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

be binding on the con, ,any until made on
its stock book. Hs8
| ia. If any subscriber for stock shall be
taxed by virtue Of any law CT ordnance for
the payment Of sub cription to the company,
he shall have the right Of reducing the
number Of his shares by an smount equal
to that of the tax 50 imposed, but this
! right must be exercised within thirty days
frorn the date Of the law or ordinance after
which term it shall not be allowed.
t14th An annual meeting Of the stockhol-
ders hall be held on the FIRST Monday in
December to receive an annual report of
the past years operation and business Of the
company Ut " which a fun statement OF the
financial affairs and other business of the
company shall be submitted by the Presi-
dent and Directors for examination by the
stockholders and their agents. goa ID ae,
18th. At the expiration Of the Charter or
whenever the dissolution ofthe corporation
shall render necessary its liquidation. three
commissioners shall be cleo ed by the stock
hoicers whose duty it shall be to take pos
,css;on ofthe property of the company and
conduct its busines to hnal li1uidafion on
uch terms and in such manner as shall be
e.erulincd by meeting of, the stoe ekholdrrs
regularly convened for that purpose, and il
Il the expiration Of thu piesent charter q
oaioyity of the stockholders la number and
l,nount shall desire to renew the same for
a further term, the stockhoider DISSENTING
from SAID renewal shall be bound to tr .nsier
herr tork TO those desiring the renewal at
It's fair value. to be fixed by appraisers
nutualy chosen for that purpose. ~ .,1
And whereas the President and Directors
# the Ba Oh Rouge nnd Clinton Plank Road
"ompany nave made application to the
General Assembly to amend their said
charter OF Incorporation. tEereiore
SecrIoS l.. Be it enacfed BY The Senate oAd
Roussy y representatives ef the STATE ef Lous-
iQno in Gensral .4,sentiy co,,ue.ed, Thatthe
took holders Of the Baton honge ana Clin-
on Pi INK Road Company be, and they are
, hereby specially crested a body corporate
md politic under the conditions and limita-
ions and with all the rights, powers, duties
| his act and said Baton Rouge and Clinton
flank Rord Company. so specially created
! shall have full power to sue and be sued,
| plead an | be implicated.
| SEC. g. Be 1t enacted, &c, That the ca
| pital stock Of said Company, its works and
! appurtenances shall be exempt from taxa
| ton.
SIC. g. Be it cnactsd. &C.. That said Com
| ,1auy shall have the right of way Of sixty
| eet on either side of the road. and the right
cut and use the timber and such other ma.
erals as they may require, within one
nile on either side Of said road, so long as
/ ne and shall remain the property OF the
| tate.
| SEC. 4. BE It further exacte5, &C.. That
| ~ vote OF two thirds Of the stock holders
| .o.ding at least majority in value of the
took Of said company; said road, or any
art thereof--rnay. at any time, be convert
d into Rail Rad. eer
SEC 5. Be it further rnacted, &c, That
40 stakeholder in said Company shall be
| made in any manner liable or responsible for
| the ebts or faults Of said Company, ia any
urther sum than the amount Of any unpaid
,alance due the Company on the shares
Jwned by such stockholder. f-G
SIC. 6. Be it further sn1etsd., &C.. That
| N case the said Company should decide, at
| anv time. under the provision of the fourth
| ;ection OF this act. to convert said road into
| Rail Road; said stockholders shall have
ne power. by a vote of two thirds holding
At least a majority of the stock subscribed,
o increase the capital stock OF said Com
nnv 10 SUN rot to exceed Cle Million
! Vi Dt.taTs. .fF -..rg
| Sfc- 7. Belt further e'sartsi. &C., That
! aid Cornpaay shall have psrpetuai exis-
! ence, unless said corpc-ation,s is dissoi ved'by
a vote Of three fourths of Is, stockholders
lolding majority Of the stock. alta meeting
allied specially for the purpose, o. unless
/ aid corporation I'll OF be iaseisenf; and In
case Of failure or insolvency, the liquidation
of its affairs shall be conducted as provided
for in the 18th section Of the Preamble ol
this act. 81 -.e se..a eFa.
SIC. s. Be It further enacted, &C., That
the 3rd section Of the Preamble to this ac'
be so amended as to read thus: --h
"The capital stock OF the company is fixed
at s25O,O00 divided into ten thousand shares
Of s25 each. A payment Of fve pr ct onthe
amount of each share, shall be made at the
time OF subscribing the subs ,quent pay
ments shall be made in such manner ard IL
such sums and at such periods as shall be
fixed by the Board of Directors. Provi6sd
that no call shall be made for greater a.
mount than ten per ct. at one time, and thai
! 60 DAYS notice OF each call shall be given by
publication in one newspaper published il
Baton Rouge, which shall be known to the
! stockholders as the Official paper Of the Com.
pany, and in one newspaper published ii
Clinton. should payment OF subscription
be hereafter provided tor By the Directors
! and the notes OF stockholders received toI
such payments made payable at fixed and
stated periods, such notice, by publication
shall not be necessary"
Sfc. Q. BE il fartter enacted, &C., Thai