New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-09-11

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amount of the capital stock from time tC
time, as in their judgment.theY may deem
best, not to exceed one mil lion dollars.
SEC. 3. Be it further e1Ssted, etc, That
| this company shall have the exclusive
right to build, equip and maintain bridge
across the Red river, to terminate on the
east bank of Red river, opposite the city OF
Shreveport, for 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 q distance of five
miles in either direction for the period of
thirty years, reserving the right to any
railroad companyto 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, 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 a board of directors, the first
board of directors to consist of the incor-.
pnrators 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 the 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-
rectOrs. This board of directors shall hold
office for two wears from the first Monday
of July, 1872 Thereafter the board of di-
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
InG eieGslQn, a daiIHre ~ noau Gne eiGcIlon'
ton Of this corporation, bit tie old hoard
of directors shall hold over mill The newt
REGULAR election. A. majority of t6e hoard
directors shall constitute a quorum for all
business Any vacancy occurring in the
board of directors Except in the first
boardl shall be filed by the remaining
directors for that term, any director. after.
his election. disn0sinp Of his stock so as To
hold less than. twenty shares. shall from
that time cease to be a director, and his
Mace 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 subseonent
boards. within ten DAVIS after their election.
by eIecting one Of their members president,
and electing a secretary. When if becomes
necessary the board Of directors NAV elect
a treasurer and enpinepr. or any other off
GERS they NAV designate. All siIch officers
shall be removable by the hoard of direc
tors, except the president. The board of
directors shall have the. RIGHT to fix the
salary of the nrnsidnnt and the SALARY ar
Of the other officers. and to
REQUIRE bond, with GOOD securitv, subject
to the approval of the board. from the
treasurer, and fix the amount thereof, and
to pass all bylaws deemed necessary not |
with this act or contrary 10
law.
SEC. G.. Re if f,frtbar anac+a7 a+o rTbo+
stock certificates shall ha nr0vfded anJ |
when issnnd shalI ha s;~naf Nv 10 ,,r go
dan+ of +ba hoorJ nf 4a ~ ~ IS
sgnaG nv The on, S' So ~, tI
seal of the cornnanT. and q troTsfor 49,
shall he kent and no +ransfer Of stool, sboi1
he LEGAL oT binding an the connonE I'LL |
the transfer il made on tbn hnoIro Of 4ba |
comnanv, and such transfer SHAH bo Loci n.1I
EVIDENCE of the ownarsLin If tba stoc1y So
foI, os +bo oo,2, - Va Sa,o %
court in this State that a copy, certified to
by the secretary of this company, under the
seal OF this company, of any resolution of
the stockholders or directors, shall be evi-
dence of stock or Of any written proceeding
kept by this company, and shall be taken
as evidenced any court in this State
SEC. 7. Be it further enacted, ETC., That
Jhe board OF directors of this company shall !
nave the right to issue the bonds of this
company for any amount not to exceed the
whole amount of the capital stock as fixed
by this charter, and shall fix the aggregate
AMOUNT OF the bonds to be issued the
amount and denomination of each bond, the
ime of maturity thereof, the rate of inter
st they are to bear, whether coupon bonds
n not. and every other requisite to consti-
ute them legal and certain: and in order
o secure the payment of such bonds. with
he interest thereon, said directors shall
ave the right to mortgage all the property,
10Th real and personal, including the
ridge, which mortgage shall be recorded
a the office of the recorder of mortgages
Or Caddo parish, and shall not be REQUIRED
0 be reinscribed to keep it in force and eff
ect; and said board of directors shall have
be right to receive any donation or ora+,,o
y that may be given to said COMPANY. mr. {
ny other aid thereto on any such terms a. {