Le Louisianais. [volume] (Convent, La.) 1865-1883, 1871-06-03
ARTICLE X.

Subscriptions to The capital Stock OF this
Corporation, subsequen, to its organization, OF
the recording Of the present Act, shall be
npon the same terms as the original. Until
The whole capital Stock is taken up, the subs.
book eha'I remain open for new
but shall be closed 10 Stock
holders daring the las, three months Of each
Fl seal year Of The Company.
No transfer Of less than one full share shall
paid up shall assume all indebtedness there.
on, and the same shalt be approved Of by The
Board Of Trustees.
ARTICLE XII.
No Stakeholder, in any event, shall be
liable for losses Ct the Company, in any larger
sum than the amount Of his subscription,
and his Indebtedness to the Company.
ARTICLE XIII,
At the end Of the mo",h 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 10 a meeting
Of the Stockholders, specially called BY the
President 10 that effect. The statement thus
required, as aforesaid, shall show the profits
made, the losses incurred, and the balance, if
any, in favor Of the Company.
Out Of the ne, profits thus ascertained, a
dividend shall be declared, and paid 10 the
Stockholders, at such time and place as may
be designated by the Board Of Trustees. l, 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 unit Of five dollars and that
all such fractional sums shall be carried 10 the
credit Of Contingent account.
ARTICLE XIV.
The refusal or neglect to pay the amount OF
the subscription demandabie cash, OF Of any
balance due on the Stock no'es, shall, after
two repeated summonses of the President, At
ten days interval from one another, forfeit the
eo,rie Stock belonging TO and partly paid BY
the party or parties thus refusing or neglect.
ing to 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.
criled; and holders of certificates Of Stock 10
be The only ones entitled TO deyidends.
ARTICLE XIV.
Every share Of Stock shall en,i,le the hold
or thereof 10 one vote, until the amount o.
shares shall reach one thousand dollars; and
then, each five hundred dollars shall! be en-
titled to one additional vote, until the amount
of shares shall reach three thousand dollars
after which, each one thousand do!!aEs shall
be entitled TO one additional vote ;-provided
That all the Stock Aforesaid, emitting the holder
thereof TO vote, shall not have been trans
ferred for Z shorter period than three months
prior 10 said election.
ARTICLE XVI.
The Company may line business a
, soon as Twelve thousand dollars Of its capita
shall have been subscribed; but the fsca
= year hereafter shall commence on the frs
October Of each year.
ARTICLE XVII.
! The following named Stockholders shall
r constitute The first Board Of Trustees, ant
shall hold their seats until their successor
shall have been elected and qualified, j,
accordance with Article Five ~. Eugen'
Chene,, Louis DeL6a, Theodule Eifert, Cor
ne!ius S. Hull, John Clayton, Jules Chique'
Charles Lassaigne, Jules Dornier, Neville R
$ DeIogny, and Asis,ide Bourgeois.
ARTICLE XVIII.
1t is understood by and between the mem
y bers Of the present Corporation, that III
Steamer 10 be purchased, a. hereinabov
, mentioned, will be entrusted 10 The comman
10 Of Captain Edouard N. Ra,ies, who will Iav
exclusive executive control Of said S,eame
subject however 10 the instructions Of III
y Board Of Trustees, and who will designa'
aud select the different officers Of The Boa
:, as we'll as the crew thereof. The Captain
IL salary, snd The salary Of the other office
and crew shall be determined upon and eve
,ually established, by The Board Of Trustees.
ARTICLE XIX.
. Ii shall he the duty Of the Captain, ,hront
10 The head Clerk Of the Boat, 10 send in, once
week 10 Board Of Trustees, a report or gener
statement Of the business transactions Of Il
!. Steamer, which said report shall be call,
y and will be, the "balance sheet" Of the afai
y Of The Company Is regards the said S,eame
" and ahaII be signed both by the Clerk and Il
Captain, and duly forwarded to the Preside
V or Treasurer Of the Board.
MI H.. .=aue. ARTICLE Xxx.
H., A Tariff regulating the price Of freight Il
10 passage shall be adopted by the Board, a
70 shall be so arranged - 10 insure the con
. dencs Of Planters and Merchants, and sho
J. all how .nxious this Company i TO promo
the general Interest Of the Community.