The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-10-15

duced .fson tho largest subscription SO as |
not to 4 1sh the number Of shares Of any
subscriber, while another remains with a
larger number Of shares. If there be any
deficiency in the amount Of capitalsubscrib-
ed, 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
subscriber to pay the installments 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 epstallment 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 tor
any of the purposes enumerated in the nth
section of the act of the Legislature OF
Louisiana entitled ".An art for the organisa-
tio,, of corporations for works Of public M
Drove,aentand utiiity,0 shall be composed OF
persons holding in their own right, or as
agents for others at least three-fourths of
the stock Of the company, in order to take
valid and binding action in the premises,
at all other meetings of stockholders, and
! At all elections, a majority Of Stock shall be
| represented, and in this latter 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 represented at such adjourned
l. h., ftttS lyIla
manner as if a majority OF all the stock
were present and represented.
i 18th. Any vacancy in the Board Of Dir
cctors, occurring during the year may be
filled by 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 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-
ary to determine the line Of the road, aud
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 thereof shall
be payable in the capital stock OF the Com
pany; to appoint a Secretary. Treasurer,
Supreintcndents Engineers, and other
lr ,fc or
the faithful performance, OF any duty nee
cssary to the construction or proper mann
tainance of the said plank road; to make all
contracts for the furnishing OF material or
equipments for the road on such credits as
they may deem proper 10 borrow money
i, for and on account OF said road III 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-
i ces to secure the payment of the same to
, make all contracts for the purpose OF speed
,, " and properly constructing said road. and
, when said road or any part thereof Is hnish-
, 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 tran
r action of the business of the company; but
such rule and regulations shall be subject
to repeal. change, amendment. or modihca-
, ton. by the stockholders at their meetings
or by the President and Directors IN them
tervals; they may accept donations IN land
. or money. or such materials or labor as may
f 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 made payable to the stockholders dur.
I iny the first fifteen days of December anf
! June of each year they shall make at Least
. once in each year report in full detail t'
the stockholders, exhibiting the expence'
E and profits or revenue of the road as well a:
a the cost during the process OF constrn ctns
= the same as well as the repairs that may be
r made thereof they shall keep Or cause t.
i be kept, regular set OF books, on wh!cf
shall be entered in regular order ali business
or other transactions Of the company, whici
f said book shall be opened to the inspection
1 of the stockholders at the Office ofthe com
!, panv. A stock book shall be kept and Ger
; tifcates OF stock shall be issued to tht
stockholders and no transfer Of stock shal
be binding on the company until made Oh
:. it's stockbook.
: 10. If any subscriber for stock shall b.
a taxed by virtue OF any law or ordinance TO
n the payment of subscription to the compan,
: he Shall have the right Of reducing TIN
3 number ofhis shares by an amount eqna
- to that of the tax so imposed, bnt thi
r. right must be exercised within thirty day
! from the date of the law or ordinance atte