The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-09-10

of the commissioners hereafter designate
and appointed to receive subscriptions =
All subsequent elections shall be held a
Baton Rouge under the superintendent o
three commissioners appointed from am
ongst the stockholders by the Board of Di
rectors for the time being. Notice of tn,
first election Of Directors, shall be giver
fifteen days in advance, in at least one news
paper published in Baton Rouge, and ons
published at Clinton. The first Board o.
directors shall hold Office until the thirc
Monday OF January, 1854. The election
snail he annual, and each subsequent Board
snail be elected on the third Monday of Dec.
ember. A failure to elect Directors, shall
not dissolve the corporation, but the Board
III ONCE shall continue the exercise of its
functions until new 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
tnirty days in advance, in the official paper
81 the company, and in one paper published
at Clinton.
18th. The following persons are hereby
appointed commissioners for the purpose Of
receiving subscriptions TO the stock of said
corporation. Us: Commissioners at Baton
Rouge, I. G. Morgan, S. M. Hart, II. T..
Waddill. A. S. Heron Eugene Lanoue and
W. s. Pike. At Clinton, j. H. Muse. II.
II. Haynes, Henry Marston. CIV. Munday,
J. B. Smith, VIM. Patterson and NJ G.
Mills. The said commissioners shall have
power to appoint deputies or agents in
other places to receive subscriptions
Three shall form quorum to do 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 tine 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.
Sth. Immediately after the election
of the first Board of Directors the SUBJ
scription list shall be opened for 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
a newspaper published at the place where
said subscription books are opened; and the
board shall have power to appoin. agents
for receiving subscriptions At the end of
taid three months, if the amount of sub
scriptions shall exceed the amount of capt.
tai required, q 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 shall be re-
duced from the largest Subscription SO as
not to dimish the number of shares OF any |
while another remains with a
larger number of shares. If there be any |
deficiency in the amount of capital subscrib-
ed, the said subscription books 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
to pay the nstallments on his
stock, as required, the Board of Directors,
shall have the option, after thirty days
written notice to the deiaulter, of forfeiting
he stock. and selling it for the benefit of
said stakeholder, or of compelling by suit
he payment OF such enstallment and no
tockholder shall be PERMITTED to vote while
II default.
10th. All meetings of Stockholders called
or the purpose Of increasing or diminish
ng the capital stock of the company or tor
my Of the purposes enumerated in the fifth
ection of the act of the Legislature of
Louisiana entitled ".am act for The organisa-
ion Of corporations for works Of public ,nl-
utility" shall be composed of
versions holding in their own right, or as
gents for others at least three-fourths of
he stock Of the company, in order to take
aid and binding action in the premises,
t all other meetings of stockholders, and
1t all elections, a majority of stock shall be .
epyssented, and in this latter case, if such
majority be not present nor represented the
Meeting shall be adjourned for one week,
nd the vote Of the majority of the stock +,
resent and represented at such adjourned {
Meeting shall bind the company in the same
manner, as if majority Of all the stock
we're present and represented.
18th. Any vacancy in the Board of Dir ,
ctors, occurring during the year may be
lied by vote Of the Board of Directors. ,
10Th. The President and Directors of said s
orporation shall have power to make and
Sc common seal-to elect a newspaper, S
-hich shall be known to the Stockholders a
) the official paper of the Company, and c
which all advertisements shall appear. n
nd to do every thing necessary for the v
repair, and maintenance of r
lie plank road herein before described, with n
! many tracks as they may deem necess- |
y to determine the line of the road, and n
lie depots that may be necessary to make b
I'd construct all works whatever for the
roper and complete working of the road -
construct all bridges over Manageable and
her streams, and whether the crossing .