The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-10-20

number Of. shores SUBSCRIBED shall be re.
ducel from the largest subscription 80 as
not to diuiish the number Of shares Of any
subscriber while another remains with ?
larger number Of shares. II there be any
deficiency in the amount Of capital subscribe
ed the said subscription books may be re.
opened and closed from time to time, until
the whole capital shall have been subscribe
ed. f&0ftI ae N8s II Il
9Th. In case Of failure on the part Of any
subscriber to pay the installments on his
stock. as required, the Board Of Directors,
shall have the option. after thirty days
written notice to the defaulter. Of forfeiting
the stock. and selling it tor the benefit Of
said stockhodcr. or Of compelling hy suit
the payment Of such enstallment and no
stakeholder shall be PERMITTED to vote " lille
in default .aa l
10th. All meetings Of Stoc kholders called
for the purpose of increasing or diminish
| ing the capital stock Of the company or tor
any of the purposes e. rmera'ed in the fifth
section OF the act Of the Legislature Of
Louisiana entitled I'm art for the organi:a.
ton of corporations for rorks Of public inn
prouen,entand utility" shall be compo-ed Of
persons holdin. in their own right. or as
agents for others at least three.tonrths OF
the stock Of the company. in order to take
valid and binding action in the premises.
at other meetings Of stockholders. ard
At all elections. majority of stock shall be
represented. and in this late case. If ,uch
majority be not pre- .ent nor represented the
meeting shall be adjourned for one week.
and the vote Of the majority Of the stock
p,eseh; and represented at such adjourned
meeting sha bind the company In the same
, nla1ne-. as if majority OF all the stock
, were present AMI represented.
18th. Any vacancy in the Board of Dir
pctors, occurring Outing the year may be
filed BY vote Of the Board of Directors.
18th. The President and Directors Of said
corporation shall have power 10 make and
use a common seal-to elect q newspaper
which shall he known to he Stock holders
as the Official paper Of the Company. and
in which all advertisements shall appear.
and to do every thing necessary for the
construction. repair. and naintariance q
the plank road herein beiofo described, with
as miany tra:k. a. they may deem nece>s-
ary To- determine the line Of the road. an,
thu depots tina. may he necessary to make
proper anl complete woI king Of the road
to construct all bridges over manageable ant
o.her streams. and whethe- the crossln.
shall be nv bridge or ferry to contract
specially for work. labor Or materials to be
furnished to the company. and to agree
whether the whole or ANY part thereof shall
oe PAYABLE il the capital stock Of the Conn.,
pany; to appoint Secretary Treasurer.
inoreintendents. Engineers. and othe'
,.fi .ers or servants necessary or prOper. fO'
H.. faithful performance. OF any duty nee
e,sary 10 the construction or propet MAN.
tainancs of the said plank road to make al.
contracts for the furiIishin. of material or
a ripments fnr the road OF such credits a.
hey may deem proper; o borrow none.
:,r and on account of said roa,l in any sum
ut to exceed ten thousand dollars. unless
m hnr;zed bv vote vi two thlIds OF tie
stockholders. not to exceed that "a m. and r.
n ,rtyase the said roa andts appurfenan-
.,,s to secure tho payment Of the same to
Ike a contracts for the purpose OF speel-
w ana pr ,per!v construcih. sa Il road. and
~ zen said road or any part ther o is finish
e |, to fix the rat. OF to i for same TO make
all rule al! s.,iatiols or bylaws neces.
sarv f,r the proper. safe and regular tran
acti in Of the business Of the company; bat
s,,.1 rule and regulations shall be >"i je'.
10 repeal. change. amendment. or niodItca-
tor. by the stockholders at their meetings.
or by the President an Directors in them.
tervals; they may accept donations in land
or money. or -,Ich materials OF labor as may
be usefid to the company they shall de-
clare Sc ni-annua!y the dividends SrIis NJ
from the roa after the payment o! all ex-
penseS. SAID dividends shall he declared
and MI le payable TO he stockholders dur
ing the first fifteen DAYS of December and
June Of ea n var they shall make at least
olce in each year d report IN full detail to
the stockholders, exhibiting the expences
and profit. or revenue OF the road as well a,
the cost dtrin, he process Of constr citing
the same as we'll as the repairs that may be
male the reof; they shall keep or cause TO
be kent, a re ~ az set OF books. On which !
shall he entered in regular order all business
or otte, transactions of the company. which !
sail book shall he opened to The inspection
of the stockholders at the Office ofthe COM
pany. 4 stock book shall be kept and Ger ;
fificates Of STOCK shall be issued to the !
stoc holders, and M transfer Of stock shall
be binding on the company until made on
its stockbook.
10. If any subscriber for stock shall b~
taxed by virtue OF any law or ordinance fot
the payment Of subscrirt on to the Company
he shall have the risht of reducing the
number of his shares ny an an,,r1t e1 aI
to that Of tho tax So im?osed. bnt this
right must he exercised within thirty days
from the date Of the law or ordinance after