New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-10

other appurtenances thereto attached shall
be exempt from taxation for ten years from
and after the date of it's completion, and
while IN course of construction; and that its
othcers, engineers, clerks, and agents shall
be exempt from jury and militia duty, eX-
eept 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 eOnstitute a mart
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 NAV
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-
poses in the conduct of the business of said
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
wards on each side of the centre line of said
railroad and said company is hereby au-
thOrized to enter upon any lands owned by
the State, and adjacent to the line OF said
companys 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 z. Be it further enacted, ETC., That
after the passage of this act, any of the in
cOrpOratOrs named therein, or any sub
seriber 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
company or its authorized agents
SEC. 8. Be it further enacted, etc., That
the ineOrpOratOrs herein named, or 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,
a ddtiOn 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
SEC. g. 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 ntract therefor with the
executors or administrators of such; or in
case such lands belong to a minor or person
non cODlpos DlelltiS, 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,
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, cura-
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 a legal owner of full
age and sound mind; and such executors,
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 may refer
the question of compensation to arbitrator,
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
5OrpOrated cities or villages may choose to
grant in reference to the construction. main
-enance and management of the railroad
Of said company, its depots. cars, locomO-
lives, and its business within the limits of
any such Incorporated city or village: and
any such incorporated city of village, as
lereinbefOre named, is hereby authorized
md empowered to grant to said company
any such rights, privileges and franchises
rs It may deem proper and advisable; and
such rights, privileges and franchises, when
granted to and accepted by said company,
rom any such incorporated city or village,
,haIl he doomed aud tal iuI,f
eyes and franchises vested and confirmed
n said company and not liable to be here
after revoked, changed, injured or impair
I'd, except with the consent of said com
)any.
SEC, H. Be it further enacted, etc, That |
Ill general laws heretofore enacted by the |
Legislature of Louisiana for the benefit of |
for the purpose of enabling them |
% appropriate property for the use of the |
anne, shall be and tie same are hereby de- |
dared to apply to this corporation.
SEC. II. 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 by the board |
# directors, at the time and place required |
~ said board for such general payments, |
he board of directors shall have the option, |
lfter having first given thirty days notice |
% said stockholders in the manner to be |
Indicated by the directors, of FORGETTING |
he stock and selling it for the benefit Of |
he company, or compelling payment by |
uit therefor. No stakeholder shall be |
to vote while in default on such |
A stock book shall be kept at |
he dOmicile of the company. and the I
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 such
equations as the company may make
through its board of directors.
SEC. 10. Be it further enacted etc.. That
he president, with the sanction of ma
GRITTY of the directors, shall have power to
ata said rnad or s11ch rnrtinr, o. - l. |