The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1853-05-24
be binding on she company until made on
lie sAeele 6s,1,k

=
its stock book.
4 10. Ifany subscriber for stock shall be
taxed by virtue of any law or ordinance for
the payment Of subscription to the company,
he shall have the right of reducing the
number Of his shares by an amount equal
to that of the tax so imposed, but this
! right must be exercised within thirty DAYS
from the date Of the law or ordinance after
which term it shall not be allowed.
| 14th An annual meeting Of the stockhcl-
den hall be held On the first Monjay in
December to receive an annual report Of
the past years operation and business Of the
compenyat which a full statement Of the
financial affairs and other buipess of the
company shall be submitted BY the Presi-
dent and Directors for examination by the
stockholders and their agents.
18th. At the expiration Of the Charter, or
whenever the dissolution Of the corporation
shall render necessary its liquidation, three
commissioners shall be elected by the stock
holeers whose duty it shall be to take pos
session of the property of the company and
| conduct its busines to a fnai liquidation on
such terms and in such manner as shall be
| determined by meeting oi the stockholders
regularly convened for that purpose, and if
at the expiration Of the present chatter q
| majority OF the stockholders in number and
amount shall desire to renew the same for
a further term, the stockholder dessenting
from said renewal shall be bound totr ,nsfer
their stock to those desiring the renewal at
its fair value. to be fixed by appraisers
mutually chosen for that purpose. ..,..i
And whereas the President and Directors
of the Baton Rouge md Clinton Plank Road
Company have made application 70 the
General Assembly to amena their said
charter of incorporation, therefore
SrcrIoS L. Be it enacted Jythe Senate and
House ef Representatives. Of the State Of Lcai-
| siana in Gensrdl .Assenbly conrensd, That the
/ stock holders Of the Baton Rouge and Clin-
| ton Pink Road Company be, and they are
hereby specially created a body corporate
and polite under the conditions and limita-
tions and with all the rights, powers, duties
and liabilities recited in the preamble to
this act; and said Baton Rouge and Clinton
Plank Rord Company, SO specially created
shall have full power 10 sue and be sued,
plead and be impleaded. 5 5s sfa
SEC. 2. Be ii enacted, &c, That the ca
| pital stock OF said Company, its works and
| appurtenances shall be exempt from taxa
/ ton. .4 ..l
| SEC. 9. Be il enacted, &C., That said Com
pany shall have the right of way of sixty
| feet on either side Of the road, and the right
| -ocut and use the timber and such other ma
terals as they mag require, within one
! mile on either side OF said road, so long as
{ the land shall remain the property of the
state.
SEC. 4. Be IL further enacted, &C., That
| by vote OF two thirds of the stock holders
holding at least majority in value of the
stock of said company; said road, or any
part thereof-may, at any time, be convert
ed into Rail Road.
SEC. s. Be it further enacted, &c, That
no stockholder in said Company shall be
made in any manner liable or responsible for
| the debts or faults Of said Company, in any
further sum than the amount ofany unpaid
balance due the Company on the shares
owned by such stakeholder. }--
SEC. 6. Be it further enacted, &c, That
ia case the said Company should decide, at
| any time, under the provision of the fourth
section of this act, to convert said road into
/ a Rail Road: said stockholders shall have
! the power, by a vote of two thirds holding
at least majority of the stock subscribed,
| to increase the capital stock Of said Com
pany to sum not to exceed One Million
| of Dollars.
Sec. T. Be ii further ena1ed &c., That
aid Company shall have perpetual exis-
tence, unless said corporation is dissolved by
vote Of three fourths of it's stockholders
lolding majority of the stock, att meeting
allied specially for the purpose, or unless
said corporation fail or be insolvent 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 OF
| this act
SEC. s. BE At further enacted, &C., That
the Bird section of the Preamble to this act
be so amended as TO read thus
s;The capital stock of the company is fixed
at $3.50, 900 divided into ten thousand shares
of S25 each. A payment Of five pr. ct ontbe
amount of each share, shall be made at the
time OF subscribing; the subs equent pay.
ments shall be made in such manner and in
such sums and at such periods as shall be
fixed by the Board Of Directors. Provided
that no call shall be made for greater a.
mount than ten per ct. at one time, and that
! 60 DAYS notice of each call shall be given by
publication in one newspaper published In
Baton Rouge, which shall be known to the
stockholders as the official paper Of the Com
pany, and in one newspaper published in
Clinton Should payment OF subscription
be hereafter provided for by the Directors,
and the notes of stockholders received for
such payments made payable at fixed and
stated periods, such notice, by publication,
shall not be necessary"
SEC. o. Be il further enacted, &C., That
the 18th section of the Preamble to this act
he so amended as to authorize the Directors