The New Orleans Democrat. (New Orleans, La.) 1875-1876, 1875-12-26

whole number Of said managers object to sucl
to the a,tv w,sh ,neh tue came cannot be sole
and es ann- n sst eapaers must be II writing
on the books Of The corporation H,,"b w, ,e
. consent % refusal muat contain the ftll name .,
poses 70 sell or ransisr The f n s nn NJ l prg
dence q the proposed transferee. And The nrine
81 IN. sh st9fa all aneh written consents OF si
corporation for future reference " ''e
!, ARTICLE III.
The original suhscribers to the staak of this
corporation shall ut all times have tho refusal ~
terred Mt the proposed prize and terms traf
and after the refusal or neglect Of the original
stock, then these who havn hr,,,n,a s,,urrihn,,s
to u owners Of tho stock subsequent 10 Tho for
mYtl9n pt this corporation. shall have The tei,l.
ssn ~ .ne s'oek proposed to DO sold. upon the
ARTICLE XII.
The stock shall be transferred only ON ,be
the price thereof. sought TO be transferred. shali
b9 liable for all demands OF the corporation ri
ssus a y s every w sssRssss q not
sell OF transfer hs stuck the stock OF each snI
every etoekhcder shall stand pledged to Tho cor
lore stated, which the corporation may havn ~,
nou aaalnst eanh and every stonkholer and the
su .!s.t Yf this article shall be written or
printed on the face OF each certificate Of stock.
ARTICLE NH.
The corporation shall be managed, goverped
eontifuliee, carried on aud conducted by board
anmsan W.. 81 iiye I9a,laeeTa to be taken from
aasa ui ny ne OWNS pne OF org full sharee Of
a.ook q .,ls ,eerporation This Board Of Man
President Ut said board who shall hold hia niJap
Iof 9ne year, Unless sooner removed majori-.
e 'sa wo ,h e Fsasdaa s may
elect anothef from their own number In lila aiaaT
The Board Of Managers ehal havp liz, iighi To-
ment as they may deem right aud proper nrna
viIed the came do not violate the provisions Of
NV ' e a. re- ths constitution and laws Of this
ARTICLE XIV.
The Board OF Managers may dsiribute thu
duties 10. be performed bv them among thei,
avn number as they may deem right and proper.
employees ana euhordinatep or ait"r ~ y, inv bav
may deem nn.essarv aud proper 10 carry of, the
be known by such names ~ The Board Of Mana.
al # Wsg s sa b 70 a sha,s or saeh q them and
during the pleasure Of said board.
ARTICLE XIV.
The Board Of Managers phal meet monthly.
"ii sum NY and hour az the board may ,leau,
hnI , e Transact o. the corp?raion
nuorum f9r business, majority OF who, shall
control; The president Of the Board Of Managers.
bpaiu together Whenever they may deem II no.
eessaIy and PROPER for the interest of the cor
poration to do 40.
ARTICLE XVI,
Tho president Of the Board Of Manapers. mr.
the person representing such president. shall be
UNI. l,.,, proper party upon whom judicial process
anu oil other notices shall lie served,
ARTICLE XVII.
Should the president of the Board Of Managers
he absent. airk. or otherwise disuueliflnd N Mt
iend 70 tlle p,sneas IF The corporation then the
their body to act IA president pro tempore
ARTICLE XVIII.
A regular get OF books Of accounts shall be
kept in which all the business Of tho corporation
shall be regularly. entered said bouks and all
receipts and vouchers OF the corporation shall ut
~ proper times be open 10 the inspection OF anv
Of said corporation
ARTICLE XIX.
All the funds Of tho corporation on hand shall
l,c kept Ia some Incorporated bank doing hsi.
ness u this city and no money shall De drawn
l , ihs fns osr YgGn the cheek q the prss
such, person as tho board may deslgnate Tho
surplus funds belonging to the corporation shall
sssa o 9p 3" on w and ssrsa p s
ocetea in this city. worth double the amount
ARTICLE Xxx.
Ne dividend lees than Ave por cent upon tho
,n,ount Of stock actually eubifrlsed AMI taken
hall ever be nade' dividend not less than
majority Of the whole number of managers
nay considei II for the interest Of The corpora.
ION to do 80, but no dividend eha ever DO dc.
Jared unti! the whole amount IF stock shall be
made equal TO par, and IN ascertaining the par
alue q tho stock. Tho property Of therorpora-
ion, real, personal aud mixed st,all bp es-
Ilnated At Its actual cash vnlue and no more
ARTICLE XXI.
Receipts OF vouchers shall DO taken aud cnre
ully preserved for all moneyr paid oft Said
eneipts shall contain tho name and residence Of
lao the purposes for which II was paid.
ARTICLE xXII
The following persona shall constitute the first
carl q Managers, viz p Warren Brlckcll,
W. ellis and Edward Booth. The said board
ball have power 70 MI all vacancies that may
eur h1 ,b,ss gagsPt s heEenaiisr stated BY
managers any member OF their board may for
,use he expelled. aud The reasons Tor sucl tx.
.cuscd furnished with Q duly certified copy
,ereof. The accused shall have u fair and fifl
al and every reasonable and proper opportu-
ity OF defending himself.
ARTICLE xXIII.
The stockholders may by a vote Of n majority
number aud amount Of the whole number Of
ockholdets remove from Office all the managers
I member r, Or r members thereof. and elect a new
oatd OF Oil the places OF those removed.
ARTICLE XIV
Tho said corporation. through its managers
hall have the right g acquire oil property. real
and lna Sed 9p shsr Which my b
tsinesa operations. aud u may in the Same
'anner acquire property upon which tho cor.
pration has u mortgage or lien as security or
therwise. In order thus 10 protect and secure
10 interest of sud corporation And tho anid
shall also have the right, through
= managers. to mortgage pledge or sell its
roperty. real. personal and Mixed
ARTICLE XIV.
All meetings Of the stockholders shall BIO held
Iter twenty days' advertisement In 1, conspjou-
us part Of the paper published by the CORPORA
on: In default Of such paper, then Ii; SOME
1her paper of general circulation In this city.
ating the day, hour and place Of such meeting
II meetings of the stockholders shall be called
order and presided over by tho President OF
10 Board Of Managers. A majority Of tho stock
oldere shall constitute u quorum to do bust
ess In case Of n called meeting Of stockhold-
rs, no transfer OF stock shall be made pending
nd call
ARTICLE XVI.
The managers shall be elected by the stock
pders each stakeholder cestipg one vote aud
majority OF tho votes cast shall elect. Eleetious
n managers shall be held at the Office Of the
lrporntion, after due public notice. on the first
onday 81 October Of each and every year and
10y shall continue In office for ono year or until
lcir sneccssurs are duly elected aud installed
u officers and managers Will hold over and
scharge the duties Of their respective positions
ntil their successors shall take their plnees
Mess otherwise docreed by u majority of tho
ockholders In number and arnount; but no
ilure TO elect managers and other officers, or
ther. shall dissolve the said corporation.
ARTICLE XXvIl.
In case OF failure or Insolvency Of this corpo-
atom no stakeholder shall ns stockholder in
I,,1 u,