New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-09-03

amount of the capital stock from time tC
time, as in their judgment they may deem
best, not to exceed one million dollars.
Sec. 3. 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, tor the purpose of passing
vehicles of all kinds, animols, 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 a distance of tive
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 to be used for any OF the purposes
| above stipulated, except as belOngin ing 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-
lions 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-
porators named in the first section of this
inc0rporators the balance shall compose
the board of directors until the end of the
term; and in tho event of any of such m
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 tho 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 years from the first Monday
fully, 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
shall have one vote for each
share of stock he may own; that any
stockholder may vote by proxy for
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 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-
lion of this corporation, but the old board
IF directors shall hold over until the next
regular election. A majority of the board
directors shall constitute a quorum for all
Any vacancy occurring in the
BOARD of directors Except in the first
)Oard) shall be filled by the remaining
directors for that term; any director, after
lis election, dispOsing of his stock so as to
lold less than twenty shares, shall from
hat time cease to be director, and his
,laee shall be filed as above.
SEC. 5. Be it further enacted etc, That
he first board of directors of said COM
any shall organize on or before the first
Ionday of July 1872, and all subsequent
cards, within ten days after their election,
y eleeting one of their members president,
NO eieCting a secretary. When it becomes
ecessary the board OF directors may elect
treasurer and engineer, or any other Off
ers they may designate, All such officers
hall be removable by the board of direc-
1rs, except the president. The board of
lrectors shall have the right to fix the
elary OF the president, and the salary or
)mpensation of the other officers, and to
equire bond, with good security, subject
the approval Of the board, from the
and fix the amount thereof, and
} pass all bylaws deemed necessary, not
consistent with this act or contrary to
w.
SEC. g. Be it further enacted, ETC., That
0ck certificates shall be provided and
hen issued, shall be signed by the presi-
emit OF the board of directors and counter
gned by the secretary and sealed with the
al OF the company; and transfer book
lait be kept and no transfer of stock shall
legal or binding on the company until
lie transfer is made on the books of the
'mpany and such transfer shall be legal
'idence of the ownership of the stock. 40
+ as the company is concerned, in any
ult IN this State; thapa copy, certified to
the secretary OF this company, under the
al OF TINS company, OF any resolution of
e stockholders or directors, shall be evil
nee OF stock or OF any written proceeding
P0 by TINS company, ana shall be taken
evidence IN any court in this State,
SEC. I. Be it further enacted, etc. That
e board OF directors of this company shall
We the right to issue the bonds Of this
mpany Tor any amount not to exceed the
lote amount of the capital stock. as fixed
this charter, and shall fix the aggregate
l0unt of the bonds to be issued. fine
lount ana denomination of each bond, the
ne OF maturity thereof, the rate of inter
they are to bear, whether coupon bonds
not, and every other requisite TO consti-
-e them legal anG certain: and in order
secure the payment of such bonds. with
interest thereon, said directors shall
We the right to mortgage all the property.
IN real and PERSONAL including the
So 4ISA mortgage sGaIl De recorded
1 q.5 ounce OF the recorder of mortgages
Na0ao parish, and shall not be reGniTed
De transcribed to keep it in force and eff
l; ana SAID board Of directors shall have
right to receive any donation or gratu
That may be given to said company, or
:. 06her AID thereto on any such terms as
y De agreed on between them and other
ties.
&c g. Be it further enacted, etc. That
the same company are hereby granted
exclusive right and privilege to build.
in1CFuet' establish and maintain plank.
! OF rallroad from the terminus of said
lg6 on the eastern bank of Red river To
across the Red Chute in Booster aarisI
to the hills or high lands by such ronta
shall be deemed most advantapeons no
directors of said company, and that the
ie9 company shall be allowed and are
9oy empowered to charge and collect
passing over said road, tolls AT sncI
IS as the directors shall prescribe: and
same right and privileges granted bv
section shall be for the same term Of
rs as has already been granted in this
70 wit; the term of thirty years.
&C. y, Be it further enacted. etc That
property OF the said bridge and road
pahy shall be Zempt from State and
IclpaI taxation for the full period of it's
stef, and in consideration therefor the
company agrees to pay into the treas
OF thd Charity Hospital at Shrevenort
sum of one hundred dollars, to be maid
I'm fifteen days from January in each
) tor each and every year during fts
! of incorporation. A''
&C. 10. Be it further enacted. etc That
company shall have the right nv its