The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-11-20

SnDscTlDer, WDlle VnOttef remains WIN
larger number of shares II there be any
deficiency in the amount Of capital subscribe
led, the said subscription books may be re-
lonenel and closed from time to time, until
the fhole capital shall have been subscribe
ed.
@6th In case Of failure on the part Of any
subscriber TO pay the installments on his
stock, as required the Boazd of Directors,
shall have the option, ntkkr thirty days
written notice to the dei5nlter. of FORGETTING
the stock, and selling it for the benefit of
said stakeholder, or Of compelling by suit
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 for
any of the purposes enumerated in the fifth
section OF the act Of the Legislature of
Louisiana entitled "1n art for The ergani.a-
propen,entand ptRty,n shall be composed Oh
persons holding IN their own right. or as
| cents for others at least three-iourths oi
| the stock of the company, in order to take
valid and binding action in the premises
Mt all other meetings Of stockholders, and
At ali elections, majority of stock shall BIZ
represented, and in this latter case, If such
majority be not present nor represented ths1
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 ma lority Of all the stock (
were present andTepresented.
18th. Any vacancy in the Board Of Dir
ectors. occurring during the year may be
filed by vote of the Board OF Directors.
10Th. The President and Directors OF said |
cor, grafton shah hay. power to make abi |
use n common sea to elect a newspaper.
which shall be known 70 the Stockholders
rs the nilie ial napnr 81 the Comranv and
in w4irh ali advertisements shall appear.
and to do every thin, necessary for the
construction repair. aud mair,anance off
the PLAN road herein before described, with
as many tracks as they may deem uecess-
arv to determine the line OF the road and
the depols that may be necessary ; to make
and construct all works whatever lor 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 Of ferry; TO contrac
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 n Secretary, Treasurer
>upreiulendcnts. Engineers, and otherl
officers Or servants necessary or proper, tovI
he lditaiai performance oi any duty nec-
essary 70 The construction u proper noln-
taiGance ol the SAID plank road TO make all
cont acs Tor the furnishing Of material OIL
equipments for the road on such credits a.
they may deem proper; 10 borrow money
for and on account OF said road in any sum
not to exceed ten thousand dollars, unless
1uthnri7od by vote Of two thirds Of the
stockholders. not to exceed that sum. and 10
mortgage the said road and its appurtenan
cos to secure the payment of The same ; to
make all contracts for the purpose oispeed-
" and property constructing sa'd road. and
when sal road or any part thereof ~ hnish-
81 to f the rate Of tolls lrf same 10 make
al rules ani re CITATIONS or Av-laYa n"ces-
.arv for ino proper. seize and regular tran
action of the hu1iucs- Of thc company: bui
such rule and regulations snail he subject
10 repeal. change. aUe ldu,rut. or modiiIca.
lion. by the Stockholders ~ ihcr meetings.
or BY the President and Directors in 'hein-
tervas; they may accept cona'ion, in land
or money. or such materials or labor as may
be useful 10 the company they shall de-
clare semi-annually The dividends arising
from the road after The payment Of all ex- {
penses Said dividends shall be declared i
and ma L. pa fablc 10 he stock hoders DIR
ing The first liftcn days of December and I
June OF each year they shall make at least |
once in each year a report in full detail TO
the stockholders, exhibiting the expencee
aud profits or revenue of tae read as well a c
The cost during the process OF constructing 1
the same as wei, a. The repairs shat may BE- j.,
made thereof tiev 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 "I the company, which
said book shall be opened IT, ~ inspection
If the stockholders al the office ST o.. conf
pany. A stock book shall be kept and Ger
iticates of STOCK shall be issued TO the S
;toc kholders, aud no transfer OF stock shall
De binding on the company until made on \
Is stockholm.
~. If any Subscriber Cor stock shall ho
;axed by virtue OF any law or ordinance for +
he payment of subscription to 'ne company 1
ne shall have the right of reducing the
humber of his shares w an amount equal c
% that of the tax SO imposed, but Ibis
light must be exercised within thirty DAYS n
ron the late of the law or ordinance after
which Ter - it shall not be allowed b
li'h An annual meeting of the stockhol- c,
err sh7ll he held on the first Monday in IA
)erembe! 10 receive an annual report of