The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1853-05-22

missioners 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 provided
for in the 9Th Article Of the charter. III 4
Sth. Immediately afer the election Of
he first Boa d OF Directors the subscription
list shall be open ter term OF three
months at such places as may be deemed
advisable by the Board Of Directors and
public notice Shall lie given thereof in a
newspaper published at the place where
laid subscriptions 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
scri iptions sha exceed the amount of capi-
tai required. a meeting OF stockholders
and Subscribers shall be held 10 determine
whether the capital shall be increased to
'he whole amount of subscription and II
the capital be not so Increased then the
number OF shaTes subscribed shall be re-
iuced from the largest subscription so a.
not to diminish the number OF shares OF an,
subscriber while another remains with Q
larger aumber OF shares. if there be an
deficiency in thu aniornt Of caplfsl subscrib.
ed, the said subscription books may be re
opened and closed from time TO time. un'l
The whole capital shall have been subscrib
ed
9th. In case Of failure on the part o; an
subscriber to pay the installrnents on hi
sock as required, the Boa d of Director,
hall have tue option, afer thirty day
written notice t, the defarlter OF oif.iiin,
the stock. and selling it for the heneii, o.
said stoc khoder or oi compelling by SUI
The payment Of such ms alIment: and ne
stock Il holder shall be permitted to vote whilt
in default.
10th. All meetings Of Stockholders called
for the purpose of increasing or diminishing
the captai stock Of the comrany or fo'
any OF the purposes enumerated in the flili
section of the act OF the Legislature o.
Louisiana entitled FIN act for iae organ'za "a
tio,l of corporations for works Of pu6l,c I'M
prouement and utility" shall be composed o.
persons holding in their own right, or a
agents for others at least three-fourths oi
the stock Of the company. in order to TAX
valid and binding action in the premises.
all other meetings of stockholders, AMI,
all elections, a majority oi stock Shall bt
represented. and in this latter case, ii suc
majority be not present nor represented thf
meeting shall be adjourned for one week
and the vote OF the Uajurity of tn stoch
pr sent and repres nted at such adjourn.,
meeting shall bind the comTany in the sam
manner, as If majority OF all the stocs
were present AID represented.
1lth. Any vacancy in the Board of Dir
ectors, occurring during the year may b,
fiiled by vote OF the Board oil Directors.
l2;h. The President and Directors of sal
corporation sha have power to make an,
use common seal--to elect newspaper
which sha,l be known to the Stoc khoider:
as the official paper OF the Company, an'
in which all advertisements shall appea
and to do every thing necessary for ti'
construction, repair, and maintenance o
the plank road herein ',etore described, will
as many tracks as they may deem neccs>
ary; to determine the iine OF The road, an,
the depots that may be necessary to max,
and construct all works whatever for tn,
proper and complete working OF the road
10 construct all bridges er Davlsablc an
other streams. and whether the crossn!
shall Re by bridge or fer J; TO contrac
,peclal!y for Work, labor or materials to bt
furnished to the company, and to agre,
whether the Whole or any part thereof shai
be payable in the capital stock OF tise Coz.
pany TO appoint d Secretary Treasurer
Superintendents, EUgmeers, and othe
Jificers or servants Necessary or proper, 10
ne faithful performance, ot any duty nee
t,sary to the construction Or proper main
iainance Of the SAID plank road to make al
contracts tor the furnishing OF material o
equip cents for the road on 81 ch credits a
ney may deem proper; to to;tow none,
Tor and on account OF said rod IN any sun
.,ot to exceed ten thousanI dollars, uDles
authorized by vote OF two thirds o. thr
took holders, TO exceed that suCl, and t.
,nortsa.. the said road and It's appuftenan
ceS 10 secure the payment OF the same Il
make all contracts for the pur 'ose OF speed
y and properly constructing said road, am
when said road or any part thereof Is finish
ed. to fix the rate of tolls for same to max,
all rules ant regulations or oy-laws neces
sary toI the proper, safe and regular tran
action oil the business of the company; bu
such rules and regulations shall be subjec
10 repeal, change. amendment, or moditica
ion, by the stockholders at their meeting,
or by the President and Directors in the in
r.sls they may accept donations in lam
OF mopey, or such materials or labor as ma
oe useful to the company they shall de
; are serni-annualiy the dividends arisiu.
from the road after the payment OF all ex
pcncss. Said dividends shall be declares
and made payable to the stockholders dur
ing the first fifteen days OF December am
June Of each wear; they shall make at leas
once in each year report in full detail t
the stockholders, exhibiting the expence
and profits or revenue Of the roadas well q