The Opelousas journal. [volume] (Opelousas, La.) 1868-1878, 1871-05-20
previous notice to such delinquent subscr


This corpo, alton may go into operation as
soon as one hundred thousand ($l00, ,000)
dollars of the capital stock is subscribed for,
and shall make use of common seal and
the device Of which shall be the coat Of
arms of the State Of Louisiana and the name
of the corporation traced thereon in the
margin thereof.
ARTICLE VI.
These articles of the association may be
modified, altered or amended and the cap
tai stock increased to any sum or amount
in the manner provided by law, with the
consent of two thirds in amount of all the
stockholders obtained in general meeting
convened after thirty (30) days notice.
Whenever any increase of capital be duly
authorized sixty days notice of the same
shall be given in at least one of the city
newspapers, within which time stockholders
shall have the privilege Of taking addi-
tional stock in proportion to the amount OF
their stock, and any share not so taken at
the expiration of that time may be disposed
of by the directors for the benefit of the
association, but not for less than par value.
ARTICLE VII.
All powers of this corporation shall be
vested in board of directors, consisting OF
eleven persons, each of whom shall own, in
his own right, at least fifty (50) shares OF
the capital stock of the association.
ARTICLE VIII.
The following persons, hercinbetore
named, or any six CO. of them, to-wlt
George D. Wilder, E. G. Wells, B. /,
Walshe, T. W. Seymour, Henry W. W.
Reynolds, A. A. Rousseau, c. B. Lucas,
J. w. Davis, E. G. Bullard, P. A. Cohen and
William Ditto shall compose and are hereby
constituted the first board of directors, who
at their first meeting, shall elect one Of
their number president said board shall
serve until superseded by their successors,
who shall be elected as provided in article
nine.
ARTICLE TX.
On the third Monday in March, 1871, and
annually thereafter, an election of elev'
en- directors by the stockholders shall bt
held at the office of the association, or al
any other place designated by the board o
directors of which election previous notice
of at least ten Q0) days shall be given II
one or more of the city newspapers.
ARTICLE K.
A plurality of votes, counting one vot'
for each share OF stock voted upon, shall b'
sufficient to elect directors, who shall, a
their first meeting after election, select ont
of their number for president of the asso
citation, who shall be elected by a majority
of the whole board, and upon whom al
citations or other legal processes shall b'
served. 1t shall be the duty of the presi
dent to preside at all meetings of the board
and in case of his absence or inability tt
act the board shall elect one of their num-
Der president pro tenn, who shall, Tor thu
time being, exercise the full powers OF pres
ident. All elections shall be by ballot, un
der the supervision of two inspectors, ap
pointed by the board at least one Veat
prior to any election.
A majority of the board shall be necessa
rv to form a quorum, and a decision of sucf
majority shall be valid corporate act
| The board shall have full power, and ar
hereby authorized to do ana perform al
acts they may deem requisite or necessary
for the interests of the company.
ARTICLE III.
ANY director being about to absent him
self for q period of ninety (90) days O.
more must nominate a substitute in hi
stead provided, said substitute shall hav
in his own right not less than fifty (sO
shares of the capital stock, and provided
also, that he shall be elected by the boare
of directors for the time being.
ARTICLE XII.
The board of directors shall appoint al
officers, clerks and agents, and may remov
the ssme ct pleasure thay shall flx tn
salaries Of, all such employees and the amoun
of security that may be required from
anv such officer, clerk and agents !; sai'
board may also delegate such power, in tn
transaction of the ordinary business Of tn
company, to committees of their own bod,
or to their officers, clerks or agents, a
they may deem expedient, and may ais
appoint agents, within or without the State
under such conditonsas to them shall seen
proper they shall also have power t.
make by laws, rules and regulations, an
to alter and amend the same whenever tn
interest of the company may require it an
shall also have power to supply any vacan
cies that may occur in the board; such va
cancies may be declared OH account of death
resignation, want of the requisite numbe
of shares, Insolvency, or absence withou
leave for three successive months.
ARTICLE XIII.
Books for the registry and transfer of tn
shares of the capital stock shall be opene
and kept subject to the restrictions directe
by the bylaws. All transfer Of stock sha
be made on said books and signed b
the shareholder, Or his attorney, and whic
/ said books the directors may close as ofte
as convenience or expediency may require
but not for longer period than ten day
at one time should any subscriber
the stock desire to transfer the same pr.
yious to full payment: having been made. h
shall be permitted to do so by substitut
of the subscription of the party purchasing
providing that the substitute subscriptio
is satisfactory to the board of directors.
ARTlcT+E XIV,
A failure from any cause to elect dire
tors ON the day named for that purpos
shall not dissolve this association, but til
directors then in office shall hold owe
until another election is held, of which n
tice shall forthwith be given as provided
article ninth, and continued until an electio
is held.
ARTICLE Ky.
| Each stockholder, at all meetings for tn
election of directors or other purposes, sha
be entitled, directly or by proxy, to or
vote for each share of stock owned or bel
by him provided, no stakeholder sha
Vote 70 in his own name over five hundre
5000 votes; and provided, also, that
shall have owned his stock at least thrt