The Lake Charles echo. [volume] (Lake Charles, Parish of Calcasieu, La.) 1876-1898, 1892-04-29


anllaBs each. Said Association shall be author
lied to commence business when Hive Hundred
Dollars shall have been snbseribeda and paid mp.
ARTICLE III.
Subscriptions for stock shall be paid for as fol.
Lows: Fifty per cent at the time of subscription
wv ttt PER gslt quarterly until the whole
Oh supsqflptltn Is paid up.
ARTICLE ~.
!, Transfers Of stock shall be made only upon the
DOORS 81 TINS Association, and no stakeholder
shall be authorized 10 sell share or shares to any
one at private sale but shall offer such share or
shafes 70 the Association. Said Association shall
pc authorized To buy the same at mar yalup Fagh
stoekholdeF shall be entitled to as many votes as
NJ represents paid up shares Of stock
ARTICLE v.
The stock holders shall elect five stockholders
2 board OF directors; three directors shall cOnsti
sltts p quorum for the transaction Of business
icy shaii elect tFom their number q president
Flee-pteslaeht and secretary
ARTICLE vi
The directors shall have power to appoint or
DISMISS At pleasure such agents clerks and other
employees as they may deem necessary for the
business Of said Association and 10 regulate their
salary aud to determine their bond, and 70 enact
kHeElQea RI bylaws shall remain in full force vi
tm latl ne Stockholders shall have refused to
ARTICLE WI.
Ihe agent and employees shall be required to
gtNe suileleAt bond, approved by the directors
70 cover all responsibility sTepesed in them
ARTICLE VIII.
~, stakeholder shall ever be liable or respons.
ble ior the contracts or faults Of this Association
~ any further sum than the unpsid balanee IN
lne shares Of stock subscribed of owneu BY him
~ saap any mere informally Of organization
Ave We elieet Of exposing any stakeholder to
NY labillty beyond the amount Of their subscrip
ARTIoLE TX.
Al citations Or gth9r legal process shall be
served on the presideqt, and In case Of his ali
sense or inability upon the yieepresident and In
the case Of the absence OF inability syf both llDon
the secretary; be president shall have power
t II y y lhe stoskRolders Whenever
ARTICLE x.
ms e. ioiloyipg named toekholders shall oOnsti
tnte the 1rst beard of directors Of said As0oeia-
llpn, Yested with an power hereinafter ennmera-.
tfd, and % continue in office until their sneees.
sors shall rave Pesn elected and have qualified:
IN HA.NlsdHEY. s s. e. l. u Aa sitR
ARTICLE XII
THIS corporation shall have power and authori.
eession for the term Of ten ilOj yeaTs ,ffsm and
aftsr the date hereof TO contract sue And ba slled
and 70 bold, receive lease purchase convey. anf
fleI tssse l9der 10 corporate nanle, property,
h9s5l tesl aud personal and % have power To do
AZ business necessary q carry out lie objects 81
tbs Association
ARTICLE xu.
Y AenaYer this Association Is dissolved, either
" lap1ltatlon or from other cause its Affairs shall
be liqliidated under the silpefiuteild a. ~ Tee
slQeithglders 70 be elected Tor that purpose M a
general meeting of the Stockholders convened
" lAilty ss9l days prior notice, and with as
sent q " o-tAiFsls 9f the stock represented Al
meeting called for that purpose; ard h fase n
~ 2s4hl q one q more 0f said commissioners