The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1853-05-27


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 af or the election o.
The first Boa d Of Directors the subscription
list shall be open Tor a 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
news aper published at the place where
said subscription books are opened; and the
board shall have power TO appoint agents
for rereiving subscriptions. At the end Of
said three morths. If the amount u sub
sc ,ritons sha exceed the amount Of capi-
tai required. a meeting Of stockholders
and subscribers shall be held TO determine
whether the capita shall be increased to
the whole aTo' Mt Of suf,scri piion and il
the capital he not so Increased. then the
number Of ~ ares subscribed shall be re-
diced from the largest subscription 80 as
not to diminish the number oi shares OF any
Subscriber while another remains with a
larger nunber Of shares. If there be any
deficiency IN tn. amount of capital subscrib-
ed. The said s,ibgcnption hooks may be re
o,ened and closed from time to time, until
the whole capital shall have been subscrib-
ed.
9ib. In case Of failure on the part 81 anv
Subscriber to pay the insfallments OH. biz
stock. as required, the Boa d Of Directors.
shalt have the option, after thirty days
written notice t. the defaulter, Of forfeiting
the stock, and selling it for the benefit Of
said sioe kholder, or ni compelling by suit
the payment of s,ich ius allment: and no
stoc khoder shall be permitted to vote while
IN default ~
ith. Almestings of Stockholders called
for the purpose OF increasing or diminishing
the capital stock Of the comrany or for
any ol the purposes enumerated in the fifth
section Of the act Of the Legislature OF
Louisiana entitled An art for the orgont sa-
ton Of corporations for wwks Of pnbi,t i'm
propement ard utaity,p shall be composed Of
persons 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 in the premises, a.
all other meetings Of stockholders, and, al
all elections, a majoriiy Of stock shall be
represented. and in this latter case, if such
majority be not present nor represented the
shall be adjourned for one week.
and the vote Of the majority Of til c stock
pa sent and repEcs rted 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 wear may be-
filed by vote Of the Board ef Directors.
18th. The President and Directors OF said
corporation sha have powerto to make and
ase common seal---to elect a newspaper.
which sha,l be known TO the Stockholders
as the official paper of the COMPANY, and
In which all advertisements shall appear.
anl to do every thing necessary for the
construction, repair, and maintenance of
the plank road herein before described, with
as many track as they may deem necess-
ary; to determine the line Of the road, and
the depots that may be necessary to make
and construct'a all works whatever for the
proper and complete working Of the road
10 construct all bri,lses 'er navigabie and
other streams. and whether the crossing
shal! Re 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 he capital stock OF The Com
panys TO appoint Secretary Treasurer,
Super ntendsnts. Engineers and other
oflicers or servants necessary or proper, for
he faithful performance, Of any dnty nee
m, FIN ~
iainance ofthe said plank road TO make al
contracts tor the furnishing Of material ot
equip ncnts for the road on such credits. az
hey may deem proper to borrow MONEY
for aid Oh account Of said road IN atv sum
not 70 exceed ten thou<anJ dollars, unless
by a vote oft@o thirds of the
stockholders. 10 exceed that snB, and to
mortgage the said road and its appurtenan-
,es TO secure the payment Of the same 10,
make all contracts for the purpose Of speed
Y and property constructing said road, and
when said road or any part thereof is,Gnish-
d. 10 fix the rate OF tolls, for same to make
III rules ant regulations orny-laws neces.
'ary foI the proper, safe and regular tran
,ciioso of the business If the company but
uch rules aud regulations shall be subject
o repeal, change. amendment. or modifica-
ion, bYshe stockholders at their meetings.
" by the President and Directors in the in
er,als they may accept donations in land
,r none Y or such materials or labor as may
,e useful to the company they shall de-
are se.ni-annually the dividends arising
rom the road after the payment OF all ex-
,ences. Said dividends shall be declared
md made payable tn the stockholders dur
pg the first fifteen days of December and
Iune Of each wear; they shall make at leasc
'nce in each year report in full detail to
he stockholders, exhibiting the expences
md profits OF revenue OF the roadas well as
he cost during the process OF constructing
he sane as web as the repairs that may be
made thereof they shall keep or cause to
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