New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-09-06


stockholders of this company to fix the
amount of the capital stock from time t
time, as IN their Judgment they may deem
best not to exceed one million dollars.
SEC. B. Be it further enacted, 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 bridge may 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
I 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-
duc1ed b. board of directors, the first
porators named in the first section of this
act: in the event OF the death of any such
inc0rpOrators 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 filed by the selection of
some other stockholders by the other di-
rectoTs. This board of directors shall hold
office for two years from the first Monday
of July, 1872. Thereafter the board of d.
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 majority of votes cast
shall elect; that it shall be the duty of the
directors to advertise the election for direc-
tors IN al 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; a failure to hold the election, |
as herein fixed, shall not operate dissolu- |
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. Amy vacancy occurring in the |
Sard of directors Except in the first |
99??rdl shall be filed by the remaining |
~ ~ tors for that tsrm; any director, after |
MS Il9 ftion, disposing of his stock so as to
49, rs than twenty shares, shall from |
L9at tin, cease to be a director and his
place stl" be filled as above.
A., 81 49,. e. - it further enacted, etc. That
! Dno Icy G}9rd of directors of said com
RS%1y su"lt vganize on or before the first
h m"n95a5 ~ oily, 1872, and all subsequent
poaIus. "!slQ ten days after their election
Wy 9I aIs4!s olt of their members president
@nu eIectIlS Secretary. When it becomes
necessary the GARD Of directors NAV efacf
treasurer ah(%angineer, or any other Off
c9ls Ciey may oe1gnate, All such officers
s s oe. removal by the board of direc-
Tors TORS, except Ih9 P~sident The board of
s uIervoi IS 7 ~ n@s3 the right to fix the
% and the salary or
require bond, with good soo,,rt 'e,Ir;oot
to the approval Of the Sard frnna H.
treasurer, and fix the amOi9+ tbaroof.oI,J
to pass all bylaws deemed lacasasTT 1,nt
inconsistent with this act or contsSr ,r4t to
law. NUA"lJ "
Sec. 6. Be it further enacted, b. That
stock certificates shall be provide ~
when issued, shall be signed by the ,r .elail
dent of the board of directors and coutn%
signed by the secretary and sealed with "a
seal OF the company; and a transfer boo
shall be kept. and no transfer of stock shall
be legal or binding on the company until
the transfer is made on the books of the
company. and such transfer shall be legal
evidence OF the ownership Of the stock, SO
far as the company is concerned, in any
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 evil
denGe OF stock or OF any written proceeding
kept by this company, and shall be taken
PAS evidence in any court in this State
SEC T. Be it further enacted, etc, That |
the board OF directors of this company shall |
have the right to issue the bonds Of this |
company Tor 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 |
time OF maturity thereof, the rate of inter
est they are to bear whether coupon bonds |
or not. and every other requisite to censti-
tute them legal and certain; and in order
"
the interest thereon, said directors shall |
have the right to mortgage all the property, /
both real and personal, including the |
bridge, which mortgage shall be recorded
IN the office OF the recorder of mortgages |
for CaddO parish, and shall not be required
to be reinscribed to keep it in force and eff
feet; and said board of directors shall have
the right to receive any donation or gratu-
ty that may be given to said company, or
any other aid thereto on anv such terms ae
may be agreed on between them and other
parties
SEC. 8. Be it further enacted, etc. That
to the same. company are hereby granted
The exclusive right and privilege to build,
establish and maintain a-plank. /
shell or railroad from the terminus Of said
bridge on the eastern bank of Red river TO
and across the Red Chute in Bossier parish.
and to the HILLS or high lands by such route
as shall be deemed most advantageous by
he directors OF said company, and that the
same company shall be allowed and are
hereby empowered to charge and collect, |
or passing over said road, tolls at such 7
'ates as the directors shall prescribe; and
5he same right and privileges granted by
his section shall be for the same term OF
years as has already been granted in this
ect, TO wit; the term of thirty years.
SEC. .. BE it further. enacted ETC., That
he property of the said bridge and road
company shall be exempt from State and
taxation for the full period of it's
'harter, and in consideration therefor the
aid company agrees to pay into the treas
Try OF thd Charity Hospital at Shreveport
he sum of enc hundred dollars, to be paid
within fifteen days from January in each
ear for each and every year during its
erm of incorporation.
Sec 10. Be it further enacted, ETC., That |