New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-09-07

ULlS SOlup unJ SiIblI nave buS tACitsINO
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, 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 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
| rallro3d; and that same company shall
| have the right to charge such tolls thereon
| as may be liked 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 A. Be it further enacted, etc. That
the affairs of the company shall be con-
Quoted by 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
incorp0ratOrs the balance shall compose
the board of directors until the end of the
term; and in the event of any of such in
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 filled 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 d.
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
stockholder 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
stockholder shall have one vote for each
share of stock he may own; that any
stakeholder may vote by proxy for
directors, and that majority of votes cast
shall elect; that it shall be the duty of the
directors to advertise the election for direG-
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 a dissolu-
ton of this corporation, but the old board
of directors shall hold over until the next
regular election. A majority of the board
Sud1I CONSTITUTE 1OG dl1
business. Any vacancy occurring in the
board Of directors Except in the first
board) shall be filled by the remaining
directors for that term 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 filled 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 their members president,
and electing a secretary. When it becomes
necessary the board of directors may elect
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 or
Of the other officers, and to
require a-bond, with good security, subject
to the approval of the board, from the
treasurer, and fix the amount thereof, and
to pass all bylaws deemed necessary, not
with this act or contrary to
law.
Sec 6. Be it further enacted, ETC., That
sock certificates shall be provided, and
Wen issued, shall be signed by the presi-
Oct of the board of directors and counter
Styled by the secretary and sealed with the
seai0f the company; and a transfer book
6haA be kept, and no transfer of stock shall
oe legal or binding on the company until
the transfer is made on the books of the
company, ard such transfer shall be legal
evidence OF the ownership of the stock, so
laF as the company is concerned, in any
Goul IN thls State; that copy, certified to
Dy the secretary OF this company, under the
sea OF ms company, OF any resolution of
5he sCockhoiders or directors, shall be evil
aence OF stock or of any written proceeding
kept by this company, and shall be taken
as evidence IN any court in this State.
, SEC T. Be it further enacted, ETC., That
me BOARD OF directors of this company shall
nave the right to issue the bonds Of this
company Tor any amount not to exceed the
Whole amount of the capital stock, as fixed
)y TINS charter, and shall fix the aggregate
amount Of the bonds to be issued, the
mount and denomination of each bond, the
tme OF maturity thereof, the rate of inter
On, they are to bear whether coupon bonds
VI leG, AMI every other requisite to cOnsti-
"a them IegaIeand certain; and in order
~ " SGure the payment of such bonds, with
i,l hterest thereon, said directors shall
i h@Eo Le right to mortgage all the property,
poth fal and. personal, including the
bridge, Which mortgage shall be recorded
IN t II, ,oiii@e of the recorder of mortgages
Ior Caoao larish, and shall not be required
70 pe felnsc! bed to keep it in force and eff
lect; ana SAT- board of directors shall have
! the [lght 10 receive any donation or gratu-
lIy thaJ may be given to said company. or
any other AID thtreto on any such terms as
may pc agreed Ga between them and other
parties.
SEC. .. BE it further enacted, ETC.. That
~ tue same company are hereby granted
She exclusive right ana privilege to build,
construct, establish and maintain a plank,
shell or railroad from the terminus Of said
bridge on the eastern bank Of Red river TO
and across the Red Chute in ROssier narish,
and TO the hills or high lands by such route
as shall be deemed most advantageous by
NE directors OF said company, and that the
same company shall be allowed and are
hereby empowered to charge and collect.
or passing over said road, tolls at such
'ates as the directors shall prescribe; and
ne same right and privileges granted by
ms secu0n sshaii be for the same term of
cars DIS mas already been granted in this
sct, TO wit: the term of thirty wears.
SEC. 9. Be it further enacted etc. That
ne property of the said bridge and road
company shall be e1 empt from State and
municipal taxation for the full period of ita
harter, and in. consideration therefor the
ana company agrees TO pay into the treas
ny OF thd Charity Hospital at Shreveport
ne sum OF one hundred dollars, to be paid
'lthln fifteen Gays from January | in each
ear, Tor each and every year during it's
erm OF incorporation.
SEC. 10. Be it further enacted etc That
ms company shall have the right bv its
gents, surveyors, engineers and employees.
=. ehVer upon all lands and tenemepta
trough which it may conclude to make
uch r0ady and survey as hereinbefore pro-
ided, and lay out and construct the same.