The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-10-12
the capital bo not 80 increased, then the
number Of shares subscribed shall be re-

/ the capital DO not SO increased, tncn INC
| number Of shares subscribed shall be re-
duced FROM the largest subscription so as
not 10 disrish the number Of shares OF any
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 subscribe
cd.
I sth. In case of failure on the part Of any
subscriber 10 pay the ins'allmeits on his
stock, as required, the Board Of Directors,
shall have the option, after thirty days
written notice to the deiaulter. of FORGETTING
the stock and selling il tor the benefit OF
said stakeholder, or Of compelling by suit
the payment Of such ,enstallment and no
stakeholder shall be PERMITTED to vote while
in default.
10th. All meetings of Stoc khodeyy called
for the purpose of increasing or dak'nsh.
ing the capital stock Of the company or Tor
any of the purposes enumerated IN the fifth
section OF the act Of the Legislature of
Louisiana entitled (" IN art for The orgaai.a-
ton Of corporations for corks Of pp6hc i'm
prope,nentand utiiay," shall be composed Of
persons holding in their own right or as
agents for others al least threc-ionrths oil
the stock Of the company. in order to take
valid and binding action in the prem e..
at all other meetings of stockholders, and
At all elections, a majority of stock hall BE-
represented and in this latte case. If such
majority be not present nor represented the
meeting shall be adjourned for one week.
! 4 .Ttt ..I 81, L
present and represented al snch adjourned
meeting shall bind the company in the same
manne,. a. if majority Of all the stock
were present and represented.
18th. Any vacancy in the Board Of Dir
rctors occurring during tbe year may be-
filled by a 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 a newspaper.
which shall be known to he Stoc kho'dcrt
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 maintenance OF
the plank road herein before described with
as many tracks as they may deem uecess-
ary Ia determine the line Of the road. and
and construct all works whatever for ihe
proper aud complete working Of the read
| 10 con, truct all bridges over nava.ahle ana
other streams. and whethe- the crossIu1
shall be by bridge or ferry 10 con.rWl
specially for work, labor or materials to be-
furnished to the company. aud 10 agree
whether the whole or any part thereof shaii
be payable in the capital stock Of the Com
pany; to appoint a Secretary, Treasurer
Supreintendents. Engineers. and other
Officers or servants necessary or proper. ior
the faithful performance, OF any duty nee
e~sary 10 the construction or proper NAM
taiuance OF the said plank road; 10 make al!
contracts for the turnishin. Of material OF
equipments for the road on sucn credits
they may deem proper; 20 borrow money
for and on account of said roai in any sum
not to exceed ten thousand dollars, unless
aa' hnrized by vote OF two thlids g. the
khol,iers not TO exceed that - m. and 70
mortgage the said road and is appurtenan
ces to secure the payment Of the same ; TO
make all contracts for the purpose OF speed
" and properly constructing SAID road. and
when said road or any part thereof Is finish
Ell. to fix the rate of tolls for same 20 make
all rules and regulations or bylaws nrces-
sary for the proper. safe and fe-u'ar tran
action of the business OF tie company; bui
such rule and regulation hall he nhle"t
10 repeal. change. amendment, OF mudliica-
ton. by the stock ho'd"re 1T their meetings.
or by the President AMI Dlrretor IL tncln-
tervals; they may arreF' coGa'iou ~ ianf
or money. or such material ~ 'ahpr may
be useiu to the company s'er 71i af-
clare scn-alnuaily tnr d,ridrnds '.i- r4
from the roa al'ti the payrn a4 c&-
penses. SAID DIVIDEND -haH ue declare
and male payable 10 be- s'orkhe.prs dat
inr the first titten DAYS Of December and
June Of ea.i var they shall G'akrat least
once in cach year a report III iui' detail FOL
the stockholders exhb,lln. The experccs
and profits or revenue oil the road a wed
the cost during the process o. constructing
the same as we'll as the repairs that uiay he
made thereof they shall keep Of cause to
be kept. reguar set Of books, on winch
shall he entered ~ r""'l!ar order all 'il. ipres
or thei transactions ri The company. vuich
said book shall hr opened - tiic luslccilon
of the stockholders al III office 81 il," r0ni-
panv. A stock book shall be- fclt and cei-
tifcates OF stocA sha b. i..al = the
stoc kho'ders, and ~ transfer of sto.l, snail
be binding on the company aUtii uade Oh
its stockbook.
10. If any subscriber for stool shall be
taxed by virtue OF any law or ordnance for
the payment of subscription to the company
he shall have the right of reducing the
number off shares by an amount eqlaI
10 that, of the tax so imposed, bis Ills
L.. Il