New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-10-29
LAWS or THE STATE OF LOUISIANA
PUBLISHED BY AUTHORITY.
No. 95.
An ACT

issue its bonds and to build road from
Red river to and across Red Chute to the
hills, in Boesier parish, and to collect tolls
thereon, and for other purposes.
SECTION |. Be it enacted by the Senate
and House of Representatives OF the State
of Louisiana in General Assembly con
'yened, That Frank NJ. Smith, A. IL. Leon
ard, E. i. O'Kev, Charles w. Heating, S.
Peters. George w. billiard, NJ. H. Crowell,
NJ A. Walsh, ID. D. Smith, S. NJ. Thomas,
and their successors and assigns, and such
other persons as they may hereafter as8o-
ciate with themselves, be and are hereby
constituted a body corporate and polite, to
act in their corporate capacity as one per
son, and are hereby authorized, IN their cor
porate capacity, to do and perform all acts
an individual can do, to purchase, lease,
sell or exchange real or personal property,
rights or credits, as an individual can do,
and TO sue and be sued, and 20 DO all things
an incorporation can do; that service of
citation or other legal process shall be
made on the president of the company. or,
in the absence Of the president, on the sec
rotary thereof; that the domicile Of this
company is fixed in the city Of Shreveport,
in the parish of Caddo, in the State Of
Louisiana. This company shall have a seal,
and may change or alter the same at pleas
ure.
SEC Q Be it further enacted, etc, That
the name and style Of this corporation
shall be The Shreveport Bridge Com
pany," and the capital stock of this com
pany shall be five hundred thousand dol
lars, to be divided into shares Of one hun
bred dollars each, making five thousand
shares. 1t shall be competent tor the
stockholders Of this company to fix the
amount of the capital stock from time to
time, as in their judgment they may deem
"a n nil
SEC. 3. Be il further enacted, etc, That
this company shall bave 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 mag be used
for; and no other bridge shall be built
across said river within a distance OF five
miles in either direction for the period of
thirty years, reserving the right to any
railroad company to build bridges within
said limits solely for railroad purposes, but
in no way 20 be used for any of the purposes
above stipulated, except as belonging 80
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
to police such bridge, SO that no one or
thing shall be allowed to pass over the
same except in accordance to the Gegula.
lions made by the directors.
SEC. 4. Be it further enacted, eSc.a JhaS
the affairs of the company shall be con-
Quoted by a board of directors, the first
board of directors TO consist of the incor.
pOratOrs named in the first section OK This
act; in the event of che death Of any such
tho M laDan Sbo1I oOTuDnsa
the board of directors until the end Of the
term; and in the event of any of such in
COrpOrat0rs 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 filed by the selection OF
some other stockholders by the other d.
rectoTs. This board of directors shall hold
office for two years from the first Monday
of July, 1872 Thereafter the board OF Gi-
Pectors 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, 1873,
and every two years thereafter; that no
stocl1hOldep shall vote at any such election
unless the stock on which he claims 30 vote
has been owned by him at least three
months before the election, as shown by the
stock book Of the company; that each
SJOCknOiuGE suEll nave Oue vote lbI SaCu
share of stock he may own; shat any
may vote by proxy fer
directors, and that majority of votes cast
shall elect; that it shall be the duty of the
directors to advertise the election Tor dirac.
tors in ut least one newspaper in the parish
of the dOmicile OF said company, for thirty
days before the election, and TO appoint
three stockholders commissioners 10 hold
the election: a failure to hold the election.
TO, Il
ton of this corporation, but the old board
Of directors shall hold over until the next
regular election. A majority of She board
directors shall constitute a quorum for all
business. Any vacancy occurring IN she
board of directors Except in the first
board) shall be filled by the remaining
directors for that tarm; any director. after
his election, disposing of his stock so as TO
hold less than twenty shares, shall from
that time cease TO be a DIRECTOR and his
place shall be filed az above
SEC. ). Be it further enacted, etc. That
the first board Of directors of said com
paDy shall organize on or before the first
of July, 1872, and all subsequent
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
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
OF the other officers, and to
require bond, with good security, subject
to the approval of the board, from the
treasurer, and Ex the amount thereof. and
to pass all bylaws deemed necessary, not
with this act or contrary 30
awv
SEC. S. Be il further enacted. etc, That
stock certificates shall be provided, and
when issued shall be signed by tine. presi-
dent of the board Of directors and counter.
signed by the secretary and sealed with the
seal of tho 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
and such transfer shall be legal
evidence of the ownership of the stock, so
ar as the company is concerned in any
court in this State that copy, certified to
by the secretary Of this company, under the
seal of this company, of any resolution OF
he stockholders or directors, shall be eyi- |
1enGe of stock or Of any written proceeding
Kept by this company, and shall be taken
rs evidence in any court in this State.
SEC. Z Be it further enacted, etc, That
he 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 |
~ this charter, and shall fix the aggregate |
amount of the bonds to be issued, the
amount and denomination of each bond the |
line of maturity thereof, the rate Of inter !
,st they are to bear, whether coupon bonds |
" 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,