New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-03


as may be conferred On the president
HE said board Of directors stall have
! power to elect a treasurer, clerk. ana en-
giaeer, and such either officers as in theiI
I opinion tine board or road may require; h1
K TIE amount of their compensation, andre
'Guire such security as they may deem
1 proper and enact gules aud regulations Il
govern them in their various duties, arc
4 hGve the right to remove any officer, except
/ the president, without showing cause. SaiC
1 beard of directors shGE continue in office
1 until their successors are elected and quail
/ fed. An annual election for directors shall
1 be held in the month of April in each yeac
| aJthe dOmicile of the company. Thirty days
/ Bublc notice of the election, and the day Oh
1 whiUh the same is to be held, shall be given
/ previous to said election. Alter the tiUs:
! election, all shares Of stock must be owned
and possessed by each voter in his own
! right, or those OF his principal, and if b3
! proxy it must he held sixty days before
| VOted on. Votes may be given in person o.
! by proxy, and each share shall be entitled
! to one vote.
SGC. 4. Be it further enacted, etc, That
the 6Oard of directors may make such rules,
regulations and by laws for the government
| of It's officers and the management Of its
| business as they may deem eXpeGient.
! 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
! tie day in tho month of April, and give
notice thereof! for the hol3ing OF annual
meetings Of stockholders for the election of
| directors; may fill vacancies that may
occur ia the board. and may, in the name
aud on Behalf Of said company, make such
| contracts, enter into such engagements,
and do and perform all such acts as they,
or ln&.Orlty of them, may deem proper,
| convenient or necessary for the accom-
plishment Of the object for which said
company IL created.
SEC. ). 3e it further enacted, etc, That
the apital stock Of said company, its fix
lures, workshops, warehouses, depot
grounds, vehicles OF transportation, and all
other appurtenanees thereto attached shall
be exempt tspm taxation for ten Years from
and alter the date Of its completion, and
while i'll course Of cunst rUctiOn; and that its
officers, engineers clerks and agents shall
be exempt from jury and militia duty, eX
cept in case Ot invasion or Instruction
Provided, however, that after the eXemp-
ton herein granted shall cease ali State
taxes levied upon said road and its prop
erty shall be paid into and constitute part
OF the sinking fund, hereinafter provided
for, IN the State treasury for redemption oi
the first mortgage bOuds of said company;
and all parish taxes thereon shall be paIu
into and constitute part Of the sinking fund
for the redemption Uf 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 Eidalia, Red River and Texas Railroad
Company be and the same are hereby au-
thOTIZed and empowered to enter upon,
purchase, take and hold any lands that
may he necessary and proper for the con
struction 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 Ie-
quived by said company for excavation or
cmOankment, or for turnCuts, depots, sta
tionhOuses. docks, wharves, or other pur
poses il 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, anu through which said railroad
may pass, to the distance Of two hundred
yards OH each side Of the centre line OF said
railroad ; aud said company is hereby au-
thOrlZed to enter upon any lands owned by
the State, ant adjacent to the line of said
cOmpany's 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 il further enacted, etc, That
after the passage OF this act, any of the III
curpOratofs named therein, or any sub
scrlber to the capital stock Of said railroad
company, may solicit and accept, for the
benefit Uf this company, by himself or
agent, any donation. ur gift of the right ot
way through lands Of pIOprictors 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, aud with
out any formal acceptance thereof by the
company or its authorized agents.
SEC. s. BE it further enacted, etc, That
the incOrpOratOrs herein named, or a ma
jority thereof, are hereby authorized to re-
ceive in payment tOr subscription to the
capital stock Of said railroad company, iu-
stead of a payment in currency or money,
dqti0H 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 81 offered in
dGti0B e1j Placement, he 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 9. Be it further enacted. etc, That
in case any land through which said com
pany may conclude to construct its railway
belongs to the estate of any deceased per
son, it may then contract therefor with the
executors OF administrators Of such; or in
case such lands belong to a minor or person
nan comPoS mc'l'iS then with bis guardian
or tutor; or in case said lands be held hv
trustees of school sections or other trustees
Of estates, then with such trustees, guaIdi-
ans or tutors; and such trustees, executors,
administrators and guardians are hereby
declared competent for such estates per
sens or minors, to contract with sail com
paRv to use, occupy and possess the Lands
OF such persons, estates, minors or trustees,
50 far as may be useful and necessary for
the purpose OfSaiG railroad. and the act aud
deed Of each executor, administrator, Cura-
tor tutor, guardian or trustee in relation
thereto shall pass title in such lands, in
the same manner as if the said deed or act
were made or done by legal owner of full
age and sound mind; and such executors,
C1ratoTs. 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 arbiIratOrs, |
mutually chosen, whose award, or that of |
their umpire, in case Of disagreement, shall |
vest title according TO its terms and lie 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 |
.0rnora1ed cities OF vilages NAV choose to