New Orleans Republican., 1871-05-19

than the amount of their subscription and indebt-
edness.
No transfer ofess than one full share will be per
mitt ed.
Transferees of shares not fully paid up, shall
sume all the indebtedness thereon, under the ap-
proval OF the trustees.
ARTICLE X.
All the corporate powers of this company shall
be vested in Board of Trustees composed of
twenty-five stockholders, seven of whom shall
form quorum for the transaction of business, to
be elected by ballot annually on the fourth Tues
day in JulT, at the office of the company, of which
election the secretary shall give at least ten days
notice IN at least two newspapers published IN
this city. The Board of Trustees shall appoint
from among the stockholders, not trustees, three
inspectors of said elections and if any of said in
spectOrs should decline fail to attend the presi
dent may appoint others to ill the vacancy.
The new Board of Trustees will take their seats
on the first Tuesday in August after the election
and remain i'll office during the year following
til Others are elected i'll their stead.
Those persons receiving a plurality of votes
shall be declared duly elected Should there be no
election on the day appointed, the president shall
cause another election to be held within ten days
thereafter, upon due notice in two or more news
papers published in this city.
The Board of Trustees shall, annually. at their
hTst meeting, elect president and vice president,
VINO shall be eX Officio members of the Board of
Trustees, and they shall hold their offices until
Their successors are elected and qualified. The
president shall preside at all meetings of the Board
of Trustees and at all meetings of the stockholders
of the company, and shall conduct the business of
the company generally under the supervision of
The vice president shall preside at the meetings
aforesaid i'll the absence of the president and, in
his absence shah sign the policies OF insurance of
the company.
The trustees shall fix the compensation of all
officers and clerks employed or elected by them.
They shall have power to adopt such bylaws as
they may deem necessary for the government and
regulation of the company, not contrary to this
charter or to the acts of the Legislature of this
State relating to the organization of corporations
and to appoint agents within and out of the State
under restrictions to be prescribed by the trustees.
No person shall be a trustee of this company who
does not, al the time or his election and cOntinu-
anct in Office, own in his name or i'll the name
of the commercial firm of which he may be a MEM
Der, at least ten shares of the capital stock
thereof
Each and every stockholder shall be entitled at
on each and every share of the capital stock held
by them respectively, but stock shall be
titled to a vote which shall have been transferred
within three months previous to said election.
ARTICLE XI.
AT the time ofthe expiration of this charter or
sooner if ordered by vote of two-thirds of the
stockholders, the affairs of this cOmpany shall be
liquidated, its debts paid under the charge and SUI
perittendeDce of three commissioners to be chosen
by the Board of Trustees, who shall remain in
office until the final liquidation of the affairs of the
company; provided the entire liquidation shall not
extend beyond period of two years, after which
time the trustees may, at their option continue
the commissioners in office appoint others in
their place or stead.
ARTICLE XII.
The following named persons shall constitute the
first Board of Trustees who shall remain in office
until the second Tuesday of July, 1872, until
their successors elected and qualified and
they are hereby invested with all the rights and
powers thereunto belonging, with power to fill any
which may occur i'll their number, and
to do and perform all and every act not
herein provided for, which may be- necessary to
carry into full effect the objects and purposes Of