New Orleans Republican., 1872-05-02

same duties and exercise the same powers
as may be conferred on the president
The said board of directors shall have
power to elect treasurer a clerk, an en-.
gineer, and such other officers as in their
opinion the board or road nav REQUIRE; fix
the amount of their compensation, and re-
quire such security as they may deem
| proper, and enact rules and regulations to
| govern them in their various duties, and
| have the right to remove any officer, except
the president without showing cause. Said
board of directors shall continue in office
until their successors are elected and quail
| fed An annual election for directors shall
be held in the month of April in each year,
| at the dOmicile of the company. Thirty days
! public notice of the election, and the day on
which the same is to be held, shall be given
| previous to said election. After the first
| election, all shares of stock must be owned
and possessed by each voter in his own
right, or those Of his principal, and if by
! proxy it must be held sixty days before
voted on. Votes may be given in person or
! by proxy, and each share shall be entitled
to one vote.
SEC. A. Be it further enacted, etc, That
| the board of directors may make such rules,
! regulations and by laws for the government
of its officers and the management of its
| business as they may deem eXpedient.
| They may determine when and where the
| subscription books hereby authorized may
| be opened for subscription to the capital
| stock thereof, and when closed may fix on
! the day in the month Of April, and give
notice thereof for the holding of annual
meetings of stockholders for the election of
directors may fill vacancies that may
occur in the board and may, in the name
and on behalf of said company, make such
contracts, enter into such engagements,
and do and perform all such acts as they,
or a majority of them, may deem proper,
| convenient or necessary for the accom-,
plishment of the object for which said
company is created.
SEC. ). BE it further enacted, etc, That
the capital stock Of said company, it's fix
| lures, workshops, warehouses, depot
grounds, vehicles OF transportation, aUd all
other appurtenan ces thereto attached shall
be exempt from taxation for ten years from
and alter the date of its completion, and
| while in course of construction; aud that its
officers, engineers, clerks, and agents shall
be exempt from jury and militia duty, eX-
cept IN case of invasion or insurrection.
Provided however, that after the exemp-
tiOn herein granted shall cease all State
taxes levied upon said road and its prop
erty shall be paid into and constitute part
| 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 may
be issued by the parishes, as hereinafter
provided, until the full and final redemption
of said first mortgage and parish bonds
SEC 9. Be it further enacted, etc, That
said Fidalia, 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
10 IL,
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-
quiTed by said company for excavation or
embankment, or for turnOuts, lepOts, sta
tiOnhOuses. docks, whaTves, or other pur
poses i'll 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
yards 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
cOmpauy's 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. I. Be it further enacted, etc, That
after the passage of this act. any of the in
cOrpOratOrs named therein, OF any sub
sCribeT 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 incOrpOratOrs herein named, or a ma
iOritY 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 dHtioS en- paiemcnt of real estate, at its
market cash value, which value shall be
ascertained and fixed by experts appointed
by said iDcOrpOTatOrs, or q majority thereof;
provided, that said real estate so offered in
datiOR e2 pdiemeHt be not incUmbered with
mortgage or other incumbrance, the title
thereof perfect, and, in the opinion of said
lncOrporatOrs, or a majority thereof, sUch
payme9t is for the interest of said railroad
company.
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 contract therefor with the
executors or administrators of such: or in
case such lands belong to q minor or person
non cOBfpNS meHtiS, then with his guardian
or tutor; or in case said lands be held t1y
trustees of school sections or other trustees
of estates, then with such trustees, gualdi-
ans or tutors; and such trustees, executors
administrators and guardians are hereby
declared competent for such estates, per
sons or BinOrs, 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 usefnl and necessary for
the purpose of said railroad. and the act and
deed of each executor, administrator, cura-
tor, tutor, guardian or trustee in relation
thereto shall pass a title in such lands in
the same Eoanner as if the said deed or act
were made or done by legal owner of full
age and sound mind; and such executors.
administrators, CuratOrs, tutors. guardians
or trustees shall account to those interested
in their respective lands for che amount
paid him in pursuance of such agreement;
and, if the said company and the parties
representing lands prefer they may refer
the question cf compensation to arbitrators
chOsen, whose award, or that of
their umpire, in case of disagreement, shall
vest title according to i6s terms and be con-
elusive in the premises.
SEC. 10. Be il further enacted, etc, That
the said company are hereby aGthorized
and empowered to obtain, by g-ant or
otherwise, from any incorporated city or
village that may be situated upon or conti-
guOus to its line of railway, any right, |
or franchises that any Of said in |