New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-09

i
| be exempt from taxation for ten years from
| and after the date of its completion, and
| while in course of construction; and that IT'S
| officers, engineers, clerks, and agents snail
be exempt from jury and militia duty, ex-
| cept in case of invasion or instruction.
| Provided, however, that after the exemp-
| ton herein granted shall cease all state
! taxes levied upon said road and its prop
! erty shall be paid into and constitute part
! of the sinking fund, hereinafter provided
for, in the State treasury for redemption of
| the first mortgage bOuds of said company;
| and all parish taxes thereon shall be paid
| into and constitute part Of the sinking fund
! for the redemption of the bonds which may
| be issued by the parishes, as hereinafter
! provided, until the full and final redemption
| of said first mortgage and parish bonds.
SEC. 6. Be it further enacted, ETC., That
said Vidalia, Red River and Texas Railroad
! Company be and the same are hereby au-
| thorized and empowered to enter upon,
purchase, take and hold any lands that
may be necessary and proper for the con-
| struction and use of said railway, not eX-
| ceeding one hundred and fifty feet on each
| side of its centre line, together with such
other lands and premises as may be re-
| quired by said company for excavation or
! embankment, or for turnOuts, depOts, sta
| tiOnhOuses. docks, wharves, or other pur-
/
railway; adequate compensation to be given
! to, or satisfactory settlement made with, all
owners of property so to be taken and used
| by said company. The right Of way is here
| by granted to said company through any
and all lands belonging to the State of
Louisiana, and through which said railroad
may pass, to the distance of two hundred
yards on each side of the centre line of said
railroad and said company is hereby au-
! thOrlzed to enter upon any lands owned by
the State, and adjacent to the line of said
company's line of railroad, and take and re-
move therefrOm, and appropriate to the use
of said company, any timber, earth or other
material necessary for the construction of
the same.
Sec. T. Be it further enacted etc, That
after the passage of this act, any of the in
cOrpOrators named therein, or any sub
scriber to the capital stock of said railroad
company, may solicit and accept, for the
benefit of this company, by himself or
agent, any donation, or gift of the right of
way through lands of prOprietOrs through
which the road may pass; or any donation
or gift of land for depot grounds, or other
purposes, or as a fund for aiding to build
the same; and such donations and gifts to
this company shall be binding on those
making the same, and their heirs, and with
out any formal acceptance thereof by the
SEC. 8. Be it further enacted, ETC., That
the incOrpOratOrs herein named, or a ma
jOrity thereof, are hereby authorized to re-
ceive in payment for subscription to the
capital stock of said railroad company, in
stead of payment in currency or money,
datiOn en- Placement of real estate, at its
market cash value, which value shall be
ascertained and fixed by experts appointed
by said incOrpOratOrs, or a majority thereof;
provided, that said real estate so offered in
ddtion en- Placement, be not incUmbered with
mortgage or other incumbrance, the title
thereof perfect, and, in the opinion of said
incOrpOratOrs, or a majority thereof, such
payment is for the interest of said railroad
company.
SEC. 9. Be it further enacted, ETC., That
in case any land through which said COM
pany may conclude to construct its railway
belongs to the estate of any deceased per-
son, it may then contract therefor with the
executors or administrators of such; OF in
case such lands belong to a minor or person
non eOnlpOS nlelltiS, then with his guardian
or tutor or in case said lands be held by
trustees of school sections or other trustees
of estates, then with such trustees, guardi-
ans or tutors; and such trustees, executors
administrators and guardians are hereby
declared competent for such estates, per
sons or minors, to contract with said com
pany to use, occupy and possess the lands
of such persons, estates, minors or trustees,
so far as may be useful and necessary for |
the purpose Ofsaid railroad and the act and |
deed of each executor, administrator eura- |
tor, tutor, guardian or trustee in relation |
thereto shall pass title in such lands in |
the same manner as if the said deed or act |
were made or done by legal owner of full |
age and sound mind; and such executors, |
administrators, Curators, tutors. guardians |
or trustees shall account to those interested |
in their respective lands for the amount |
paid him in pursuance of such agreement: |
and, if the said company and the parties |
lands prefer. they NAV refer |
the question of compensation to arbitrators, |
chosen, whose award, or that of |
their umpire, in case of disagreement, shall /
vest title according to its terms and be con- /
elusive in the premises.
SEC. 10. Be it further enacted, etc, That |
the said company are hereby authorized |
and empowered to obtain, by grant or
otherwise, from any Incorporated city or
village that may be situated upon or CONT
guOus TO its line of railway, any right |
privileges or franchises that any of said in
corporated cities or villages may choose to
grant IN reference to the construction, main
tenance and management. of the railroad
Of said company, its depOts, cars lOcomo-
5lves, and its business within the limits of
any such Incorporated city or Villages and
any such Incorporated city of village. as
lereinbetOre named, is hereby authorized
and empowered to grant to said company
any such rights, privileges and franchises
as It may deem proper and advisable; and
such rights, privileges and franchises, when
granted to and accepted by said company,
from any such incorporated city or village,
shall be deemed and taken as rights, privi-
eges and franchises vested and confirmed
n said company and not liable to be here
! flor nav I'D oh ID s,,.s,,.
I'd, except with the consent of said COM
1any.
SEC. IL. Be it further enacted, etc, That
Ill general laws heretofore enacted bv the
Legislature of Louisiana for the benefit of
for the purpose of enabling them
20 appropriate property for the use of the
ame, shall be and the same are hereby de-
,lared to apply to this corporation.
SEC. u. Be it further enacted, etc., That
n case stakeholder fails to pay the in
tallments due on his subscription of stock,
Is the same may be required bv the board
II directors, at the time and place required
y said board for such general payments.
he board OF directors shall have the option,
liter having first given thirty days notice
% said stockholders in the manner to he
Indicated by the directors, of fOrfeiting
he stock and selling it for the benefit Of
he company, or compelling payment bv
u1t therefor No stakeholder shall be
to vote while in default on such
payment. A stock book shall be kent at
he domicile of the company. and the |
PRESIDENT shall issue certificates of stock
o stockholders, and no transfer of stock
hall be binding on the company until it be
ecorded on their stock book under sucb
egulatlons as the company may make
trough its board of directors.
SEC. IL. Be it further enacted, ETC., That
ne president, with the sanction of a ma
Ority of the directors, shall have mower To- !
Ocate said road. or such nnrtinn o. -. l.