The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-11-24


subscriber, while another remains with a
larger number of shares. If 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 subscrib
ed.
sth. 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 deauiter, of forleiting
the stock. and selling it Tor the benefit Of
said stakeholder, or Of compelling by suit
the payment OF such ensta!lnent and no
stakeholder shall be permitted to vote while
in default
10Th, All meetings of Stockholders called
ing the capital stock Of the company or for
any of the purposes enumerated in the fifth
section of the actfof the Legislature Of
Louisiana entitled s'.4n act for the organiea-
ton Of corporations for acorks Of pu6iic I'M
(prouementand ntiiiy,o shall be composed OF
fpeTsons holding in their own right, or as
agents for others at eaot e-fourths 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, majority of stock shall be
represented, and in this latte case, if such
majority be not prcsent'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 a majority Of all the stock |
were present and represented.
18th. Any vacancy in the Board Of Dir
|ertors, occurring during the year may be |
filled bv vote OF the Board Of Directors.
18th. The President and Directors Of said |
corporation shall have power to make and |
use a common seal--to elect a newspaper,
which shall be known to the Stockholders
as the official paper of the COMPANY, and t
in which all advertisements shall appear.
and to do every thing necessary for The |
construction repair, and maintainancc Of
the plank road herein before described, with !,
as many tracks as they may deem uecess-
ary: to determine tie line of the road and
the depots that may be necessary, to make
and construct ali works whatever for the
proper and complete working oi fire read
10 construct ali bridges over navagabie and
o. her screams. and Whether The crossing
shall :. BY bridge or ferry; 90 contract
specially lor work, labor or material, to be
furnished to the company, and 10 agree
whether the whole or any part thereof shall
be parable in the capital stock otthe Com
pany: 70 appoint a Secretary Treasurer
Supreiutendcuis, In 5iaeef,, and c.Ecf
officer or servants necessary or proper, Tor
the faithful performance, OF any duty nee
cssarv to the construction or proper mani
tainance OF the sad plank road 10 make al
contracts for the furnishing Of material Or
cguipments for the road on such credits as
they may deem proper; 20 borrow money
for and on account Of said road III any sum
not to exceed ten thousand dollars, unless
au' horzed by vote of two thirds of the
Stockholders 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 otspeed |
w and properly constructing SAID road. and |
when said road or any part thereof Is finish |
ell. TO fix the rate of tolls for same to make |
all rules and regulations or bylaws neccs-
sary for the proper, safe and regular tran
action OF the business Of the company: hGt
such rule and regulations shall he beet
to repeal. change. amendment, or maditica-
ton. by the stockholders At thcir meetings,
or by the President and Directors IN them
tervals: they may accept donations in land
or money. Or such materials of labor as may
be useful 10 the cotqWY they snail de-
clare semi-anuua'iy the dividends arising
from the roa al5fr ;ae payment OF all cx-
penses. SAID dividends sHa.! be declared
and made pr Yabe % Inc stockholders dur