The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-10-17

. larger number Of shares. If there be 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 subscrib.
ed.
. 9Th. In case Of failure on the part Of any
subscriber to pay the installments on hi
stock, as required. the Board Of Directors
shall have the option, alter thirty days
written notice to the defauiter. Of FORGETTING
the stock. and selling it tor the benefit Of
said stakeholder, or Of compelling by sui.
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 tor
any of the purposes enumerated in the fifth
section Of the act Of the Legislature Of
Louisiana entitled I'm art for the organize.
ton of corporations for ,rorks Of public i'm.
,provementamd utliy,T 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 al other meetings Of stockholders, and
At all elections, majority of stock shall be
represented. and in this latter case, il 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
manne-. as if majority OF all the stock
were present and represented.
18th. Any vacancy in the Board Of Dir
ectors, occurring during the year may be
filled by a vote of the Board Of Directors.
18th. The President and Directors of said
corporation shall hav. power to make and
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 maintenance Of
the plank road herein before described, with
as many tracks as they may deem necess-
aYy t. 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 the road
10 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 Secretary. Treasurer:
Superintendent. Engineers. and other !
off :ers or servants necessary or proper, for |
the faithful performance, of any duty nee
essary to the construction or proper main
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
for and on account of said road in any sum
not to exceed ten thousand dollars. unless
Authorized by vote Of two thirds ofthe
stockholders, not to exceed that sum. and to
mortgage the said road and its appurtenan-
ces to secure the payment Of the same 10
m Ike ali contracts for the purpose Of speed
" and properly constructing said road, and
when said road or any part thereof is finish
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
action of the business Of the company bu:
such rule and regulations shall be subject
to repeal. change. amendment. or mcdibea-
ton. by tie stockholders at their meetings.
or BY the President and Directors in thein-
.they may accept donations in land
or money, or such materials or labor as p,ay
be useful to the company they shall de-
clare semi-annsaIly the dividends arIis ny
FROM the roai after the payment Of all ex-
peuses. Saiei dividends shall be declared
and made payable to he stockholders dur
ing the first often days of December and
June of each year they shall make at least
onee in each year report in full detail TO
The stockholders, exhibiting the expences
and profit, or revenue Of the road as well as
The cost dsrin. :ke process Of constJa citing
he same IS well rs the repairs that may be
made thereof; trey shall keep or cause to
be kept, regular set of books, on which
shall he entered il regular order all business
Or other transactions Of the company. which
,aid book shall be opened to the inspection
If the stockholders at the office the COM
,any. A stock book shall be kept aud Ger
ificates Of stoek shall be issued to the
stockholders, and no transfer of stock shall
,e binding oil the company until made Oh
Is stockb0ok.
10. If any subscriber for stock shall I've
axed by virtue OF any law or ordinance for
he payment Of subscription to the company
,e shall have the right of reducing the
humber his shares by an amount equal {
o that Of the tax SO imposed but this
light must be exercised within thirty days I
rom the date of the law or ordinance after
which term it shall not be allowed i
l4th An annua! meeting of the stockhol- &
lers shall be held on the first Monday in t
December to receive an annual report Of,