The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-03-09

not to impair its usefulness to the public unnec-
essarily; or il temporarily impaired in and during
the construction Of the said railroads, the said
company shall restore the same to its former
state, or to such state that it's usefulness and
convenience to the public shall not be unneces-
sarily impaired or injured, ane the said company
shall not be required to construct draw IN any
bridge over and across any stream or bayou,
except streams nayigable by enrolled and u
| censed vessels, and when required by law.
| Seventh-To obtain, by grant or otherwise,
from any parish city village within this State,
any rights, privileges or franchises that any OF
said parishes, cities or villages, may choose to
grant in reference to the construction, mainte.
said company, it's depots, cars, locomotives ano
| its business within the limits of such or any OF
said parishes, cities and villages.
Eighth-To appropriate property according TO
existing laws.
Ninth-To cross, intercept, Join and unite its
railways, and prorate with any other railroad
heretofore or hereafter constructed in the State
of Louisiana, or any other State, at any point
upon its route and upon the ground OF such
other railroad, with the necessary tnrn-Outs,
sidings, switches and other conveyances, in
furtherahce of the objects of it's connections
|. Tenth-To purchase or lease from any railroad
company or corporation at any authorized sale,
any railroad, and the charter, franchises, prop
erty and appurtenances thereof, and maintain
and use the same as part OF the property OF
this company.
Eleventh-To borrow money or to purchase or
lease property on its own credit, for the purpose
of constructing and maintaining said railroads or
establishing continuous and connecting lines as
hereinbefore provided; and as evidence OF the in
debtedness OF said company for such loans or
the purchase or lease Of such property, to issue
it's corporate bonds or promissory notes, bea ing
interest at such rate per annum as the directory
may elect, and made payable in gold or the law
full money Of the United States at such times and
places as may be deemed most to the advantage
Of the corporations. and for securing the pay
ment of said bonds or notes, to mortgage and
pledge its railroads, it's capital stock its corpOr
ate franchises and any of it's real or personal
property, or any portion OF the same.
ARTICLE ".
BOARD OF DIRECTORS.
SEQ. /. The corporate powers Of this Compa.
ny shall be vested in Board Of Directors COM
posed of fifteen stockholders to be elected in
accordance with the bylaws of the Company,
and such officers and agents as may from time to
time be appointed by such board. No person
shall be director who is not the actual owner OF
at least ten (10) shares of the capital stock OF
said Company. Directors shall be elected an
nually, and continue in Office until others are
elected to fill their place, and shall have power to
fill vacancies in their number caused by death,
resignation or otherwise. The directors shall
Company, another Vice President, and another
Treasurer, and shall have power to make and
prescribe such bylaws and rules and regulations,
and from time TO time alter, amend ana revoke
the same az they shall see fit touching the govern
ment Of said Company, the transfer of it's stock:
the election of it's officers, the management and
disposition of it's business, property and effects,
the powers and conduct of its officers and agents,
anu all other matters which shall in any way per-
tain to the concern of the Company.
Sec. 2. All election for directors shall be by
ballot, and every stakeholder shall be entitled
to one vote in person or by proxy for each share
of stock held by him for ninety days prior to
such election.
SEC. 8. Seven Of the directors shall constitute
quorum for the transaction Of business, and
the number Of directors may be increased or
diminished by q majority vote Of stockholders in
interest at any regular meeting, provided the num-
Der shall not be less than seven nor more than
fifteen.
ARTICLE V.
STOCKHOLDERS MEETINGS.