The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-10-28

, the CdpltaI De nOt 30 lHCIcdscu, SHcu ~C
number of shares subscribed shall be re-
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. 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 have been subscrib-
ed
sth. In case of failure on the part of any
subscriber TO pay the installrnents on his
stock, as required, the Board Of Directors,
shall have the option, after thirty days
written notice to the defaulter, Of FORGETTING
the stock, and selling it tor the benefit OF
said stockholder, or Of compelling by suit
the payment of such enstalIment and no
stakeholder 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 TOT
any of the purposes enumerated IN the NTH
section OF the act of the Legislature OF
Louisiana entitled ".An act for TIE orga"1sa-
ton CT corporations for ,corks Of p"o''c '"'- =
nyopene,tand utaty,n shall be composed OF
persons holding in their own rlsht, OF as
agents for others at least three. TO urths Oh
the stock of the company, in order 20 take
valid and binding action In the "'iseS;
at all other meetings of stockholders ana
At all elections, a majority OF stock snai' ..
represented, and in this latter case II sncn
majority be not present nor represented .h ~
meeting shall be adjourned for one wees
aud the vote of the majority of me: s.ooH
present and represented at such az, o'"eo
meeting shall bind the company in the "', IL
manner, as if majority OF all the sto,
were present and represented.
18th. Any vacancy in the Board of Dir
ectors, occurring during the year may be
filled by a vote of the Board Of Directors.
18th. The President and Directors of said
corporation shall have power to make and
use common seal-to elect a newspaper,
which shall be known to the Stockholders
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 70 ad herein before described, with
as many tracks as they may deem necess- |
airy to determine the line of the road, and i!
the depots that may be necessary to make |
and construct all works whatever for the |
proper and complete working of the road :: !
to construct all bridges over manageable and |
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 thereo shall
be PAYABLE in the capital stock ofthe Com |
pany; to appoint Secretary. Treasurer,
Supre nteudents, Engineers, and other !
office s or servants necessary or proper, for
the fl ithiul performance, of any duty nee !
essar 10 the construction OF proper main |
taina nee of the said plank road; to make all
contr acts for the furnishing of material or
equiv ,ments for the road or such credits as
they may deem proper; TO borrow l'oney |
for a nd on account OF SAID road in any sun
not exceed ten thousand dollars, unless !
auth, ,rized by vote of two thirds of the |
stock holders, not to exceed that sum, and to
mort gage the said road aud its appurtenan-
ces secure the payment of the same to
maxi all contracts for the purpose of speed
ly ar I'd properly constructing said road, and
whel said road or any part thereof is finish
ed, to fix the rate of tolls for same to make
all rules and regulations or bylaws neces-
sary for the proper, safe and regular tram
action of the business of the company; but
such rule and regulations shall be subject
to repeal, change, amendment, or modiGca-
ton, by the stockholders at their meetings,
or by the President and Directors in them
terva's; they may accept donations in land
Or money, or such materials or labor as may
be useful to the company they shall de-
clare semi-annualy the dividends arising
from the road after the payment of all ex-
penses. Said dividends shall be declared
md made payable to the stockholders dur
ng the first fifteen days of December and
Tune of each year they shall make at least
,nce in each year report in full detail to ,
he stockholders exhibiting the expences
md profits or revenue of the road as well as r
he cost during the process of cOnstru citing i
he same as well as the repairs that may be I
made thereof; they shall keep or cause to
re kept, regular set of books, on which
hall be entered in regular order all business +
r other transactions of the company, which
aid book shall be opened to the inspection ?
the stockholders at the Office ofthe COM
any. A stock book shall be kept and GER T
fcates of stock shall be issued to the s
,ockholders, and no transfer of stock shall
e binding on the company until made on v
s stockholm
13 If any subscriber for stock shall be
.xed by virtue OF any law or ordinance for r
lie payment of subscription to the company F
e shall have the right of reducing the
lumber ofhis shares by an amount equal 81
that of the tax so imposed, but this
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