Le Louisianais. [volume] (Convent, La.) 1865-1883, 1871-06-17
ARTICLE X.


'ccip's shall be surrendered to the Company
n issuing certificates Of Stock,
.-,..e.t 81, ARTICLE III. -,-f
Subscriptions 10 the capital Stock Of this
Corporation, subsequent to its organization, or
the recording of the present Act, shalt be
pom the same terms as the original. Until
whole capita, Stock is take" up, the subs
ription book shall remain open for new
but shall be closed 10 Stock
daring the last three mouths Of each
seal year of the Company.
No transfer of less than one full share shall
,e permitted. Transferees Of shares no, fully
,aid up shall assume all Indebtedness there.
IN, and the same shall be approved Of Ivy The
Board Of Trustees.
ARTICLE XII.
No Stakeholder, in any event, shall be
liable for losses Ct the Company, in any larger
than the amount of his subscription,
and lis Indebtedness to the Company.
ARTICLE XIII.
At the end Of the month Of September, Of
each year, an annual statement, Of the bust.
ness Of the Company shall be made BY the
Board Of Trustees and presented to a meeting
of the Stockholders, specially called by the
President 10 that effect. The statement thus
required, as aforesaid, shall show the profits
made, the losses incurred, and the balance, if
any, ii favor Of the Company.
Out of the net profits thus ascertained, a
dividend shall be declared, and paid TO the
Stockholders, at such time and place as may
be designated by the Board Of Trustees. 1t is,
however, provided that no dividend Of less
than five dollars shall be declared, nor shall
any dividend declared contain any fractional
part Of the said unit Of FIVE dollars anc that
all such fractional sums shall be carried 10 the
credit Of Contingent account.
ARTICLE XIV.
The refusal or neglect to pay the amount Of
the subscription demandable cash, or Of any
balance due on the Stock notes, shall, afte.
two repeated summonses Of the President, a,
ten days interval from one another, forfeit The
entire Stock belonging TO and partly paid by
the party or parties thus refusing or neglect.
ing TO comply with the requisites Of this Act,
as explained BY article Nine thereof.
Certificates of Stock to be only issued after
lina! payment of each and every share subs.
cribed; and holders Of certificates Of Sock TO
be the only ones entitled TO devidends.
ARTICLE XIV.
Every share Of Stock shall cnti,le the hold
er thereof 10 one vote, until the amount OF
shares shall reach one thousand dollars; and,
then, each five hundred dollars shall be en-.
titled 10 one additional vote, until The amour,
Of shares shall reach three Thousand dollars;
after which, each one thousand dollars shall
be entitled 10 one additional vote provided,
that all the Stock iforsaid, emitting The holder
thereof 10 vote, shall not have been trans.
ferred for a shorter period than three months
prior 10 said election.
ARTICLE XVI.
The Company may commence business as
soon as Twelve thousand dollars Of its capital
shall have been subscribed; but the fiscal
year hereafter shall on the first
October of each year.
ARTICLE XVII.
The following named Stockholders shall
constitute the first Board Of Trustees, and
shall hold their seats until their Successors
shall have been elected and qualified, in
accordance with Article Five u. Eugene
chenet, Louis DeLea, Theodnie EIfert, Cor.
ne'ius S. Hull, John Clayton, Jules Chique,,
Charles Lassaigne, Jules Dornier, Neville R.
Delogny, and Aris,ide Bourgeois.
ARTICLE XVIII.
It is understood by and between the mem.
bers Of the present Corporation, that the
Steamer to be purchased, as hereinabove
mentioned, will be entrusted to the command
Of Captain Edouard N. Ratier, who will lave
exclusive executive control Of said Steamer,
subject however 10 the instructions Of the
Board Of Trustees. and who will designate
1iA SOiOC Iuo AluclCuA NAltCctS vi tuC OOdt,
as we'll as the crew thereof. The Captains
salary, and the salary Of the other officer.
and crew shall be determined upon and even
tually established, by the Board Of Trustees.
z.,,.a ~. ARTICLE XIX.
1t shall be the duty Of tie Captain, through
the head Clerk Of the Boat, to send in, once .
week to Board Of Trustees, a report or genera
statement of the business transactions Of III,
Steamer, which said report shall be called
and will be, the 'baIaucs Sheet of the affair
of the Company as regards the said Steamer
and shalt be signed both by the Clerk and tn
C.p'ain,. aud duly forwarded to the Presiden
or Treasurer Of. the Board.
ARTICLE Xxx.
A Tariff regulating the price Of f,e;gh, an.
passage shall be adopted by the Board, am
shall be 50 arranged as 10 insure the conf
dence of Planters and Merchants, and SHOW
all how anxious this Company is 10 promote
The general interest Of The Communitv.