The Feliciana Democrat., 1855-08-25

red, meeting Of stockholders and subscribers shall
be held TO determine whether the capital shall be In
creased to the whole amount Of subscription, and II
the capital be not no increased, then the number Of
shares subscribed shall be reduced by deduction from
the largest subscriptions MS yot to diminish the
number Of shares Of my subscriber whilst another
remains with larger number of shares. II there
be amy deficiency in the amount Of capital sub
scrbed, the said subscription books may be reopen
ed and closed from time to time till the whole cap
ital shall have been subscribed.
Sec 0. In case Of failure on the part OF any sub
scribcr TO pay the nstaments on his stock asrequir
ed the board Of directors shall have the option after
fcting the stock. and selling II for the benefit of said
stockholder. or OF compelling by suit the payment
Of such installmcnt. and no stockholder shall DO
permitted to vote while In default ...,.se
Sec. 10. All meetings Of stock holders called for
the purpose Of increasing Diminishing the capital
enumerated In the 9th section of the Act of the
Legislature of Louisiana. entitled An Act for the
organization of Corporations for Works Of Public
Improvement and Utility" shall be composed Of
Others at least MreeourAs Of the stock of the COM
pany in order to make valid and binding their ac-
tions In the premises at all other meetings of the
stock holders and at all elections majority Of stock
shall be represented and In this latter case, If such
majority be not present, represented. the meet
Of the majority Of the stock present and represent
ed at such adjourned meeting shall bind the compa-
ny in the same manner as II o majority Of all the
stock were present and represented
Sec. II. Any vacancy In the board Of directors,
occurring during the year. may be filed by vote
Of the board Of directors.
Sec. IL. The president and directors Of said cor.
poration shall have power to make and use n COM
mon seal, to elect newspaper which shall be known
to the stockholders az the official paper Of the COM
In uvbfc nil fto nd nj ehoI1
pear and to do every thing, necessary for the con-
struction, repair and maintenance Of the rail road
hereinbcfore described with as many tracts as they
may deem necessary, to determine the line of the
and contract for all works whatsoever for the prop
per and complete working of said road, to contract
specially for all work. labor materials TO be fur
nished to the company and to agree whether the
whole or any part thereof shall BIS payable in the
capital stock Of the company to appoint secrcta-
ry, treasurer. superintendent, engineer. solicitors,
and other officers or servants necessary or proper
for the faithful performance of any duty necessary
to the construction and proper maintenance of the
said rail road to make all contracts for the fur
nishing Of iron, or other necessary equipments or
supplies Of the road and such credits they may
deem proper, and to mortgage the said road for the
payment of the same; to borrow money for and on
account Of said road in any sum not to exceed len
thousand dollars, unless authorized by vote Of two
thirds of the stockholders to exceed that sum- and Ia
mortgage the said road and its appurtenonces to
secure the payment of the same !; to make all con-
tracts necessary for the purpose of speedily and
properly constructing said road to purchase with
the funds of the company, oil the locomotives, en-
gines, cars, vehicles, teams, and other equipments
deemed by them necessary or useful to the purposes
Of the company and when said road Or any part
thereof Is finished to fix the rate Of toll for passen
gers and merchandise to make all rules and regu-
lations and other bylaws deemed necessary, for the
proper, safe and regular transaction OF the business
of the company; but such rules, regulations, and
bylaws shall be snbject to repeal, change, amend
ment or modification by the stockholders at their
meetings, or by the President and Directors In the
intervals they may accept donations In land or mo-
ney, or such material or labor as may be useful to
the company; they shall declare sem-annually the
dividend arising from the working OF the road after
the payment of all necessary expenses said diy
dend shall be declared and payable to the stock
holders within fifteen days OF the months OF January
and July OF each year they shall make report ~
full detail to the stockholders to the first days oil
Jannary and July OF each year. OF the working OF the
road and is expenses and profits as also detailed
statement OF oil contracts during the process OF con
structng the road and Its bridges, &C., with an ac
count OF the progress made they shall keep OF
cause to be Kept regular set OF books, In which
shall be entered In the regular order OF their severa
dates all business or other transactions OF the com
pany, which said books shall be open TO the nspec
tion OF any stockhoder, AZ tne ONCE OF inc company
during the business nonrs OF tne aay STOCK Dooi
snail De Kept ana certlcates OF STOCK snail ne issued
binding ON the COMPANY @ W until made ' ON its s stocs