The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-12-04

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subscriber, while another remains with
larger number of shares If there be any
deficiency IN the amount Of capital subscribe
ed, the said subscription books may be re.
opened and closed from time to time, until
the whole capital shall have been subscribe
ed.
9Th. In case of failure on the part ofany
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 FORGETTING
the stock and selling it for the benefit of
said stockholder,or of compelling by suit
the payment of such enstallnsent and no
stakeholder shall be permitted to vote while
in default.
10th. All meetings of Stockholders called
for the purpose Of increasing or dImlnish-
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 ".4,, act for the organi.a-
ton of corporations for ,corks Of public I'M
proyemsntqad maay,' shall be composed OF
persons holding in their own right, or as
agents for others at least three-iourths of
the stock Of the company, in order to take
valid and binding action in the premises.
at ali other meetings OF stockholders. and
At all elections, a majority of stock shall be
and in this latter case, If sncii
majority be not present nor represented the
meeting shall be adjourned for one week.
aud the vote of the majority OF the stock
present and represented at such adjourned
meeting shall bind the company III he same
manner, as if 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.
10th The President and Directors of said
corporation shall have power to make and
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
repair. and maintenance of
the plank road herein before described, with
"a many tracks as they may deem neceSs-
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 the road
TO construct all bridges over manageable and
other streams. aud 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 OF the Com
pany; to appoint a Secretary Treasurer,
Engineers, and other
officers or servants necessary or.proper, tor
the faithful Performance, OF any duty rec
essary TO the construction or proper mani
tainance Of the said plank road to make all
contracts for the furnishing Of material or
equipments for the road on such credits as
thew NAV deem proper: TO borrow money
for and on account of said road in any sum
ma TO exceed ten thousand dollars. unless
authorized by vote of two thirds OF the
stocb hoiders. not to exceed that sum, and to
mortgage the said road and its appurtenan-
ces to secure the payment OF the same to
make all contracts for the purpose of speed
ly 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 tram
action of the business of the company; but
such rule and regulations shall be subject
to repeal. change. amendment. or moditlca-
ton, by the stockholders at their meetings,
or by the President and Directors in Them
tervals; they may accept donationsi in land
ofmoney, or such materials or labor as may
be useful to the company they shall de-
clare semi-annuaIly the dividends arising
from the roaeiaft-r 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 ard
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 read 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. a 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 the com
panv. A stock book shall be kept and GER
tificatcs of stock shall be issued TO the
stoc kholders, and no transfer of stock shall
be binding on the company until made Oh
its stockbook.
10. If any subscriber for stock shall be
taxed by virtue OF any law or ordinance for
the payment Of subscription to the company
he shall have the right of reducing the
number of his shares 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 after
which term it shall not be allowed
+ 18th An annual meeting of the stockhol-
Jorc chaJl no hold On tho fret Mondav IN