New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-09-17


the affairs OF the company shall be con
Quoted by board OF directors, the first
board OF directors to consist of the inc0r-
p0rat0rs named IN the first section OF this
act; IN the event OF the death of any such
incorporates the balance shall compose
the board OF directors until the end OF the
term; and in tho event of any of such In
corporators 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 di-
rectors. This board OF directors shall hold
office for two years from the first Monday
of July, 1872. Thereafter the board of di-
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
stakeholder 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 dirac-
tors in at least one newspaper in the parish
of the dOmiciIe Of said company, for thirty
DAYS before the election, and to annoint
three stockholders commissioners to hold
the election; a failure to hold the election.
as herein fixed. shall NOT onerate a dissoIII,
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 Tor that term; any director, after
ms elechon, dlsposlng OF his stock so as to
noId less than twenty shares, shall from
UnaC Clme cease TO De director. and his
place small De htled as above.
SEC. D. BE 1t further enacted, etc, That
the nrsG ooard OF directors OF said com
pahy shaIL organize on or before the first
!Hloh9ay OF July' 1917, ana all Subsequent
. boards, Wlthln ten Gays after their election,
ny eItcllng one ol tnelr members president,
anu eIecIlhS q secretary. when 1t becomes
necessary the 3oaru OF directors may elect
d treasurer ana engineer, OF any other otl-
GERS t3, ULeS may oeSlghate' All such ot1ceIs
Sl.sS oe rehoEdoie ~ tle BOARD OF dlrec.
Cors, except Inc pfeslaent. Inc board OF
dlIecCoEs snalI nave Che fl&nJ TO TX the
s salary VI Cne president, ana the salary or
Soll ?oIi9"Llon VI Cho oInef ollceFs, ana 10
-. equ 1IL i" oonu' mIta soou security, suoJec6
w. vnU @PpLo3"4 VI oilo ooaIo, rom the
y 1! Lei, anu ~ Tue amount thefeoI' ana
- pass @lt oS-l1"s Heenled necessary not
: - LOIS ~ VIZ LIS az VI contrary 10
SEC. b. BE 1t further enacted, etc, That |
JOCK cefudcates snail be provided, and |
Then issued, shall be signed by the presi- |
lent OF the board OF directors and counter /
lgned oy the secretary and sealed with the |
cal OF the company; and transfer book |
nan De Kept, and no transfer OF stock shall
e legal or binding on the company until
he transfer Is made on the books of the
onpany, ana such transfer shall be legal
OF the ownership OF the stock, SO
ar as the company is concerned, in any
Jul H., III inns STATE ina1 copy cefuhed to
y 70 o'f't u InlS Gol Pally; uhoef the
20 " LIS cplLl pdlJ3 o. any resolution OF
no oVoShtloI1'efS or directors, snail De EVIL
80 ~ - 9toeh " u any written proceeding
1PU ~ UnIs 0oLnP@hS' anu SNAIL De taken
) c GyIusnG IS IN any court IN TINS State.
9E 49, - ne % !! Iottner enacted etc, mat
~ ooaio VI ptfSctolS oI tnls company SHAH
ave Ihe rl9ht TO issue the bonds OF this
III P"IlS loi any amount hoC 10 exceed the
no oi': amount Oh tne capital stock; as fixed
J llls charttF' anu shall TX the aggregate
mount OF the bonds. to be issued, the ]
nouhG ana denomination OF each bond, the {
Ll9 - " maturity thefGQI, the rate OF inter
u lney are 10 pear, Whether coupon bonds
NOT anu every other requisite to cOnsti- t
L'e IAelh Iegal anu certain; and IN order
secure tlle payment OF such bonds, with
e interest thereon, SAID directors shall s
' I'VE zig IIlSllI 70 mortgage all the property,
IN real ana personal, including the
lGiSe, Wnlch mortgage snail be recorded
tl m 81 oIlIc9 OF me recorder OF mortgages
CaoGo parish, and shall not be required
oe felnscfloed 70 Keep 1t IA force and cfo
", @nu saio BOARD Oh directors shall have
t rlghU 10 receive any donation or gratu-
that may be given to said company, or
" 9Ihef ald Ghefeto on any such terms as .
~ oo aSreeu Oh between Them and other
rCleS'
SEC. 8. Be it further enacted, etc. That 7
the same company are hereby granted
e exclusive right and privilege to build.
instruct, establish and maintain plank,
ell or railroad from the terminus of said
Idge on the eastern bank of Red river to a
q across the Red Chute in Bossier parish, 0
u 10 the mills or high lands by such route Y
snail be deemed most advantageous by L
directors OF SAID company, and that the L
NE company snail be allowed and are 2
reoy empowered to charge and collect, G
passing over SAID road, tolls at such v
'es as Che directors shall prescribe; and n
same right and privileges granted by a.
$ section shall be for the same term ct al
trs as mas already been granted in this n
:, 10 wit: the term OF thirty years. il
'hc' y" BE 1t further enacted, etc, That al
property OF the SAID bridge and road p1
nPahy shaI oe exempt from State and n
llleipaI t&xatloh tor the full period Of its tt
e y ana IN consideration therefor the n
company M ny agrees TO pay into the treas e.
sum Of one hnndred dallas 2 ia a Pr Io 81
HIN fifteen DAYS from JannoTr, = ~ d POI, III
IL Iof each ana every year during its Sc
nl OF incorporation. ia