New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-08-24


panY, and to authorize the company L
issue its bonds and to build a road frOu
Red river to and across Red Chute to Jht
hills, in BOssier parish and to collect TOLL
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. IL. Leon
ard, Z. p. O'Key, Charles w. Heating, s
Peters George w. billiard, NJ. II. Crowell
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 a body corporate and polite, to
act in their corporate capacity as one per
son, and are hereby authorized, in their cor
porate capacity to do and perform an acts
an individual can do, to purchase, lease,
sell or exchange real or personal property,
rights or credits, as an individual can do,
and to sue and be sued, and 20 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
retary 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 g 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 one hun
bred 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 have the exclusive
right to build, equip and maintain a bridge
across the Red river, to terminate. on the
east bank Of Red river, opposite the city of
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 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 regula-
tons 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 iucor-
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 Tesidues of the term, and their
place shall be filed by the selection of
some other stockholders by the other di-
rectOTs. This board of directors shall hold
office for two years from the first Monday
of July, 1872, Thereafter the board OF di- |
rectOUs 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 |
shall have one vote for each |
share of stock he may own; that any
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 diTec- |
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; failure to hold the elacuon, |
Is herein fixed, shall not operate a diszOtu- |
ion of this corporation, hut the old board |
Of directors shall hold over until the nc.t |
regular election. A majority of the board !
directors shall constitute a quorum for all |
business. Any vacancy occurring in the |
board Of directors Except iD the first /
)Oard) shall be filled by the remaining |
directors for that term; any director after |
MS election, dispOsing of his stock so as TO
lold less than twenty shares, shall from
hat time cease to be a director, and his
'lace shall be filed rs above.
SEC. ). Be it further enacted. etc. That
he first board OF directors of said COM
amy shall organize on or before the first
Monday OF July, 1872, and all subsequent
boards, within ten days after their election,
" electing one of their members president,
nd electing a secretary. When it becomes
ecessaTy the board of directors may elect
treasurer and engineer, or any other Off
ers they may designate All such officers
hall be removable by the board Of direc-
OTs, except the president The board of
directors shall have the right to fix the
alary OF the president, and the salary or
compensation of the other officers, and to
equire bond, with good security, subject
0 the approval of the board, from the
treasurer, and fix the amount thereof, and
D pass all bylaws deemed necessary, not
lcOusistent with this act or contrary to
Nv.
Sec. g. Be it further enacted, etc, That
-0ck certificates shall be provided, and
hen issued, shall be signed by the presi-
ent of the board of directors and counter
gned by the secretary and sealed with the
'al OF the company; and a transfer book
lall be kept and no transfer of stock shall !
legal or binding on the company until
ie transfer Is made on the books of the
'mpaBy, and such transfer shall be legal
.ldence of the ownership of the stock, so
II as the company is concerned, in any |
'urt IN this State; that a copy, certified to
ihe secretary Of this company, under the
al Oh tGis company, of any resolution of
g stOCAhoIders or directors, shall be evi.
'ucS OF StUck or Of any written proceeding
'pt Oy TINS company, and shall be taken |. !
evidence IN any court in this State.
SEC q. be IL further enacted, ETC., That I
e Doafu OF directors Of this company shall I
we the right 10 issue the bonds of this L
mpany for any amount not 10 exceed +I,e /
hole amount Of the capital stock. as tived !
this charter, and shall Tx the aggregate :
lOunt of the bonds to be issued. fine 4
lOunt and denomination of each bond. the !
ne Of maturity thereof, the rate of inter I h
they are to bear, whether coupon bonds
not. and every other requisite to consti- 1
e them legal and certain; aud in order il
secure the payment of such bonds. with
J mn =. / q
We the right to mortgage all the property.
-h real and narsnnal innlnainm IL I