The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1853-05-21

subscribers TO be registered in the Office oi
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.
9Th. Immediately after the election Of
the first Boa d Of Directors the subscription
list shall be open t0r term Iof three
months al such places as may de deemed
advisable by the Board Of Directors and
public notice shall lie given thereof in a
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 eud OF
said three months. if the amount OF sub
scriptions sha 4 exceed the amount Of capi-
tai required, meeting of stod kbolders
and subscribers shall he held to determine
whether the capital >.ail bssjuc1aesed to
the whole amount OF subscription i and Il
fhe capital he not so increased then the
number of shares subscribed shal be re
duced from the largest subscrirtin 50 al
not to diminish the number OF shatrs o! anl
subscriber while another remains with 8
larger nulnber Of shares If there be an
deficiency in III" amount Of capita subscrih-
ed, the said subscription books may be re
opened and closed from time 10 time. untl
the whole capital shall have been Isubscrib
ed.
9Th in case Of failure on the part Of an
subscriber to pay the nstallmen IS on hi,
stock as required, the Boa d of Directors
shall have the option, afer tn rty day
written notice t, the defauiter, Of foif'itin.
the stock, and selling it for tae ren,ii o
said stoc holder. or OF compelling by SUI
the payment of such ins aiment: and n
stock holder shall be permitted to vote whil'
10 default
10th. Al meetings Of StockholE Hers called
for the purpose Of increasing or dlmi nishinl
the capital stock of the company or f,l
any OF the purposes enumerated In the fifif
section of the act Of the Legislature OF
Louisiana entitled fin act for tho Orgnn'.a-
lion of corporations for Works Of Pub'tc I'M
prouemenf and utility" shall be composed OF
persons holding in their own right, or a
agents for others at least three-fourths OF
the stock of the company. in order to taxi
valid and binding action in the premises, a
all other meetings of stockholders, AMI, a
all elections, majority Of stock shall be
represented, and in this latter case, if suci
majority be not present nor represented the
meeting shall be adjourned for one week
and the vote of the majority Of tn stock
pn sent and repres nted at such adjourned
meeting shall bind the company in the sam,
manner, as il a majority OF al the stock
were present aid represented.
1lth. Any vacancy in tie Bbard Of Dir.
ectors, occurring during the year may b,
filed by a vote OF the Board OF Directors
10Th. The President and Directors of saic
corporation sha ! have power to make all,
use a common seal---to elect a newspaper
which shall be known to the Stakeholder.
as the official paper of the Company, an'
in which all advertisements shall appear
and to do every thing necessary for th'
construction, repair, and maintenance o
the plank road herein before de scribed, will
as many tracks as they may deem necess
ary to determine the line Of the road, ant
the depots that may be necessary to max
and construct all works whatever for tn,
proper and complete working Of the road
to construct all bridges er nhvigabIe an'
other streams, and whether the crossln:
shall he by bridge or fer y f; to ContIsc
specially for work, labor or materials 10 be
furnished to the company, and to agre,
whether the whole or any part thereof sha
be payable in the capital stock of he Com
pany; to appoint a Secretary Treasure
Superlntendents, Englneers, aud othr
officers or servants necessary or proper. TO
he faithful performance, OF any duty nee
t,sary TO the construction or proper malu
ta,lance oi the said plank road 10 make ID
contracts Tor the IuI.Isnlns y. h,at,ridi %
equipments for the road on So ch c.edts
they may deem proper; to borrow none,
for and on account of SAID rDid IN any sun
not to exceed ten thousan dollars urle
authorized by vote OF two thirds of tht
stock holders to exceed that sum, and t,
mortgage the said road and its appurtenan
ces to secure the payment of the same tt
make all contracts for the pur ose OF speed
ly and properly constructing said road, ane
when said road or any part thereof is finish.
ed, to fix the rate Of tolls for same to make
all rules and regulations or bylaws neces
sary fol the proper, safe and regular tran.
action of the business of the company bu
such rules ani regulations shall be subject
TO repeal, change. amendment or nodifica.
ton, by the stockholders at their meetings
or by the President and Directors in the in.
tervals they may accept donations in lane
OF money, or such materials or labor as may
be useful TO the company they shall de.
are seni-annually the dividends arising
from the road after the payment OF all ex-
pences. Said dividends shall be declared
and made payable to the stockholders dur.
ing the first fifteen days of December and
June of each wear they shall make at least
once in each year report in full detail to
the stockholders, exhibiting the expences
and profits or revenue of the road as well as
the cost during the process of constructing
the Same as well as the repai irs that may be
made thereof; they shall keep or cause tc