The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-01-29

dividends to which the above laid mn -.
shall be and is entitled. Shout any eviSss22U
ab bs % s ea Of f the q GsS
transferred, or out OF the earnings Of thiS
poration then corresponding amount Of Az
said paid-up capital stock shall become n ,f1
No stock OF this corporation shall eva. i.
Cancelled, but shall remain at tina q
amount Of one thousand shares Of ons hnSea
any means become the property Of the Corr,
ton shal be opened to subscription Il, iy ~
vidual stockholders under such ru es and rs .ols
lations as the Board oil Managers may present.
ARTICLE Nv.
No shares of the capital stock Of this 49,.
pany shall be sold or transferred by any hnia1zs
thereof unless full paid. and no stock ear ~
sold without having been first offered T. ~
corporation. which shall have the priyiiss. ~
The CORPORATION should decline to pnrnhas e r.
any stakeholder shall have the refusal n ~
stock proposed to be sold upon the same ts,,s.s
The stock shall be transferred only on Tie 6oos.
ARTICLE ".
The affairs OF this corporation shall Ia ,,.-s
aged, and all the corporate powers thereof -
ercised. by a Board OF Managers. which sksdI
consist oil seven members. any five Of X
shall constitute quorum for the transactins ~
business. Three of said members shsf Y
chosen by the holders of said paid up stocf: r.
remainder shall be chosen by the holders n III
he
newsroom, one from the editorial room ~ "
one from the press and counting rooms
The fret Board Of Managers shall Do o..
posed Of the following named persons as 0sc
Christopher Nungesser. VIM. Il. Barrow. T~s
D. Harris and stephen D. Pool. Jr.. who eksi1.
hold office until their successors shall have -
aa on e the frst ST Monday Of septsmber d
year, ten days previous notice thereof hs1s2
give n In one OF the newspapers OF this city ~
e. no o1r --x4.S -
shall be held by the Stockholders at the ofSsS II
the company. Each stockhOlder shall b -
titled. either in person or By proxy Dlaoed n
on each share Of the capital stock held by En-
Said Board of Managers shall. at Their In
meeting. elect one of their number as preeldSSf
Of the company. and they shall have the POW
for the government of the affairs OF this ar.
pany as they may deem proper. and to a.
and amend the same whenever they may O..
The Board of Managers shall furthermoe6
have the power to dismiss from the o0SSs
citation any member against whom chaF1r
Of duty derogatory to the principle OF Cooper.
ton OF the association. which may have -
preferred by the head OF q department Or g.
member Of the association ana sustained 2
Managers. after ballot in due form taken. ~
stock held by such dismissed member shall q
disposed OF In the same manner az IL heFe2
plONiuou Iol INC elduoiOh VI oil btV1k VI ~
ARTICLE vi.
No stakeholder of this company shall eyerh
responsible beyond the amount OF any unpo1&
balance due. to the company on the shse0
owned BY him. for any debt. fault. eontraa q
liability OF this corporation nor shall any m60
informally In organizing have the effect Of M
dering this charter null or OF exposing stoek&
holder to any liability beyond the amount OF ~
unpaid balance due upon his stock.
ARTICLE VII.
This act OF incorporation may be modi3ef
altered, amended or dissolved with the as0S2
of three. fourths OF the whole stock at q gene1I
meeting of the stockholders. especially ca
vened for that purpose. after ten days pub
notice published In one OF the papers OF this d.
ARTICLE Will
At the termination OF the present charter, q
the dissolution OF this corporation, its ann
shall be lfquidated, Its debts paid and anY ~
sets remaining divided among the stockholdM
In proportion to the amount OF paid M eto1I
held by each. The liquidation to be made q
two commissioners to be appointed for ~
purpose by the Board of Managers, All no614
sary powers shall be conferred upon them. nj
their compensation. as well as the period ~
lowed for liquidation. shall be fixed IN -
manner as the stockholders may decide In ~
eral meeting convened.
Thus done and passed In my Office at New 81
leans. the day. month and year first above WI
Vale Rozier, conn etent witnesses residing +
this city. who sign these presents with The 13;
bearers and me. said notary. after readine0
the whole. Ne