Southern sentinel. [volume] (Plaquemine, Parish of Iberville [La.]) 1848-1858, 1852-09-04
CHARTER OF THE
Crosse Tete and Baton Rouge
PLANK ROAD COMPANY.

act OF the Legislature OF louisiana, entitled, An
Act for the organization of Corporations for works
of public improvements and utility" for the pur-
pose of constructing a Plank Road from the Mis-
sissippi river, opposite the city of Baton Rouge.
and thence along the most eligible route to a CEN
trail point OIL the Bayou Crosse TGte. the present
proposed terminus; and hereafter to some point on
the Bayou Maringouin, that viii be convenient
and advantageous to the people OF said Bayou, TO
be by them selected, with a view also to the far
Their extension Of said road to Bayou Alabama,
and for that purpose we have formed the annexed
Charter, and have signed the same, and added TO
our signatures a statement OF the number of shares
and the amount OF our subscriptions to said Com
pany.
/. The said Corporation shall be called The
Crosse Itte and Button Rouge Plank Koad Compa-
n.y." and its domicil shall be fixed at lis office on
Bayou Crosse Tete.
2. The said Corporation is established for the
purpose of constructing, working and maintaining
a Plank Road from the Mississippi river, opposite
the city of Baton Rouge. and thence westward to
the Bayou Crosse T6te, and from thence hereafter
to be continued to Bayous Maringouin and Ala
bama-to Attakapas, if the Company shall deem
it necessary.
3. The Capital of the Company shall be fixed
at 100000, divided into 2400 shares of S2J each,
payable IS 33 l-3c. per share on the 1st OF April,
1858; IS SO l-3c. per share on the 1st of April,
1854 and IS SO 1-jc. per share on the LIST of
April, 1855, for which amounts the subscribers
shall give notes, secured by mortgage or endorse
ment, to the satisfaction of the Board of Directors
For all subscriptions made before the election of
Directors, such subscribers shall, within 80 days
after a Board of Directors are elected, furnish their
notes as above specified and for all subsequent
subscriptions, notes shall be given at the time OF
subscribing, and the Commissioners in charge OF
the Stock-books shall accept the securities.
Any subscriber may pay the whole, or any
amount of his subscription for stock, III cash, al
the time of subscribing, in which case he shall be
entitled to a deduction Of s per cent. per annum
on the amount paid.
4. Said Corporation shall go into operation and
organize as soon as shares of Stock to the amount
of 500 900 shall have been subscribed.
5. The business of the Corporation shall be
conducted at Its domicil on Bayou Crosse Tete, by
a Board composed of five Directors, who shall be
Stockholders.
The Directors shall elect one of their body as
President of their Company, al their first meeting
consist of at least three Directors. At all cleo
tons by the Stockholders, and at all their meet
ings, each share shall be entitled to one vote.
After the first year, all shares Of stock must be
owned and possessed by the voter in his own right,
Or his principal, if held by proxy, six months be-
fore voted on.
6. The President of the Company is the officer
designated as the one on whom legal service of all
process or citation against the Company may be
made, and the Company agree TO be bound by
service of process or citation, whether made on
the President in person or left to his address at the
office of the Company, in the hands of any of its
officers.
7. The first Board of Directors shall be chosen
as soon as the lists of subscription are closed.
This election shall be held at the time and place
designated by the Commissioners charged with
80 ,,-.4
Notice of this election shall be given by pu5llca-
ton made fifteen days in advance, in a newspaper
published in Baton Rouge.
The first election shall be held under three of
the Commissioners aforesaid; all subsequent cleo
tons under the superintendent Of three Commits
sioners TO be appointed from amongst the Stock
holders by the Board of Directors for the time be-
ing. The first Board of Directors shall hold Office
until the LIST Monday of April, 1853. The cleo
tons shall be annual, and each subsequent Board
shall be elected on the third Monday of March
A failure to elect Directors shall not dissolve the
Corporation, but the Board in Office shall continue
the exercise of its functions until a new Board can
be elected. All notices of elections and of meet
ings of Stockholders, after the first election above
provided for, shall be given by publication fifteen
days in advance, in the official paper of the Com
pany.
s. The following persons are hereby appointed
W. h"S P"foS~
scriptions to the Stock of said Corporation, viz:
Bayou Crosse 1rte and Maringouin-Chas. A.
Slack, Theo. Johnston, VIM. ]. Began, DR.. is
Garrett, DIR. G.. W. Campbell.
West Baton Rouge.-W. B. Robertson, DR.. w.
J. Lyle, J. V. Durable, VIM. R. Stuart, John L.
Lobdell, DR.. T. P. Vaughan.
Baton Rouge Ciy.-Wm. S. Pike, Samuel M.
Hart, w II. Crenshaw, D.. D. Avery, and w. D..
Phillips.
The said Commissioner shall have power to
appoint deputies or agents in other places for re-
ceiving subscriptions. Three shall form a quorum
to do business.
The lists for subscription shall be closed as soon
as the amount of twenty thousand dollars shall
have been subscribed.
As soon as the subscription lists shall be closed,
they shall all be returned to the domicil of the
Company, for registry in the office of the Record
er of Mortgages Of West Baton Rouge, as required
by law.
9. Immediately after the election of the first
Board of Directors, the subscription lists shall be
opened again for a term of three months, when
ever the said Board of Directors may deem it adj
visable, 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 appoint agents for receiving the
subscription. At the end of the said three months,
if the amount of the subscription shall exceed the
capital required, ameeting of the Stockholders and
subscribers shall be held to determine whether the
Capital shall be increased TO the whole amount of
subscription, and if the Capital be not so increased,
then the number of shares subscribed shall be re-
duced by deductions from the largest subscrip-
tions, so as not to diminish the number of any
subscriber while another remains with a larger
number of shares.
If there be any deficiency in the amount of
Capital subscribed, the said subscription books
may be re-opened and closed from time to time
i'll the whole Capital shall have been subscribed.
10. In case of failure on the part of any SUBJ
scriber to pay the obligations assumed by his sub
scription, as required, the Board of Directors shall
have the option, after thirty days written notice
to the d~efaulter. of FORGETTING the Stock and selling
it for the benefit of said Stakeholder, or of COM
polling by suit, the judgment of such instalment-
and no Stakeholder shall be permitted to vote
while in defanlt.