The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-11-21

ztSupsCiiDci, WDHSxDuOlueI TeIidluS Will q
]. larger number Of Shares. If there be any
! deficiency in the amount of ca pital subsc rib
Z ed: the said subscription books may be re-
opened and closed from time to time, until
the Whole capital shall have been subscribe
@etA In case of failure On the part of any
Subscriber to pay the instalments ON his
stock, as required. the Board of Directors,
shall have the option, after thirty days
written notice to the defaHatf, of FORGETTING
the stock. and selling it tor The benefit OF
said stakeholder, or Of compelling by suit
the payment Of such enstal!ment and no
stakeholder shall be PERMITTED to vote while
in default
10th. All meetings of Stoc kholders called
for the purpose Of increasing or diminish
ing the capital stocked the company or tor
any of the purposes enumerated in the fifth
section of the act Of the Legislature of
Louisiana entitled IN act for The organiea-
ton Ct corporations fot icorks of public in
prorementand utilnyn shall be composed OF
persons holding in their own right, or as
a rents for other%at least three to,rths OF
the STOCK OF the company, in order to take
valid ard binding action in the premises
at all other meetings of stockholders, and
| a all elections, majority OF stock shall be
represented, and in this latte, case, if such
majority be not present nor represented the
| meeting shall be adjourned for one week >,
and the vote of the majority of the stock
present and rerresented at such adjourned
meeting shall bind the company in the same
manner, as if majority Of all the stock
We're present and represented.
nth. Any vacancy in the Board Of Dir
ectors, occurring during the year may be
filed by vote of the Board of Directors.
10th 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 road herein before described, with |
as many tracks as they may deem necess-
arv to determine the line of the road, ar! !
the depo4 that may be necessary to ilake
ana construct All v1rt.s Whatever .Jr the
proper and complete working Of the road
70 construct all bridges over M yagable and
other streams, and whether the crossing
shall he by bridge or ferry; to ccutrac,
specially for work, labor or materials to be
furnished to the company, and to agree |
whether the whole or any part thereof shall
he payable in the capital stock the Com
many. 10 s,,,,,'a;l. Secretary. Treasurer.
in-eintendents, EneneI.c, er'+ other
officers or servants necessary or proper, iorI
the ia.thiGi performance, Of any duty nee
e,sary to the strlction or per man
-ainance Of the .s.l pIa1t rpai; 10 nake.a,i
contracts for the furnishing Of materIalMor
equipments forsthe read on such credits as
they n,ay deem proper; 70 borrow money
.or aad on account OF sail road in any sum
aot 10 exceed ten thousand dollars unless
authorized by vote OF two thirds of the
stockholders rot TO exceed that sum. and to
mortgage the said read and It's appurienan-
ces to secure the payment of the same to
make all contracts for the purpose Of speed
" AMI properly constructing SAID road, and
when sait road OF any part thereof is finish
81, to fix the rate Oh tolls .or sane to make
al rules and regulations or bylaws neces-
sary for the proper, safe and regular tran
acton of the business of the company; but
such rule and regulations shall be subject
70 repeal, change. amendment. or n1odItlca-
ton. by the stockholders at their meetings,
or by the President and Directors in them
tervaIs; they may accept donations in land
or money, or snch materials or labor as may
be useful to the company they shall de-
clare semi-annually the dividends arising
from the road after the payment Of all ex-
penses. Said dividends shall be declared
and ma Re payable TO the stockholde.s dur
ing the first fifteen DAYS of December AM
June of each year they shall make at least
once in each year report in full detail 20
the stockholders, exhibiting the expences
and profits or revenue Of the road as we'll as {
The cost during the process of constru citing
the same as well Is the repairs that may be [
made thereof; tlev shall keep or Cause to
be kept. 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 opened to the inspection
Of the stockholders at the Office ofthe CON-
pany. A stock book shall lie kept and GER
+ificates OF stock shall be issued to the
stockholders, and no transfer Of stock shall
1e binding on the company until made on
is stockbOok.
10. If any subscriber for stock shall he
axed by virtue OF any law or ordinance for
he payment of subscription to the company |
le Shall have the risht of reducing the
number of his shares by an amount equal c
% that of the tax so imposed, but this
light must be exercised within thirty days n
rom the date of the law or ordinance after
which term it shall no. be allowed. h
14th An annual meeting of the stockhol- c
Iers shall be held on the first Monday in t
)ecemher TO receive an annual rpnort of