The New Orleans Democrat. (New Orleans, La.) 1875-1876, 1875-12-22

whole number Of said managers object 70 such
sale and transfer, then the same ca44hot be sold
g The patty Wishing to purchase, The consent
or refusal 81 Tho managers must Ire IN writing
nay bs I, g make e allow lie Transfer Q Be nsds
consent or retosa must Contain The fmll name u
the sforkholder, the number Of shares he pro-
gnaeH e sell y transfer the full name and resi-.
Ut the stock, all such written consents or refua
sails shall be preserved among the archives ofthe
corporation for future reference.
ARTICLE xt.
The original subscribers 10 the stock of This
corporation shall nj all tinne have the refusal ~
any and ~ stock proposed to be sold or trans
a aIe a :, ' ha p, ,sss ptae an sfs
auhaafihets tn become the purchasers Of anpl,
siock then those who hive become sui@ctibera
~ ur owners ~ tho stock subsequent ~ the FOR
nation If ths corporation shall have Tho refn-
sal Of the stock proposed to be sold, upon the
same terms. -
ARTICLE XII.
The stock shall he transferred only on III.
books oil tho corporation. aud the said stock or
the price thereof sought - ia transferred, shall
be liable for all demands 81 thu corporation "
what nature soeyar. whether exieha or not
against ANY, aud every atoekholder proposing u,
sal or iransfar his aioeh The stock Of eaeL and
potation Tor al demands or claims as hereinhn-
lore stated. which the corporation may have or
hold against eaeh aud every stoakholder. and The
aul,atahre ~ this article shall he written or
printed Oh the taee 81 ancli certificate pf stock,
ARTICLE XII.
The corporation shall se managed. governed
controlled. carried on aud conducted liy n board
consisting uf i've managers Ia be taken from
among The stock holders. No one can le a man.
aEet Unless 10 owns one OF more full shares ~
a ass,s sba ns s e'1 tai n"ara :" Ma
President ~ snld board. who shall hold his nfIlne
Tor ono year, nnleea foonet removed. mnori-
~ ~ the whole number VI managers tnny al any
time remove their President, mud Immediately
elect another from their own nHml'nr IN his stead
The i,oatl u Managers shall have, the right 70
nlent as they may deem right mud proper pro-
,yided the same do not Violate The nfovisohs IT
this charter, the constitution md laws Of this
Hsasa OF The United etetne
ARTICLE XIV.
The Bpatd II Managers may distribute The
duties " 10 performed bv them among their
own nnmber rs they may deem right aud proper.
The said board may engage The services Of each
employee aud suhotdnatss. OF either rs thew
may deem neeessatv aud ptopet 10 catty on tho
he known by a,ieh names az Tho hoar1 81 Mana f'
gers. may assign f. them or eaob II them, and
all II whom shall hold their respective positions
during The pleasure of said boptd.
ARTICLE XIV
The Boafd ri Managers shall meet monthly.
on such day and hour ae The board may desin.
nate, e. transact The business Of The corporation.
quorum for business. majority 81 whom shall
control The president ~ the Board II Managers.
p any. iwo. nsmbnfs II the board may call tho
eessary and proper Tor tho interest ri the eor4
potafion To- Do 30,
ARTICLE XVI.
Tho president II tbs Board Of Managers. or
the person representing stitch president shall la
the. rh.oper party upon whom judicial process
and NIL other notices shall he served
ARTICLE XVII
Should The president Of the Board Of Managers
tend to The business Of the corporation then lilo
board shall Designate some other n,sruler IL
their body ~ net 40 president pro tempore.
ARTICLE XVIII.
regular sat of books III nres,,uia sbalI l,a
kept, IN which vi the b,isipess of the corporation
allall lta regularly entered. Enid books nl,d all
,sseeipts and Vouchers Of The ao,poraion shall at
stoekhoder Of said corporation.
ARTICLE XIX.
Nj The funds u the corporation on hand shnll
be kept IN some Incorporated bank doing btsia
moss IN This city and no money shall be- drawn
dent Of he oard u Manaaers Observation-Disclosures H. , by
such poison as tbs board may designate. Tho
aurplua funds belonging To- the corporation shall
be loaned out IN interest, and secured hy first
special mortgage on well impro ysd renl estate
loented In this city. worth double the amount
loaned.
No dividend less than Ave pet cont upon Tho
amount u stock actually subseribed gbd takon
herein above stated may be declared whenever
a majority II tho whole number Of managers
may consider II for tho interest of tlie'eorpora.
ton 10 do So but no dividend shall ever bs de-
earsd until the whole amount 81 stock shall be
made equal 10 p4r. pnd In asesriaining tho par
yaue Of ibo stock. The p5onerly Pf The eorpora-
timaiad nj Its actual cash valis and no more.
ARTICLE XXI
t.seeipts OF veuchsre shall bs taken and enre-
fully preserved for MI moneys paid out. Sad
receipts shall contain tho nhnps and residence 81
tho person 10 whom tho amount was paid, and
also the purposes for which II was paid.
ARTICLE XXI.
Tho following persons shall constitute the first
Board IT nlaiagere. VIZ; Y. Warren Grieksll.
Henry y. Ogden Eugene Wpeeapian. Thomas
q W Fills and Edward Booth The aoid board
shall have power IT, Ill all vacancies ihnt may
occur therein. except MS herelnaftsf stated. by
u vote Of three fonrbs of tho whole number II
managers amy member ~ tloir board may for
cause be bod mud tle loasons for such OK
psoaa rus, +" essFp"q y ay ph spd tho
thereof. Tho accused aa have u fair and ioi
trial. mud every reasonable aud proper opportu-
nifty of defending himself.
ARTICLE XIII.
The stockholders may hy vote Of majority
in number mud amount III the whole number Of
Stockholders remove from Office oil The managors
or member Of members thereof mud olect new
board OF I'LL the places III those removed.
ARTICLE XIV.
The said corporation. through its managers
shall have the right - ACQUIRE al property roal.
personal aud mixed, 9r either, Which may BIZ
b,isineag operations. and u may in the same
manner acquire property upon which the cor
,oratpu has mortgages or lien A. security or
Othcrwise in order thus 10 protect and secure
tho Interest Of said corporation. And the said
CORPORATION shall also hive the right. through
its ipanhgera, to mortgage pledge OF sell It's
property, real personal and mixed.
ARTICLE XIV.
All meetings Of the stockholders shall be held
after twenty days advettiselnept In u fonspicu-
oi,R paft VI the paper published by tho corpora
tt,,,,s In default # lIpI tbpu in
other paper If genernl circulation IN this City.
stating the day, hour md plnca 81 such Ipesflng.
All meetings 81 the stockhoders shall be called
10 order aud presided over by the President Ut
tho I:onrd Of Managers. A majority ~ the stock
holders shall constitute n quorum 10 do bust
ness In case II n called meeting of stOckhpld-
ors. no transfer Of stock shall be made pending
ARTICLE XVI.
The managers shall be elected by The stock
holders each stakeholder casting one vote, and
n majority Of tho votes cast shall elect. Elections
for managers shail he held Mt the Office " tho
corporation after duo public notice. on the first
Monday Of October ri each and every year. and
they shall continue In Office for one ycar. or until
their auccessora are duly elected and Installed.
All officers and managers VIII hold over and
until their SUCCESSORS shall take their places.
unless otherwise decreed by q majority OF tho
stockholders In number and amount: but no
failure ~ elect managers and other officers, Or
either, shall dissolve the said corporation.
ARTICLE XVII.
In case Of failure or insolvency Of this corpo-
ration no stakeholder shall. ss stakeholder In
said corporation be liable for any sum whatever.
except for such sum ~ may still be unpaid on