New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-09-10

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 ct
Shreveport, for 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, 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 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 regulae
tions made by the directors.
| SEC A. Be it further enacted, etc, TAat
| the affairs of the company shall be con-
| Quoted by 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 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
tba 6rs+ dow
of July, 1879. 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 ma ority 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 stock holders commissioners to hold
the election; a failure to hold the election,
as herein fixed, shall not operate q 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 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 tarm; any director, after
his election, disposing of his stock SO as 20
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
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 eleeting a secretary. When it becomes
necessary the board Of directors may elect
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
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 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
Tar as the company is concerned, in any
court in this State; that 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, and shall be taken
as evidence in any court in this State.
SEC. 7. 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
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 of such bonds, with
the interest thereon, said directors shall
nave the right to mortgage ali the property,
both real and personal including the
bridge, which mortgage shall be recorded
in the office of the recorder of mortgages
for CaddO parish, and shall not be REQUIRED
to be transcribed to keep it in force and eff
feet; and said board of directors shall have
the right to receive any donation or gratu-
lty 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
to 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
as shall be deemed most advantageous bv
the 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
the same right and privileges granted by
this section shall be for the same term OF
years as has already been granted in this
act, to wit: the term Of thirty years.
SEC. 9. Be it further enacted, etc, That
the property of the said bridge and road
company shall be exempt from State and
taxation for the full period of it's
charter, and in consideration therefor the
said company agrees to pay into the treas
ury of thd Charity Hospital at Shreveport
the sum of one hundred dollars, to be paid
within fifteen days from January / in each
year, for each and every year during its
term of incorporation.
SEC. 10. Be it further enacted, ETC.. That
this company shall have the right by it's
agents, surveyors, engineers and employees,