Democratic banner., 1851-03-24

AN ACT to incorporate the Louisiana and
Middletown Plank OF Macadmized Road
Company.
Be It enacted By the General Assembly Of
the State Of Missouri, a. follows:
Sec. /. The stockholders Of a Company
to be formed and organized as hereinafter
prescribed, are hereby incorporated BY the
name and style of the "Louisiana and Mid
dletown Plank or Macadamized Road Conn
pany," with a capital stock Of seventy-fvs
thousand dollars, with the privilege Of in
'creasing the same to any amount not ex-
ceeding one hundred and fifty thousand dol
lars, for the purpose of constructing q PLANK
or Macadamized Road, from the city Of
Louisiana, on the Mississippi river, by the
way Of the towns Of Bowling Green and
Ashley, in Pike county. to Middlstown, in
Montgomery county, with the privileges OF
Extending the same to Danville, in Mont
gomery county, and Of making branches Of
said Road, to such other points as the direc-
tors thereof may determine; and BY that
name and style may have continued success
sion; may have and use Q common seal; may
hold real or personal estate ; to sue and be
sued; plead and be implicated; defend and
be defended in all courts and places what
~soever, and in all other respects have the
powers and privileges necessary to carry
into effect the objects Of this act.
Sec. 2. Books for subscription of stock,
in shares of fifty dollars, shall be opened on
the frs, Monday of May next, or as soon
thereafter as convenient, at the city OF Lou
~isiana. under the superin,endence Of John
M. Milroy, Joseph Richardson, James Al
.exander, M. N. Allison and Edwin Draper,
or any two of them; at the town Of Bowling
Green under the superintendent Of Will
liam Watts, John G.. Campbell, T. J. C.
Fagg, James NJ. Martin, John A. Good. or
any two Of them; at the town Of Middle
town, unde: the superintendent Of Chris
topler Pearson, Milton Johnson, Joseph
.Rathbun, Clayton Alcorn and Josiah White
sides, or any two Of them, and shall con-
tinue open any number Of days the said SUI
perintendents may direct, or until the whole
amount Of stock shall be subscribed, and
re.opened at such times and places as they
may think proper.
Sec. 8. So soon IS the sum Of FIVE thou:
sand dollars Of stock shall be subscribed,
the said superintendent, or any FIVE o fthem,
shall call a meeting Of the stockholders, for
the purpose Of organizing said company, BY
three written or printed hand-b bills put up
in each Of the towns above named, giving
at leastten days notice Of the time and place
of said meeting; each share. holder shall be
entitled to ore vote for each share which
he may have in said company, and may vote
by proxy. by giving written authority for
that purpose.
Sec. 4. The officers Of said company shall
comprise a President, Secretary, Trsasur-
er, and six Directors, who shall be elected
by the stockholders at the time and place
appointed, as provided for in the third sec
ton Of this act; and who shall hold their
Offices for one year, and until their success
sors elected and qualified; and all vacan-
cies shall be filled by the Directors.
Sec. 8. The President and Directors Of
said company shall have the necessary pow
er Of transacting the business and carrying
into execution the objects and designs Of
the company, and to make such rules, by
laws, and orders as they msy think neces-
sary for the government Of the corporation,
and which may hot be contrary to any gen.
|eral law.
Sec. 6. The President and Directors of
said company, may appoint such other Off
GERS and agents as may be necessary, and
prescribe their duties, compeusations, and
%'tenures Of office.
Sec. z. The stock shall be repaid at such
times as the President and Directors shall
order; and if any stakeholder shall fail to
pay any instalment according to their or
der, for more than thirty days after public
notice given in some newspaper printed in
Pike or Montgomery county, for the pay.
ment Of the same, he shall forfeit to the com.
pany all right to said shares, and al sums
previously paid on said shares.
Sec. 8. The county courts Of Pike and
Montgomery counties, are hereby suthor-
lied whenever the Judges thereof shall
deem it expedient to do so. 10 subscribe
stock on the part Of said counties to the
amount Of the three per cent. fund,-the
amount of the distributive share of said
county in the proceeds Of the 500 [000]
acres Of land granted to this State BY the
act Of Congress, approved September 9TH.
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