The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-09-15


al Batoe Rouge under The superintendent
Of the commissioners hereafter designated
and appointed b receive subscriptions
All subsequent elections shall be held at
Baton Rouge under the superintendent of
three commissioners appointed from am
ongst the stockholders by the Board of Di-
rectors for the time being. etNotice 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
stoc kholders 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 publisIre4
at Clinton.
9Th. 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, Fl. I.
Waddill. A. s. Heron. Eugene Lanoue and
w. s. Pike. At Clinton. J. H. Muse. Fl.
II. Haynes, Henry Marston. CIV. Munday,
J. B. Smith. Vim. Patterson and VI. G..
Mills. The said commissioners shall have
power TO appoint deputies or agents in
nthor tNlacoc RI c,,hSr Mi
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
missoueTs shall Immediately thereafter
cause this charter, with the names Of the
subscribers 10 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 rrovid=,
ed for in the 9th Articir ot the charcr %
Sth Immediately after the election
Of the frs. Board Of Directors the sub
scriptipn list shall be opened Tor term
Of three months at such places as may he
deemed advisable by the Board of Directors
and public notice shall be given thereof in
i; newspaper published at the place where
said subscription books are opened aud the
board shall have power TO appo,n. agents
for Observation-Disclosures. Al the end Of
ss;;l three nskEths. if the amount O. sub
SYMPTOMS shall exceed the amount OF CAPT
tai required, q meeting OF stockholders
and subscribers shall he held to determine
whether the capital shall be increased to
the whole amount of subscription aud ii
the capital be not so increased. then the
number of shares subscribed shall be re-
ducei from the largest subscription SO as
not to dimish 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 subscrib-
ed. the said subscription books may De re-
opened ami closed from time to time. until
the Whole capital shall have been subscr.b-
ed.
sth. II case of failnre on the part Of any
stock. as required. the Board Of Directors,
shall have the option, after thirty days
written notice to the detaul.er of torfeitng
the stock and selling it Tor the benefit of
said stakeholder, or of compelling by suit
the payment of such enstalment aud no
stakeholder shall be PERMITTED to vote while
in default.
10Th Al, meetings of Stockholders called
for the purpose of increasing or diminish
ing the capital stock OF the company or for
any Of the purposes enumerated IN the fifth
section OF the act Of the Legislature OF
Louisiana entitled '.fa Oct for he organ ST.
fion of corporations for worts Of p"btr IN
procemenan9 aiap.' shall be composed of
persons holding in their own right. or as
agents for others at least three-fourths of
the stool, 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 sock 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
manue-. as if a majority of all the stock
were present and represented.
1lth Any vacancy in the Board of Dir
cctors, occurring during the year may ht.
filled by a vote OF the Board of Directors.
10Th. The President and Directors q! sail
corporation shall have power to make and
use a common seal--to elect newspaper.
which shall be known to the ckholders
as the official paper of the Companv. 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, with
as many tracks as they may deem necess-
airy to determine the line of the road, and
the depots that may be necessary to make
and construct all works whatever for the