The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-10-16

subscriber, Wnlle anOtner remains Win
larger number of shares If there b. any
deficiency in the amount of capital subscrib-
ed, the said subscription books may be re-
opened and closed from time to time. until
the whole capital shall have been snbsclib-
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 forfeiting
the stock. and selling it tor the benefit of
said stakeholder, or of compelling by suit
the payment of such enstallment and no
stockholder 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 for
any of the purposes enumerated in the fifth
section OF the act of the Legislature OF
Louisiana entitled ''.4n art for the orgami-a-
ton of corporations for ,corks Of public i'm
proyenlentanM utiity," shall be composed OF
persons holding in their own right or as
agents for others at least three-tourths OF
the stock of the company, in order to take
valid and binding action in the premises.
at all other meetings OF stockholders, ard
At all elections, 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
meeting shall bind the company in the same
manner. as if a majority OF al! the stock
were nreSent and reUrSseuted
18th. Any vacancy in the Board of Dir
ectors, occurring during the year may be
filled by vote of the Board Of Directors.
18th The President aud Directors OF SAID
corporation shall have power to make and
use common seal-to elect newspaper.
which shall be known to he 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 naintaina oi
the plank road herein before descrJ bed, with |
as many tracks as they may deem uccess-
ary to determine the line of the road, and |!
the depots that may be necessary TO make !
and construct all works whatever for the
proper and complete working of tine 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 OF any part thereof shall |
be payable in the capital stock ofthe Com |
pany to appoint a Secretary. Treasurer. |
Supre ntanaents Engineers. and other
officers or servants necessary or proper. for |
the faithful performance. of any duty nee
essarv 10 the construction or proper na..-
tainance of the said plank road: to make al.
contracts for the furnishing OF material o.
e1upments for the road on such credits as
they may deem proper; 10 borrow money
for and on account of said road in any sum |
not to exceed ten thousand dollars, unless
authorized by vote Of two thlIds OF The |
stockholders. not to exceed that sum- ard to
mortgage the said road andits appurtenan-
ces 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 OF any part thereof is finish |
ed, to fix the rate OF tolls for same to make |
all rules and regulations or bylaws neces-
sarv 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 modliica-
ton. by the stool holders at their meetings.
or by the President and Directors in them
tervas; they may accept donationsi IN land
or money. or such materials or labor as may !
be useful to the company they snail de-
clare semi-annuaIly the dividends arIis ng
from the roaI after the payment OF all ex-
penses Said dividends shall be declared
and made payable to he stock holders dur
ing the first fifteen 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
and profits or revenue Of the road as well as
the cost during the process OF conS'ra citing |
the same as well as the repairs that may be
made thereof; they shall keep or cause 10
be kept. a regular set Of books, or which I
shall be entered in regular order ali busiue 5 /
or other transactions Of the coEl1aay, which .
said book shall be opened to the inspection
Of the stockholders at the office oithe COM
pany. A stock book shall be key ana GER !
tificates Of stoch shall be issrel to 'he
stockholders, and no transfer Of s''t} -l"'
be binding on the company rr1' ny r
its stockbook.
10. If any subscriber for stoc' ens1 -e
taxed by virtue OF any law or o .fa-et i..f .
the payInent of subscription 70 t5e p gIpaaf
he Shall have the right of reAn.ine the /
number of his shares by an amolnt e1 "a !
to that of the tax so imposed. bat ihis
right must be exercised within thirty days |
from the date ofthe law or ordinance after
which term it shall not be allowed
14ih An annual meeting Of the stockhol-
n H. alI ho