New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-11-24

business Any vacancy occurring in the
board of directors Except in the first
6oard] shall be filled by the remaining
directors for that term; any director, after
his election, disposing of his stock so as to
mold less than twenty shares, shall from
that time cease to be q director. and his
place shall be filled as above
SEC. D. 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,
oy eleotlng one of their members president,
and eiectlng 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
10 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 q 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
nf q Op If
kept by this company, and shall be taken
as evidence in any court in this State.
SEC. I. BE 1t 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, tho
time of maturity thereof, the rate of inter
est they are to bear, whether coupon bonds
or not. and every other requisite to o0nsti-
tute them legal and certain; and in order
to secure the payment of such bonds, with
the interest thereon, said directors shallo
have the right to mortgage all the property,
both real and personal, including the
bridge, which mortgage. shall be recorded
III 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-
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
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 by
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 its
charter, and in consideration therefor the
said company agrees to pay into the treas
lry Of thd Charity Hospital at Shreveport
the sum of one hundred dollars, to be paid
within fifteen days from January i'll each
year, for each and every year during it's
Term of incorporation.
SEC. TO- BE it further enacted, etc, That
his company shall have the right by it's
agents, surveyors, engineers and employees,
o enter upon all lands and tenements
trough which it may conclude to make
uch road, and survey as hereinbetore pro-
'ided, and lay out and construct the same.
hat when such road, way or route shall
I'm through any lands belonging to the
tate of Louisiana, the said company shall
ave the right of way, aud the land where
n the said company'ssroad shall be con
tructed and for the distance of eighty rods
n each side of said road, if such lands are
he property of the State of Louisiana, shall
q and are hereby granted to said company
or their use and benefit to AID in the con
tructiOn and maintenance of said road.
Sec. ii. Be it further enacted, etc, That
ny parish, city, town or Incorporated vii
Ige in this State, be and is hereby anthor-
ed to aid said company in the construc-
on of its bridge and road, or either of
lem, by contributions, or by subscribing
II it's stock, or by purchasing its bonds, or
y issuing the bonds or warrants of said
arish, city or town in favor of said com
any; and that for the purposes of CARRYING
ut the provisions of this act, the police
tries of the several parishes shall repre-
mt the same parishes respectively, and
he mayor and council; or board of select
le said cities, towns or Incorporated vii
ges. And it shall be lawful at any time
: times for any parish, city or town to aid
the construction of the aforesaid bridge
road, or either OF them, by q voluntary
or gratuitOus donation of real
personal property, money or other effects
,lOng1ng to such parish, city or town; and
~ parish, city or Incorporated town in the
ate ID hereby authorized to issue five or
n years bonds, bearing interest at a ratio
IT exceeding ten per cent per annum, with
upons attached, in favor of. said bridge
I'd road company, and such issue of bonds
any such parish, city or incorporated
wn, when signed by the proper officers OF
oh parish, city or town, as hereinbefore
ecihed, shall be good and lawful, and
all not require any other special act OF
g Legislature to permit the same to be
8de %
SEC. IL. Be it further enacted, etc., That
Q board of directors of said company shall O.
We the right to sell or dispose of any of
e capital stock of said company not al
ldy issued at the time to any person, com
ny, corporation, or other party, on such
ms as they may deem best, and to receive
payment therefor money, bonds of any
corporation, materials, or other thing, and
such prices or rates as they may deem to
3 interests of this company
SIC. -. Be it further enacted, ETC., That
q act shall take effect from and after itn
ssage.
Signed 0. II. BREWSTER.
eakeE Of the House Of Representatives
Signed) p, B. S. PINCHBACK,
7utenant Governor and President Q the
senate.