New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-09-13


best, not to exceed one million dollars.
SEC. 3. Be 1t further enacted, ETC., Tha
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 the city O.
Shreveport, for the purpose of passing
vehicles of all kinds, animals, produce O,
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 distance of five
miles in either direction for the period OF
| thirty years, reserying the right to 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 liked by the board of directors
| of said company, and 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 regula-
tons made by the directors.
SEC. 4. Be it further enacted. etc. That
| the affairs of the company shall be con
| Quoted by q board of directors, the first
| board of directors to consist of the incor-
| 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 tho 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 filled by the selection of
some other stockholders by the other di-
! reGtOrs. This board of directors shall hold
| office for two years from the first Monday
/ cF I'LL ~ Il
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
stakeholder 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 for each
share of stock he may own; that any
stakeholder may vote by proxy for
directors, and that a majority of votes cast
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; failure to hold the election.
as herein fixed, shall not operate dissoIu-
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
board) shall be filled BY the remaining
directors for that t6rm; any director. after
his election, dlspOsing of his stock so as to
hold less than twenty shares, shall from
that time cease to be director and his
place shall be filed as above.
SEC. 5. 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 subsequen5
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 NAV elect
a 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
De legal or binding on the company until
he transfer is made on the books of the
company, and such transfer shall be legal
evidence OF the ownership Of the stock, SO
ar as the company is concerned, in any
Oult IN this State; that copy, certified to
" the secretary of this company, under the
cal OF tins company, OF any resolution of
ne stockholders or directors, shall be evi
ence OF stock or OF any written proceeding | ,
ept by this company, and shall be taken
8 evidence in any court in this State.
SEC. 4. BE 1t further enacted, etc, That
ne board OF directors of this company shall 7
ave the right to issue the bonds of this
ompany for any amount not to exceed the
mole amount of the capital stock, as fixed
y this charter, and shall fix the aggregate
mount OF the bonds to be issued, the 7
mount and denomination of each bond, the {
me OF maturity thereof, the rate of inter T
st they are to bear, whether coupon bonds I
not. and every other requisite to cOnsti- :
lite them legal and certain; and in order P
} secure the payment of such bonds, with S
le interest thereon, said directors shall ;
ave the right to mortgage all the property, :
9TH real and personal, including the s
'1dge, which mortgage shall be recorded
the office of the recorder of mortgages Il
T Caddo parish, and shall not be required N
be transcribed to keep it in force and eff C
ct; and said board of directors shall have N
e right to receive any donation or gratu- @.
7 that may be given to said company. or VI
~ other aid thereto on any such terms as
ay be agreed on between them and other
rites.
SEC. s. Be it further enacted, ETC.. That
the same company are hereby granted
e exclusive right and privilege to build.
instruct establish and maintain plank,
ell or railroad from the terminus Of said
Idge on the eastern bank of Red river to da
q across the Red Chute in BOssier parish.
d to the hills or high lands by such route
shall be deemed most advantageous by tn
directors of said company, and that the A
ne company shall be allowed and are tn
reby empowered to charge and collect o of
passing over said road tolls at such mi
es as the directors shall prescribe; and tn
same right and privileges granted by te'
section shall be for the same term OF
ars as has already been granted in this
!, TO wit: the term Of thirty years
'Ec. y. BE 1t further enacted, etc, That
property OF the said bridge and road
npany shall be exempt from State and i
ncipal taxation for the full period of its =
.rter, and IN consideration therefor the {
company agrees to pay into the treas
OF thd Charity Hospital at Shreveport
sum of one hundred dollars, to be paid
hin fifteen days from January l IN each
r, for each and every year during its
% OF incorporation.
&c, 10. Be il further enoo+a5 o+o Tbo4