The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-11-23

subscriber, while another remains with a
larger number of shares If there be any
deficiency in the amount of capital subscribe
ed, the said subscription books may be re-
opened and closed from time to timef until
the whole capital shall have been subscrib-
ed.
sth. In case of failure on the part of any
subscriber to pay the ipstallments on his
stock, as required, the Board of Directors,
shall have the option, after thirty days
written notice to the defaulter, OF forfeiting
the stock, AID selling it Tor the benefit of
said stockholdey or of compelling by SUIT
e,pawnept such enstallment and no
stakeholder snail be permitted to vote while
in default
10th. All Of Stockholders called
for the purpd reasing or diminish
ing the capitj the company or Tor
any of the puf Iumerated in the fifth
section o! tho II the Legislature of
Louisiana cntitl1du.fn act for the organisa-
ton of corporations for porks Of p"6fic M
frouenentand mdtty,o 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 to take
valid and binding action in the premises,
at all other meetings of stockholders. and
At all elections, a majority of stock shall De
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
manner, as if majority OF all the stock
were present and represented.
18th. ANY vacancy in the Board of Dir
pctors, occurring during the year may be
filed by vote of the Board Of Directors.
18th. The President and Directors OF said
coronation shall have power to make and
use y common seal--to elect a newspaper,
which shall be known to the Stockholders
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 maintenance OF
the mark road herein before described, with
as many tracks az they may deem nccess-
arv to determine the line OF the road, and
the depots that may be necessary ; 10 make
and construct all works whatever Tor the
nroner and complete working OF the road ::
10 construct all bridges over manageable and
other streams. and whether the Crossing
shall be By bridge or ferry to contract
speciallv for work labor or materials 10 be
furnished to the company, and to agree
whether the whole OF any part thereof snail
he payable in The capital stock OF the Com
pany. to appoint Secretary. Treasurer,
Suprriutendcuts, Engineers, and other
! iii GERS or servants necessary or proper, Tor
the faitdtul performance, OF any, dirty nee
e,.arv u the con truciion or proper mann
tainanre o! the said plan'. road 10 make all
contracts for the furnishing OF material OF
equipments for the road OF such credits as
| thew NAV deem proper 10 borrow money
fer aud on acccuutpi sasl road N aGy sun
| not ~ exceed ten Thou aud dollars uniess
authorized by a vote OF two ihiris Oh the
: stockholders. not TO eNcced that sum and Il
mortgage the said road and It's appQrlenan-
&c, 20 socure the payment OF the game Il
make ali contracts for the purpose OF speed
w aud properly constructing SAID road ail'
when said road OF any part thereof IS iinlSh
el. to tx the rate OF tolls for same 10 MAKE
all rules and regulations or bylaws neces
sarv fet the proper, safe and regular tran
1 action Of the business 81 the company, bu
surh ,uIe and regulations shall be subIac
10 reveal. change. amendment, OF tlodlllca
ton. hv the stockholders at Their meetings
or bv thc President and Directors IN them
tervals; they may accept doHd}loaS ~ iah'
or money. or such materials or labor as ma,
+ be useful to the company they shaft de
clare seni-annw.lly the dividends arIisln
from the ROAD after the payment oil ali eX
penses. Said dividends shall be declare
and made payable 10 the stockholders dur
inc the first fifteen days of December an
June of each year they shall make at leas
once in each year report II inIl detail l
the stockholders, exhibiting the eXpence
f and profits or revenue OF the road as well a
tte cost during The process Of constru ciln
the same as well as he repairs that may b
made thereof: they shall keep or cause t
Ln kent. q regular set OF books, on vhc
shall be entered in regular order oil busnes
r or othef transactions oi the company, Whlc
f saiJ book shall be opened TO the inspectio
or the stockholders at the Office ofthe CON
D,nv. A stock book shall be kept and ccl
t;Gcates of stock shall be issued to tn
| Stockholders, and no transfer OF stock sha
be binding on the company until made
, its stockbook.
-. If any subscriber for stock shall b
, taxed by virtue OF any law or ordinance Il
/ the payment of subscription 70 the compan
- he Shall have the right of reducing IL
. number ofhis shares by an amount ecu
5 10 that of the tax so imposed, but tn
) right must be exercised within thirty day
= from the date Of the law or ordinance att
r which term it shall not be allowed.
e Nth An annual meeting of the stockho
{ Ar. ehnn he hold ON the first MONDAY