The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-07-27

rendered to the company on issuing certificates
OF stock.
ARTICLE SEVENTH.
This company is to exist and continue for the
full term of twenty-five years, but may be dis
solved at any time before with the assent of the
stockholders, represented at q meeting express
~ called for that purpose In which case q ma
jority of two-thrds of the votes present shall be
necessary.
ARTICLE EIGHTH.
This company shall be capable in law to buy.
sell, mortgage. take, receive, hold and in any
manner acquire real estate. It shall be and is
hereby authorized and empowered to make
rules. bylaws and ordinances, and to do and
perform any and everything needful for its
government and support not repuguant to the
constitution and bylaws of the United States
and of the State Of Louisiana. and to this act of
incorporation.
ARTICLE NINTH.
This corporation shall have seal having the
name OF the corporation in the margin.
ARTICLE TENTH.
This company shall have the power TO cite
and be cited, to sue and be sued The Presi-
dent, or in his absence the Secretary of the
company, shall be the proper persons upon
Wnom to sery7 such citations or all other docu-
Lnants or Wits IN all suits against the company
All contracts and Instruments OF writing ap-
signed by the President and commissioned nv
the Secretary of this company.
ARTICLE ELEVENTH.
The business of this company shall be man.
aged by q Board of Directors, consisting of five
stockholders, each of whom shall own in his
own right at least one share IF the CAPITAL
stock of this company Three Directors pres
emit at any meeting shall constitute n un6rum
fully authorized to do and perform all acts
necessary Tor conducting the business Of said
ARTICLE TWELFTH.
The officers of this company shall be n Presi-
dent, Secretary and such other assistants or
clerks rs the Board of Directors may appoint
The President shall preside at all meetings of
the, Board of Directors. and in his absence by
shall appoint President pro tenn The Presi-
dent and Secretary shall perform all the duties
apDertatning to their respective offices.
ARTICLE THIRTEENTH
The Board Of Directors shall be elected by
ballot on the first Monday of January in each
year by etockholders voting in person or by
proxy, at the Office Of the company. The per
sidered elected and the Board of Directors fms
elected shall take their seats on the following
Monday and shall hold the same one year
their stead
ARTICLE FOURTEENTH.
Each share Of stock shall! entitle the stock
holder owning the same to one vote No trans
e feF 2t g09 ae @2de Of Yh1 the thirty days
transferee to cast his vote at such election
ARTICLE FIFTEENTH.
The. Board OF Directors, at their first meet
ing after their election, shall choose one Of
their number for President Of this corporation,
and SAID election shall be by ballot and by a
majority OF the whole board.
ARTICLE SIXTEENTH.
The Board of Directors shall appoint a Sec
rotary and such clerks or employ es as may be
required, and remove them at pleasure. and
shall fix the salaries of all officers and en-
ployees of this mpany. The board shall also
have power TO supply any vacancy that NAV
occur among their own number.
ARTICLE SEVENTEENTH.
The stockholders in no circumstances what
ever shall pc liable for any amount beyond that
Of their subscription.
ARTICLE EIGHTEENTH.
Books for the registry and transfer Of shares
of the capital stock Of the company shall be
open and kept subject to the restrictions
directed by the bylaws. All transfers of stock
shall be made on said books. and signed by the
Shareholder or his attorney in fact, which |
books the Board of Directors may close at such
periods and at such times as exDediency may
ARTICLE NINETEENTH.
failure to elect Directors on the dav named |
for that purpose shall not dissolve this aaeOcia-
ton, but the Directors then in office shall hold
oyer until their successors are elected and quail
flied. In case from any cause an election Shall |
not be made on the day appointed therefor il |
shall be the duty OF the President to order an |
election to take place within fifteen DAYS there-
after he giving notice of said election in con- |
formtty with article thirteenth,
ARTICLE TWENTIETH.
Minutes of all the proceedings Of the Board of
Directors shall be kept by the Secretary and |
verified by the President, and the President |
checks, certificates of stock. contracts and ali |
evidences of debt Of said company,
ARTICLE TWENTY FIRST
This charter may be modified or altered. and
he capital stock increased or reduced, with the
consent of two-thirds of the stock represented
n general meeting of the stockholders CON
7ened tor that purpose after thirty davs' notice
~ publication in any daily newspaper in the
'ity of New Orleans.
ARTICLE TWENTY-SECOND.
The liquidation of the affairs of said company
shall be made by three commissioners an
pointed by the stockholders at a meeting held
or that purpose. after thirty days previous no.
cans; said ltquid4tOrs shall be solvent psr-
,OnS not indebted to the company residents of
New Orleans; their term of office shall be aS-
1gned, and all necessary DOWors shall be- con
erred upon them. The period of liquidation
hall be fixed as we'll as their CONDENSATION in |
uch manner as the stockholders in general
Meeting convened shall determine.
ARTICLE TWENTY THIRD.
The names and respective interests of the
parties to this act are declared as follows:
leon Grand, two hundred and two shares ono
Charles DeRuyter twenty shares ........... 20
lons ant Andree, two shares ................. Q
!. Henry Pfauche, two shares ..........
1t. Leon Destez. seYerty-tWo shares. .... 70 |
AdOlphe ramboury, one share. ............
August Charles Brauns, one share.
Three hundred shares. OBSERVATION-DISCLOSURES. 300
ARTICLE TWENTY-FOURTH.
The following named stockholders shall COM
,ose and are hereby constituted the first Board
# DirectOrs:
Charles De Ruyter,
Constant Andree,