The New Orleans Democrat. (New Orleans, La.) 1875-1876, 1876-01-04
CHARTER.


ON the books OF the corporation. such written
consent or refusal must contain the full name Of
the stockholder, the number Of shares be pro-
denee Of the proposed transfefee. And the price
Of the stock al such written consents or refu-
sails shit be preserved among the archives Of the
corporation for future reference.
ARTICLE XII.
The original subscribers to the stock Of this
corporation shall at Hll times have the refusal OF
any and al stock proposed to bs sold or trans
and after the refusal or neglect Of tho original
Subscribers to become the purchasers Of such
to or,owners OF the stock subsequent TO the for
nation OF this corporation. shall have the refu.
sal Of the stock proposed to DO sold. upon tho
''''''' ''' ARTICLE
Tho stock shall be transferred only on the
books of the corporation. and the said stock. or
tho price thereof. sought to be transferred shall
be liable for all demands Of the corporation Of
what nature soeyer, whether exigible or not.
against any and every stakeholder proposing TO
sell or transfer his stock the stock Of each and
every stockholder shall stand pledged to the cor
poration for all demands or claims as hereinbe-
tore sGa Wc ag eoryofoh y aye pr
substance Of this article shall BIO written "
printed on tho face of each certificate Of stock.
ARTICLE Kill.
Tho corporation shall DO managed. governed,
controlled, carried on and conducted by board
consisting Of five managers. to bo taken from
among the stockholders. No ono can be- mnn-
se Of bs ne Q, This soard o MAN. o
ayers shall elect one out Of their own number a.
President Of said board. who shall hold his Office
for ono year. unless sooner removed A majori-
ty of tho whole number Of managers may ut any
time remove their President and Immediately
elect another from their own number in his stead.
The Board Of Managers shall have tho right to
enact such rules and bylaws for their govern
ment as they may deem right and proper. pro.
vided the same do not violate tho provisions VI
this charter, tho constitution and laws Of this
State or the United States.
ARTICLE XIV.
The Board of Managers may distribute tho
duties to be performed by them among thoir
own number as they may deem right and proper.
The said board may engage the services Of each
employee and subordinates. or either, M they
business busy Of tho corporatpn ali 81 V whom 9s sa
be known by such names as tho Board Of Mana
gers. may assign TO them or each Of them, and
all Of whom shall hold their respective positions
during the pleasure OF said board.
ARTICLE XIV
The Board Of Managers shall meet monthly.
on such day and hour as tho board may desig-
And three members thereof shall constitute q
quorum fQr business. majority Of whom shall
control. The president Of tho Board of Managers.
board together whenever they may deem IL me-
cessary and proper for tho interest Of the cor
por"'''n 70 10 81 ARTICLE XVI.
Tho president of the Board OF Managers, or
the person representing such president shall be
tho proper party upon whom 70 judicial process
ARTICLE XVII
Should the president of the Board Of Managers
be absent. sick. or Otherwise disqualified to ut
tend TO the business Of the corporation. then the
board shall designate some other member OF
their body TO act MS president pro tempore.
ARTICLE XVIII.
regular set Of books Of accounts shall be
kept In which all the business Of the corporation
ahafl be regularly entered. Said books and ali
receipts and vouchers Of tho corporation shall at
all proper times be open to the inspection Of anv
stakeholder Of said corporation.
ARTICLE XIX.
All the funds Of the corporation on hand shall
be kept In some Incorporated bank doing BUSH
ness IN this city. and no money shall be drawn
therefrrom except upon the check OF the presi-
such person as the board may designate. Tho
surplus funds belonging to the corporation shall
be loaned out on ,nt ere, ana secured py ilrst
located in this city. worth double the amount
loaned.
No dividend less than five per cent upon the
amount OF stock actually subscribed and taken
shall ever be made; q dividend not less than
herein above stated may BIO declared whenever
a majority of the whole number OF managers
may consider 1t 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 DO
value Of the stock. the property Of the corpora
ton, real. personal and mixed. shall bo es-
tlmuJcu W itS ucbutl cttbu VALUE anu LO tuOTt.
ARTICLE XXI.
Receipts or vouchers shall DO taken and care
fully preserved for all LioneyS paid out Said
receipts shall contain the name and residence Of
the person to whom the amount was paid, and
also the purposes for which II wins paid.
ARTICLE XXI.
The following persons shall constitute the first
Board Of Managers. viz: y, Warren Brickeil,
Henry p Ogden Eugene e n Waggahn ana Thomas
shall have power TO fill all vacancies that may
occur therein, except as hereinafter stated. BY
q vote Of three-fourtbs Of the whole number Of
mandgcrs any member Of thoir board may for
cause be expelled. and the reasons for such ex-
pulsion must be assigned In writing, and the
thereof. The accused shall have a fair and full
trial. and every reasonable and proper opportu-
nifty Of defending himself. .5..
ARTICLE XIII.
The stockholders may by vote Of a majority
in number and amount Of the whole number Of
stockholders remove from Office all the managers
or member or members thereof, and elect new
board or ill the places OF those removed.
ARTICLE XIV.
| The said corporation, through its managers
shall have the right TO acquire all property, real,
| personal and mixed, or either which may be
necessary to enable il to carry on its legitimate
business operations. and it 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 Iss
property, real, personal and mixed.
ARTICLE XIV.
| All meetings Of the stockholders shall be held
after twenty days advertisement in a eonspic1l-
Gus part Of the paper published by the corpora
| ton In default Of such 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 Oh
the Board of Managers. A majority Of the stock
holders shall constitute quorum to do bust
ness. In case Of called meeting Of stockhold-
ers. no transfer Of stock shall be made pending
said call.
ARTICLE XVI.
The managers shall be elected by the stock.
| holders each stakeholder casting one vote, and
q majority OF the votes cast shall elect. Elections
for managers shall be held at the office Of the
Monday Of October Of each and every year. and
they shall continue in Office for one year, or unit
their Successors are duly elected and Installed
4 All officers and managers Will hold over ant
discharge the duties OF their respective positions
until their SUCCESSORS shall take their places
unless otherwise decreed by a majority OF TIN
stockholders in number and amount: but NJ
failure to elect managers and other officers. o.
either. shall dissolve the said corporation.
Il ARTICLE XVIII.
In case of failure or insolvency OF this corpo
ration, no stakeholder shall. as stockholder II
said corporation, be liable for any sum whatever
except for such sum as may still be unpaid Of
the stock Of the corporation held by him.
| ARTICLE xviii
This corporation may be dissolved by a yoto 4
n majority of three fourths of the stakeholder
in number and amount; and at such meeting o
next adjourned meeting the stockholders mus