New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-04-28

sistent with laws of this act; that within
one week of each election of directors they
shall organize ANA proceed to business; al
officers of the company, except the presi
dent. shall! be subject to removal by the
board OF directors. The board Of directors
shall consist of five stockholders, to be
elected as above; the board of directors
shall fix the salary or wages of all EN-.
ployes and officers of the company; the
president shall never have q salary of over
five hundred dollars per year, and the
directors shall not be paid for their services
as directors, but either the president or any
director may be employed to do any other
service for the company as may be paid
therefor.
SEC s. Be it further enacted, etc., That
within ten days after the organization of
the board of directors OF this company
books for the subscription of stock to this
company shall be opened at the dOmicile of
this company, and shall be kept open at
the office thereof for such length of time as
may be prescribed by the board of direc
tors, and the board of directors shall have
the right to open and close such books Of
subscription at pleasure until the whole
amount of stock shall be subscribed. Each
share of stock shall entitle the holder
shall be voted until the installments due
therein at the time of offering to vote shall
be paid up.
SEC 7. Be it further enacted, etc, That
the board of directors shall have the right
to pay all expenses of this company BY
stock to be issued and paid to any person
having claim against the same. on such
terms as they may agree on, and to contract
for the building of any bridge, or the procur-
ing of materials therefor. or for any service
for said company, payable in stock; and
IlrnCfnra
to mortgage or pledge any property they
may own, or to pledge the income, tolls or
revenues OF any or all their bridges for the
construction or repair thereof, or tor ma
terias or labor thereof; and said board of
directors are also hereby authorized to issue
bonds OF the company in such form or
amounts, and with such rates of interest, as
may seem proper to them to assist in the
construction or repair of any bridge author
mortgage Of the bridge or bridges, or any
property owned by the company, and to do
any and all acts any corporation may do.
SEC. 8. Re it further enacted, ETC., That
any parish shall have the right to take
stock in this company, and that the police
jury of any parish shall have the right,
through the president Of the same, to make
the subscription authorized by the police
Jury, and to pay for such stock in the bonds
VI 6lcu pdTl5u, VI 6uCu aiuOuuto duu udV'
ing such time to mature and bearing such
rate OF interest, payable ut such time as
may be designated, as may be agreed on
between the board of directors and the
police jury Of any parish.
SEC. 9. Be it further enacted, ETC., That
as soon as any such bridge as is authorized
by this act shall be completed and opened
for use, which shall be notified to the police
juries of the parishes in which it may be
located, all ferries or other bridges within
five miles of the bridge shall not be allowed
to charge any toll 80 long as it is kept open
and is fit and safe for use. Any person
violating the provisions of this section
shall, on conviction thereof, be fined in a
sum not less than fifty dollars for every
otfense. and be liable to said company in
sum of fifty dollars for each offense, to be
by this company before any court
of competent jurisdiction.
(Signed) CHARLES w. LOWELL,
Speaker OF the House of Representatives.
(Signed) G.. G. ANTOINE,
Lieutenant Governor and President of the
Senate.
A true copy:
p. &. DEsLONDE,
Secretary of State.