The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-11-13

duced from the cSsHnbscription SOFA
I MOI to difnish the number of shares of any
ishbscriber, while another remains with a
larger number of shares. II there be any
! deficiency in the amount of capital subsc rib
cd, the said subscription books may be re-
opened and closed from time to time, until
the whole capital shall have been subscrib-
ed.
! 18th. 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 defaultcr, of forfeitDg
the stock, a,.d.selling itstor the benefit OF
said stoctholdcr, OF ofeompeling by suit
the payment OF such. lallment: and 70
stocEholder shall be pGelhIted to vote Willis
in default.
10Th. All meetings Of Stakeholder called
ing the capital stock Of the company or for
any Of the purposes enumerated in the fifth
section of the act Of the Legislature of
Louisiana entitled ''.an aa for The oTeanisa-
licwoC corporations for corhs Of pubfc in
p,opensentanigtauyp 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
Al all elections, q majority Of stoc kshall 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 ,he majority Of the stock
present and represented at such adjourned
meeting shall bind the company inthc same
manner, Us Ma majority of all the stock
were Pre- 5ent ard represented.
1lth. Any vacancy in the Board Of Dir
ectors, occurring during the year may be
filed by a vote of the Board of Directors.
10Th. The President and Directors OF said
corporation shall nave power to make and
use cornrnon scal--to elect a newspaper,
which shall be known TO the Stockholders
as the Official paper OF the Company, and
in which all adye. tiser0ent5 shall appear,
anI to do every thing uecez AIRY for the
constHic ion, repair, and maintenance Of
the plan; -ood herein before described, with
as many tracks e. they may deem uecess-
airy to determine ,he line OF the road, and
the dero.s shat may I've necessary to rake
Il
props. and coupleta working of the road
TO construct al bridges over nagagable and
other streams, and whether the crossing
shall h by bridge OF ferry; to contract
speciaily foY work, labor or materials to be
furnished 10 the company, and to agree
whether the who'c or any part thereof shall
be payable IL the capital stock olthc Cou
pany; to appoint Secreilry. Treasurer,
supgoiateade1ts, Engineer, aud other
officers or servantg recass.ry or proper, for
the faishlul pe8cmanc,, % any dnty nee
essarg to the construction or proper main |
tainance of the said plank road TO make all
contract. for thc furnishing Of material or !
eCugpin en,s Cor the road on such credits as
taey mar deem proper; to borrow money |
for ard GA account OF SAL road in any sum |
not 70 exceed ten thousand dollars, unless |
author. ed by I. vote Of two thirds ofthe
not to exceed that sum, and to
mortgage the said road and its appurtenan-
ccs to secure the payment Of the same to
make all contracts for the purpose ofspeed-
ly and properly constructing said road, and
when said road or any part thereof is finish |
ed, TO FIX che rate OF tolls for same to make |
all rules and re ,uIations or by-lawsrneces-
sary for the proper, safe and regular tran
action Of the business of the company; but |
such rule and regulations shall be subject
to repeal, change, amendment, or modilca-
ton, by the stockholders at their meetings, !
or by the President and Directors in thein-
tervaIs 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 road after the payment of all ex-
penses. Said dividends shall be declared
and made payable to the stockholders dur
ing the first iilten 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 expences
md profits or revenue of the road as we'll as
he cost during the process OF constrn citing
he same as we'll as the Iepairs that may be
made thereof they shall keep or cause TO
DC 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
If the stockholders at the office ofthc COM
amy. A stock book shall be kept and GER
ilicates Of stock shall be issued to the
stockholders, and no transfer Of stock shall
&c binding on the company until made Oh
Is stockbook.
10. If any subscriber for stock shall be
axed by virtue Of any law or ordinance for
he payment of subscription TO ihe company
he shall have the right Of reducing the
lumber ofhis shares by an amount equal
o that of the tax so imposed, but this
light must be exercised within thirty days
rom the date Of the law or ordinance after
Il, ,ol t., Il ,,,.o.I