The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-09-11

~ O3V9a As0oSe uk>ucS Tue SupI6luCe0OeuCe
Of the commissioners hereafter designated
and appointed to receive subscriptions
All subsequent elections shall be held al
Baton Rouge under the superintendent 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
ember. 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 in advance, in the ofii.:ial paper
OF the company, and in ole paper published
at Clinton.
TIN. The following persons are hereby
appointed commissioners for the purpose of
receiving subscriptions to the stock of said
corporation. Ti:: Commissioners at Baton
Rouge, T. G. Morgan, S. NJ. Hart, II. T.
Waddill, A. S. Heron. Eugene Lanoue and
W. $. Pike. At Clinton. J. H. Muse. II.
II. Haynes, Henry Marston. CIV. Munday,
). B. Smith, VIM. Patterson and NJ G.
Mills. The said commissioners shall have
power to appoint deputees or ageuts 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
the Recorder of Mortgages as required by
law, and shall cause notice to be given
and an election for Directors held as provid-
ed for IN the 9th Article of the charter.
sth. Immediately 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 of Directors |
and public notice shall be given thereof in |
il newspaper published at the place where ,
said subscription books are opened; and the |
board shall have power to appoin. agents |
tor receiving subscriptions. Al the end of |
said three months. if the amount Of sub
'crlptlons shall exceed the amount of capt.
tai required. meeting of stockholders
and subscribers shall be held to determine
whether the capital shall be increased to
he whole amount of subscription and if
he capital be not so increased, then the
number of shares subscribed shall be re-
iuced from the largest subscription so as
lot to dinlish the number of shares of any
ubscriber. while another remains with a
arger number of shares. If there be any
efficiency IN the amount of capital subscrib-
d, the said subscription books may be re-
pened and closed from time to time, until
he whole capital shall have been subscrib-
Sth. In case of failure on the part of any
to pay the instaIlments on his ,
took, as required, the Board of Directors, ;
hall have the option, after thirty days
'ritten notice to the defaulter, of FORGETTING
le stock. and selling it for the benefit of {
aid stockholder, or of compelling by suit {
he payment of such enstallment and no
,ockholder shall be PERMITTED to vote while {
l default
10th. All meetings of Stoc kholders called
n the purpose of increasing or diminish
K the capital stock of the company or for
ny Of the purposes enumerated in the fifth
,ction of the act of the Legislature of
ouisiana entitled ''.An act for the organisa- c
on Of corporations for ,corks Of public i'm
-oUementand utility" shall be composed of 7
ersons holding in their own right, or as
gents for others at least three-fourths of n
Re stock of the company, in order to take '
al,d and binding action in the premises, I
all other meetings of stockholders, and Il
t all elections, majority of stock shall Dc e
presented, and in this latter case, if such n
ajority be not present nor represented the h
Getting shall be adjourned for one week, Il
ID the vote of the majority of the stock "
esent and represented at such adjourned O.
Getting shall bind the company in the same Il
amer, as if a majority of all the stock
ere present and represented.
1lth. Any vacancy in the Board of Dir n
tors, occurring during the year may be t.
led by vote Of the Board of Directors. NJ
10Th. The President and Directors of said Sc
rporation shall have power to make and bl
e a common seal-to elect a newspaper. 81
lich shall be known to the Stockholders al
the official paper of the Company, and CT
which all advertisements shall appear. m
d to do every thing necessary for the W
Instruction, repair, and maintenance of ra
, plank road herein before described, with m
many tracks as they may deem necess- |
/; to determine the line of the road, and m
; depots that may be necessary to make be
Il afx e h.,