The New Orleans Democrat. (New Orleans, La.) 1875-1876, 1875-12-30

whole ni,Inbcr Of said managers object to such
sa,e and transfer then the sumo canuot DO sold
I'D 4 With w s h ss s1
u % bo5P = II H. sou e asl ae b sas
consent OF refusal must col,iain the fu name II
tho slocth9lder, tho number .oI shares BIO pro-
denee Of the proposed transferee. And tho price
OF the stock. all such written consents or refu.
a,ys shali DC preserved among the archives Of tho
! ~ ARTICLE XII
| The original subscribers to the stock 81 this
CORPORATION slial at all times have tho refusal of
any aud oil stock proposed to be sold or trans.
and after the refusal Or neglect Of the original
snbscribers to become the purchasers u such
,9ek then. then ea9sa wh9 have become sdb.eriee.s
mutton OF tllia corporation. shall have The refu-
sal Of the stock proposed to b. sold. upon Tho
| M ARTICLE XII
Tho stock shall be transferred only ON tho
books Ut the CORPORATION. and the said stock, or
tho price thereof sought 10 bo transferred, sl,nll
! DO liable for al demands 81 the corporation III
what nature s?ever whether .exigtble or net.
ss sS'"s amy s1 h fygry qiEn9ass . p,Yposns y
every stockholIer shall stand pledged 10 tho corr
poraiion for all demands or claims IVA hereinbe-
w aass n y assr ,S Ss
substances Of this article shall he written or
printed on the lace Of each certificate Of stock.
ARTICLE XIII. t Is
! The corporation shall be managed governed,
controlled. Carried ON and conducted by Il board
| consisting 81 live managers. Ia be taken from
among the stockholders. No enc can be d man
ager unless ho owns one or more full shures OF
stock Of this corporation. This Board Of Man
ngclp shall elect ono out Of their own number az
President Of said board. who shall hold his ofIlce
| Tor one year. unless sooner removed A nnjori.
| ~ Ut the whole number of managers may MT any
time remove their President and immediately
elect another FROM their number In his stetsd
The Board Of Managers shall have the right to
ouitet such rules and bylaws for their govern
ipont ~ they may deem right aud proper. pro-
yided the sumo do not yiolate the. proviaions ~
| this charter. The constitution and laws OF thia
State or the United Statos.
ARTICLE XIV.
/ Tho Board II Managers may distribute tho
duties to lie performed by them nmopg their
| own number aa they may dseip right aud proper.
The said board may engage the services vi sttclt
employee mud subordinates. or either. ~ they
nnny deem ne.essary and proper 10 curry on tho
/ business Of tho eorpornton MI IT whom shall
bo known by sncl, names M the Board pf Mana.
| gers may nssign to them or each of them, and
| all Of whom shall hold their respective Positions
during The pleasure Of said board.
ARTICLE XIV.
Tho Board Of Managers shall meet monthly.
| on such day and hour ~ the board may desig-
nate. II, transact the business Of the corporation
And three members thereof shnll constitute q
quorum r9r business, amaigrity Of whom shall
control The president of tho Board Of Managers.
i or any two members Of tho board. may call tho
board together whenever. they may deem It ne.
cossery aud proper for tho interest Of thg cor
ARTICLE XVI
| Tho president of tho Board Of Managers or
| The person representing such president, shall be
The proper purity upon whom judicial process
and MI other notices shall be served.
ARTICLE XVII.
| Should the president VI the Board of Managers
| be absent, sick or otherwise disqualified 10 at-
tend 70 I ths baa,a.ss Of the eorp2rion then the
| tlIer body 10 act IA president pro tempore
ARTICLE XVIII.
A regular sci. If hooks of accounts shall bo
kept IN which all the business Of the corporation
shall be regularly entered. Said books and nll
Receipts aud vouchers of tho corporation shall at
all proper times by open TO the inspection Of any
stakeholder Of said corporation.
ARTICLE XIX.
All the funds of the corporation on hnnd shall
be kept in some Incorporated bank doing b1si-
ness IN This city. and NO money shal be drawn
j Boar" rERH" s q s psis
such person W the board may designate. TIN
surplus funds belonging to the corporation shall
| be loaned ont on interest, and secured by first
| special mortgage on well improved ra,lI estate
located In this city, worth double the amount
| loaned. ... ..4.
No dividend less than five per cent upon tho
amount II stock actually subscribcd md taken
shall ever be made adividend not less than
| herein above stated may bs declared whenever
| Il majority 81 the whole number III managers
may consider II for The interest 81 the corpora.
ton to do 49,, but no dividend shall ever DO de-
clarcd until the whole amount Of stock shall be
made equal ~ par. and IN ascert,ttnng the pMr
value d The stock. tbc property Of thecorpora-
| ton, real. personal and mixed, aliaIl ", cB-
! tmated at Its actual cash value and no more.
ARTICLE XXI.
| Receipts 81 vouchers shall be taken aitd carp-
fully preserved for al moneys paid out. Said
tho person to whom tho amount WIS paid. and
also the purposes for which IL was paid.
| ARTICLE XxIi
The following persons shall constitute the first
Board 2, naanagerrs ,, VIZ Warren HS,,ekeli
q, " Ellis aud Edward booth The said board
shall have power to MI all ,acancies that mny
| u vote u tlirce-foultbs ri the whole number Ut
managers any member 81 their board may for
cause be expelled, and the reasous for sucII ex-
pulson must be assigned In writing. and tho
thereof. Tho accused shall have . fair aud iufl
trial and every reasonable aud proper opportA-
ARTICLE KILL
The stockholders may by = vote u Il majority
in number aud amount of the whole number II
stockholders removeirom oilicenll the ,pnnagcrs
board u'}' Of the pacS of those removed.
ARTICLE XIV.
Tho said corporation. through It's managers
shall have 10; right 70 acquire all PROPERTY rcgl
nsrso and iEed 2 s s,Is wh,e lny r.
business operations. aud 1t may IN tie same
manner acquire property upon which the cor
poratipn h;,s u mortgage or lion IN security or
otherwise. IN order thus to protect nfld secure,
the interest Of sud corporation. And the sud
corporation shall also have the right, through
its managers ~ mortgage, pledge or sell It's
property. real personal and mixed.
ARTICLE XIV.
All meetings Of the stockholders shall 10 held
after twenty days advertisement In u conspicu-
Gus part Of tbs paper published by the corporM-
ton; in default III such paper, then In some
other paper Of general circulation In this city
stating the day. hour and place Of such meeting
All meetings u the stockholders shall be called
30 order and presided over blythe President ol
the Board Of Managers. A majority III the stock.
holders shall constitute quorum to do bust.
ness. In ease Of ~ called meeting of stockhold.
crs. no transfer Of stock shall BIS nude pending
said call -
ARTICLE XVI.
Tho managers shall be elected by the stock.
holders. each stakeholder casting one vote, and
"a majority Of the votes cast shall elect. Elections
for managers shall be held ut the Office Of thu
corporation, after due public notice. ON tho first
Monday Of October Of each and every year, and
they shall continue in Office for one year. or until
their succcssors are duly elected and Installed
FAN officers and managers will hold over and
discharge the duties Of their respective positions
until their Successors shall take their places
unless otherwise dccrecd by majority Of thu