The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-09-28

and appointed to receive subscriptions.
All subsequent elections shall be held q
Baton Rouge under the supreintendance Of
three commissioners appointed from am
ongst the stockholders BY the Board Of Di-
rectors for the time being. Notice Of the
first election Of Directors, shall be given
fifteen days in advance, in at least one news
paper published in Baton Rouge, and one
published at Clinton The first Board Of
Directors shall hold Office until the third
Monday Of January, 1854. The election
shall be annual, and each subsequent Board
shall be elected on the third Monday of Dec
ember. A failure to elect Directors, shall
not dissolve the corporation, but the Board
in Office shall continue the exercise of its
functions until a new board can be elected.
All notice Of elections and Of meetings of
stockholders sitter the first election above
provided for, shall be given by publication
thirty days in advance, in the official paper
of the company, and in one paper published
at Clinton.
7th. The following persons are hereby
appointed commissioners for the purpose OF
receiving subscriptions to the stock Of said
corporation. Viz: Commissioners at Baton
Rouge. r. G. Morgan, s. NJ. Hart, H. T..
Waddill, A. S. Heron. Eugene Lanoue and
W. S. Pike. At Clinton. J. H. Muse. II.
H. Haynes, Henry Marston, G. ". Munday,
J. 3. Smith, VIM. Patterson and VI. 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
Jaw, 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 tor term
of three months at such places as may be
deemed advisable by the Board G.: Directors
and public notice shall be given thereof in
Il 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
said three months, if the amount of sub
scriptions shall exceed the amount of CAPT.
tai required, meeting of stockholders
and subscribers shall be held to determine
whether the capital shall be increased to
! Ill. ST tv,t, nd
the capital be not SO increased, then the
number of shares subscribed shall be re-
duced from the largest subscription SO as
not to dimsh the number of shares OF any
subscriber. while another remains with a
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 subscrib-
ed
Sth In case of failure on the part Of any
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 forfeiting
the stock, and selling it tor the benefit of
said stakeholder, or of compelling by suit
the payment of such enstallment and no
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 tor
any of the purposes enumerated in the fifth
section of the act of the Legislature Of
Louisiana entitled ''.An act for the orcanisa-
-. IF
provementand utlay," shall be composed of
persons holding in their own right. or as
agents for others at least three-fourths of
the stock Of the company, in order to take
valid and binding action in the premises.
at all other meetings of stockholders. and
at all elections, majority of stock shall be
represented, and in this latter case, if such
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
manner, as if a majority of all the stock
wsse present and represented
Tlth. Any vacancy in the Board of Dir
ectors, occurring during the year may be
filled by vote of the Board of Directors.
l2th. The President and Directors OF said
corporation shall have power to make and
use common seal-to elect newspaper,
which shall be known to the Stockholders
as the official paper of the Company, and
in which all advertisements shall appear.
aud to do every thing necessary for the
repair, aad maintainance of
the plank road herein before described, with
as many tracks as they may deem necess-