Southern sentinel. [volume] (Plaquemine, Parish of Iberville [La.]) 1848-1858, 1852-08-28

IL. The President and Directors of said Cor
poratIon shall have power to make and use a COM
mon seal, touelect a newspaper which shall be
known to the Stockholders as the official paper of
the Company, and in which all its advertisements
shall appear, and do every thing necessary for the
construction, repair and maintenance of tie road
herelnbeiore described, TO determine the line Of
the road, and the depots that may be necessary; to
make and construct all works whatsoever for the
proper construction and completion of said road.
and to purchase such slaves and lands as may be
required for the same; to construct all bridges
over naviSable and other streams and canals. and
whether SAID crossing be by ferry or bridges; to
prescribe the width and heighth of said bridges,
and the size of the proper draws, when over nayi-
gable streams, for the passage of vessels; to con-
tract specially for work, labor, or materials to be
furnished to the Company, and to agree whether
the whole or any part thereof shall be payable in
the capital stock of the Company; to appoint a
Secretary, Treasurer. Superintendent, Engineer,
Solicitor, and other officers and servants necessary
to the construction and proper maintenance of the
said Plank Road; to make all contracts for the
furnishing of the necessary equipments and sup
plies for the road on such credits as they NAV deem
proper; to borrow money for and on account of said
road, IN any sum not to exceed ten thousand dol
lars, unless authorized by a vote of two-thirds of |
The Stockholders; and to mortgage the said road
and its appurtenances to secure the payment of
the same, and shall have power to pledge or dis
pose of all or any part OF the stock notes; to make
all the arrangements necessary for the speedy and
proper construction of said road to purchase with
the funds ofthe Company, all the vehicles, teams,
and other equipments deemed by them necessary
or useful for the purposes of the Company; and
when said road has been rendered passable for the
public by its grading and the erection of bridges,
to fix the rates of toll thereon, and to collect the
same; to erect upon said road all such dwellings
and establishments for toll-gatherers as may be
necessary, and suitable gates for the detention of
persons passing over the road until the toll required
has been paid; to make all rules and regulations, |
and other bylaws deemed necessary for the proper,
safe and regular transaction of the business OF the
Company-but such rules and regulations shall be
subject to repeal, change and amendment or modi-
tication, by the Stockholders, at their meetings, or
by the President and Directors, in the intervals;
they may accept donations in land or money, or
such materials and labor as may be useful to the
Company; they should declare annually the divi-
dends, If any there be, arising from the working
of the road after the payment of all necessary eX-
penses; said dividends shall be declared and pay
able to the Stockholders within the first fifteen
days of the month of April of each year; they
shall make a re port in full detail to the Stockhold-
ers up to the first day of April 0 Teach year, of the
working of the road, and its expenses and profits,
as also a detailed statement of all contracts during
process of constructing the road and its bridges,
with an account OF the progress made they shall
or cause to be kept, a regular set of books,
in which shall be entered in the regular order of
their several dates all business or other transac-
tons of the Company, which said books shall be
open to the inspection of any Stakeholder, at the
office of the Company, during the business hours
Of the day; a stock book shall be kept, and certifi-
Gates of stock shall be issued TO the Stockholders,
and no transfer of stock shall be binding on the
Company until made on its stock book; and to {
,all a meeting of the Stockholders on the written ,
requisition OF Stockholders representing one-fith
IF the stock of the Company.
IA. An annual meeting of the Stockholders
hall be held on the third Monday OF each April, Z
o receive the annual report of the past years +
operations and business of the Company, at which I
Meeting a full statement of the financial affairs /
md other business of the Company shall be sub :
nitted by the President and Directors for exami-
lation by the Stockholders and their agents.
Is. At the expiration OF the Charter, or when :.
the dissolution of the Corporation shall rem :
lei necessary its liquidation, three Commissioner y
hall be elected by the Stockholders, whose duty
t shall be to take possession of the property of the u
Company, and conduct its business to a final liqui-
alton, on such terms and in such manner as shall
e determined by a meeting of the Stockholders,
egularly convened for that purposes; and if, at the
EXPIRATION of the present Charter, a majority of 6
he Stockholders, in number and amount, shall
esire to renew the same for a further term, the
dissenting from said renewal shall be
ound to transfer their stock to those desiring the
enewal, at its fair value, to be fixed by appraisers
nutually chosen for that purpose.
The above is a copy of the Charter of the
crosse Tete and Baton Rouge Plank Road com f.
any. p
of the Board of Commissioners. 81
Bayou Crosse Tete, June 81, 1852. au ii :