Semi-weekly Louisianian. [volume] (New Orleans, La.) 1871-1872, 1871-06-01

the CONSTRUCTION ana malnIenaHce
of levees on the banks of the river |
Mississippi or its tributaries or out
lets, and further to consolidate with
any company chartered in any ofl
the said States for the same or like
purposes.
ARTICLE THIRD.
The president Of the company is
designated as the officer on whom |
citation may be served.
ARTICLE FOURTH.
The capital stock Of the company !
shall not exceed twenty-millions of
dollars, represented by two hundred
thousand shares of one hundred
dollars each. The time and man
ner of payment on stock subscribed
shall be such as will be determined
by the board of directors, who are
hereby fully empowered for that
purpose.
ARTICLE FIFTH.
On the first Saturday in April, in
the year one thousand eight hun
dred and seventy-two, and there
after, on the first Saturday in April
in each and every year, an election
of directors by the stockholders
shall be held at the Office of the cor
poration, of which election previous
notice of at least ten days shall be
given by advertisements m two
newspapers published in the city of
New Orleans.
Said election shall be by ballot;
each share shall be entitled to one
vote in person or by proxy, and a
majority of votes shall decide the
election.
ARTICLE SIXTH.
Upon this corporation going into
operation, the subscribers to this
act shall meet and select from their
own number a board of directors,
who shall hold over until the first
general election to be held in the
rear 1872, as above provided.
ARTICLE SEVENTH.
All the corpoAse powers of the
company shall be vested in the board
of directors, appointed and to be
elected as provided herein. The
said board shall elect q president,
and also a vice-president, who shall
exercise the power of the president
in case of the absence or inability
from any other cause: Of to latter
to act, and all such cher officers,
clerks and agents as shall be neces-
sary to carry out the purposes OF
the company. They sshall fix the
salaries and the company. They
shall fix the salaries and the amount
of security to be furnished by and
required from each. All officers,
except the president and all subor'
dinate employees or agents of the
company shall be removable at the
pleasure of the board. A majority
of the board shall form quorum
and the decision of a majority Of
these shall constitute a valid corpo-
rate act. They shall have the pow
er to make bylaws, rules and regu-
.ations, or to alter, amend or repea
The same whenever they shall deem
it expedent for the interests Of the
company. They may provide a sea-
with such device and motto as may
be agreed on by them. Vacancies
may be declared on account Of deatf
or resignation, and such vacancies
for the period intervening between
the occurrence and tie nextgenera
election, shall be filed by election
by the board.
The board shall have full power
| and are hereby authorized to bu.
and to sell, to mortgage and Il
) pledge such real or personal proper
! ty as may be necessary for the U.s.
and purposes of the company ant
: to borrow money by an issR o
! the bonds of the company or deher
wise, to an amount not exceeding
: the actual capital stock Of the com
pany.
The number of directors shall b
determined by the bylaws; it shal
! not be less than nine, nor more thai
1 fifteen. After the first election, n
increase in ihe members consitntin
}, tho board of directors shall take 81
|, feet until after the general electio