The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-12-02

~ eantal b not % incre6Sed, then e
number Of shares subscribed shall be r..
ducsd from the lar( BET subscription 70 o.
not TO diminish the number Of shaTes Of any
subscriber, while another remains nth .
larger number Of shares. II there be any
deficiency 10 the amount Of capital subsc rib.
ed tho said subscr lion books may be re-.
opened and closed from time to time, until
the whole capital shall have been subscribe
ed.
y s,h In ease OF failure on the part Of any
subscriber 10 pay the instaIlnncnts on his
stock, as required, the Board Of Directors,
shall 1--we the option, after thirty days
writer notice to the dciaulter. Of FORGETTING
the stock. and selling it tor the beneht OF
said stocaholdcr, or Of compelling by suit
the payment Of such cnsiainent: and no
stakeholder shall be permitted TO vote while
in default
10Th. All meetings Of Stockholders called
for the purpose of Increasing or dimnlsh-
ing the capital stock Of the company or Tor
any of the purposes enumerated in the filth
sections OF thszpct of the Legislature Of
Louisiana entitled SIN art far tie organtsa-
tom Of corporations for morks Of pnbhe i'm
propementand utility" 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 10 take
valid and binding action IN the premises.
at all other meetings OF stockholders, and
Al al, elections, a majority OF stock shall be
r. presented, and in This latter case, if such
majority be not present nor represented the
meeting snail be adjourned for one week.
and the vote OF the majority OF The stock
present aud represented at sut4l adjourned
meeting shall bind the company in the SEN"
manner, as If a majority OF al the stock
were present and scpre~ented.
nth. Any vacancy in The Board Of Dir
cctora, Occurring during the year may be
filed by vo'' Of the Board OF Directors.
10Th l'he President and Directors OF said
corporation shall rave power to make and
use a common scal-to elect n newspaper,
which shall be known to tic Stock holders
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 OF
the plank road herein before Described, will
IA many tracks as they may deem neeess
airy. {, de'crlne the line OF the road, aud
The de pots that may be necessary TO MAKE
aul construct all works whatever for The
proper aud complete sworking OF the road
10 con ,;r,ict all bid. ,es over Manageable and
other streams, and whether the crossing
shall be by bridge or ferry; 10 contract
specially for work, labor or materials to be-
furnished to the company, and 10 agree
whether the whole or any part thereof shall
be payable ia the capital stock OF the Com
pany; to appoint Secretary. Treasurer
Supreintendens Engineers, and other
officers or servants necessary or proper, iol
the faithful performance, OF any duty nee
essary 10 he construction or proper nam
tainance oi the said plank road 10 make ali
contracts for the furnishing Of material o.
equipments for the road on such credits n,
thew may deem proper 70 borrow money
Tor and IN account of said roa III any sum
moi 10 exceed tea thousand doi'ais, unless
an horned hV a vote OF Two thirds o. the
stockholders not to exceed that sum- aud 10
age the said road and is appurienalls,
cos 70 secare the payment of the same 70
n Ike al contract for the purpose OF speed
" and properly constructing said road, and
,s1en said road orany part thereof Is finish
FL. 70 FIX the rate Of tolls for same to make
all rules aud regulations or bylaws neces-
sarv for the proper. safe ard regular tran
action OF the business of theenmrany; but
surn rule and regulations shall be rub lect
TO repeal change. amendment, or modlG'a.
ton. By the stockholders ut their meetings.
Of. by he President and Directors ia them
tnrus'c. fHau nj n Ia nd
or money, or such materials % labor Is may
be useful to the company they shall de-
clare sem;-annmly The dividends afIls NJ
from the road after the payment Of all cX-
penses Said dividends shall be declared
and made payable 70 he stock holders dur
ing the first fifteen days o. December and
June of each ar they sialI make at least
once in each year report IN full detail 10
the Stockholders, eybihiting the eXpcnccs
and profits or revenue Of the road as well as
the cost during he process Of constructing
the same as well as the repairs that may be
made thereof they shall keep OF 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
sSid book shall b. opened 70 the inspection
OF the StockholdersA'n IN ''n'e OF Inc coir-
papy.sA stock BOOK Shall be kept and Ger
iifcotes of STOCK shall b, issucd TO the
ard no transfer Of stock shall
be binding on the company until made on
lis stock book
H. If any subscriber for stock shall be
taxed by virtue of any law o. ordinance for
the payment of subscription to the company
he snail have the right of reducing the
number fhis shares By an amount equal
to that of the taxi so inposed. bat III,