New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-12-06
No. %.
AN ACT

To INCORPORATE the Shreveport Bridge Com
pany, and to authorize the company to
issue its bonds and to build road from
Red river to and across Red Chute to the
hills, in BOssier parish, and to collect tolls
thereon, and for other purposes.
SECTION. l. 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, E. P. OKey, Charles w. Heating, 5.
Peters George w. billiard, NJ. Il. CroweIl,
NJ. A. Walsh, D. D. Smith, S. NJ. Thomas,
and their successors and assigns, and such
other persons as they may hereafter assoc
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
retary 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 SEAL
and may change or alter the same at pleas
ure.
SEC. 2. 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
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.
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, 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 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 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 NAV 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-
dncted by a board Of directors, the first
board of directors to consist of the incor-
DoratOrs named in the first section OF this
act: in the event of the death OF any such
incorporators 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 thelr term OF
service they shall cease to act as directors
dlriIW the TpsiduGs Of the 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
of JULY, 1872 Thereafter the board OF di-
rcctOrs 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 everv 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 tor
directors, and that majority OF votes cast
shall elect: that it shall be the duty OF the
directors to advertise the election Tor dlrec-
tors in at least one newspaper IN the parish
Of the domiciIe 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 quorum for all
business. Any vacancy occurring IN the
board Of directors Except in the first
board shall be filled by the remaining
directors for that term; 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 as above
SEC. ). Be il further enacted, etc, That
the first board Of directors of said COM
pany shall organize On or before the first
Monday Of July, 1872 and all subsequent
boards within ten days after their election
by eIectng one Of their members president
and eecting secretary. When it becomes
; necessary the board of directors may elect
a treasurer and engineer, or any other otl
GERS they may designate All such officers
shall be removable by the board OF direc
tors, except the president. The board ol
directors shall have the right to tx thu
= salary OF the president, and the salary o.
compensation Of the other officers, and tt
} require a bond, with good security, subject
to the approval Of the board, from tht
treasurer, and tx the amount thereof, anC
TO pass all bylaws deemed necessary, no.
inconsistent with this act or contrary t
law
SEC. g. Be it further enacted, etc, Iha
stock certificates shall be provided, ant
when issued. shall be signed by the presl
dent of the board of directors and counter
: signed by the secretary and sealed with th'
, seal Of the company; and transfer DooL
shall he kept. and no transfer OF stock shal
| be legal or binding on the company unit
The transfer is made on the books OF tL'
: company. and such transfer shall be lega
evidence Of the ownership OF the stock, Sc
far a. The company is concerned, IN am
= coUlt iii this State; that q copy, certified t
by the secretary Of this company, under tin
sea- q this company, OF any resolution o
tue stockholders OF directors, snail be eYl
dence of stock or OF any written proceedin:
kept bv this company and shall be takel
!. as evidence in any court in this State.
SEC. 7. Be it further enacted, etc, Tia
the board of directors Of this company sRai
have the right to issue the bonds Of thI
company for any amount not to exceed tn
whole amount u the capital stock, as hEe'
by this charter. and shall tx the aggregat
amount Of TIE bonds TO be issued. tn
amount and i, nomination Of each bond, tn
time @: maturity thereof. tae rate OF inter
vsf tLtT 5re u bear. whether coupon bond
/. Or hot. and every other requisite to const
tU.e 2le1L. iega. and certain: anu III "Eot