New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-07

GROUNDS, VehlcleS OF transportation, ana all
other appurtenances thereto attached shall
be exempt from taxation for ten years from
and after the date Of its completion, and
while in course of construction; and that its
officers, engineers, clerks, and agents shall
be exempt from jury and militia duty, eX-
cept 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 constitute a 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 g. Be it further enacted, etc, That
said Vidalia, Red River and Texas Railroad
! Company be and the same are hereby au-
! thOrzed and empowered to enter upon,
purchase, take and hold any lands that
t may tic necessary ind proper for the CON
| StructOn 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
/
! 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
! yards on each side of the centre line of said
nd OIL 10 Inv
! 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. 7. Be it further enacted, etc, That
after the passage of this act any of the in
cOrpOratOrs named therein, or any sub
scriber 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
company or its authorized agents.
SEC. 8. Be it further enacted, etc, That
the inCOrpOratOrs herein named, or a 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 dGtiOH en- placement of real estate, at its
market cash value, which value shall be
ascertained and fixed by experts appointed
InPOPnOP9fOrS or a m al tv-t he
provided, that said real estate so offered in
dGtiOu en- pdiement be not incUmbeFed 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
company.
SEC 9. Be it further enacted, ETC., That
in case any land through which said com
pany may conclude to construct it's railway
belongs to the estate Of any deceased per-
son, 1t may then con tract therefor with the
executors or administrators of such; OF in
case such lands belong to a minor or person
1s9)1 COnpOS meHtiS, 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,
administrators and guardians are hereby
declared competent for such estates, per
sOHs 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, eura-
tor, tutor, guardian or trustee in relation
thereto shall pass a 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,
administrators, 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
representing lands prefer, they may refer
the question of compensation to arbitrat0rs.
mutually 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
cOTp0rated cities or villages may choose to
grant in reference to the construction, main
tenance and management of the railroad
of said company, its depOts, cars, lOcOmo-
tiveS, and its business within the limits of
any GuNl luCOI DOLdIGu Guy OF village. anu
any such incorporated city of village, as
hereinbefOre named, is hereby authorized
and empowered to grant to said company
any such rights, privileges and franchises
as It may deem proper and advisable; and
such rights, privileges and franchises, when'l
granted to and accepted by said company,
from any such incorporated city or village
shall be deemed and taken as rights, priv
leges and franchises vested and confirmed
in said company and not liable to be here
after revoked, changed, injured or impair
ed, except with the consent of said COM
pany
SEC. II. Be it further enacted, etc, That
all general laws heretofore enacted by the
Legislature of Louisiana for the benefit of
railroads, for the purpose of enabling them
to appropriate property for the use of the
same, shall be and tie same are hereby de-
clared to apply to this corporation.
SEC. II. Be it further enacted, ETC., That
in case a stakeholder fails to pay the in
stallments due on his subscription of stock,
as the same may be required by the board
of directors, at the time and place required
by said board for such general payments,
the board of directors shall have the option
after having first given thirty days notice
to said stockholders in the manner to be
indicated by the directors, of FORGETTING
the stock and selling it for the benefit of
the company, or compelling payment by
suit therefor. No stakeholder shall be
permitted to vote while in default on such
payment. A stock book shall be kept at
the dOmicile of the company, and the
president shall issue certificates of stock
to stockholders, and no transfer of stock
shall be binding on the company until it be
recorded on their stock book under such
regulations as the company may make
through its board of directors.
SEC. l3. Be it further enacted, etc. That
the president, with the sanction of a ma
jority of the directors. shall have power to