New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-08-25
No. %:
AN ACT

SECTION !. Be it enacted by the Senate
| and House of Representatives Of the State
Of Louisiana III General Assembly con-
vened, That Frank NJ. Smith, A. II. Leon
| ard, Z. 2. O'Key, Charles w. Heating, S.
Peters. George w. billiard, NJ. II. CrowPn,
VI. 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 all acts
! an individual can do, 10 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
| 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
uTe.
SEC ?. Be it further enacted, etc, That
the name and stvle of this corporation
shall be "Ihe Shreveport Bridge Com
pauy," and the capital stock Of this com
pany shall be five hundred thousand dol
Jars, 10 NC Wv INABu no StdIfS VI tLlb HuLt-
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 thesCitY 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, resCrying the right 10 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, ard 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 Tegula-
tipns made by the directors.
SEC. 4. Be 1t 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 incOT-
pOratOrs named in the first section Of this
act; in the event of the death Of any such
incOrpOTatOrs the balance shall compose
the board Of directors until the end Of the
term: and in thu event Of any Of such in
c0rpOratOrs transferring their entire inter
est in this company during their term Of
service they shall cease TO act as directors
i.
place shall be filled 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 d.
rectOrs of this company shall consist Of
five stockholders who bold at least. twenty
shares of stock, 30 be elected by the stock
holders on the first Monday Of July. 1874,
and every two years thereafter; that no
stOckh0lder shall vote 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 blythe
stock book Of the company; that each
stakeholder shall have one vote for each
share of stock be may own; that any
stakeholder may vote by proxy for
directors. and that a majority of votes east
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 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
directors shall constitute a quorum for all
business. Any vacancy occurring in the
board of directors Except in the first
bOardJ shall be filed by the remaining
directors for that taTm; 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 filed 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,
10y electing one OF their members president,
and eleCtlng u secretary. When il 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 Girec-
tors, except the president. The board Of
directors shall have the right 70 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 he 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 a 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
tar as the company IS concerned in any
court in this State; that a copy. certifed to |
by the secretary OF this company. under the |
seal of this company, of any resolution of |
the stockholders or directors, Shall be evi- /
Cence OF stock or Of any written proceeding /
kept by this company, and shall be taken 1
as evidence in any court in this State.
SEC. T. Be it further enacted, etc, That I
the board of directors Of this company shal! I
have the right TO issue the bonds Of this 7
company for any amount not 20 exceed tie /
whole amount Of the capital stock, as fixed [
10y this charter and shall tx the aggregate I
amount of the bonds 70 Be issued. the /
amount and denomination OF each bond. the .
time Of maturity thereof. the rate Of inter /
est they are 10 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 bonds. with 4
the interest thereon, said directors shall /
have the right to mortgage all the property,
oolh real and personal, including the
0uage, which mortgage shall be recorded /
N the office Of the recorder Of mortgages
lor CaddO parish, and shall not be required |
anR ~, bon 2 sv,f ND nE 4