The New Orleans Democrat. (New Orleans, La.) 1875-1876, 1876-01-09
49, &<1<Af%@z7
CHARTER.

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corporation shall at all times have The refusal oi
eny ard 81 stock proposed 10 by sold ~ tfats.
snd az 1 reRsa y sss Fs e Ssn
subscribers 10 becofte the purchasers 81 such
stock then those who have become ss9ri ;r
sal u the stock proposed 10 be sold. upon the
same 'er'"s' ARTICLE XII.
The stock shall b. transferred only on. the
books Of Ne egreora,, aea the saa stock II
be liable Tor ali demands of the corporation d
what nature soever whether .esIabie or not.
against any and every stopkholder proposing 10
every stoefhoiqer shall stand pledged 70 the cor
poration for all demands or claims NJ herenbe-
fore stated which the corporation Ilay have. Or
su subs d this altieis shall b. written Of
printed on tho face 81 each certificate u stock.
ARTICLE xiii.
The corporation shall be managed. governed,
controlled carried on and conducted Ivy board
ainong tiie stockholders. No one eai, l,s. n man.
aeer Unless he owns 9ile ~. more full shares u
stock q t's eyrp"r',Hn ni ,s ggafa q Mas
President of said board. who shall hold his office
for gns year Unless sooner removed na1or
lime remove their President and Immediately
elect another from their own number IN his stnad.
1he board Of Managers shall have. ths right to
FItFi SUN ENttS Hiiu uyeHtWS. ibN .tfrtf EbfttB~
tnert as they may deem right aud proper, pro.
yl1ed The safne 10 not Violate the provisions u
Aa s e ;, tie a ne f sss and laws Of this
ARTICLE XIV.
The Doard Of Managers may distribute the
duties to be performed by them among their
own number as they may deem right and proper.
employee and subordihates. or either, MS they
il,fy deem flnHassary aid proper 10 carry IN the
BUSINESS u the corporation, all u whom shall
b. know, by such names rs The Board VI MatN-
gers may assign ~ theIn ~ each ~ thsmi ana
all q whom shall hold their respective positions
during The pleasure of said board
ARTICLE XIV.
Tho hoard III Managers shall meet monthly.
on such day and hour ~ the board may dnse-
tpte ~ transact tho BUSINESS 81 the corporation.
And three members thereof shall constitute \
quorum for business. t1ajurity u whom shall
control The president gf tho Board u Managers,
pr any. twp. menl,ers 81 The board. inay call tho
es d n y ts 5 jte u et s eae
po'a''on " ~ y ARTICLE XVI
The president IL the Board Of Managers, or
The person representing such president, shall DO
and ill other notices shall be served.
ARTICLE XVII. rt
Should The president Of the Board of Managers
tend b. The business Of the corporation then the
hoard shall desienats some other member of
tbeir body to not as president pro tsmpore
ARTICLE XVIII
A regular set a hooks Of accounts shall be
kept In which all the business VI the corporation
shall i,e regularly entered. Bald books apd ail
Receipts and vouchers q the coTparatgn shall ut
all pfbpsf times hH open 10 the Inspection Of Anv
stakeholder oil said corporation.
ARTICLE XIX.
All the funds u the corporation on hand shall
DO kept IN some Incorporated bnnk doing b,,sl-
ness ln this city aud no money shall be drawn
st 4 he BsqS% s q e p,97b T.
such person ts tho board may desienate. The
surplus fgn,ls belonging g The corporation shall
special mortgages on we'll improved real estate
located in tiis city worth double the amount
loaned. -
No dividend loss thap five per- cept upon the
amount NJ stock mutually subscribed and taken
shall ever be made. q dividend not loss than
. 9. majotits q We wh2le number q managers
tioll y 10 49, but 9o dividend shall ever be 20.
value q The stock, the property of ihe'eorpora-
tilnated al Its actual ei.sl vaus aud no more
ARTICLE XXI.
llsceipts or vouchers shall no taken and care
fully preserved Tor MI moneys pajd out. Said
leeeips shall contain the name and Residence d
also the purposes fof which II was paid.
ARTICLE XII.
The following persons shall Constitute tho FIRST
Board u Managers viz, o, Warren Brieksll
" tls aS9 wafS sqess s ahe said a1 Sassd
shall havs poweI 10 MI AL vacancies tint may
oee',r therein except as hgreaaftsr stated. by
m,tnagers auy. u,eptet 81 their board may for
cause rs eSpd1lod. aud tho reasons Tor suoG ex.
pulaion must 10 assigned ie writing. al,d sbs
iEer@ Te a,seS g' shai h s a9.I ar and Pf f
trial. aud every reasonatle md proper opportu.
nifty of defending himself.
ARTICLE XIII. te#
In number aud amount III ths whole number III
stnckhoders remove rom ofllesall the managers
OF member Of members thereof. and elect u now
board or oil the places OF those removed.
ARTICLE XIV.
The said corporation. through. It's managers
shall haya Tho right 70 acquire all property real
personal and tniked, or either. which may be
business operations and II may 10 tic same
manner acquire property upon which tho cor
p2ration hps y !anrtgago Or lien as security OF
the interest Of ssid corporation. AID the s said
corporation shall also have the right, through
Its managers. W mortgage, Pledge or soil It's
property. ronl personal and mixed.
ARTICLE XIV,
All meetings Of Pie Stockholders shall be held
after twenty DAYS acknowledgment In 2 conspico-
2"s ps 4 V" "p 2; a bg the
stating the day. hour and plgee u such meeting.
All meetings III the stockholders shall be called
e order and ,pte.ided over by tte Pyosident Of
holders sh9ll cgpstitvte o quorum W do b1si-
moss. In case Of y called meeting 81 st0ekhold-
ers, no transfer OF stock shall bo made pending
said call.
ARTICLE XVI.
The managers shall be- elected by the stock
holders, each stockholder cgsting one vote md
Q majority 81 the votes cast shall elect. Eectons
for managers shall be held ut the office of the
corporation, after due pubic notice. the first
eg ssa cenaNs a ons ses ys or u an
their suecegsors are duly elected and Installed,
All officers and managers will hold over and
discharge the duties of their respective positions
until their successors shall take their places.
unless otherwise deereed by majority of the
stockholders In number and amount; but no
failure TO elect managers and other officers, or
either shall dissolve the said corporation.
ARTICLE XXVIf
In case Of failure Or insolvency Of this corpo-
ration, no stockholder shall, as stockholder In
said corporation. be liable for an sum whatever
except for such sum ~ may still b. unpaid on
the stock Of tn. ccorP2ratioa held by him.
AKTICI.E XVIII
This corporation may be dissolved by Q vot1 VI
y majority Of three-fourths Of tho stookhoIders
next adjourned meeting the stockholders must,
by y vote OF ut ieest y majority OF tho whole
stock In amount, decide how and w whom the
corporation shall be- settled, iqufdated and closed
Should tho stockholders fail to provide for the
liquidation within twenty days after Its dissou-
ton, then the Board Of Managers shall provide
for the settlement and liquidation Of ihe affairs