The New Orleans Democrat. (New Orleans, La.) 1875-1876, 1875-12-24

~ as',9 n,n ..ans,ar tha the snne ennnot bo sold
Or refusal 81 tbs giapagors must DO In IN writing
and deposited with tho persons whose duty i
s books Of s eorpor g sucb % wrs sse
consent 9r refusal must contain the full name u
Tue stg +, MI the plumber Of shares hs pro-
dence Of the proposed transfsroe. And lie price
Of the stock, oil such written consents or reiu.
snls shall DO preserved among the archives Of The
corporation for future references.
ARTICLE XII.
The original subscribers to the stock Of tbis
corporntgu shall Mt oil times have tho refusal 81
s price and s" q hsrao
and nfsr the refusal or neglect Of the original
snIseribers TO bee2me the purchasers Of sucl
~ OF owners OF tho stock subsequent to tho for
nation Of this corporation shall have tho refu-
sal ~ the stock proposed 10 be- sold. upon tho
ARTICLE XII.
The stock shall be- transferred only on tho
books oi tls corporation, and the said stock. or
DC lihble Tor all demands OF tho corporation of
what nature sgevsr. whsthsr .exigible or not
soil or transfer his stock The stock OF zach and
overy stoekhol1er shall stand pledged 10 the cor.
porati22n f?r Al Demands Or claims MS hereinbe-
hold ngainst zach and every stoekholder and tho
substance q ths article shall be- written. or
printed on the lace ~ each certificate Of stock.
ARTICLE Kill
The corporation shall be managed, governed.
controlled. carried on and conducted by II board
consisting Of five managers. 10 be taken from
among tlle stockholders. No one con be q man
hEer unless he owns ono or more full shares Of
stock u this corporation. This Board Of Man
ngers shall eleet ono ont u their own number rs
President II sud board, who shall hold his Office
for ono year. unless sooner removed, A m1ie,ri-
~ 81 tbs whole number Of managers may at any
Tine fenYve their President. aud Immediately
eeei another from their own number In his stead
The Board ~ Managers shall have tl,e right to
enact such rules and bylaws fof their govern
yided the same do NOD Violate The proyisi6,,s II
this charter. ths constitution and Laws Of this
State OF tho United btates.
ARTICLE XIV.
duties 10 bs performed by them aInong thajr
own number rs they may deem right and proper
The said board nav engags tho services of eacl
employees md subOrdingies or either. as thoy
may deem necessary and proper to curry on the
business ~ the corporation, all ~ whom shall
bs known by such n9tnea as tho Board u Mann
gers may assign ~ them or eaelI of them and
all II whom shall hold their respective positions
during the pleasure of said boatd.
ARTICLE XIV.
The Board Of Managers shall moot monthly,
Oh such day and hour ms the board may destg.
nate 10 transact the business of the eorporntioI,
And three members thereof shall constitute n
control. The president ri tho Board Of Managers.
or any two members of the board. may call the
board together Whenever. they may deem u me-
eessary and proper for tho interest III the coo.
pOthtion to do 50.
ARTICLE XVI.
The president of the Board of Managers, Or
The person representing such president shall DO
the proper party upon whom judicial prOce1s
and nl other notices shall be served
ARTICLE XVII
. Should the president 81 the Bonrd Of Managers
be absent, sick. or otherwise disqualified 10 at
tend 70 the business of the corporation then tho
board shall designate some other member VI
their body to aet as president pro tempCre.
ARTICLE XVIII.
A regular set Of books of accounts shall bs
kept, In which al the BUSINESS Of the corporation
shall bs regularly entered Said books aud MI
receipts and vou,here Of the corporation shallat
~ prppe, ti,ass be open 70 tho inspection Of any
stocklolder Of said corporation.
ARTICLE XIX.
All The funds of the corporation on hand shall
DO kept ~ some Incorporated bank doing bust
nass " this CITY. ana no money shall 20 drawn
dent Of he Board Of Managers. conutarsigned by
such person aa ne board may Designate. Tho
be loaned out on interest, and secured BY first
special mortgage on well improved real estate
located In this city worth double the amount
ARTICLE Xxx.
No dividend less than five psr. cent upon tho
amount of stock actually subscribed and taken
herein above stated may be declared whenever
n majoritI Of the whole number .of managers
eo ~ III TOR ne nt"Gest o. tbs
clarcd until tho whole. amount u stock shall be
made c1nn to par. and In asccrtajning the par
ton. real. personal and mixed, shall be cs-
tirnated NJ its actual cash value and no more.
ARTICLE XXI
Eecepts or vouchers shall bo taken and care
fully preserved for all moneys paid out. Said
receipts sli1II contain the name and Residence of
the person ~ whom the amount WINS paid, and
also the purposes for which II WINS paid.
ARTICLE xii
The following persons shall constitute the FIRST
goard 81 Managers VIZ: =. Warren Briekell.
g, ", Ellis and Edward Booth The said board
shall have power 10 FIJI oil vacancies that may
occnf he rein Gane as hsrsiaasr satcd ny
causo be expelled. and the reasons for such ex-
a D furnished WITH duly ceriied copy ID,
thereof Tho accused shall hive fair and fun
trial. and every reasonable and proper opportu-
nifty ol defending himself.
ARTICLE XIII.
The stockholders may by vote of majority
in number and amount 81 the whole number Of
remove from Office all the managers
mdae r In sm c se aa s,i new
ARTICLE XIV.
The said corporation, through its managers
shall have ths right % @dn,re al property, real.
business operations. and It may IN the same
manner acquire property upon which the cor
pDfHtiDH mas UDftEHke OF ltsJl lS bceuTlty Ut
otherwise in order III us 10 protect and secure,
the interest 81 snid corporation. And the said
corporation shall also have the right through
lis managers. 10 mortgage, pledge or sell Its
property. real. personal aud mixed.
ARTICLE XIV
All meetings Of the stockholders shall bc held
after twenty days advertisement In u eoDspieu-
ous part u the paper published by tho corpora
ton: 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
10 order and presided over by the President Of
the Board III Managers. a majority of the stock
holders shall constitute ~ quorum ~ do busl-
noss. In case Of II called meeting Of stockh0ld-
ers, no transfer Of stock shall be made pending
sgd call. '
ARTICLE XVI.
The managers shall be elected by the stock.
holders each stakeholder casting ono vote. and
u majority If the votes cast 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 sg5ry year. and
they shall continue In office for one year. or until
their successors are duly elected and Installed:
All officers and managers will hold over ana
discharge the duties Of their respective positions
until their Successors shall take their places.
unless Otherwise deereed by n majority OF the
stockholders In number and amount; but no
failure TO elect managers nnd other officers, Or