New Orleans Republican., 1872-11-28


boardJ shall be filled by tne remaining
directors for that torm; 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 filed as above.
SEC s. 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 electing one of their members president,
and electing a secretary. When II becomes
necessary the board OF directors may elect
a treasurer and engineer, or any other oth
GERS they may designate All such OtfcerE
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
Jaw.
SEC. 6. Be it further enacted, etc, That
stock certificates shall be provided, and
when issued, shall he 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 transfer book
shall be kept, and no transfer OF stock shall
be 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 ceruhed to
by the secretary of this company, under the
seal Of this company, of any resolution OF
the stockholders or directors, shall be eyi-
Gence of stock or Of any written proceeding
kept by this company, and shall be taken
as evidence in any court in this State.
SEC. 7. BE it further enacted, ETC., That
Che board Of directors Of this company shall
aave the right to issue the bonds of this
company for any amount not to exceed the
whole amount of the capital stock, as 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-
tute them legal and certain: and IN order
TO secure the payment Ot such bonds, with
She 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
an the office of the recorder OF mortgages
for Caddo parish, and shall not be required
to be reinscribed to keep it in force and Ell
feet: and said board Of directors shall have
the right to receive any donation or gratu-
ity that may be given to said company, or
any other aid thereto on any such terms as
may be agreed on between them and other
parties.
SEC. 8. BE it further enacted, etc.. That
90 the same company are hereby granted
the exclusive right and privilege to build,
construct establish and maintain plank,
shell or railroad from the terminus of said
bridge on the eastern bank of Red river to
and across the Red Chute in BOssier parish,
and to the hills or high lands by such route
haH ha
Ghe directors of said company, and that the
same company shall be allowed and are
hereby empowered to charge and collect,
for passing over said road, tolls at such
rates as the directors shall prescribe; and
fhe same right and privileges granted by
this section shall be for the same term OF
years as has already been granted in this
act, 10 wit: the term of thilty years.
SEC. 9. BE it further enacted, etc, Shat
the property of the said bridge and road
company shall be e1 empt from State ana
municipal taxation for the full period of its
.charter, and in consideration therefor the
eaid company agrees to pay into the treas
ury of thd Charity Hospital at Shreveport
Che sum of one hundred dollars, to be paid
within fifteen days from January in each
scar, for each and every year during It's
Germ of incorporation.
SEC. 10. Be it further enacted, etc, That
ehis company shall have the right by its
agents, surveyors, engineers and employees,
20 enter upon all lands and tenements
Through which it may conclude to make
such road, and survey as herelnoet0re pro
Vidcd and lay out and construct the same,
That when such road, way or route shall
fun through any lands belonging to the
State of Louisiana, the said company shall
have the right of way, and the land where
on the said company's road shall be con
.gtructed and for the distance OF eighty rods
on each side of said road, if such lands are
Ha- rfyTO of hn pt
be and are hereby granted to said company
2or their use and benefit to AID IN the con-
ostTuction and maintenance OF said road.
SEC. IL. Be it further enacted, etc, That
any parish city, town or Incorporated VII
Iage in this State, be and is hereby author
lied to aid said company in the construc-
ton Of its bridge and road, or either OF
them, by contributions, or by subscribing
for its stock or by purchasing its bonds, or
6y issuing the bonds warrants of said
0arish, city or town in favor OF SAID com
0any: and that for the purposes of carrying
out the provisions of this act, the police
iuries Of the several parishes shall repro
sent the same parishes respectively, and
the mayor and council, or board OF select
men, or board of aldermen shall represent
she said cities, towns or Incorporated VII
iages. And it shall be lawful at any time
or times for any parish, city or town to aid
in the construction OF the aforesaid bridge
or road, or either OF them, by voluntary
contribution or gratuitous donation of real
or personal property, mOneyor other effects
belonging to such parish, city or town: and
any parish, city or incorporated town IN the
State is hereby authorized to issue five or
ten years bonds, bearing interest at rate
not exceeding ten per cent per annum, with
coupons attached, i'll favor of said bridge
and road company, and such issue of bonds
by any such parish, city or Incorporated
town, when signed by the proper officers OF
such parish, city or town, as hcreinbetore
specified, shall be good and lawful, and
shall not require any other special act OF
the Legislature to permit the same to be.
made.
SEC. IL. Be it further enacted, etc, That
the board of directors of said company shall
have the right to sell or dispose of any of
the capital stock of said company not al
ready issued at the time to any person, com
pany, corporation, or other party, on such
terms as they may deem best. and to receive
in payment therefor money, bonds of any
incorporation, materials or other thing, and
at such prices or rates as they may deem to
the interests of this company.
SEC. l3 Be it further enacted, etc, That
this act shall take effect from and after its
passage. -,u-
Sneaker Of the House Of Representatives,.
fSigned) p. B. S. PINCHBACk,
Lieutenant Governor and President of the
Senate.
Approved August Is, 1872
fSignedl H. G. WARMOTH,
Govarunr of thp State of Louisiana,