New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-09-14

! and Tor all purposes a bridge may be use
for; and no other bridge shall be bull
across said river within distance of tiv
} miles in either direction for the period G
, thirty years, reserving the right to an
railroad company to build bridges With
said limits solely for railroad purposes, bu
in no way to be used for any of the purpose
above stipulated, except as belonging t
the actual business and operating of th
railroad; and that same company shall
have the right to charge such tolls thereon
as may be liked by the board of director
of said company, and shall have the RICH
TO police such bridge, SO that no one o.
thing shall be allowed to pass over til,
same except in accordance to the reguIa
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
board OF directors to consist of the incOr
porators 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 their term Of
service they shall cease to act as directors
| during the residues of the term, and their
place shall be filled by the selection of
! some other stock holders by the other di-
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 anv
stakeholder may vote by proxy for
directors, and that majority of votes cast
shah 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 domlcile 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. majority of the board
directors shall constitute a quorum for all
business. Any vacancy occurring in the
board Of directors Except in the first
board) shall be filed by the remaining
directors for that term any director, after
his election, disposing of his stock so as to
bold less than twenty shares, shall from
that time cease to be a director and his
place shall be filed as above.
SEC. 5. BE it 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 subseouent
boards, within ten days after their election. !
by electlng one of their members president.
and eIectlng secretary. When it becomes
necessary the board Of directors NAV elect
fTClrg i
GERS they may designate All such officers !
shall be removable by the board of direc-
tors, except the president. The board of !
directors shall have the right to fix the |
salary OF the president, and the salary or !
compensation of the other officers, and to
require a bond, with good security, subject
to the approval of the board, from the
treasurer, and fix the amount thereof, aud
10 pass all bylaws deemed necessary, not
Inconsistent with this act or contrary to
aw.
SEC 6, Be it further enacted, etc. That
'tock certificates shall be provided, and
when issued, shall be signed by the presi-
lent OF the board of directors and counter
lgned by the secretary and sealed with the
cal OF the company; and a transfer book
nail be kept, and no transfer of stock shall
e legal or binding on the company until
he transfer is made on the books of the
ompany, and such transfer shall be legal
Vldence OF the ownership of the stock, So
ar as the company is concerned, in anv
oult ID this State; that a copy, certified to I
y the secretary OF this company, under the | ,
cal OF THIS company, of any resolution of I
ne stockholders or directors shall be evil
ence OF stock or OF any written proceeding !
ept by this company and shall be taken
evidence IN any court in this State, e
SEC d. Be II. further enacted, etc, That :
ne board OF directors of this company shall {
ave the right 40 issue the bonds Of this 4
2mpany for any amount not TO exceed the t
hoe amount of the capital stock, as fixed q
tins charter and shall tx the aggregate !,
mount of thee bonds to SIC issued the n
mount and d Il niniua ion o. each bond the q
me OF maturity thereof, the rate of inter Il
t they are TO bear, whether coupon bonds
not. ana every other requisite to eOnsti- II
ie them legal and certain; and in order n
secure the payment Of such bonds, with
6 interest thereon, said directors shall 8
we the right to mortgage ali the property,
tn real and personal, including the T.
ldge, which mortgage shall be recorded
the office of the recorder of mortgages J
Caddo parish, and shall not be required !
be transcribed to keep it in force and eff.
10 and said board Of directors shall have
, right to receive any donation or gratu-
that may be given to said company, or
J other aid thereto on any such terms as rv
". be agreed on between them and other =
rites.
Sec. 8. Be it further enacted, etc. That ~
the same company are hereby granted
exclusive right and privilege to build, er;
lStruct establish and maintain plank APP
ii or railroad from the terminus of said me-
uge on the eastern bank Of Red river to "a
across the Red Chute in BOs4ier parish =
to the hills or high lands by such route
shall be deemed most advantageous by ~,
directors OF said company, and that the IL
ne company shall be allowed and are
eby empowered to charge and collect,
passing over said road, tolls at such 4
7s as the directors shall prescribe; and nil
same right and privileges granted by tIe'
section shall be for the same term OF sl9 o.
rs as has already been granted in this mar y
TO wit: the term of thirty years nal
&c. 9. Be it further enacted, etc, That fort
property of the said bridge and road OF
ipany shall be ex empt from State and owl VI
llcipal taxation for the full period of its hav
rter, and in consideration therefor the tert
company agrees to pay into the treas a act,
OF thd Charity Hospital at Shreveport IN NO
sum Of one hundred dollars, to be paid to
I'm fifteen Gays from January in each said
:, Tor each and every year during its aG T,
] of Incorporation do VI
&c. 10. Be it further enacted. etc. That
company shall have the right by its Sc
lFs, surveyors, engineers and employees, @@1e
inter- upon all lands and tenements
ugh which it may conclude to make ooo>
road, and survey as hereinbefore pro- Di
d, and lay out and construct the same. L
when such road, way or route shall Phol
through any lands belonging to the m
OF Louisiana, the said company shall ~
the right sf way, and tho land where
re said company's road shall be con
ted and for the distance of airI,tv rnds Pc
,rh side oF said roag - e,I, 7J1 touo tage