The Feliciana Democrat., 1855-09-01

tne capltal DC not so Increased, ten te NUMBER OF
shares subscribed shall be reduced by deduction from
the largest subscriptions so as not to diminish the
number of shares of any subscriber whilst another
remains with larger number of shares. II there
be !any deficiency in the amount Of capital sub
scribed 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
scriber. TO pay the instaments on his stock asrequr
ed the board Of directors shall have the option after
thirty days written notice TO the dciauiter of for
feng the stock and selling II for thebenct of said
stockholder, or OF compelling by suit, the payment
of such instalmcnt. and no stockholder shall be
permitted to vote while in default.
Sec. TO- All meetings of stock holders called for
the purpose Of increasing or diminishing the capital
stock of the company or for any of the purposes
enumerated in the 5th 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
persons holding in their own right, or as agents Of
others, Mt least Mree5fouhs of the stock of the
pany In order to make valid and binding their ac-
tons 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, IL such
majority be not present, nor represented, the meet
ing shall be adjourned for one week, and the vote
of the majority Of tbestock present. and represent
cd at such adjourned meeting shall bind the compa-
ny in the same manner Us If majority Of oil the
stock were present and represented.
Sec. ii. Any vacancy in the board Of directors,
occurring during the year, may be filled by vote
of the board Of directors
Sec. L. The president and directors of said cor
poratiOn shall have power to make and use a COM
mon seal, to elect newspaper whichsha be known
to the stockholders as the official paper of the COM
pany, and In which all Its advertisements shall ap-
pear. and to do every thing, necessary for the
structon. repair and maintenance of the rail road
hereinbefore described with as many tracts as they
ma upcp N 10 0f
road and the depots that may be necessary to make
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
nlshed to the company, and to agree, whether the
whole or any Part thereof shall bs payable in the
capital stock Of the company; to appoint secreta
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 uake all contracts for the fur
nisling 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 to
mortgage the said road and its appurtenunces 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
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-
aiOns. 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 snhect to repeal change, amend.
mcnt 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 may be useful to
the company they shall declare scm-annually the
dividend arising from the working Of the road after
the payment of all necessary expenses said divi-
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 in
full detail to the stockholders to the first days of
January and July of each year, of the working of the
road and Its expenses and profits. also q detailed
statement ofal contracts during tho process of
structing the road and its bridges, &c, with ac-
count of the progress made they shall keep, or
to be kept, regular set of books, in which
shall be entered in the regular order Of their several
dates all business other transactions of the COM
pany, which said books shall be open to the inspec-
ton of any stockholder at the Office Of the company
during the business hours Of the day; n stock book
shall be kept and certificates of stock shall be issued
to the stockholders and transfer of stock shall be
binding on the company until made on it's stock
book and to call meeting of stockholders, the
written requisition of stockholders representing
one-iilth of the stock of the company.
Sec l3 II any subscriber for stock shall be taxed
by virtue of any law or ordinance for the payment
OF subscriptions to the company, he shall have the
right of reducing the number of his shares by IN
amount equal to that of the tax imposed, but this
right must he exercise within srty days from the date
of the receipt, after which, ii shall not be allowed
Sec IA. An annual meeting of the stockholders,
shall he held on the third Monday Of each April TO
receive the annual report Of the past years opera
tions and business of the company, at which meet
ing, full statement of the financial affairs and 9th
er business of the company shall be submitted by
stockholders and their agents.
Sec l5. AT the expiration of the Charter. or when
ever the dissolution Of the corporation shall render
necessary its liquidation. three commissioners shall
be elected by the stockholders whose duty it shall
be to take possession of the property of the compa-
ny, and conduct its business to final liquidation
on such terms and in such manner as shall be deter
mined by meeting of stockholders regularly con-
yened for that purpose and If at the expiration OF
the present charter majority of the stockholders In
number and amount shall desire TO renew the same
for further term, the stockholders dissenting from
the renewal shall be bound to transfer their stock
to those desiring renewal, at Its fair value, to be
fixed by appraisers mutually drawn for that purpose
Clinton, La, Aug. II, 1855. 10 30ds
GINGER BRANDY.
NOR SALE, by the subscriber, the celebrated Gin
J. ger Brandy, an excellent stomaohic, and for per
sons afflicted with the Dyspepsia, II is valuable
je9 WM. GURNEY.