New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-04

! as may be conferred on the president
The said board of directors shall have
power to elect a treasurer, clerk, an en-
gineer, and such other officers as in their
opinion the board or road may REQUIRE; fix
the amount of their compensation, and re
quire such security as they may deem
proper, and enact rules and regulations tC
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. 4. Be it further enacted, etc, That
! the board of directors may make such rules,
regulations and bylaws 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 majority of them, may deem proper
! convenient or necessary for the accom-
! plishment of the object for which said
! company is created.
SEC. 5. Be it further enacted, etc, That
the capital stock of said company, its fix
| lures, workshops, warehouses, depot
| grounds, vehicles OF transportation, and 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; and 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-
ton 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, i'll the State treasury for redemption of
the first mortgage bOuds of said company;
and all parish taxes thereon shall be paid
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. 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-
SIR nd V1s of rail W. mn aN
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
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
cOmpany's line Of railroad, and take and re-
move theretrOm, and appropriate TO the use
of said company, any timber, earth or other
material necessary for the construction Of
the same.
SEC T. Be it further enacted, etc, That
after the passage of this act, any of the in
cOrpOratOrs named therein, or any sub
serlber 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, OF a ma
Jority thereof, are hereby authorized to re
ceive in payment Cor subscription to the
capital stock of said railroad company in
stead of payment in currency or money,
a ddtiOH 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
dGtiOn 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 |
company.
SEC. g. Be it further enacted, etc, Thai
in case any land through which said com |
pany may conclude to construct its railway |
belongs to the estate of any deceased per |
son, II may then contract therefor with the |
executors or administrators of such: or in I
case such lands belong to a minor or person |
non cOmpOS meutS, 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; aud such trustees, executors,
and guardians are hereby /
declared competent for such estates, per
sons or minors, to contract with sail com
pany to use, occupy and possess the lands |
of such persons, estates, minors or trustees, |
50 far as may he useful and necessary for
the purpose Ofsaid railroad, and the act and /
deed of each executor, administrator, cUra-
tor, tutor, guardian or trustee III 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 IA legal owner Of full
age aud sound mind; and such executors.
CuratOrs, tutors. guardians
II trustees shall account to those interested
in their respective lands for the amount
Jad him in pursuance of such agreement;
and, If the said company and the parties
lands prefer, they may refer
he question Of compensation TO arbifrators,
mutually chosen, whose award, or that of
heir umpire, in case Of disagreement, shall
,est title according to its terms and be con
'lusive in the premises.
SEC. 10. Be it further enacted etc. That
he said company are hereby authorized
md empowered to obtain, by grant or
'therWlse from any Incorporated city or
'illage that may be situated upon or CONT
.uous 10 its line of railway, any right
privileges or franchises that any of said in
oporated cities or villages may choose to
rant in reference to the construction, main