The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-10-21

| duced from the largest subscription SO as |
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- |
cd. the said subscription books may be re-
opened and closed from time TO time, until |
the whole capital shall have been subscribe |
ed.
| sth. In case Of failure on the part OF any
subsc riber to pay the nstallments on his
stock. as required, the Board Of Directors,
shall have the option, after thirty days
written notice to the detalilter, OF torfeiting
the stock and selling it tor the benefit OF
said stockholler, or of compelling by suit
the payment Of such enstallment and no
stock holder shall be PERMITTED to vote while
! in default.
10th. All meetings Of Stockholders called
for the purpose Of increasing or diminish
ing the capital stock Of the company or tor
any of the purposes enumerated IN the NTH
section of the act Of the Legislature OF
Louisiana entitled ''.1n act for tie organ, "a
t,ou of corporations for rorks Of pnbtn i'm
pyoye n,entana utiiity,n shall be composed oil
persons holding in their own nghs. or as
agents for others at least three-fourths OF
the stock Of the company, in order TO take
valid and binding action III the premises.
at all other meetings OF stockhoiiers, ana
! At all elections, majority Of stock SHAH By
repres ented. and in this latte case, II such
majority be not present nor represented 'he
meeting shall be adjourned for one week
and the vote OF the majority OF the stock
pIese Mt and represented at such adjourned
meeting shall bind the company in the same
manner as if majority of all the stock
were present and represented.
! tn. Any vacancy in the Board of Dir
ectors, occurring during the year may be
filed by 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 newspaper |
which Shall be known to he Stockholders
as the official paper Of the Company. and |
j in which all advertisements shall appear. |
and to do every thing necessary for the |
constructions repair and maintainance Of |
| the plank road herein before described with |
| as many tracks as they may deem necess
ary: to determine the line Of the road, and
| the depots that may be necessary to make
and construct all works whatever for the
proper and complete working Of the road 4
other streams. and whether the crossing
| shall be 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
be payable in the capital stock Of the Com
paay; to appoint Secretary Treasurer.
Supreiptendents. Engineers, and othe
ofii,ers or servants necessary or proper, to
the faithtil performance. Of any duty nee
| .~sarv 10 The construction or proper nam
fainance Of the said plank road to make al
contracts for the furnishing OF material O
equipments for the road Oil such credits "a
they may deem proper; 10 borrow money
for and on account oil said road in any sum
not to exceed ten thousand dollars, unless
authorized 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 O. the same to
make all contracts for the purpose OF speed
w and properly constructing SAID road, and
when said road or any part thereof is finish
ed, 10 tx the rate Of tolls for same TO make
all rules AMI regulations or bylaws heces-
,ary for the proper. safe and regular tran
action of the business of the company; but
such rule and regulations shall be snbJeci
10 repeal. change amendment, or modIiica-
ton. BY the stockholders at their meetings.
or by the President and Directors in them
tervas; they may accept donations in land
or money. or such materials OF labor as may
be useful to the company they shall de-
clare semi ANNUALLY the dividends arising
from the roai af1rI the payment OF all cx-
penses Said dividends shall be declared
and made payable to he stockholders dur
ing the first iiften days of December and
June of each year they shall make at least
once in each year report IN full detail to
the stockholders exhibiting the expencea
and profits or revenue of the road as well as
the cost during the process Of constru citing
the same as we'll as the repairs that may he
made thereof t,ey shall keep or cause 70
be kent. regular set Of books, on which
shall be entered in regular order all business
or other transactions OF the company, winch
said book shall be opened to the inspection
of the stockholders at the Office ofthe COM
pany. A stock book shall be kept and GER
tificates Of stock shall be issued to the
stockholders, and no transfer OF stock Shall
be binding on the company until made OIL
its stockbook.
10. IF any subscriber for stock shall be
taxed by virtue OF any law or ordinance for
the payment of subscription to the company
he shall have the right of reducing the
number ofhs shares by an amount equal {
tothat oil the tax so imposed, but this
right must be exercised within thirty days !
from the date of the law or ordinance after
which term it shall not be allowed.
14th An annual meeting of the stockhol- {