New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-09-15

to police such bridge, so that no one or
thing shall be allowed to pass over the
same except in accordance to the regula-
tions made by the directors.
SEC. 4. 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 inc0r-
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 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-
rect0rs This board of directors shah hold
office for two years from the first Monday
2. 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
| 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
! stakeholder shall have one vote fer each
| snare Oh stOcR he may OWns tudU 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 diTec-
| tors III al least one newspaper III the parish
| of the dOmiciIe 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 1issoIu-
/ nf this but ba old bCap,1
of directors shall hold over until the next
regular election. A majority of the board
directors shall constitute a quorum for all
! business. Any vacancy occurring III the
board of directors Except in the first
board) shall be filled 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 director. and his
place shall be filled as above.
SEC. }. 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
o 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
compensation of the other officers, and to
require 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
inconsistent with this act or contrary to
law.
SEC 6. Be it 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 be 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
far as the company is concerned, in any
court in this State; that copy, certified to
by the secretary of this company, under the
seal Of this company, of any resolution of
the stockholders or directors, shall be evi-
dence of stock or OF any written proceeding
kept by this company, and shall be taken
as evidence in any court in this State
Sec g. BE it further enacted, etc.e 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 of inter
est they are to bear whether coupon bonds
or not and every other requisite to cOnsti-
tute them legal and certain; and in order
to secure the payment of such bondsp with
the interest thereon, said directors shall
have the right to mortgage all the property.
hot pn1i ON nj incl
bridge, which mortgage shall Be recorded
in the office of the recorder Of mortgages
for CaddO parish, and shall not be required
to be transcribed to keep jtin force and eff
feet; and said board of directors shall have !
the right to receive any donation or gratuo
ity that may be given to said company, or
any other aid thereto on any such terms as
may be agreed on between them and 0theJ |
parties.
SEC. 8. Be it further enacted, etc. That
to the same company are hereby granted |
the exclusive right and privilege to build, |
construct, establish and maintain plank,
shell or railroad from the terminus of said
bridge on the eastern bank of Red river to
and across the Red Chute in Bossier parish,
and to the hills or high lands by such route
as shall be deemed most advantageous by
the directors Of said company, and that the
same company shall be allowed and are
for passing over said road, tolls at such
rates as the directors shall prescribe; and
the same right and privileges granted by
this section shall be for the same term OF
years as has already been granted in this
act, TO wit: the term of thirty years.
SEC. 8. Be it further enacted, etc, That
the property Of the said bridge and road
company shall be ex empt from State and
municipal taxation for the full period of its
charter and in consideration therefor the
said company agrees to pay into the treas
ury Of thd Charity Hospital at Shreveport
the sum Of one hundred dollars, to be paid
within fifteen days from January in each
year, for each and every year during its
term of incorporation.
I. SEC 10. Be it furtherenacted, etc, That
this company shall have the right by its |
agents, surveyors, engineers and employees,
to enter upon all lands and tenements
through which it may conclude to make
such road, and survey as hereinbefore pro-
vided, and lay out and construct the same.
That when such road, way or route shall
run through any lands belonging to the
State of Louisiana, the said company shall
have the right of way, and the land where
on the said cOmpary's road shall be con.
structed and for the distance of eighty rods
on each side of said road, if such lands are !
the property of the State of Louisiana, shall |
be and are hereby granted to said company
for their use and benefit to aid in the con
struction and maintenance of said road.
SEC. IL. Be it further enacted, etc, That |
any parish, city, town or incorporated vii |
lage in this State, be and is hereby anthor- |
lied to aid said company in the construc- |
ton of its bridge and road, or either OF |