Le Louisianais. [volume] (Convent, La.) 1865-1883, 1871-06-24
ARTICLE X.

receipts shall be surrendered to the Company
on Issuing certificates Of Stock.
ARTICLE ri.
Subscriptions TO The capital Stock of this
Cnrrnration, snhseqnen. to It's organization, or
TO the recording Of the present Act, shall 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, but shall be closed to Stock
holders da,ing the last three months of eacl,
ti;cal year of The Company.
No transfer Of less than ore full share shall
be permitted. Transferees of shares no, fully
paid up shall assume all indebtedness there
on, and the same shall be approved Of by the
Board of Trustees.
ARTICLE XII.
No Stakeholder, in any event, shall be
Liable for losses of the Company, in any larger
sum than The annun, Of his subscription,
and liz Indebtedness 10 the Company.
ARTICLE MIL
At The end Of the mon,h Of September. Of
each year, an annual statement, of the bust.
ness Of the Company shall be made ny the
Board of Trustees and presented TO a meeting
OF the Stockholders. specially called by tile
President TO that effect. The Statement, thus
required, as aforesaid, Shall show the profits
made, the losses incurred, aud the balance. if
any, in favor Of the Company.
Out of the net profits thus aScer,ained, 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 uni, Of five dollars and tia,
all such fractional sums shall be carried to the
credit of Contingent account.
ARTICLE XIV.
The refusal or neglect to pay The amount Of
The subscription dcmandable cash, or of any
balance due on The Stock notes, shall, after
two repeated summonSe of the President, at
ten days interval from one another. forfeit the
ent'ie Stock belonging to aud patty paid by
the party or parties thus refusing or neglect.
ing to comply with the requisites Of this Act,
MS explained BY article Nine thereof.
Certificates of Stock to be only issued after
final payment Of each and every share snbs.
crihed; and holders Of certificates OF Sock to
be The only ones entitled 10 dcvilends.
ARTICLE Nv.
Every share of Stock shall en,i,le the hold
er thereof to one vote, until the amount OF
shares shall reach one thousand dollars: aud,
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 to one additions! vote provided,
that all the Stock Aforesaid, emitting The holder
thereof 10 vote, shall no, have been trans.
prior TO said election.
ARTICLE XVI.
The Company may business MS
soon as Twelve thousand dollars of its capital
shall have been subscribed but the fiscal
year hereafter shall commence on the first
October Of each year.
ARTICLE XVII.
TIC 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 -. Eugene
Ch6ne', Louis DeLea, Theodn'e Elfcr,, Cor.
ne'ius S. Hull, John Clayton, Jules Chique',
Charles Lassaisne, Jules Dornier, Neville r.
Delogny, and Aris,ide Bourgeois.
ARTICLE XVIII.
1t is understood by aud between the mem.
bers Of the present Corporation, that the
Steamer to be purchased, as hereinaboye
mentioned, will be entrusted 10 the command
Of Captain Edouard N. Ra,ier. who will have
exclusive executive control Of said Steamer,
sHhject however 10 the instructions of The
Board of Trustees, and who will designate
and select the different officers of the Boat,
as well as the crew thereof. The Captains
salary, and the salary Of the other officers
and crew shall be determined upon and even.
lually established, by the Board of Trustees.
ARTICLE XIX.
II shall be the duty of the Captain, through
the head Clerk of the Boat, to send in, once a
week to Board Of Trustees, a report or general
statement Of the business transactions of the
Steamer, which said report shall be called
and will be, the 'balance sheep Of the affairs
of the Company as regards the said Steamer,
and shall be signed both by tile Clerk and the
Captain, and duly forwarded to the President
or Treasurer Of the Board.
ARTICLE Xxx.
A Tariff regulating the price of freight and
passage shall be adopted by the Board, and