The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-11-26

duced from the largest subscription so al
not to diminish the number of shares Of an.
subscriber, while another remains with
larger number of shares. If there be am
deficiency in The amount Of capital subscrib
ed, the said subscription books may be re-
opened and closed from time to time, unit
the whole capital shall have been subscrib
cd.
9Th. In case of failure on the part of an,
subscriber to pay the installments on hi
stock, as required, the Board of Directors
, shall have the option, after thirty day;
written notice TO the dcfaulter, of FORGETTING
the stock. and selling il Tor the benefit o
said stakeholder, or Of compelling by sui
the payment OF such enstallment and NJ
stakeholder shall be permitted to vote while
il default.
10th All meetings of Stockholders called
for the purpose Of increasing or diminish
ing the capital stock of the company or ioi
any OF the purposes enumerated in the fifth
section of the act Of the Legislature OF
Louisiana entitled ".An aei for the organi1a-
zion Interpretations for porks Of pubiic I'M
proucmentdmd utliy,0 shall be composed OF
persons holding in their own right, or as
agents for others at least three iourths OF
the stock of the company, in order to take
valid and binding action in the premises,
at all other meetings of stockholders, and
At all elections, a majority of stock shall be
represented, and in this latter case, if such
majority be not present nor represented the
meeting shall be adjourned for one week,
and the vote of the majority of the stock
present and represented at such adjourned
meeting shall bind the company inthesame
manner, as il a majority of all the stock
were present and represented.
18th Any vacancy in the Board Of Dir
ectors, occurring during the year may be
filed by vote of the Board of Directors.
18th The President and Directors Of said
corporation shall have power to make and
use common seala-to elect newspaper,
which shall be known to the Stockholders
as the official pape, of the Company, and
in which all Advertisements shall appear.
and to do every thing necessary dor the
repair, and MAINTENANCE Of
the plank road herein before described, with
as many tracks as they may deem necess-
nry TO determine the line OF the road, and
the depots that may be necessary to make
and construct all works whatever for the
proper and complete working OF the road
TO construct all bridges over Manageable ard
other streams, and whether the crossing
shall be by bridge or ferry TO contract
specially for work, labor or materials TO be
furnished 10 the company, and to agree
whether the whole OF any part thereof shall
be payable in the capital stock Of the Com
pany; 10 appoint a Secretary, Treasurer,
Engineers, and other
officers or servants necessary or proper, FOR
the faithful performance, OF any duty nee
essary TO the construction or proper man
tanance OF the said plank road 10 make all
contracts for the furnishing of material or
equipments for the road on such credits as
they may deem proper; TO borrow money
for and on account of said road in any sum
not to exceed ten thousand dollars, unless
by vote Of two thirds of the
stock holders, not to exceed that SUM, and to
mortgage the said road and its appurtenan-
ces to secure the payment of the same !; to
make all contracts for the purpose of speed
ly and properly constructing said road, and
when said road or any part thereof is finish
ed. to fix the rate Of tolls for same to make
all rules and regulations or bylaws neces-
sary for the proper, safe and regular tran
action Of the business of the company; but
such rule and regulations shall be subject
TO repeal, change. amendment. or modibca-
ton. by the stockholders at their meetings,
or BIZ the President and Directors in them
tervals; they may accept donations in land
or money, or snch materials OF labor as may
be USEFUL TO the company they shall de-
clare 1emi -annuaIiy the dividends arising
from the road after the payment OF all ex-
penses. Said dividends shall be declared
and made payable TO the stoc khoders dur
ing the first fifteen days Of December and
June of each year they shall make at least
once in each year report in full detail to
the stockholders, exhibiting the expences
and profits or revenue oft road as well as
the cost during The process of constru citing
the same as well a. the repairs that may be
made thereof they shall keep or cause to
be kept, regular set of books, on which
shall be entered in regular order all business
or other transactions Of the company, which
said book shall be opened to the inspection
Of the stockholders at the Office OF the COM
pany. A stock book shall be kept and GER
iificates of stock shall be issued to the
,toc kholders, and no transfer Of stock shall
be binding on the company until made on
its stockbook.
- If any subscriber for stock shall be
faxed by virtue OF any law or ordinance for
The payment of subscription to the company
he shall have the right of reducing the
number ofhis shares by an amount equal
to that of the tax SO imposed but This
right must be exercised within thirty days
from the date of the law or ordinance after
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