The New Orleans Democrat., 1876-01-02
CHARTER.

or reiusal 81 !he manAgefs must DO In writing
and deposited with the persons whose duty Il
may be TO make or allow the transfer 10 be made
on the books OF the eorporatjon.. such written
the st,ekholder. the number of shares he pro-
poses TO sell or transfer, the full name and resi-
dence OF the proposed trqhsferee. And tho price
OF the stock. all such written consents or refu-
sails shall be preserved among the archives Of the
corporation for future references. M eNste
ARTICLE XI. 5s fssfg Is E
The original subscribers to the stock OF this
corporation shall at all times have the refusal Of
any and all stock proposed to be sold d. trans-
ferred q thc proposed price and terms thereof
subscribers 70 become the purchasers Of such
stock. then those. who have become Subscribers
to Of owners Of the stock subsequent to, tho for
sal Of tho stock proposed to be sold, upon the
'''''' - ARTICLE XII
The stock shall be transferred only on the
the price thereof. sought to be transferred shall
be liable for oil demands Of the corporation Of
what nature s9eyer. whether d sxigible or net.
soil or transfer his stock the stock of each und
every stockhoder shall stand pledged TO the cor
hold against each and every stockholder. and ths
substances Of this article shall be written. q
printed on the face Of each certificate OF stock.
ARTICLE XIII.
The corporation shall be managed, governed.
controlled. carried on and conducted BY q board
consisting Of five managers, to be taken from
among the stockholders. No one c,tn be q man :
ager unless ho owns one or more fun shares of
stock Of this corporation. This Board of Mnn-
agers shall elect one out Of their ewn number a.
President of said board. who shall hold his Office
for one year. unless sooner removed. maj0ri-
ty Of the whole number Of managers may nt any
time remove their President. and Immediately
elect another from their own number In his sieed.
Tho Board OF Managers shall have. the right to
enact such rules and bylaws for their govern
ment as they may deem right and proper, pro-
vded the same do not violate the pgovisions of
this charter, the constitution and laws Of this
State or the United States.
ARTICLE XIV.
as The Rfs s ss q Msf5s r. sy dsfea ba The
own number as they may deem right and proper.
The said board may engage the services Of each
may dsen @ and prcp y crry ~ 81 INK
business Of the corporation, all of whom shall
be known by such names as the Board Qf Mana.
gers may assign TO them or each Of them, and
all Of whom shall hold their respective positions
during tho pleasure OF said board.
ARTICLE XIV.
The Board OF Managers shall meet monthly.
on such day and hour as the board may destQ-
nate to transact the business OF the corporation.
And three members thereof shall constitute o
quorum for business amajority 9f whom shall
or any two members Of tho board may call tho
board together whonever they may deem II mo-
cessary and proper for the interest Of the eor-
W. '''0" y " - ARTICLE XVI
The president Of tho Board Of Managers. or
the person representing such president, shall b8
the proper party upon whom judicial process
and oil other notices shall be served. '7 s7'
ARTICLE XVII.
Should the president of the Board Of Managers
be absent. sick. or otherwise disqualified to at
board shall designate some other member Of
their body to act as president pro tempOre.
ARTICLE XVIII.
A regular set, Of books Of accounts shall b
kept In which III the business q the c9rporaion
receipts and vouchers Of the corporation shall IL
all proper times be open TO the inspection of anv
st0ckholder Of said corporation.
i5a ARTICLE XIX.
All the funds OF the corporation on hand shall
be kept in some Incorporated bank doing busi-
ness In this city and no money shall Pe drawn
&anassrs s q as
| such person as the board may desiguate. THE
surplus funds belonging to the corporation shall
special mortgage on we'll improved real estate
located In this city. worth double the amount
loaned. - 3,
No dividend less than five per cent upon ths
amount Of stock actually subscribed and taken
shall ever be made; u dividend not less than
herein apoys % stated ". b may ps deciared whenever
may consider II for the interest Of the corpora
ton to do so. but no dividend shall ever be de-
clared until the whole amount OF stock shall be
made equal to par. and in ascertaining the par
value OF the stock, the property Of the corpora
ton, real personal an and mixed. shall % es-
timated ut its actual cash value and no more.
ARTICLE XXI. i@
Receipts or vouchers shall be taken and care-
fully preserved for oil moneys paid out. Said
receipts shall contain the name and residence oi
the person TO whom the amount WIS paid, and
also the purposes for which It was paid.
ARTICLE XXI.
The following persons shall constitute the first
Board Of Managers. viz: y. Warren Brickell
eRryE Ellis n aae1 a.a ward Boe6 Ths ad b,,as
shall have power to fill oil vacancies that may
occur therein, except as hereinafter stated. by
managers any member Of their board may for
cause DO expelled. and the reasons for such ex-
pusion must be assigned In writing, and the
thereof The accused shall have o fair and fiifl
trial. and every reasonable and proper opportu-
nifty Of defending himself.
fa ARTICLE XIII.
The stockholders may by a vote Of q majority
In number and amount Of the whole number 81
| stockholders remove from office oil the managers
or member Or members thereof. and elect new
board or I'LL the places OF those removed.
ARTICLE XIV.
| The said corporation through It's managers
shall have the right 10 acquire all property, real
| personal and mixed or either. which may be
necessary to enable 1t to carry on It's Legitimate
business operations and 1t may In the Same
manner acquire property upon which the cor
| poration has mortgage or lien as security or
the interest of said corporation. And the said
corporation shall also have the right, through
| its managers, TO mortgage, pledge Or sell ~
| property, real, personal and mixed.
e, M ARTICLE XIV.
| All meetings Of the stockholders shall be held
after twenty days advertisement In q conspicu-
GUS part Of the paper published by the corpora
| tion; in default Of sach 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. A majority OF the sfock-
! holders shall constitute a quorum to do busi-
ness In case OF a called meeting of stockhold-
ers, no transfer Of stock shall be made pendiaa
- ARTICLE XVI.
| The managers shall be elected by the stock
holders, each stockholder casting one vote, and
majority OF the votes cast shall elect. Elections
for managers shall be held at the Office Of the
corporation after due public notice, on the first
Monday Of October Of each and every 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 and
discharge the duties OF their respective positions
1 until their SUCCESSORS shan take their places
unless otherwise decreed by majority OF the
stockholders In number and amount; but nc
| failure to elect managers and other officers. ol
either shall dissolve the said corporation.
ARTICLE XVII .
| ration, no stockholder shall. as stockholder in
said corporation, be liable for any sum whatever
except for such sum as may still be nnpaid on
| the stock Of the corporation held by him.
| ARTICLE XVIII.
This corporation may be dissolved by o vot4 D