New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-05-01

PUBLISHED BY AUTHORITY.
AN ACT

NO. 134.
AN ACT
To inc orporate the Shreveport and South
western Railroad Company.
SECTION l. Be it enacted by the Senate
and House Of Representatives. of the State
of Louisiana IN General Assembly con-
vened, That Benjamin Jacobs, Thomas Po-
land, N. w. Murphy, w; E. Hamilton,
James 3. Foster, w. 5. Haven, of CaddO
parish, and George Peyton, OF De Soto
parish, and all such persons as shall or
may be associated with them, aud their
successors are hereby created a body pol
itic and corporate, in fact and in law, by
the name of the Shreveport and Southwest
ern. Railroad Company, and by that name
shall have perpetual succession, and shall
be able to sue and be sued, plead and be
impleaded. defend and be defended in all
courts of law and equity, and make and
have a common seal, and the same alter at
the pleasure of the board of directors.
Said company and corporation is hereby
authorized to lay out. locate, construct,
furnish and maintain, operate and enjoy
continuous railroad and telegraph line,
with all appurtenances, namely: Begin
ming inside the corporation line OF the city
of Shreveport, in Caddo parish, thence by
the most eligible route, to be determined
BY said company, to point on the Sabine
river, at or in the vicinity of Logansport.
parish of De Soto, with the privilege Of ex-
tending their main line from the city of
Shreveport to a point on the State line be-
tween the States of Louisiana and Arkan-
sas, in the parish of Bossier, which may be
deemed most eligible to make connection
with any railroad traversing the State of
Arkansas running north or east; provided
said extension of said main line be COM
pleted within seven years from the passage
OF this act
SEC 9 Be it further enacted, etc, That
| inasmuch as the above named incOrpOratOIs
are the present directors of the Shreveport
and Southwestern Railroad Company, Or
gained by notarial act, under the general
| corporation law of this State, on the sew
! enth day OF July, A. D. 1873, at the city of
Shreveport, parish of CaddO, and the provi-
| sions Of this nOtarial charter not being ex-
plicit enough to warrant them in building
said road, it is therefore enacted that all
the rights, franchises and privileges of the
| Shreveport and Southwestern Railroad
| Company. as organized under notarial act,
! as hereinbefO mentioned, be and are here
| by incorporated and embodied in this act;
| ard this said corporation, as hereinbefOre
| mentioned, shall assume all liabilities and
| take charge of and control all privileges,
| franchises, subscriptions, donations and i'm
| munities heretofore granted to said notarial
l act as aforesaid.
SEC. 3. Be it further enacted, ETC., That
| the amount of stock to be subscribed neces-
sary to organization shall be three hundred
/ shares of stock, at one hundred dollars per
share, OF which stock not less than ten per
cent shall be paid in. The capital stock of
said company shall not be less than five
| hundred thousand dollars, and shall not
exceed, unless by vote of the majority OF
the stockholders, the sum OF three millions
| of dollars, which capital stock shall be
| divided into shares of one hundred dollars
| each, and the payment of such shares OF
| stock shall be in such manner as may be
made and provided by the board of direct
| ors of said corporations; provided. that such
| payments on said shares OF stock shall not
| exceed twenty-five per centum thereof at
any one time, nor be made Ottener than
once every sixty days.
Sec. L. Be it further enacted, ETC., That
| the shares of stock of said company shall
| be transferable in such manner as the by
laws of said corporation shall provide: that
the persons herelnbefore mentioned, or their
assigns, majority of whom shall constitute
| quorum for the transaction OF business.
SEC ). Be it further enacted, etc, That
the first meeting of the said incorporators
shall be held at the domicile of said COM
| pauv which shall be the city OF Shreve-
4
from the passage of this act, a notice of
which meeting shall be published in the
official newspaper OF CaddO parish for not
less than ten days. as said incorporators
may determine; and no other notice of said
meeting shall be requisite.
SEC. 6. Be it further enacted. etc.. That
at the first meeting of the said incorpora-
tors they shall from the purpose OF organic
ing elect president, vice president anu
seven directors, each share of stock being
entitled to one vote; the stockholders in the
original nOtarial charter as hereinbefOre
mentioned being entitled to one vote per
share in said election. All suits for said
company shall be prosecuted in the name
of the president, and all citations and
notices shall be served on the same 9th
GER OF in case of his death, absence OF
resignation, upon the vice president OF the
company.
| Sec. 7. Be it further enacted. ETC.. That
annual meetings of the stockholders OF said
| company for the election of officers and the
transaction of business shall be held at the
domicile Of the company at such time and
upon such notice as may be prescribed by
| the bylaws.
Sec. 8. Be it further enacted, etc., Thai
the right of way is hereby granted TO said
Shreveport and Southwestern Railroad
Company, and its successors, for the con
struction of a railroad and telegraph as
proposed, and the right, power and author
ty are hereby given to said corporation to
take from the public lands belonging to the
State of Louisiana, adjacent to the line Of
said road, earth, timber, stone and all othel
materials for the construction thereof. Said
right of way is granted to said railroad t.
the extent Of one hundred and fifty feet il
width on each side OF said railroad, lnclud
ing all necessary ground for workshops
switches, sidings, turntable and water
tanks.
SEC. 9. Be it further enacted, etc., That
the said Shreveport and Southwestern rail
road be and is hereby authorized to enter
upon, purchase, take and hold any lands
or premises that may be necessary for the
construction and working OF said road mo-
; exceeding $50 feet on each side OF said roao
outside OF any city or town corporation
limits, and twenty feet inside OF any
city or town limits, aud the said company
shall have the right to cut and remove
trees and other material that might by
, falling or drifting cucumber its road bed
: although being or standing more than l5'
feet from the road; and, in case the owner
! of such land or premises and the said com
pany can not agree as to the value OF tht
said property taken or to be taken for thu
use or said road, the value thereof shall OF
determined by the appraisal of three dlsin
terested commissioners, who may be ap
pointed upon application of either party
to any court of record OF thu
State of Louisiana Of competen
: Jurisdiction, and said commissioner
shall appraiss sech premises at what woult
have been the value thereof if the said roat
had not been built, and upon the return
into court of such appraisement and upor
! the payment into the same the estimated
value of the premises taken or to be takel
! for the use and benefit of the owner thereof
: the said premises shall be deemed taken .,
: | said company which shall acquire full It'll
| 70 no fOvt bp aforesaid.