The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1873-07-26

Iudu HIS pro IdId pIOpOTUlOll uHulI
all have had an opportunity to
subscribe; but if any stock re-
mains unsuoscribed for, after all
the incoporators shall have had
an opportunity to subscribe, then
any of the incoporators may sub
scribe for the balance and in like
manner, if there should be an in j.
crease in the amount of the capi-
tai stock, the said incorporators,
their associates or assigns, inclu-
ding all who are holders of stock
at the time of the increase of the
capital stock, shall be entitled by
preference to subscribe for the adj
ditional stock, which right shall
exist for two week from the
day the books of subscription
for the additional stock are open
/ ed, and if all be not subscribed
for as above in that time, then the
balance may be subscribed for in
one week by any of the original
stockholders, and if not all sub
scribed for in that time, then the
balance shall be disposed of as the
board of directors may direct.
The board of directors shall fix
the installments to be paid OH the
stock subscriptions. and shall
have the right to forfeit such
stock to the company, if not paid
for amending [accordingl to the
rules that may be fixed by the di-
rcctors, and may afterwards sell
such stock for the benefit of the
company, all without any legal
proceedings of formality.
Sec. Z. Be itfurtherenacted, &C.,
That the company shall open stock
books and the directors shall have
a right to determine when the
stock shall be considered full paid,
and issue the stock accordingly.
The stock certificates shall be
signed by the president of the
company and counterSigned by
the secretary and sealed with the
seal of the company, and every
certificate of stock shall import
full payment of the stock, and no
transfer of stock shall be binding
on the company until the transfer
is made on the books of the CON-
pany by taking up the stock
transferred and issuing new stock
to the transferee. No holder of
stock shall vote at an election of
directors unless he has been the
owner of such stock at least one
month before the election, as
shown by the books of the CON-
paDy.
Sec. 8. Be it further enacted, &C.,
That the directors of this compa-
ny shall have the right to fix the
guage of this road as they may
think proper and most to the in
teres. of the company, and that in
the construction and equipment
of this railroad they shall have the
right to use the stock of this com
pany in the payment for work,
materials or equipments, on such
terms as they may think best,
and shall have the right to use
the credit of the company in any
way they think best; and if they
see fit they may make such stock
as may be paid to contractors for
work, materials or equipments,
or on which they raise money in
advance of the ordinary calls, pre-
ferred stock on the income of the
road, not to exceed twenty years
from the date fixed in the con
tracts; and the directors of this
company shall have the right to
issue the bonds of this company,
to bear such rate of interest as
they may direct, and fix such
time for them to mature as they
may direct, and issue them with
coupons fer the interest thereon,
and TO secure the payment thereof
to mortgage the roadbed, depots,
water stations and other real
property owned by the company,
and the franchises thereof and
rolling stock thereon, which are
hereby declared mortgageable for
the above purpose; and also, as a
further security for such bonds,
to pledge the income of the road
for such time as they may see
proper.
! Sec. 8. Be it further enacted,
! &C., That the directors of this
i company shall have the right to
dispose OF SO much of the stock OF
this company as they may see fit,
to parishes, cities, towns or other
municipal corporations, payable in
l7ha hon0s or other obliQatlOlS Ol