Le Louisianais. [volume] (Convent, La.) 1865-1883, 1871-06-10
fHB L~0UISIANIAy..
Saturday, June 10, 1871.
ARTICLE X,

receipts slall be surrendered TO The Company
on issuing certificates of Stock.
ARTICLE X1.
Subscriptions to the capital Stock of this
Corporation, subsequent, 10 its organization, or
10 the recording of The prcsen, Act, shalt be
upon The same terms as the original. Until
the whole capital Stock is taken up, the subs.
cription book shall remain open for new
subscribers, bu, shall be closed TO Stock
holders daring the last three mouths Of each
fiscal year Of The Company.
No transfer Of less than one full share shall
be permitted. Transferees Of shares not fully
paid up shall assume all indebtedness there.
on, and the same shall be approved Of by The
Board Of Trustees.
ARTICLE MI.
No Stakeholder. in any event. shall be
liable for losses Ct The Company. il any larger
sum than the amount of his subscription;
and lis Indebtedness to the Company.
ARTICLE Kill.
At The end Of the mon,l, 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 hy the
President 10 that effect. The statement III US
required, as aforesaid, Shall shrw the profits
made, the losses incurred, and the balance, if
any, in favor Of the Company.
Out Of HE net profits thus asceriained, a
dividend shall he declared, and paid 10 the
Stockholders, at such time and place as may
be designated by The Board Of Trustees. Ii is,
however, provided tia, 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 and That
all such fractional sums shall be carried 10 the
credit Of Contingent account.
ARTICLE XIV.
The refusal or neglec, to pay the amount Of
the subscription demandable cash: or of any
balance due on the Stock notes, shall, after
two repeated summonses of the President, al
ten days int, val from one another, forfei, the
enlrie Stock belonging to and partly paid by
the party or parties thus refusing or neglect.
ing 10 comply with The requisites Of this Act,
as explained by article Nine thereof.
Certificates Of Stock 10 be only issued after
final payment of each and every share subs.
cribed; and holders Of certificates of S ock to
be the only ones entitled 10 devidends.
ARTICLE XIV.
Every share Of Stock shall en,itle the hold
er thereof 10 one vote, until the amount OF
shares shalt reach one thousand dollars; aud,
then. each five hundred dollars shall be en-.
titled TO one additional vote. until The amour,
Of shares shall reach three thousand dollars;
after which, each one thousand dollars shall
be entitled to one additional vote = provided,
that all the Stock Aforesaid, emitting The holder
thereof 10 vote, shall not have been trans.
ferred for a shorter period than three months
J prior 10 said election.
ARTICLE XVI.
The Company may commence business as
+, soon as Twelve thousand dollars Of its capital
shall have been subscribed; bu, the fiscal
Y year hereafter shall commence on the first
J October of each year.
5 ARTICLE XVII.
The following named Stockholders shall
r constitute the first Board Of Trustees, and
shall hold their seats until their successors
shalt have been elected and qualified, in
accordance will. Article Five ~. Eugene
Chene,, Louis DeLea, Theodu'e Elfcrt, Cor,
neIius S. Hull, John Clayton, Jules Chique,,
o Charles L%assaigne, Jules Dornier, Neville r.
S Delogny, and Aris,ide Bourgeois.
ARTICLE XVIII.
II is understood by aud between the mem.
bers Of the present Corporation, that the
Steamer 10 be purchased, as hereinabove
mentioned, will be entrusted TO the command
Of Captain Edouard N. Ratier, who will have
subject however 10 the instructions Of the
v Board of Trustees. and who will designate
!, and select the different officers Of the Boat
N as well as the crew thereof. The Captain;
. salary, and The salary Of The other officer
and crew shall be determined upon and even
tualIy established, ny The Board OF trustees.
ARTICLE XIX.
. II shall be The duty Of the Captain, throns|
. the head Clerk Of The Boat, to send in, once
week 10 Board Of Trustees, a report or genera
statement of the business transactions of III
Steamer, which said report shall be caiIe
- and will be, The "baIance sheet" Of the affair
= Of The Company as regards the said Steamer
y and shall be signed both by the Clerk and I'll
Captain, aud duly forwarded 10 The Presiden
or Treasurer Of the Board. i
n, ARTICLE Xxx.
A Tariff regulating the price Of freish, an
.e passage shalt be adopted by the Board, an
shall bs SO arranged as 10 insure the conf
= -.----- ~