Southern sentinel. [volume] (Plaquemine, Parish of Iberville [La.]) 1848-1858, 1852-08-14
they shall all be returned to the domicil of the

by law.
8. Immediately after the election of the first
Board OF Directors, the subscription lists shall be
opened again for a term of three months, when
ever the said Board of Directors may deem it ad-
visable, and public notice shall be given thereof III
a newspaper published at the place where SAID
subscription books are opened. and the Board shall
have power to appoint agents for receiving the
subscri ption. At the end OF the aidthIee months,
if the amount of the subscription shall exceed the
capital required, a meeting OF the Stockholders and
subscribers shall be held to determine whether the
Capital shall be increased to the whole amount Of
subscription. and II the Capital be not 50 increased,
then the number of shares subscribed shall be re-
duced by deductions from the largest subscTip-
tons, 50 as not to diminish the number of any
subscriber while another remains with a larger
amber of shares.
If there be amy deficiency in the amount Of
Capital subscribed, the said subscription books
may be Te-opened and closed from lime to time
till the whole Capital Shall have been subscribed.
10. In case OF failure OH The part Of any sub
scrlber to pay the Obligations assumed by his sub
scrlptlon, as required, the Board of Directors shall
have the option, after thirty days written notice
TO the detauiter. OF tOrleItlug the Stock and selling
1t for the benefit of SAID Stakeholder, or of COM
pelllng by suit, the judgment Of such instalment-
and no Stakeholder shall be permitted 10 vote
while in default.
II. All meetings of Stockholders called for the
purpose OF increasing or diminishing The capital
stock OF the Company. or for any OF the purposes
enumerated III the fifth section of the act OF the
Legislature OF Louisiana, entitled. An Act for the
organization OF Corporations for works OF public
Improvement and utllity,> shall be composed Of
persons holding in their own right, or as agents for
others, at least three-tourths OF the stock OF the
Company, III order TO make valid and binding their
action IN the premises at all other meetings OF
Stockholders. and at all elections, a majority Of
stock shall be represented; and iii 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 stock present aud rep
resented al such al journed meeting, shall bind the
Company IN the same manner as II a majority Of
all the stock were present and represented.
-. Any vacancy in the Board Of Directors DC
curing during the year, may be lllled by a vote OF
the Board OF Directors.
10. The President and Directors of said Cor
poratiou shall have power to make and use a COM
mon seal, TO elect a newspaper which shall be
known TO the Stockholders as the official paper OF
the Company, and in which all its advertisements
shall appear, and do every thing necessary for the
construction, repair and maintenance of the road
hereInbeiose described, 10 determine the line OF
the road, AMI the depots that may be necessary; to
make and construct all works whatsoever for the
proper construction and completion OF said road.
and to purchase such slaves and lands as may be
required for the same; to construct all bridges
over narigabie and other streams and canals. and
whether SAID crossing be by ferry or btIdges; 10
presc lie the width and heighlh of said bridges,
and the size OF the proper draws. when over na"l-
gable streams. for the passage OF vessels; 10 con-
tract specially for work, labor. OF materials 10 be
to the Company. and to agree whether
the whole or any part thereof shall be PAYABLE III
the capital stock OF the Company; to appoint a
Secretary, Treasurer. Superintendent, ingInttr.
Solicitor. and other officers and servants necessary
to the construction and proper maintenance OF the
said Plank Road to make all contracts for the
furnishing OF the necessary equipments and sup
plies for the road on such credits as they may deem
proper; TO borrow money Tor and on account OF SAID
road, in any sum not to exceed ten Thousand dol
lars. unless authorized by a vote of tWO-tLirds OF
the stockholders, and to mortgage the saII road
and lis appuItenances 10 secure the payment OF
the same. and shall have power to pledge or dis
pose Of all or any part Of the stock notes; to make
all the arrangements necessary for the speedy and
proper construction of said road TO purchase with
the funds of the Company. all the vehicles. teams.
and other equipments deemed by them necessary
OF useful tor the purposes OF the Company: and
when said road has been rendered passablc for the
public by It's grading and the erection Of bridges,
to fix the rates OF toll thereon, and to collect the
same: TO erect upon said road all such dwellings
aihI tSldDiiSilHItlIlS u tOit-SallItitlS dS may Vt
necessary, and suitable gates for the detention of
persons passing over the road until the toll required
has been paid TO make all rules and regulations,
and other bylaws deemed necessary toTthe proper,
safe and regular transaction OF the business OF the
such rules and regulations shall be
to repeal, change and amendment or modl-
.ticatlon, by the Stockholders, at their meetings, or
by the President and Directors, in the intervals:
they may accept donations in land or money, or
Sscb p1otarialS ,pd Iohor as nav hn ,,rafuI m tho
Company; they should declare annually the divi-
dends, if any there be, arising from the working
OF the road after the payment of all necessary eX-
penses; said dividends shall be declared and pay
able to the Stockholders within the first fifteen
days of the month of April of each year; they
shall make a report in full detail to the Stockhold-
ers up to the first day of April of each year, of the
working of the road, and its expenses and profits.
as also a detailed statement OF all contracts during
process of constructing the road and its bridges,
with an account OF the progress made: they shall
keep, or cause to be kept, a regular set of books,
in which shall be entered in the regular order of
their several dates all business or other transact
tons of the Company, which said books shall be
open to the inspection OF any Stakeholder, at the
office of the Company, during the business hours
of the day; a stock book shall be kept, and certiG-
Gates of stock shall be issued TO the Stockholders,
and no transfer of stock shall be binding on the
until made on its stock book; and TO
call a meeting of the Stockholders on the written
requisition of Stockholders representing one-itth
of the stock of the Company.
Ia. An annual meeting Of the Stockholders
shall be held on the third Monday OF each April,
to receive the annual report of the past years
operations and business of the Company, at which
meeting a full statement of the financial affairs
and other business of the Company shall be sub
mitted by the President and Directors for exami-
nation by the Stockholders and their agents.
Is. At the expiration of the Charter. or when
ever the dissolution of the Corporation shall rem
der necessary its liquidation, three Commissioners
shall be elected by the Stockholders, whose duty
it shall be to take possession of the property of the
Company, and conduct its business to a final liqui-
d%ation, on such terms and in such manner as shall
be determined by a meeting of the Stockholders;
regnlarlH convened for that purpose: and il. at the