The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-10-21
CHARTER OF THE COMPANY.

to said Company.
CHARTER OF THE COMPANY.
list. The said corporation shall be called
the '.i3aton Rouge and Clinton Plank Road
Company and its donicile is fixed in the
the city Of Bator Rouge. !.
End. The said corporation is established
for the purpose Of constructing. working,
and maintaining plank road from Baton
Rouge To Clinton Louisiana. and from thence
hereafter to be continued to Liberty in
Amitc County, State of Mississippi should
a company be formed in Amite County to
connect at the State line.
3r,l The capital stock of the Company
IS fixed at One Hundred Thousand Dollars
divided into four thousand shares at twenty
five dollars each. A payment of five per
cent on the amount Of each share shall be
made. within thirty days after the election
of the first Board Of Directors The suisse
auent payment shall be made in such sums
and at such periods as shall be fixed by the
Board Of Directors Provided That no
call shall be made, for .reater amount than
ten per cent. at one time, and that sixty
DAYS notice of each call shall be given, by
publication in one newspaper published in
Baton Rouge which shall be known to the
stockholders rs the official paper Of the
Company, and in one newspaper published
at Clinton.
4th. The said corporation, shall 60 into
operation and be organized, SO soon as
shares Of stock to the amount Of Thirty
Thousand Dollars shall have been SUBJ
scrbed.
9Th. The business OF the corporation shall
br conducted at it's domicil, in the city of
Baton Rouge by Board composed Of seven
Directors, who shall be stockholders. The
Directors shall elect one Of their body as
President OF the Company, at their first
meeting after their election. A quroum to
transact business shall consist OF at least
three members and the President or any
four members of the Board. Al all elections
by the stockholders, and at all their meet
ings each share shall be entitled to one vote
Votes may be given in person or by proxy.
The President Of the Company is the officer
designated as the one on whom legal service
Of all process or citation against the Com
pany may be made, and the company agree
to be bound, by service Of process or cita-
ton, whether made on the President in
person, or to his address. at the Office Of the
company in the hands Of any Of its officers.
9Th The first Board Of Directors 81 all
be chosen as soon as the list Of subscription
shall be closed. This election shall be held
at Baton Rouge under the superintendent
OF the commissioners hereafter designated
and appointed to receive subscriptions
All subsequent elections shall be held al
Baton Rouge under the superintendent of
three commissioners appointed from am
ongst the stockholders by the Board Of Dr.
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 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
thirty days in advance, in the official paper
Of the company, and in one paper published
at Clinton.
It'll The following persons are hereby
appointed commissioners for the purpose of
receiving subscriptions TO the stock OF said
corporation Vi= Commissioners at Baton
Rouge, T. G. Morgan. S. NJ. Hart, H I.
Waddii, A. S. Heron Eugene Lanoue and
w. s. Pike. At Clinton. J. II. Muse. II.
II. Haynes, Henry Marston, Nv, Munday,
J. B. Smith, VIM. Patterson and VI. 6.
Mills. The said commissioners shall have
mower 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
m,ssoners 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.
9Th. Immediately after the election
of the first Board Of Directors the sub
scription list shall be opened tor term
Of three months at such places as may be
seemed 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
hoard shall have power to appoint agents
for receiving subscriptions. At the end Of
said three months, if the amount of SUBJ
scr,ptions shall exceed the amount of capi.
.al required, meeting of stakeholder.
,rId subscribers shall be held to determine
whether the capital shall be increased to