The American patriot., 1855-09-01

SUBSCRIPTIONS. Az VIE Gnu VI tAo s"u A".A 'o'S'A'
If the amount of subscription shall exceed the cap
ital required, meetingof stockholders and subscr.
bcrs shall be held to determine whether the capita
shall be increased to the whole amount OF subscrl'
ton, and il the capital be not 90 increased then the
number OF shares subscribed shsll be reduced py
deduction from the largest subscriptions so as not
to diminish the number OF shares OF any subscrl-
Der, whilst another remains witha larger number OF
shares. If there be any deficiency in'the amount
of capital subscribed, the said subscription books
may be reopened and closed from time to time uh
the whole capital shall have been subscribed
SEC Q. lncasc Of a failure on the part of any
subscriber, to pay the installments on his stock as
required the board OF directors snail nave tne oF'
ton after thirty days written notice 70 the dcauer
of forteng the stock, and selling it tor the beneit
of said stakeholder, Or Of compelling by suit the
payment OF SUCH instailnent and no stockhoider
shall be permitted to vote while IN default.
SEC. 10. All meetings OF stockhoders called ior
the purpose OF increasing or dimnishihg the capi'
tai stock OF the company or or any OF the purposes
enumerated IN the 9th section q the ACT OF the
Legislature Of Louls'alat entteo An Ac. ior ',,e
organization OF Corporations for Works OF fupiic
Improvement and Utility" !" shall be composed OF
persons holding in their own right, or as agents OF
Others at eastthree.fourths OF the STOCK O ue Co-
pany in order to make valid ana binding their ac'
tons in the premises: at all other meetings OF the
stockholders anu ut all electionsa mNorlty .! stock
shall be represented ana IN TINS iater case such
mOority be not present. nor represented, the meet
ing shall be adjourned for one week, and the vote
of the majority Of the stock present, and represen'
ted at such adjourned meeting shall bind the com.
pany in the same manner as II majority OF all the
stock were present and represented
SEC. II. Any vacancy in the Board OF Directors
| occurring during the year, may be hlled by vote
OF the Board Of Directors NV.
| SECT IL. The President and directors OF said cor
mon seal, to elect newspaper which shall be
known to the stockholders as the official paper OF
the company, and in which Ill its tsAavertsements
shall appear and to do every thing, necessary for
tile construction, repair, and maintenance OF the
rail road hereinbefore described with as many tracts
AS they may deem necessaryto deter1nne the hhe oi
the road, and the depots that may be necessary TO
make, and contract for all works whatsoever, for
the proper and complete working OF said road, to
contract specially, for all work. labor, or materials
to be furnished to the company, aud to agree,
whether the whole or any part thereof shall be pay
able in the capital stock Of the company; TO ap'
point secretary, treasurer, superintendent, engi.
neer, solicitors and other officers on servants neces-
sary OR proper for the faithful performance OF any
duty necessary to the construction and proper
maintenance of said rail road; to make all contracts
for the furnishing of ron other necessary equip
ments Or supplies OF the road, and on such credits
as 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 ten thousaNR dollars, unless author'
lied by vote OF two thlrds OF the stockholuers 70
exceed that sum, and to mortgage the sa'd roao
and its appuienances to secure the payment OF the
same to make all contracts necessary ior the pnr
4 pose OF speedily and properly constructing sad
road; to purchase with the funds oil the company
all the locomotives, engines, cars, vehicles, teams
anu other equipments deemed by them necessary
nr nsntii nj tn he
when said road or any part thereof is Hnlshed, to
fix the rate OF toll tor passengers and Mcrchandze;
to make all rules and regulations and other bylaws
deemed necessary, for the proper safe, ana regu-
lar transaction OF the business OF the company put
such rules, regulations and bylaws sim DC sup)ect
to repeal, change, amendment or modincation py
the Stockholders at their meetlngs,or by the frcsi
dent and Directors m the 'htcva's; they may nc,
ccpt donations in land or money, or such material
r1abor as may he useful to the company; they
shall declare selnannualy the dividend arising rom
the working OF the ROAD after the payment ol MI
necessary expenses sald dividend sall De occurred
and payable to the stockholders within hteen days
OF the months OF January ana July OF each year
they shall make report IN mn detal 10 inc STOCK.
holders to the frst days OF January anu ouy oA
each year. of the working OF the road and It's eXpen.
scs and profits. as also detailed statement OF all
e contracts during the process pl constructing tne
road and its bridges, &c', with an account OF tne
progress made; thcy snal keep or cause 10 DC
kept, regular SET OF DOCKS, ID which shan oe en-
tered IN the regular order OF thelr seVera' oa'es
a'i business or other urahsactohs Oh ,hc company,
whlch saa DOCKS siali DC openeo 70 'ne ilsPee.lon
OF any stockhoder' AZ the ounce oi the company
during the business hours o. the dny a s'ocS
BOOK shall be Kept ana ceH''ca'es Oh s'ock shal
be issued TO tue stockhoIaers' ana 10 transfer %
stock sha'' be phd'hs on 'ne company u''.,' ,hau'
on lts stock BOOK ana 70 c' ,ec.ns " s.o.A
holders: on .he %,,tea n, ,equs,uono u ~ M
, p'eson.'s = ,f an" ss"rar for stock shaiI i,