New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-11-28

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ARTICLE FIFTH.
The Board of Directors thus elected shall
assume their duties on the Tuesday follow.
ing their election, and shall hold their
otnces until their successors are duly elected.
| Those stockholders, receiving a majority
| vote OF the stock represented at an election.
shall be considered and declared duly elect.
ed. The Board of Directors shall elect from
among themselves and fix the compensa
ton OF President, who shall be the general
manager and business agent of the Corpora
ton. The Board of Directors shall have
| full authority to fill all vacacies in their
number from among the stockholders of the
Company. And the said Board is hereby
invested with full power to frame and
adopt such bylaws, rules and regulations
as they may deem requisite and necessary
for the company and the transaction Of its
business; provided, the same do not conflict
with this act of incorporation or the laws
OF this State. The said Board shall have
power, and are hereby authorized, to buy
real estate for the use and purposes of the
company, to sell the same, to make con-
tracts, leases, mortgages and compromises,
and to borrow money, and to do all and sin.
gular such acts as may be necessary to carry
on the business and further the objects of
this company.
ARTICLE SIXTH.
In all elections the vote shall be by ballot,
and each and every stockholder shall be en-
titled to VOTE either in person or by proxy.
for each and every share which he, She Or
they, respectively, may hold, and no person
or persons shall be entitled TO vote on any
share or shares transferred to him or them
within ten days prforto such election.
ARTICLE SEVENTH,
No stakeholder shall be held responsible
for the contracts, acts, faults, debts or obi
cations Of the said Company beyond the
amount Of their unpaid capital stock, and
no mere informality in organizing shall
have the effect of rendering this Charter
null or OF exposing the stockholders to
any liability beyond the extent of their
stock.
ARTICLE EIGHTH.
The following named persons: A. L. Lee.
John N. g. Parker, Michael Hahn, Jacob
Hawkins, Thomas g. Tracy, shall be and
they are hereby constituted the first Board
of Directors, and they shall hold their office
until the first election under this charter, or
until their successors are duly elected and
shall have taken their seats.
TINS board shall assume control on and
after the first Monday in January next, It
being understood and agreed that the pres
ent management of New Orleans REPUB-
LIoAN shall continue until that time; and the
said Directors are hereby invested with all
the rights, powers and privileges appertain.
ing to their Office.
ARTICLE NINTH.
Tnls ACT OF Incorporation may be modified,
altered or amended, and additions made to
the same, or the said Company dissolved at
a general meeting to be convened for the |
purpose, after thirty days notice in one of |
the newspapers published in the city of New |
Orleans, with the assent of three-fourths of |
all OF the Stock of said Company. %
ARTICLE TENTH.
At the expiration of this Charter, or the |
dissolution of this Company prior thereto, |
the liquidation of the Company shall be |
conducted by Board of not exceeding |
three, who shall be appointed by the Board |
Of Directors, and which Board of Liquida-
tors shall immediately proceed to wind up |
the affairs Of the Company by selling off.the
assets, privileges and property of the Com
pany, collecting all amounts due the
same, paying all the just debts, and distri-
ouiing the balance pro rata among the
stockholders.
The compensation of said liqnidators shall
pc liked by the Board of Directors at the
time of appointment.
Thus done and passed in my office in New
orleans, aforesaid in the presence of HarveyI
Y. Dibble and Terence Wolfe, witnesses OF
awful age who hereunto sign their names |
With the parties and me notary, day and
late first above written. ~
Original stamped ten cents United States
Internal revenue.
Original signed A. L. Lee and others,
Harvey III. Ribbie, Terence Wolfe Witnesses,
md Henry c. Dibble, Notary Public.
Recorded In Society Book Z, folio 207.
certify the above and foregoing to be
rue anu correct copy OF the original act IN
he records of my office.
Witness my hand and seal, at New Or 1
cans, this nineteenth day Of November.
SOS. HENRY q. DIBBIR