The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-11-05

not to dimish 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 subsc rib
ed, the said subscription books may be re-
opened and closed from time to time, unit
the whole capital shall have been subscrib
ed.
Sth. In case of failure on the part of any
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 defaulter, of FORGETTING
the stock, and selling it tor the benefit o
said stakeholder, or Of compelling by sui
the payment of such enstallment and nc
stakeholder shall be PERMITTED to vote while
in default
10th. All meetings of Stockholders called
for the purpose of increasing or diminish
ing the capital stock of the company or fol
any of the purposes enumerated in the fifth
section of the act of the Legislature of
Louisiana entitled ".an act for the organi=a-
tion of corporations for ,vorks Of public i'm
prouementand mtaity,o shall be composed Of
persons holding in their own right, or as
agents for others at least three fourths of
the stock of the company, in order to take
valid and binding action in the premises,
~ all other meetings of stockholders, and
At all elections, 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 in the same
manner, as if majority Of all the stock
were present and represented.
18th. Any vacancy in the Board of Dir
ectors, occurring during the year may be
filled by vote of the Board of Directors.
18th. The President and Directors of said
shall have power to make and
use common seal-to elect a newspaper,
which shall be known to the Stockholders
as the official paper of the Company, and
in which all advertisements shall appear
and to do every thing necessary for the
repair, and maintenance of
the plank road herein before described, with
as many tracks as they may deem necess-
Try to determine the line Of the road, and
he depots that may be necessary to make
md construct all works whatever for the
proper and complete working of the road
o construct all bridges over manageable and
,ther streams, and whether the crossing
hall be by bridge or ferry; to contract
pecially for work, labor or materials to be |
furnished to the company, and to agree
whether the whole or any part thereof shall |
Ne payable in the capital stock ofthe Com |
amy; to appoint a Secretary. Treasurer,
Engineers, and other !
Ulcers or servants necessary or proper, for |
he faithful performance, of any duty nec-
ssarv to the construction or proper main
ainance of the said plank road to make all
ontracts for the furnishing of material or
quipments for the road on such credits as
hey may deem proper TO borrow money
Or and on account of said road in any sum
OF to exceed ten thousand dollars, unless
uthorized by vote of two thirds of the
tockholders, not to exceed that sum, and to
lortgage the said road and its appurtenan-
es to secure the payment of the same to
lake all contracts for the purpose of speed
= and properly constructing said road, and
'hen said road or any part thereof is finish
1, to fix the rate of tolls for same to make
II rules and regulations or bylaws neces-
arY for the proper. safe and regular tram
ction of the business of the company; but
lch rule and regulations shall be subject
, repeal, change. amendment, or moditica-
on, by the stockholders at their meetings,
r by the President and Directors in them
rivals; they may accept donations in land
money, or such materials OF labor as may
q useful to the company they shall de-
are semi-annually the dividends arising
ON the road after the payment Of all ex-
,nses Said dividends shall be declared
I'd made payable to the stockholders dur
g the first fifteen days of December and ,
Inc of each year they shall make at least
ice in each year report in full detail to
e stockholders, exhibiting the expences
ID profits or revenue of the road as well as
e cost during the process of constru citing
e same as well as the repairs that may be I
ade thereof; they shall keep or cause to 1
kept, regular set of books, on which
all be entered in regular order all business
other transactions of the company, which
id book shall be opened to the inspection
the stockholders at the Office ofthe COM
n.y. A stock book shall be kept and GER ]
icates of STOCK shall be issued to the
and no transfer of stock shall
binding on the company until made on Y
stockbOok.
10. If any subscriber for stock shall be
sed by virtue OF any law or ordinance for F
2 payment of subscription to the company
shall have the right of reducing the
mber of his shares by an amount equal c
that of the tax so imposed, but this
hit must be exercised within thirty days n
m the date of the law or ordinance after
,ich term it shall not be allowed.