The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-11-16


number Uf shares stitScribs8 shall be re-
duced from the largest subscription so as
not to dirnish the number ofshs1Ss OF any
subscriber, while another remains with a
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 nave been subscribe
ed.
9Th. In case Of failure on the part Of any
subscriber TO pay the instailments on his
stock. al freq CURED. the Board Of Directors,
shall have the option, after thirty days
written notice to the detaulter. Of FORGETTING
the stock. and selling it 10. the benefit OF
said stockholdcr, or of compelling by suit
the payment Of such enstallment aid no
stakeholder shall be premitteato vote while
in default
10th. All meetings Of Stockholders called
for the purpose Of increasing or diminish.
ing the capita! stock of the company or tor
any of the purposes enumerated in the fifth
section of the act Of the Legislature Of
Louisiana entitled I'm act for the organi.a-
ton IF Corporations for ,corks Of public ins-
prorc,nent,u1 utility" shall be composed Of
persons holding in their own right. or as
agents for others at least three -tourths of
the stock of the company. in order to take
valid and binding action in the premises
at al other meetings of stockholders, and
At ali elections. a majorityoi stock shall be
represented, and in this latter case, if such
majority be not present nor represented the
meeting shall be adjourned for one wee <,
and ,hesvote OF the malorltyzof the stock
present and represented atFsnch adloHrHest'
meeting shal! biudthe company III the same
manner, as il a majority OF all the stock
were present and represented.
18th. Any vacancy in the Board of Dir
ectors, occurring during the year may be
filed bv a vote of the Board of Directors.
18th. The President and Directors of said
corporation shaI! hav. power to make and
use a common seat-to elect newspaper.
which shall be known to he Stockholders
as the official paper Of the Company. and
in which all advertisements shall appear.
and to do every thing necessary for the
constructions. repair and maintenance OF
the plank road herein before described, with
as manykrack> as they may deem necess.
ary t. Determine the line OF the road, and
the depots that may be necessary to make
aud construct all works whatever for the
proper and complete working Of the road Y
TO instruct all bridges over Manageable and
other streams, and whethe- the crossing
shall he by 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
4 ,,,tat -t,ot- Of ta 'npl.
pany; to appoint Secretary Treasurer.
Sunrentendents. Engineers. and other
off .ers or servants necessary or proper, tOr
the faithful performance, OF any duty nee
essary to the reconstruction or proper MAIN
tainance OF the said plank road; to make all
contracts for the furnishing Of material or
eouipments for the road on such credits "a
they may deem proper; 10 borrow money
for and on account of said roal in any sum
not to exceed ten thousand dollars, unless
an horized by vote of two. thirds ofthe
stoc kloIders. not to exceed that sum. and to
mortgage the said ROAD ana its appurtenan-
ces to secure the payment of the SAME to
make all contracts for she purpose OF speed
" and properly constructing said road, and
when said road or any part thereof Is llnlsh-
et. TO fix the rate OF tolls for same to make
all rule, ali regulations or bylaws neces-
sary for the proper. safe and regular tran
action of the business of the company; but
SUI n rule and regulations shall be subject
10 repeal. change amendment: or modlilca-
ton. by the stockholders at their meetings.
or bv the President an Directors in them
teryals; they may accept donations in land
or money. or such materials or labor as may
be useful to the company they snail de-
clare Sc ni-aanuaIly the dividends arIis NJ
fro n the roa after the payment OF all ex-
penses. Said dividends shat! be declared
anil M .e PAYABLE to he stock holders dur
ing the first fifteu days of December and
June OF each var they shall make at least
once in each year report IN full detail 70
the stockholders. exhiblting the expences
and profits or revenue of the road as well as
the cost durins he process OF constrl ctins
the same as well as the repairs that may De
ma le thereof they shall keep or cause to
be Kent. a regular set OF books, on which
shall be entered in regular order all business
or other transactions OF the company. which
said book Shall be o2anel to the inspection
of the stoc kholdars al the office of'he COM
pany. 4 stock book shall be kept and GER
tifcates of stocA shall be issued TO the
stockholders. and no transfer of stock shall
be binIing on the company until made on
its stoc kbook.
l3. If any subscriber for stock shall he
taxed by virtue OF any law or ordinance for
the pavn1ent Of subscription to the . snpanv
he shall have the right of reducing the
number ofhis shares by Az amount equal
to that of the tax so imposed, but this
riyht must be exercised within thirty days