New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-08-23
No. 30.
AN ACT

issue It's bonds and TO bIIld a road iron
Red river to and across Red Chute 10 Uht
hills, in BOssier parish, and to collect toll
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
vened, That Frank NJ. Smith, A. II. Leon
ard, Z. p. O'Key, Charles w. Heating, S
Peters, George w. billiard, N. II. Crowell
NJ. A. Walsh, d. d. Smith, S. VI. Thomas
and their successors and assigns, and sucL
other persons as they may hereafter assO
Ciate with themselves, be and are hereby
constituted 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 SHAH 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 1T further enacted, etc, That
the name and style of this corporation
shall be "Ihe 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
dred dollars each, making five thousand
shares. 1t shall be competent for the
stockholders of this company to fix the
amount of the capital stock from time to
time, as in their judgment they may deem
best, not to exceed one million dollars.
this company shall bave the exclusive
right to build, equip and maintain a 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 builk
across said river within a distance Of fve
miles in either direction for the period of
thirty years, reserYing 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 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
70 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 board of directors, the first !
beard Of directors to consist OF the incOr,aI
pOratOrs named in the first section of this |
act; in the event of the death of any such |
iHCOrpOratOTs the balance shall compose |
. l,1 hoo Ty.F,G n II. =
term; and in tho event of any of such III |
transferring their entire inter
est in this company during their term OF |
service they shall cease to act as directors |
during the rcsiducs Of the term, and their |
place shall be filed by the selection of |
some other stockholders By the other di-
reCtOrs. This board Of directors shah hold |
office for two years from the first Monday
Of July, 1872. Thereafter the board of d. |
rectors Of this company shall consist Of
i've 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
stOckhOlder shall vote at any such election
lulcs5 the stock on which he claims to vote |
las been owned by him at least three
months before the election, as shown by the
took book of the company; that each
tOckhOlder shall have one vote for each
hdLS VI sIOCh uC uldN OWus IhGJ any |
tOckhOlder may vote by proxy for
directors, and that a majority of votes cast
hall elect; that it shall be the duty of the
directors to advertise the election for direc-
Ors in at least one newspaper in the parish
# the dOnicile of said company, for thirty
lays before the election, and to appoint
hree stockholders commissioners to hold
he election; failure to hold the election,
IS herein fixed, shall not operate dissOu-
lf this finn Int old
# directors shall hold over until the next
ocular election. A majority Of the board
directors shall constitute. quorum for all
BUSINESS. Any vacancy occurring in the
'Oard Of directors Except in the first
Oard) shall be filled by the remaining
directors for that tsrm; any director, after
is election, dispOsing Of his stock so as to
old less than twenty shares, shall from
bat time cease to be q director, and his
lace shall be filed as above
SEC. >. BE it further enacted, etc, That
he first board of directors Of said com
any shall organize on or before the first
londay Of July, 1872, and all subsequent |
cards, within ten days after their election,
y elecuDg one of their members president. |
nd electing a secretary. When ii becomes
ecessary the board OF directors may elect
treasurer and engineer, or any other Off
RS they may designate All such officers |
lall be removable by the board of direc-
RS, except the president The board of
.rectOrs shall have the right to fix the
ilary OF the president and the salary or
improvisation of the other officers. and to
qulre bond, with good security. subject
the approval of the board, from the
easurer, and fix the amount thereof, and
pass all bylaws deemed necessary. not
consistent with this act or contrary to
W.
SEC. 6, BE it further enacted, etc, That
ock certificates shall be provided, and
hen issued, shall be signed by the presi-
mt of the board of directors and counter
Encd by the secretary and sealed with the
III Of the company; and u transfer book
all be kept, andnO transfer of stock shall
legal or binding on the company until
e transfer is made on the books of the I
mpany, and such transfer shall be legal
Idence Of the ownership of the stock. so
as the company is concerned, in any
lIt IN this State; that a copy, certified TO
me secretary of this company, under the a
a oil jhis company, of any resolution of O
stockholders or directors, shall be nyi- | I
nee Oh Stock or OF any written proceeding u
pt gy Ihls company, and shall be taken | D
evidence an any court in this State. | il
SEC. I. BE It further enacted. ere. That ri
3 board of directors of this cononanv sbo5i n
We the right TO issue the bonds If +bis nj
npany Tor any amount not To pxcead +ba ! /,
ole amount of the capital stock. ms fiyed 81
this charter and shall tx the arrrara+e. a.
cunt of the bonds to be issged The In
cunt and denomination of each bond Tho r
e Of maturity thereof the rate Of intfr- h.
they are to bear whether coupon bonds I.
lOt, and every other requisite to con,+i- n,
? them legal and certain; and in order Il.
ecure the payment of such bonds. with
interest thereon, said directors shall Sr
e the right to mortgage al the property,
b real aud personal, including tie Il
ge, which mortgage shall be recorded