the hills or high lands by such route
as S4aH De deemed most advantageous By
the directors Of said company, and that the
same company shall be allowed and are
hereby empowered to charge and collect
tor passing over said road tells at such
rates as the directors shall prescribe: and
the same right and privileges granted by
tins section shall be for the same term OF
years as has alrcau, been granted in this
act, 10 wit. the term Of thirty YEAR.
HL' y lie 1t further enacted. etc, That
the property Of the said bridge and road
company shall be exempt from STATE and
municipal taxation for the full period of itz
charter, and IN consideration therefor the
7~u company agrees to pay into the treas
uiy OF ina CharIty Hospital at Shreveport
me 10, sum OF one hundred dOiiaGs, to be paid
Wis"'h Hlteen Gays from January in each
year, for each and every wear during its
term of Interpretations
SEC. 3D. BE 1t further enacted. etc Thar
inns company shall have the riaht br tia
agents, surveyors engineers aud emDI0ycs
10 enter upon all lands and tenement.
through winch 1t may conclude 10 make