New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-10-22
LAWS OF THE STATE OF LOUISIANA
PUBLISHED BY AUTHORITY.
No. o5.


heO river 10 ana across heu CnuI6 10 inc
hills, in Bossier parish, and to collect tolls
thereon, and for other purposes.
SECTION /. Be it enacted by the Senate
and House Of Representatives Of the State
of Louisiana in General Assembly con
vened, That Frank NJ. Smith, A. Fl. Leon
ard, E. p. O'Key, Charles w. Heating, ).
Peters, George w. billiard, NJ. d. Crowel,
NJ. A. Walsh, d. D. Smith, S. NJ. Thomas,
and their successors and assigns, and such
other persons as they may hereafter asso-
ciate with themselves, be and are hereby
constituted body corporate and polltlc, 10
act in their corporate capacity as one per-
son, and are hereby authorized, IN their cor
porate capacity, to do and perform all acts
an individual can do, to purchase lease,
sell or exchange real or personal property,
RIGHTS DIR credits. as an individual can do,
and TO sue and be sued, and 10 do all things
an incorporation can do; that service Of
citation or other legal process shall be
made On the president of the company, or,
in the absence of the president, on the sec
rotary thereof that the domicile Of this
company is fixed in the city Of Shreveport,
in the parish of Caddo, in the State OF
Louisiana. This company shall have a seal,
and may change or alter the same at pleas
ure
SEC. ?. Be it further enacted, etc, That
the name and style of this corporation
shall be "The Shreveport Bridge Com
pany," and the capital stock of this com
pany shall be five hundred thousand dol
lars, to be divided into shares of enc hun
dred dollars each, making five thousand
shares. 1t shall be competent for the
stockholders Of this company to fix the
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 bave 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 Of
Shreveport, tor 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 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
SdluO CAGCpJ LII dtSOiudtiGO W VIC ICS ultt-
lions made by the directors.
SEC. 4. Be it further enacted, etc, That
the affairs of the company shall be con
Quoted by a 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
incorporat0rs the balance shall compose
the board of directors until the end Of the
term and in the 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 filed 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 a majority 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 stockholders commissioners to hold |
the election; a failure to hold the election,
as herein fixed, shall not operate dissoIu~ |
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 quorum for all |
business. ANY vacancy occurring in the |
board of directors Except in the first
boardl shall be filed by the remaining
directors for that term; any director, after
his election, disp0sing Of his stock SO as to
hold less than twenty shares, shall from I
that time cease to be director, and his
place shall be filed as above.
Sec. 5. 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 thfir members president,
and electing secretary. When it becomes
necessary the board OF directors may elect
q treasurer and engineer, or any other otIi-
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
OF the other officers all to
'equire bond, with good security. subject
% the approval Of the board, from the
aud fix the amount thereof, and
% pass all bylaws deemed necessary, not
Inconsistent with this act or contrary to
aw.
SEC. G. Be it further enacted, etc, That
took certificates shall be provided, and
ghen issued, shall be signed by the presi-
lent of the board of directors and counter
igned by the secretary and sealed with the
eal of the company: and a transfer book
hall be kept, and no transfer of stock shall
,e legal or binding on the company until
no transfer is made on the books of the
company and such transfer shall be legal
violence of the ownership of the stock, so
ar as the company is concerned in any
0urt IN this State; that a copy, certified to !
~ the secretary of this company, under the
cal OF tins company of any resolution Of
he stockholders or directors shall be eyi-
lence Of stock or of any written proceeding
iept by this company, and shall be taken
Is evidence IN any court in this State
SEC Z. Be it further enacted, etc. That
he board Of directors Of this company shall
ave the right to issue the bonds of this
ompany for any amount not to exceed the
whole amount of the capital stock, as fixed
" this charter, and shall fix the aggregate
mount Of the bonds to be issued, the
mount and denomination of each bond, the
lme OF maturity thereof, the rate Of inter
st they are to bear, whether coupon bonds
T not and every other requisite to consti-
ute them legal and certain; and in order
0 secure the payment Of such bonds. with
he interest thereon, said directors shall
ave the right to mortgage all the property,
9th real and personal, including the
ridge, which mortgage shall be recorded
., +1,y, IL.