The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-09-14

at Baton Rouge under the superintendent
of the commissioners hereafter designated
and appointed TO receive subscriptions
1 All subsequent elections shall be held at
Baton Rouge under the supreintendance Of
three commissioners appointed from am
ongst the stockholders by the Board of Di-
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
cmber A failure TO elect Directors, shall
not dissolve the corporation, but the Board
in Office shall continue the exercise OF its
functions until a 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 il advance, in the Official paper
of the company, and in one paper published
at Clinton.
7th. The following persons are hereby
| appointed commissioners for the purpose OF
receiving subscriptions to the stock OF said
corporation. Fi-: Commissioners at Baton
Rouge. r. G. Morgan. S. NJ Hart, II. 7.
Waddi!l. A. S. Heron. Eugene Lanoue and
w. ). Pike. At Clinton. J II. Muse. II.
II. Haynes. Heary Marsion. G. W. Munday,
J. B. Smith, VIM. Patterson and NJ. &.
Mills. The said commissioners shall have
power 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
missoners shall Immediately thereafter
cause this charter, with the names Of the
subscribers TO be registered in the Office of
tie Recorder OF Mortgages as required by
| law, and shall cause notice to lie given
| and an election for Directors held as provId-
ed for in the 9th. Article of the charter.
sth. lmmedMtcly 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
deemed advisable by the Board If Directors
and public notice shall be given thereof in
IA newspaper published at the place where
said subscription books are opened; and the
board shall have power to appoint agents
for receiving subscriptions. At the end of
! said three months if the amount of sub
scriptions shall exceed th,9,monnt Of capi-
tai required, meeting Of Stockholders
and subscribers shall be held 10 determine
| whether the capital shall be increased to
| the whole amount of subscri ptiSn and il
the capital be not so increased, then the
number of shares subscribed shall be re-
duced from the largest subscription 80 as
| not to dimish the number OF shares OF any
subscriber while another remains with 4
larger number Of shares. If there be any
deficiency in the amount of capital s'ibscrih-
ed, the said subscription books may he re-
opened and closed from time to time, until
the whole capital shall have been subscrib-
ed
Sth. In case of failure on the part of any
subscriber to pay the insiallnIents on his
stock, as required, the Board OF Directors.
shall have the option, after thirty days
written notice 10 the Gelaulter of lorfetiog
the stock and selling it tor the benefit Of
said stakeholder, or of compelling by suit
the payment of such enstallment and no
stockhJ der shall be PERMITTED to vote while
in default
10th All meetings of Stockholders called
for the purpose Of increasing or diminish
! ing the capita, stock of the company OF for
any of the purposes enumerated in the fifth
section OF the act Of the Legislature Of
Louisiana entitled .'.fn art for the organi.a-
ton Of corporations far morhs Of pubim I'M
prouemcn.gnd utility" shall be composed Of
persons holding in their own right. or as
agents for others at least three-fourths Of
the stock of the company. in order t" take
valid and binding action in the premises,
at al other meetings OF stockholders, and
At all elections, majority of stock shall be
represented. aud in thus latter case, if such
majority be not pre- sent nor represented the
meeting shall be adjourned for one week.
and the vote Of the majority of the stock
present aad represented at such adjourned
meeting shall bind the company in the same
manner, as il majority Of ali the stock
were present ana represented.
18th ANY vacancy in the Board Of Dir
ectnrs, Occurring during the year may be
filed by vote of the Board of Directors.
18th. The President and Directors of said
corporation shall have powerto make and
use a common seal-to electA newspaper.
which shall be known to he Stockholders
as the official paper OF the Company, and
in which all advertisements shall appear.
and to do every thing necessary for to
construction, repair, and maintenance OF
the plank road herein before described, with
as many tracks as they may deem necess-
ary: to determine the line Of the road, and
th,. IenoiS hat NAV be necessary 10 ma Ike