The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-11-30

subscriber while another remains with
larger number Of shares. If there be any
deficiency in the amount of capital subsc RIB
ed, the said subscription books may be re-
opened and closed from time to time, until
the whole capital shall have been subscribe
ed.
! 8th In case of failure OH the part Of any
subscriber to pay the instalments Oh his
stock, as required, the Board of Directors,
shall have the option, after thirty days
written noticetp the delauter. offorfeiting
the stock and selling it Tor the benefit OF
said stakeholder, or of compelling by suit
the payment of such enstailment 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 10 the fifth
section of the act of the Legislature Of
Louisiana entitled ''.4n art for the orgawizG-
ton of corporations for works Of pubic I'm
provencntand ntitayn 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
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 majority of all the stock
were present and represented.
18th. Any vacancy in the Board Of Dir
ectors occurring during the year may be
tiii,,d by vote of the Board Of Directors.
18th. The rr,,,,~.dcnt and Dire "tors Of said
corporation shall have power to make a..'o
use 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 to do every thing necessary for the
construction. repair, and maintenance oil
the plank road herein before described, with|
as many tracks as they may deem necess-
airy 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 the 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 or any part thereof shall
be payable in the capital stock ofthe Com
pany; to appoint a Secretary. Treasurer.
superintendent, Engineers, and other
officers or servants necessary or proper, for
the faithful performance. OF any duty nee
essary 70 the construction or proper nam
tainance Of the said plank road to make all
contracts for the furnishing of material OF
equipments for the road on such credits as
theyAnay deem proper; TO borrow money
fof and on account of said road in any sum
not 10 exceed ten thousand dollars, unless
authorized by vote Of two thirds of the
stockholders. not to exceed that sum- and to
mortgage the said road and its appurtenan-
ces to secure the payment o, the same ; to
make all 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 Cor 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 modica-
ton, by the stockholders Mt their meetings.
OF by the President and Directors in them
terva's; they nay accept donations in land
or money. or sGch materials u3 labor as NAV
be usallI. TO the company they shall de-
clare emi-annuaIly 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 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 constru citing
the same as well as the repairs that may be |
made thereof they shall keep or cause to
be kept, regular set of books, on which |
shall be entered in regular order all business
or other transactions of the company, which |
said book shall be opened to the inspection
of the stockholders at the office OF he COM
pany a stock book shall be kept aud GER |
tilicates of STOCK sha. be issued to the !
stock oders, and no transfer of stock shall |
be binding on the company until made On
its stockbook.
13. If any subscriber for stool, shall be
taxed by virtue OF any law or ordnance for
the payment of subscription 70 the company
he shall have the right of reducing the
number of his share by an amount equal
to that of the tax so imposed but this
right must be exercised within thirty days
from the date of the law or ordinance ate.
which term il shall not be allowed
14ih An annual meeting of the stockhol-
Il. Ill LII e. N