The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-12-08

duced from tho largest Subscription SO al
! not to diminish the number of shares Of ar,
subscriber, while another remains with ;
larger number of shares. If there be anJ
deficiency in the amount Of capita! subscTib'
ed, the said subscription books may be re.
opened and closed from time to time, until
the whole capital shall have been subscrit
ed.
| 9Th In case of failure on the part of any
subscriber to pay the instalments On hi
stock, as required, the Board of Directors
shall have the option, after thirty days
written notice to the defaulter, of FORGETTING
the stock. and selling it tor the benefit o.
said stakeholder, or of compelling by suit
the payment Of such cnstallment and nc
stakeholder 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 IN art for the organisa-
ton of corporations for porks Of pubiic int
proven,entand utHay," shall be composed OF
persons holding in their own right. as
agents for others at least three fourtfs Of
the stock of the company, in order TO take
valid and binding action in the premises.
at ali other meetings OF stockholders, ard
At all elections, a majority Of stock shall lie
represented, and in this latter case, if such
aio,ity 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 majority of all the stock
were present and Represented.
18th. Any vacancy in the Board of Dir
ectors, occurring during the year may be
filled by vote of the Board Of Directors.
18th. The President and Directors of said
corporation shall have power to make and
use common seai-to elect a newspaper.
which Shall be known to he Stock holders
as the official paper OF the Company. and
in which all advertisements shall appear.
and to do every thing necessary for the
construction, repair, and n,aiutaiDancc q
the plank road herein before described, will
as many tracks as they may deem ueceSs-
airy to determine the line Of the road, and
the depots that may be necessary 70 make
and construct all works whatever Tor the
proper and complete working OF the road
10 construct all bridges over ma vagable aud |
other streams, ard whethc- the crossing
shall be by bridge or ferry; to contract
specially for work, labor or materials 20 be
furnished to the company. and to agree
whether the whole or any part thereof shall
be payable in the capital stock the Com |
pany; TO appoint Secretary. Treasurer.
Engineers, and other !
officers or servants necessary or proper, for |
the faithful performance, o! any duty NEG |
,SsarY to the construction or proper main |
aiuance of the said plank road to make all !
contracts for the furnishing Of material OF |
slu prnents for TIE ,oa,! on such credits "a
hey may deem proper; o borrow money !
or and Oh account Of said road in any sun |
rot 10 exceed ten thousand dollars, unless |
'uhorized by g vote of t,so thirds ofthe !
,toclho.derS not 10 exceed thai SIM and 20 |
mortgage tire said ROAD and its appartenan- |
,cs to secure the payment Of The same 10 !
make all contracts for the purpose OF speed |
= and properly cons 'ruc;iE. AID roa !, afi |,
When said road oraoY part thereof is finish !
d. 10 Fix the rate OF tolls for same 20 make |
II rules AMI regulations or bylaws ncces-
airy .ur the proper, safe and regular traa-
elton ri the business al the company: bat |
uca rule and regulations shall De subject
o repeal, change. amendment. or modiLcd-
ion, by the stoc khoidcrs at their meetings.
r by the President and Directors in tnein-
crva!s; they may accept donations in land
r money, or such materials or labor as may
u useful to the company they shall de-
lare semi annuaiiy the dividends ariis.np
rom the road after the payment Of ~ oxi
enses S:.::.ii dividend .,,, "a ana,,.al
nd male payable TO the stock holders dur
lg the first often days Of December and
une Of each year they shall make at least
nee in each year report in fill detail to
ne stockholders, exhibiting the exponces
nd profits or revenue of Ire road AS wei, as
lie cost daring The process Of constru ctina
he same as well as the repairs that may be ;
lade thereof; they shall keep or cause TO
2 kept, regular set OF books, on which
lall be entered in rerniar order al! business
other transactions Of he company. which
i'd book shall be opened to the insnectio,,
the stockholders al the Office oftEo COM
my. a stock boo, shall be kept and cer- ,
tcates of stock shall be iseued to the {
ockhoders, and no transfer o. stock siaii
; binding on the company until made On
stoc. book. I
l3. If any subscriber for stock shall be
xed by virtue OF any law or ordinance for \
g payment of subscription to the COMPANY |
shall have the right of reducing the
'mber oil his shares by an amount equal
that of the tax so imposed, bat this
,ht must be exercised within thirty DAYS
'm the date OF The law or ordinance after
h:ch term it shall not be allowed. Z.
14th An annual meeting of the stockhol- >