The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-09-29

and appointed TO receive subscriptions
All Subsequent elections shall be held at
Baton Rouge under the supreintendance Of
three commissioners appointed from ann
ongst the stock holders by the. Board Of Dr.
rcctors for the time being. Notice. Of the
first election Of Directors shall be given
fifteen days in.adyance, mat least one ne VS.
paper published in Baton Rouge, and one
i. published at Clinton. The first Board Of
j Directors shall hold Office until the third
Monday of January, 1864. The election
shall be annual, and each subsequent Board
shall be elected on the third Monday Of Dec
ember A failure to elect Directors, shall
not dissolve the corporation, but the Boaid
in Office shall continue the exercise Of its
functions until nsw board can be elected.
All notice of elections and Of meetings Of
stockholders after the first election above
provided for, shall be given by publication
thirty days in advance, in the official Inpef
Of the company, and III one paper published
at Clinton.
7th The following persons are hereby
appointed commissioners for the purpose Of
receiving subscriptions to the stock Of said
corporation Ti=: Commissioners at Baton
Rouge, T. G. Morgan, S. NJ. Hart, II. 7.
WadiilI. A. S. Heron. Eugene Lanoue and
W s. Pike. At Clinton. J Fl. Muse. FL.
II. Haynes, Henry Marston. CIV. Mnnday,
J. g. Smith, VIM. Patterson and NJ. @.
Mills The said commissioners shall have
power TO appoint deputies or agents in
other places to receive subscriptions. -
Three shall form quorum TO dc business.
The subscriptions shall be closed as soon as
the amount of Thirty Thousand Dollars
shall have been subscribed. and the com
missoners shall Immediately thereafter
cause this charter, with the names OF the
subscribers TO be registered in the office OF
+, the Recorder of Mortgages as required by
law. and shall cause notice to be given
and an election for Directors held as provid-
ed for in the 9Th Article Of the charter.
sih Immediately after the election
Of the first Board Of Directors the sub
scrlption list shall be opened tor a term
Of three months at such places as may be
deemed advisable by the Board of Directors
and public notice shall be given thereof in
ii newspaper published at The place where
said subscription books are opened; and the
board shai, have power to appoint agents
| for receiving subscriptions. At the end OF
said three months, if the amount Of sub
scriptions shall exceed the amount Of carl
tai required, meeting of 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 shalt be re-
! duced from the largest subscription so as
not TO dinl,sll 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 capital subscribe
cd, the said subscription books may ne re-
opened and closed from time to tiYne. until
the whole capital shall have been sub9crib-
| ed.
sth. In case Of failure on the part Of any
subscriber to pay the instailments Oh his
stock, as required, the Board Of Directors
saal have the option, after thirty days
written notice to the deiaufter. Of forfeiting
J the stock and selling it Tor the benefit Of
said stakeholder, or Of compelling by suit
the payment Of such cnstalment 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 tith
section OF the act Of tho Legislature Of
Louisiana entitled '.4n an for Me orgaai-a-
ftoa Of corporations far 7eorhs IF padlic i'm
prorementaam uttiay" shall be composed Of
persons holding in their own right, or as
AGENTS for others at least threa-iourths Of
the stock OF the company, in order 10 take
valid and binding action in the premises,
at al other meetings Of stockholders, and
| At all elections, majority Of stock shall br
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 adorned
meeting shall bind the company in the same
manner as if majority of all the stock
were present and represented.
! / It'll. Any vacancy in the Board Of Dir
ectors, occurring during the year may be
| filled by vote of the Board of Directors.
| 10Th The President and Directors OF said
corporation shall have power to make and
use a common seal-to elect a newspaper,
which shall be known to The Stockholders
as the official paper of The Company, and
! IN which all advertisements shall appear.
and 10 do every thing necessary for tine
construction, repair. aH.i nqnfal nance Oh
the plank road heroln bcloFe described, with
as many tracks as they nsay deem ueeess-
AIRY to determine the iine OF the road, aad
the depots that fnay be necessary /; to make
aud construct all works whatever for the
proper and complete working Of the road :
TO construct all bridges over Manageable ana