The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1890-03-08
ARTICLE ~.

/ AK lxCAA ~.
Inc capital stock of said corporation
| Is liked at the sum of thirty Thousand
dollars $500 to be represented by
| three hundred shares of one hundred
dollars ($lO0) each, payable i'll cash IN
| fall at the time of subscription, which
| capital stock may be increased or le-
! duced bya vote of threetourths OF the
! stoc holders at any meeting called TOT
| SAID purpose as psovided N the statutes
| Of the State of Louisiana.
ARTICLE V.
This corporation shall become gong
concern and commence operations as
soon rs seven thousand dollars OF the
stock is subscribed and paid IN. Fur
| Their subscription may be authorized BY
the Board of Directors at any regular
meeting of the Board follow ing one at
which notice has been giyen Of such
proposed action. When such anthorl-
zation has taken place the stockholders
OF record shall have t'ic right to sub
scribe for the same pro rata under such
limitation as to time as the Board OF
directors may fix.
None of these shares of stock shall be
offered TO other than tocllhoiders unless
| tleE decline to subscribed,
ARTICLE VI.
Transfers Of stock shall be made upon
the books Of the company. subject to
such regulations and torlnalities as the
Board OF Directors may prescribe, but
no stock heider shall sell any shares Of
stock of this corporation to any perscn
not a stakeholder unless he shall have
first rtfcred snch share or shares to TIE
shareholders o. said corpora ion nd no
transfer OF stock shall be rSco 5nized OF
recorded on the books Of saiG. CORPORA
ton unless made i'll CON, liance with
this provision.
The Board of Directors shall prescribe
the method for such offers of stock.
ARTICLE VII.
All the corporate power of said cor
soration shall be vested in a Board of
Directors to be composed of five per
sons, to be elected annually on the last
Tuesday in January Of each year, ex-
cepti g the year eighteen hundred and
ninety, who shall have power to make
all needtul rules and bylaws for the
government and regulation of the com
pany. and of ita officers ard business,
ard to conduct the same, and to appoint
all subordinates, officers and agents TO
hat end.
Each director shall be required to
hold in his own right on the day Of
election, ard during his term office
at leas' five shares Of the capital stock
of said corporation.
The election shall be held at the of
ice of the company under the snper
vision Of two commissioners to be ap
pointed by the Board of Directors. lie
gal notice Of the holding OF such election
shall be given by publication, in news
paper pu blished III the Parish OF St.
Mary, and the directors then elected
I'll - :, seIye until their successors are
erected anu -rr"t'-AanA- nualjfed \
majority o. the votes east shall elect,
and one vote shall be allowed for each
share Of stock, represented by the holder
or by his written proxy. Any vacancy
occurring i'll said GARD from any cause
wAatc, Ct shall be flied by the remain
ing direction.
Three directors shall constitute
quorum for the transaction of business.
be Board Of Directors shall at their
tiist p,rctjp. after tLrig election elect
ont Of tIeir own member Il President
ana tlltN She>it Aieo tItCt ii 'ccict.s- ' anu
Il Treasurer.
They may elect one person to tie
offices of Secretary aud treasurer.
They shall from tine 10 tIni" appoint
such her officers. clerks, oycrs"tIs and
Il rent. as the business and purposes of |
said corporate IL may require aud the |
same to dismiss a pi Il sUrt. |
A.tiltii. IL.
The foil wing persons. viz:
l.. Murray Ier.is. +. y. line, ( has, !
a.. ellis, Geo. y. PaltGey, ANA Nin. l..
Fel1i, Shall be and are hereby eousEl-
tUtci the first Board vi Directors uniIeI !
this har eT. !
L. y Hine is hereby constituted Pres
ltcnt and Mtn l.. erI!s SECRETARY am
Treasurer Gud all these director, an
officer, shall hold shei Offices until tie
last fuestay i'll January eighteen hun
lied and hi y-cne, or until their snc
-csSols are duly elect ted und shall have
qualified.
ARTICLE TX.
Whenever this GO lsoration is dissolved:
'lthct by llnilta ion. or from her to any
,ause, its affairs shall be liquilatec
ln,Ie the supeliIttpdenee OF three
pointed from among the stockholders If
he eompa y, for that purpose, at IA
.cpeiIl meeting Of The stockholders con
ened after thirty days prior notice, ANA
n the assent of three -tourths il amount
f the capital stock.
The said commissioners shall remain
/ office until at er the affairs of the
operation shall he duly liqui,iated.
Auy vacancy occurring in their mum
er from any cause whatever. shall be
led by the remaining commissioners,
no shall moreover, during such
lcancy, continue to act.
ARTICLE X.
This ACT of Incorporation may be
ranged. modified or amended, or said
operation may be dissolved by vote [
three fOurths in amount of the CAPT
| stock, at general meeting of the
Dckholders convened for said purpose
tel thirty days previous notice of such
eeting shall have been published in
wsparel published in st. Mary Parish.
ARTICLE NJ.
No stakeholder shall ever be held
bile or respo sible f0r I've debts, de
Hts or contracts o. sail corpolatian,
any further fuud than the unpaid
lance due on tho shares ofstook sub
ibed for or owned by HIM. LOT shall
Y iniOrmality Iva organization have
effect of rendering this charter null,
sIockholder to any la
ity beyond the amount of his sub
iption to the stock.
.hus done and signed at my Office, in
town Franklin, Parish Of st. Mary, al
uisiana, on the day, month and year
resaid, in presence of Alexander G..
re and John b. Veydun, Jr., two
npetent witnesses, who sign these
sents with appearers and me, said
AIRY, after due reading.
r. y. HINE,