The New Orleans Democrat., 1875-12-29

Whole number Of said managers object 10 such
safe ana TRANSFERS then the same cannot be sold
70 TO tns s party Wishing s to purchase The consent
may be 70 make q allow the transfer 10 be made
| on the books OF the corporation. Such written
consent or refusal must contain the full name of
| The stakeholder, the number Of shares he pro-
poses 70 sell or transfer the full name and resi-
denee OF the proposed transfsree. And the price
OF the stock. all such written consents or refu.
sails shall be preserved among the archives Of the
corporation for future reference.
ARTICLE XII.
The original subscribers to the stock OF this
eorporatop shall ut all times have the refusal Of
any and all stock proposed to DO sold or trans
snd asr s the refsai dp ean @ of ths nrr"s
subscribers to become the purchasers OF such
stock, then those who have become subscribers
to or owners OF the stock subsequent to the for
nation OF this corporation. shall have the refu-
sal OF the stock proposed to be sold, upon the
'''' - ' ARTICLE XII.
The stock shall be transferred only on tho
books Of the corporation and the said stock or
the price thereof, sought to be transferred shall
be liable for all demands Of the corporation OF
what nature soever, whether exigibe or not,
against any and every stockhoider proposing to
sell Or transfer his stock the stock 9f each and
ppration for all demands claims as hereinbe-
fore stated. which the corporation may have or
substance Of this article shall be written or
printed on the face of each certificate of stock.
ARTICLE XIII.
The corporation shall be managed governed.
controlled. carried on and conducted by board
consisting Of Ave managers. to be taken from
among the stockholders. No one can be man
ager unless he owns ono or moro full shares OF
stock OF this corporation. This Board OF Man.
ayers shall elect ono out Of their own number ~
President Of said board who shall hold his Office
for one wear, unless sooner removed. majofi-
m ftnT A m nprep pluu AZ
time remove their President. and Immediately
eect another from their own number In his stead
enact such rules and bylaws for their govern
mont MS they may deem right and proper pro-
yided the same do not violate the, provisions of
this charter. the constitution and laws OF this
State OF the United States.
ARTICLE XIV.
The Board Of Managers may Distribute tho
duties to be performed by them among their
own number as they may deem right and proper
The said board NAV engage the services of each
employee and subordinates, or either as they
nay deem necessary e and proper 70 carry on tho
business of the corporation, all Of whom shall
be known by such names as the Board Of Mama
gers &c $, may assign to l then or each q them and
during the pleasure Of said board.
ARTICLE XIV.
The Board Of Managers shall meet monthly.
on such day and hour as the board may desig,
nate. to transact the business Of the corporation
And three members thereof shall constitute q
quorum Tor business. majority Of whom shall
control. The president Of tlte Board Of Managers
or any two members Of the board. may call the
board together whenever they may deem it me-
eessary and proper for the interest Of the corr
poration 10 do So
ARTICLE XVI.
Tlr, president Of the Board Of Managers. or
the person representing such president shall be
the proper party upon whom judicial process
and all other notices shall be served.
ARTICLE XVII.
Should the president OF the Board OF Managers
be absent. sick. O otherwise nguual fgd III at
tend 10 the business Of the corporation then the
board shall designate some other member ef
their body TO act as president pro tempore.
ARTICLE XVIII
A regular set Of books Of accounts shall be
kept, IN which all the business Of the corporation
shall be- regularly. entered. Said books and all
reeeipts and vouchers OF the corporation shall at
all proper times be- open to the inspection Of any
stakeholder Of said corporation. :
ARTICLE XIX.
All the funds of the corporation on hand shall
he kept in some Incorporated bank doing busi-
ness IN this city. and no money shall be drawn
therefr,9,pn IN except gRGn the check q The pres-
such person rs the board may designate. The
surplus funds belonging to the corporation shall
he loaned out ON interest, and secured by first
special mortgage ON we'll improved real estate
located in this city, worth double the amount
loaned ..
No dividend less than five per cent upon the
amount Of stock actually subscribed and taken
shall ever be made; dividend not less than
herein above stated may be declared whenever
MAJORITY 81 ag or wh2e I aaqae e q H.
ton to do 50. but no dividend shall ever BE- de-
elared until the whole amount Of stock shall be-
made equal to par and in ascertaining ths par
value of the stock. the property Of the corpora
tion. real. personal and mixed, shall be es-
timated 1T its actual cash vaiuo and no more.
ARTICLE XXI.
Receipts OF vouchers shall be taken and care
fully preserved for all moneys paid out. Said
receipts shall contain the name and residence OF
the person 10 whom the amount was paid, and
also the purposes for which 1t was paid.
ARTICLE XXI.
The following persons shall constitute the first
Board Of Managers, viz: ., Warren BrickeIl,
Henry D. Ogden Eugene Waggaman, Thomas
G. W. Ellis and Edward Booth. The said board
occur therein. except as hereinafter stated. BY
u vote Of three-foufths of the whole number OF
% asg nnS G 2 esf ssaoa o1 sr
pulsioil must be assigned in writing. and the
accused lnrnished l With 2 duly eertiiled copy
trial and every reasonable and proper 0pportu-
nifty of defending himself.
ARTICLE XIII
The stockholders may by vote Of majority
in number and amount OF the whole number OF
or member or members thereof, and elect q new
| board or I'LL the places Of those removed.
ARTICLE XIV.
| The said corporation, through its managers
snail nave the FIRUi 10 dSpUlTB III
personal and mixed, or either, which may be
necessary 10 enable it to carry on its Legitimate
/ business operations, and 1t may IN the same
manner acquire property upon which the corr
1 poration has mortgage or lien as security or
! otherwise. in order thus to protect and secure
/ the interest of said corporation. And the said
] eorporatiou shall also have the right, through
! It's managers to mortgage, pledge or sell IT'S
property. real personal and mixed
ARTICLE XIV.
! All meetings Of the stockholders shall be held
after twenty days advertisement in a conspicu-
olls part Of the paper published by tho corpora
| tion. in default OF such paper. then in some
other paper Of general circulation in this city,
stating the day. hour and place Of such meeting,
All meetings Of the stockholders shall be called
| to order and presided over by the President Of
the Board Of Managers majority Of the stock
holders shall constitute a quorum TO do. bust
ness. In case of a called meeting of stoekhosd-
ers, no transfer OF stock shall be made pending
said call. rA
The managers shall be elected by the stock
holders each stOckholder casting one vote and
majority Of the votes east shall elect. Elections
! for managers shall be held at the Office OF tho
corporation after due public notice, on the first
Monday Of October Of each and every year and
they shall continue In of6ee for one year. or until
their successors are duly elected and installed
All officers and managers viii hold over and
discharge the duties of their respective positions
unless otherwise deereed by a majority of the
| stockholders in number and amount; but no
failure b. elect managers and other officers. or
1boi slCat tff eaid