The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-10-13

not to dimish the number Of shares OF shy
subscriber, while another remains with a
larger number of shares. II thefe be any
deficiency in the amount of capital subscribe
ed, the said'subscription hooks may be re-
opened and closed from time to time, until
the whole capital shall have been subscrib.
ed.
Sth. In case Of failure on the part Of any
subscriber 10 pay the instaTlments on his
stock, as required. the Board of Directors,
shall have the option, after thirty days
written notice to the deiaulter. of torfeiting
the stock. and selling it tor the benefit OF
said stakeholder, or Of compelling by suit
the payment OF such enstalment: and no
stockho'der shall be PERMITTED to vote W lille
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 I'm art for the organ;-a-
ton Of corporations for works of public i'm
proOcnsa.un1 miity," 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 j other meetings Of stockholders. and
At all elections. majority of stock shall BE-
represented. and in this latter case. if >rch
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 a majority of all the stock
We're present and represented.
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 and Directors of said
corporation shall have power to make and
use a common scai-to elect a newspaper.
wlirh shall be known to he 5toc kholders
as the otii'.al paper Of the Company ard
in which all advertisements shall appear
and to do every thing Necessary for TIE
construction. repair. and mantanance o.
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 dcpois that may be necessary to make
and construct all works whatever for the
proper and complete working of the read
TO construc. all bridges over Manageable and
other streams. and whethe" the crossing
shall he by bridge or ferry; 10 contract
specially for work, labor or materials to be
furnished to the company. and to agree
tic whole or any part thereof shall
be payable ii. the capital stock ofthe Com
pnny: to appoint a Secretary. Treasurer
inten0ents. Engineers. and othe
offer or servants necessary or proper, tor
the faithful performance. of any duty nee
e,sarv to the construction or proper main
tainancc of the said plank road to make all
contracts for the furnishing OF material or
equipments for the road on such credits a.
they may deem proper; 10 borrow money |,
for and on account of said road in any sun
not TO exceed ten thousand dollars, unless |
lut ,riZed by a vote OF two tlilds of The |
stock holders not to exceed hat sun and to |
the said road and its appurtcnan-
,es to secure the payment Of the same TO !
n ike all contracts for the purpose ot speed !
" and properly constructing said road. aid |
when said road or any part thereof is finish |
I'd. to fix the rate Of tolls for same to make |
all rules and regulations or bylaws ueces-
sary for the proper. safe and regular tran
lctionf OF the business of the company: but |
such rule and regulations shall be :ntie,'' |
% re peal. change. amendment or mod hca-
ion, by the stockholders at their meetings
Or by the President ami Directors III them
ervas: they may accept donations in land
,r money. or such materials or labor as NAV
De asetul to the company they shall de-
'lare Sc ni-annuaiy the dividends arlis NJ
70 n the roa after the payment CT all ex-
,enses. SAID dividends shall be declared
md male payable to he stockholders dur
n. the FIRST fifteen days of Decembe and
me of ca n y'ar !; they shall make at Iels
VICE in each year report in full detail to
he sto .kholderS. exhibiting the expences
nd profits or revenue Of the road as We'll as
he cost during The process of coHstru citing
he same as wei, as the repairs that may be
naIe thereof! t'iey shall keep or cause 10
,e '-r.t. Il regular sat Of books, OF which
hall he entered in regular order all bus mess
# other Transactions of the company. which
aid book shall i,e Opened to the INSPECTION
+ the stock holders a! tn. office OF he COM
any A stock book shall be kept and cer-
ificates OF stocA shall be issued to the
tool holders, and no transfer of stock shall
e binding on the company un;il made on
IS stock book
49, If any subscriber for stock shall be
axed by virtue OF any law or ordinance for
he payment of subscription to the company
e shall have the right of reducing the
lumber of his shares by an amount equal
0 that of the tax so imposed. but this
ight must be exercised within thirty DAYS
rom the date of the law or ordinance after
which term it shall not be allowed.
Ii b An anGuaI meeting Of the stockhol ,