The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-09-24

and appointed to receive bubssnpticns.-
All subsequent elections shall BE- held at
Baton Rouge under the supreintendance OF
three commissioners appointed from am
ongst Che stockholders ~ the Board Of d.
rectors for the time being. Notice OF the
first election Of Directors, shall be given
fifteen dayyin advance, in at least one news
paper published in Baton Rouge, and one
published at Clinton. The fint Board q
Directors shall hold Office until the third
Monday Of January, 1854. The election
shall be annual, and each subsequent Board
shall be elected on the third Monday Of Dec
ember. A failure to elect Directors, shall
not dissolve the corporation, but the Board
in office shall continue the exercise OF it's
functions until new board can be elected:
All notice Of elections and Of meetings OF
ockholders after the first election above
provided for, shall be given by publication
thirty days in advance, in the official paper
of the company, and in one paper published
at Clinton.
7th. The following persons are hereby
appointed commissioners for the purpose OF
receiving subscriptions TO the stock OF said
corporation. Viz: Commissioners at Baton
Rouge, r. G. Morgan, S. M. Hart, H. ];
Waddill, A. S. Heron Eugene Lanoue and
W. s. Pike At Clinton, J. H. Muse. II.
H. Haynes, Henry Marston, CIV. Munday,
J. B. Smith, VIM Patterson and u. y.
Mills. The said commissioners shall have
power to appoint deputies or agents In
other places to receive subscriptions
| Three shall form quorum to do business.
The subscriptions shall be closed as soon as
the amount of Thirty Thousand Dollars
shall have been subscribed, and the COM
, missoners shall Immediately thereafter
cause this charter. with tine names Of the
subscribers to beS egistered in the office Of
| the Recorder Of Mortgages as required. by
law, and shall cause notice to be gwen
and an election for Directors held as proyid-
ed for in the 9th Article Of the charter.
sth. Immediately after the election
of the first Board of Directors the sub
scription list shall be opened for term
of three months at such places as may be
deemed advisable by the Board of Directors
and public notice shall be given thereof IN
"a newspaper published at the place where
said subscription books are opened; and the
board shall have power to appoin. agents
for receiving subscriptions. At the end Of
said three months, if the amount OF SUBJ
scriptions shaE exceed the amount Of capt.
tai required, meeting OF stoc khoiders
land subscribers shall be held to determine
whether the capital shall be increased e
the whole amount Of subscription and II
the CAPITAL be not SO increased, then the
number of shares subscribed shall be re-
duced from the largest subscription SO al
not to dimish the number Of shares OF any
subscriber, while another remains with {
larger number of shares If there be any
deficiency in the amount of capital subscrib'
ed. the said subscription books may be re.
opened and closed from time to time, unit
the whole capital shall have been subscrlb
ed
; sth. Tn case Of failure on the part OF any
subscriber to pay the installments on nj
stock. as required, the Board Of Directors
shall have the option, after thirty day
written notice to the defaulter, Of forfeitin!
the stock. and selling it Tor the benefit Q
said stakeholder, or of compelling by SUI
the payment of such enstallment and M
stakeholder shall be PERMITTED to vote Will
f in default.
: 10th. All meetings of Stockholders calle
for the purpose of increasing or diminish
ing the capital stock Of the company or TO
any of the purposes enumerated in the hit
, section of the act of the Legislature G
i Louisiana entitled An art for the organiza
q ton of corporations for ,corks Of public i'm
Drovcmentand utility" shall be composed c
4 persons holding in their own right, ~ a
agents for others at least three-tourths {
" " the saock of the company, in order to tax
a valid and binding action in the premises
n at all other meetings Of stockholders, an
4 At all elections, majority OF stock shall b
. represented, and in this latter case, II sue
majority be not present nor represented tn
v meeting Shall be adjourned for one weel
: and the vote Of the majority OF the stoc
= present and represented at such ad]o1rne
r meeting shall bind the company in the sam
. manner as If majority of all the stoc
n were present and represented.
: 18th. Any vacancy in the Board of Di
IS ectors, occurring during the year may
e filled by vote of the Board of Directors
% 18th. The President and Directors OF sa
n corporation shall have power to make al
v use common seal-to elect newspape
v which shall be known to the Stockholde
n as the official paper Of the Company, al
,e in which all advertisements shall appes
le and to do every thing necessary Tor II
d construction, repair, and maintenance
the plank road herein before described, WI
l. | 40 H. /, ~, %bo1, nav Ieonn nacpS