New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-12-01
laws OF THE STATE OF LOUISIANA
PUBLISHED BY AUTHORITY.
~ o. 80.
AN ACT

hills, in Bossier parish. and to collect tolls
thereon, and for other purposes.
SECTION |. Be il enacted by the Senate
and H0use of Representatives Of the State
of Louisiana IN General Assembly con
Eened, That Frank NJ. Smith, A. H. Leon
ard, E. J. O'KeY, Charles w. Heating, s.
Peters, George W. DilIard NJ. H. CroweII.
NJ. A. Walsh, ID. D. Smith, S. Ill Thomas,
and their successors and assigns, and such
0ther persons as they may hereafter assu-
Giate with themselves, be and are hereby
constituted body corporate and polite, to
act ia their corporate capacity as one per
con, and are hereby authorized, in their cor
DOrate capacity, to do and perform all acts
az individual can do, to purchase, lease,
cell or exchange real or personal property,
sights OF credits, as an individual can do,
aud to sue and be sued, and 10 do ali things
an incorporation can DO; that service Of
citation or other legal process shall be
Wnade on the president of the company, or,
on the absence Of the president, on tie see
0etary thereof; that the dOmiCile OF this
company il fixed in the city of Shreveport,
ON the parish of Caddo, 10 the State OF
Louisiana. This company shall have seal,
and may change or alter the same at pleas
0lre
SEC. 2. Be it further enacted, etc, That
Che name and style of this corporation
9hall be "The Shreveport Bridge Com
Dauy," and the capital stock of this com
pany shall be five hundred thousand dol
Vars, to be divided into shares of one bun
&red dollars each, making five thousand
RhareS. Ii shall be competent for the
stockholders of this company to fix the
amount OF the capital stock from tune TO
SiIne, as in their judgment they may deem
best, not to exceed one million dollars.
SEC 3. Be it further enacted, etc, That
CHS company shall have the exclusive
fright to build, equip and maintain bridge
Al,1 Il
east bank of Red river, opposite the city of
shreveport, tor the purpose of passing
vehicles Of all kinds, animals, produce OF
Mi kinds, merchandise and foot passengers,
and for all purposes bridge may be used
dor; and no other bridge shall be built
across said river within q distance Of five
miles in either direction for the period Of
Ghirty years, reserving the right 10 any
Gailroad company to build bridges within
said limits solely for railroad purposes, but
an no way to be used for any of the purposes
above stipulated, except as belonging to
dhe actual business and operating of the
railroad; and that same company shall
la7e the right to charge such tolls thereon
rs may be fixed 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 Tegula-
&ions made by the directors.
4.
Che affairs of the company shall be con
Quoted by a board of directors, the first
board of directors to consist of the inC0r-
porators named in the first section Of this
act; in the event of the death Of any such
GnCOrpOratOrs 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 She term, and their
place shall be filed by the selection Of
some other stockholders by the other dl-
TectoTs. This board of directors shall hold
office for two years from the first Monday
OF July, 1872 Thereafter the board OF di,
TectOrs of this company shall consist of
ave 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
stocEh0lder shall have one vote for each
ehare of stock he may own; that any
stakeholder may vote by proxy Tor
directors, andrtlat a majority Of votes cast
shall elect; that it shall be the duty Of the
directors to advertise the election for direc
Gors in at least one newspaper in the parish
az the dOmiCile Of said company, for thirty
days before the election, and to appoint
9hree stockholders commissioners TO hold
she election; failure to hold the election,
81 herein fixed, shall not operate dissolu-
ton OF this corporation, but the old board
0f directors shall hold over until the next
SECULAR election. A majority Of the board
directors shall constitute q 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 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. j. BE it further enacted, etc, That
she 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,
0y electing one of their members president,
and electing a secretary. When 1t becomes
necessary the board OF directors may eject
a 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 OF
compensation Of the other officers, and to
require bond, with good security subject
to the approval of the board, from the
treasurer, and Tx tho amount thereof and
TO pass all bylaws deemed necessary, not
Inconsistent with this act OF contrary to
law.
SEC. 6. Belt 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 he 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 States that copy, certified to
nv the secretary Of this company, under the
seal Of this company Of any resolution OF
the stockholders or directors, shall be evi
denco of stock or oil any written proceeding
kent bv this company, and shall be taken
as evidence ia any court in this State.
SEC. T. Be il 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 ot inter-
est they are to bear, whether c1upon bonds
or not. and every other requisite to consti-
tute them legal and certain: and in order
70 secure the payment Of such bonds, with
the interest thereon, said directors shall
have the right to mortgage Oil the property,
both real and personal, including the
bridge, which mortgage shall bo recorded
in tl,p office of the recorder OF mortgages