The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-09-24

East + eltcldIld Ue requested W P"OiAonSo VIZ
same.
The following named gentlemen, were
appointed commissioners to reopen sub |
scliption books: At Baton Rouge, T. G.
Morgan, S. M. Hart, H. L. Waddill, A. S.
Heron, F.. LaNo1e J Holt and W. S. Pike.
At Clinton, J. H. Muse, H. H. Haynes.
Henry Marston, G. w Munday, J. B. Smith
VIM. Patterson and M GMills.
The meeting adourDeaaae die.
THOS. G. MORGAN, Pre't.
VIM. S. PIKE, Secretary.
An Act for the organization Of Corpor-
ations for works Of public improve
ment and utility.
SECTION l. Be 1t enacted BY the Senate and
House Of Representatives. Of the State q Loni-
sta.a, in General assembly conuened, That
from and after the PRONUNCIATION OF this act,
1t shall be lawful for any number OF per-
SONS, not less than six, on compliance with
the provisions OF this act, to form themselves
into and constitute corporation for the fol-
lowing purposes, to wit for the construc.
ton, working and maintenance OF any rail
roads, canals, plank roads, bridges, ferries,
and other works of public Improvement,
whether within or without the limits OF
this State; for manufactures OF all kinds,
opening and working of mines, construction
and maintenance Of docks, foundries, steam
ships or other vehicles for the transportation
OF freight or passengers, and generally all
works Of public utility and advantage; pro-
vided that no corporation shall engage in
mercantile or agricultural business in gen.
eral, nor in commission, brokerage. stock
lobbing. exchange, or banking business of
any kind. -,
SEC. g Be it further enacted, &C., That
every corporation, which may be establish
ed under and by virtue Of the provisions Of
this act shall have power and authority,
first, to have and to enjoy succession by its
corporate name, for the period expressed IN
It's act of incorporation, notexceedlng TWEEN
ty-Gve years; second, to contract, sue and
be sued, in the corporate name; third, to
make and use corporate seal; fourth, to
hold, rece4e, purchase and convey under its
corporate name, property both real and per-
sonal fifth, to name and appoint such man.
ayers, directors and officers as their inter-
rsts and conveniences may require sirth,
to make and establish such bylaws for the
proper management and regulation of the
affairs of the corporation as may be neces-
sary and proper, and not inconsistent with
the provisions OF this act
SEC. 3. Be it further enacted, &C., That
every charter of incorporation made under
the authority of this act, shall contain first
the name and title of the corporation, and
the place chosen for its domicil; second, a
description of the purposes for which it is
established, the nature Of the business to be
carried on, and the designation Of the Officer
ON whom citation may be served in suits
against the company; third, the amount o.
the capital stock, the number Of shares. a.
mount OF each share and the time when anc
the manner in which payment on stock
subscribed shall be called or made fourth
the mode in which the elections Of director!
or managers shall be conducted; fifth, thu
mode of liquidation at the termination 0
the charter.
SEC. 4. Be it further enacted, &C., That thu
charters of all corporations orr ehized unde
the terms OF this act, and the original sub
scriptions made for the purpose of organizing
it saall be recorded in the Office of the re
corder Of mortgages or otter officer exercis
ing the functions of recorder of mortgage
at the place selected for the domicil of tn
corporation; and said charter shall be pub
lished in a newspaper Of said place of dom
icil, once week at least, for thirty days
but it shall not be necessary to publish tn
names Of the subscribers and any subscribe
may present, the said charter and subscrip
tons for record with recordag Of mort
cages as aforesaid.
SEC. S. Be 1t further enacted, &C., That
shall be lawful for the stockholders Of an
corporation, at the general meeting conven
ed for that purpose, to make any modifica
lions, additions or changes in their act {
incorporation. or to dissolve the corporation
provided such modification, addition, chang
or dissolution, shall receive the assent {
three fourths of the stock represented ;
such meeting and provided further that an
such modification, addition, change or di'
solution shall be recorded as is required b
the fourth section of this act
SEC. 6. Be IL further enacted, &C., LII
apy corporation established under this a
shall forfeit its charter for insolvency, ev
denced by return of no property found {
execution against, such corporation and tn
in such case it shall be the duty Of the di
trict court, of the district Of such corpor
ton, at the instance of any creditor, to d
cree such forfeiture and to appoint con
missioner for effecting the liqnidatio
whose duty it shall be to convert all the a
sets of the company, including any unpa
balances due by stockholders, on the
shares. into cash, and to distribute the san
under the direction of the court among