The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1853-05-31

subscribers to be registered IN the once 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.
sth. Immediately afer the election OF
the first Boa,d OF Directors the subscription
list shall be open for 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 q
ne wspaper 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
scriptions shall exceed the amount of capi
tai required, meeting of stockholders
and subscribers shall be held to determine
whether the capital shall be increased to
the whole amount Of subscription and if
the capital be not so increased. then the
number of ST ares 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 amount of capital subscrib-
ed, the said subscription books may be re-
opened and closed from time to time, until
the whole capital shall have been subscrib-
ed
9th. In case Of failure on the part OF any
subscriber to pay the instalments on his
stock. as required, the Board of Directors,
shall have the option, after thirty days
written notice t. the defaulter, of forfeiting
the stock, and selling it for the benefit OF
said stock ckholder. or of compelling by sui
the payment of such instalIment: and no
stock kholder shall be permitted to vote while
in default.
10th. All meetings of Stockholders called
for the purpose OF Increasing or diminishing
the capital stock of the company or for
any of the purposes enumerated in the fifth
section of the act of the Legislature oi
Louisiana entitled I'm actor the orgonica-
tio,, Of corporations for worfs Of public i'm
propen,eat 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 take
valid and binding action in the premises. at
all other meetings of stockholders, and, 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 and Fepres nted at such adjourned
meeting shall bind the company in the same
manner, as II majority OF all the stock
Were present and represented.
llth. Any vacancy in the Board of Dir
ectors. occurring during the year may be
filed By vote of the Board of Directors.
18th. The President and Directors Of sait
corporation shall have power to make and
use 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 th'
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 the road, and
the depots that may be necessary to make
and construct all works whatever for the
proper and complete working Of the road :
TO construct all bridges oTcr navigabe 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 thereof shall
be payable in the capital stock OF The Com
pany to appoint Secretary Treasurer,
Superlntendents, Engineers, and otheT
officers or servants necessary OF proper tor
the faithful performance. of any duty nee
ee.ary' TO the construction or proper main
tainance of the said plank road TO make all
contracts tor the furnishing of material o.
equipments for the road on such credits a
they may deem proper to borrow money
for and on account Of said road in any sum
not to exceed ten thousanu dollars, unless
authorized by vote of two thirds OF the
stockholders, 70 exceed that sum, and to
mortgage the said road and its appurtenan-
cee to secure the payment OF the same 70
make all contracts ioT the purpose Of speed
~ 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 anG regulations OF bylaws neces.
sary foI the proper. safe and regular tran.
action Of the business oi the company; but
such rules and regulations shall be subject
TO repeal, change amendment, or InOdlhca
ton. by the stockholders at their meetings
or by the President and Directors in the in
tervaIs they may accept donations in land
or money, or such materials or labor as may
be useful to the company they shall de-
clare sem-ann nually 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 tc
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 may be
made thereof they shall keep or cause tc
La liant n -annlar cot of hooks On Hhicl