The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1853-05-24

cause this charter, with the names OF The
subscribers TO be registered in the Office ol
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.
Sth. Immediately after the election Of
the first Boa. OF Directors the subscription
list shall be open for q term of three
months al such places as may be deemed
advisable by the Board Of Directors and
public notice shall be 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 end Of
said three months, If the amount OF sub-
seriptions shall exceea the amount Of capi.
tai required, a meeting of stockholders
and subscribers shall he held TO determine
whether the capital shall be increased to
the whole amount of subscription and il
the capital be not SO increased. then the
number of shares subscribed shall be re-
duced from the largest subscription so as
not TO diminish the number OF shares OF any
subscriber while another remains with a
larger number OF shares. If there be any
deficiency in the amornt Of capital subscrib-
ed, the said subscription books may be re
opened and closed from time 10 time, until
the whole capital shall have been subscrib-
ed. o.-.ta a-e-r
9th. In case of failure on the part OF an /,
Subscriber to pay the installments on bis
stock. as required, the Boa d of Directors.
shall have the option, after thirty days
-, 4 e A.,
the stock, and selling it for the benefit OF
said stoc khoder, or of compelling by suit
the payment Of such ins Ialiment and no
stock holder shall be permitted to vote while
in default. II
10th. All meetings Of Stockholders called
for the purpose Of increasing or diminishing
the capital stock of the comrany or for
any OF the purposes enumerated in the tfih
section of the act OF the Legislature OF
Louisiana entitled ''.i,i act} for tie 0rgdni-a-
ton of corporations for icorks cf pubic in
lrouement and utitity,V shall be CON posed Of
persous holding in their own right, or as
agents tor others at least three -fourths of
the stock Of the company. in order to take
valid and binding action i'll the premises, al
all other meetings Of stockholders, AMI, a
all elections, a majority of stock shall be
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 tn e stock
present aud repres nted at such adjourned
meeting shah bind the comrahy in the same
manner, as II majority OF all the stock
were present and represented.
I1ih tl,o D,,rI Of D;r
ectors, occurring during the year may be
filed by a vote Of the Board OF Directors.
18th. The President and Directors Of said
corporation shall have power to make and
use common seal-to elect d newspaper
which shall be known to the Stoc ckholders
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 plank road herein before described, with
as many tracks as they may deem necess-
ary; to determine the line of theroad, ana
the dcpots that may be necessary to make
and construct al works whatever for the
proper and complete working of the road :
to construct ali bridges Ell navigable an.
other streams. and whether the crossing
shall he by bridge or fer y; to contract
specially for work, labor or materials TO be
furnished TO the company, and to agree
whether the whole or any part thereo. shall
be payable in the capital stock of the Com
pany to appoint Secretary Treasurer,
Superintendents, Engineers, and Other
officers or servants necessary or proper, foi
The faithful performance, OF any duty nee
essary to the construction or proper main
tainance of the said plank road to make all
contracts tor the furnishing of material
equipments for the road on tch credits a.
they may deem proper to lofrow money
for and on acc Junt OF said road in anv sum
not to exceed ten thousanu dollars, unless
authorized by vote of two thirds of the
stockholders, to exceed that sum, and to
mortgage the said road and its appurtenan-
ces to secure the payment of the same TO
make all contracts for the purpose of speed
ly and properly constructing said road and
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 foi the proper, safe and regular tram
action of the business OF the company; but
such rules and regulations shall be subject
to repeal. change. amendment, or modifica-
ton, by the ctockhoiders at their meetings.
or by the President and Directors in the in
tervalsi ! they may accept donations 10 land
OF money, or such materials or labor as may
be useful to the company ; they shall de-
are 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 year; they shall make at least
once in each year report il, 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 repairs that NAV be