The weekly Thibodaux sentinel and journal of the 8th Senatorial District. [volume] (Thibodaux, Lna. [i.e. La.]) 1875-1898, 1893-07-08

struction ana repairs or for the oeou;s;t;on
OF property or franchises, and for anv ana
All tneso purposes, TO issue bonds or other
written obligations, and the same to secnre
whenever deemed proper, by mortoage or
pledge. as the case may be, of the franchises
and the property, real and personal. incomas
revenues, contributions and receipts of za;5
corporation, and payable in suon amonnts
upon such terms and conditions, and Mt sncb
times and places. the whole as the Bnard of
Directors may direct or designate. viii
power to sell, pledge or otherwise disnose NJ
SAID bonds and written obligations as said
BOARD OF Directors may deem proper and
e~xpedient. 80"
ARTICLE ".
The Capitol Stock Of said CORPORATION "a
ereby fixed at Twentp-F Five ThonsanJ
Dollars fS25.0OO( represented by Two HIM
dred and fifty shares of One Hundred Dol.
lars each. to be paid in instalments NOT Al.
ceedlIig ten per cent per month on the cali
OF the Beard of Directors. Which shares
nave been subscribed Tor as follows, to;wit
Leon Godchaux, 2O9 shares. ED
ward Godchaux, 10 shares. 3-Charles
Godchaux. 10 shares. Paul l.. Godchaux.
~ shares. ALBERT Godchaux, 10 shares.
6.--AleXahder Theriot, | share.
b This corporation is authorized to commence
business immediately after the siguing Of
these presents by The appearers aforenalned.
NO share of the said Capital Stock of this
corporation shall be Transfers able, exeept ON
the DOCKS o. the corporation. nor until the
certificate of Stock shall have been deliver
ed u the corporation and duly Cancelled.
ARTICLE V.
The control, management. direction of af.
lalrs, anu ell powers OF said corporation.
shall be vested in and exercised by a Board az
Directois, composed of Three stockholders
owning each at least len shares of the stock
OIL sald corporation said Directors to be
elected annually on the First Monday of
June 1894. Each stakeholder represented
III person or by proxy at such meeting. shall
Oe entitled to one vote for each share of
stock owned by him. Notice of sueh meet
lnSa shall hs published twice, during two
consecutive weeks, in any newspaper pub-
lished in the Parish OF Laiourche, i'm
medlately preceding such election. Said
election 10 be held at the Office of the cor.
poratIon, un"er the supervision of Two Com.
mlssIonels to be nalned b; the Board of ID.
%rect0rs. and the Three Stockholders receiving
the highest number of votes shall be- do.
ciared elected. Failure to hold au election
on the day specified shall not dissolve the
corporation, but the Directors in Office shall
hold over until an election be held after
notice of the time and place be duly publish
cl as above provided for.
The Directors shall elect from their own
H. .uber. at the first meeting after their own
e. ctlon, u President and a Secretary and
4 casurer, who shall serve for one wear or
uL'll their respective successors are elected,
Two Directors shall constitute a quorum
fUI the transaction OF business, Vacancies
occurring in the Board of Directors, and an
other vacancies. shall be filled for the I'M
expired term by the Board of Directors,
whether "a quorum remain or not, from
among stockholders possessing all necessary
qualifications as above provided for.
The President shall have the power to an
np1nt from fJmn RI fft,,n ON I;r,, -
ure, such Clerks. Agents or Labocers. as
may be deemed necessary for the purposes
anu business vi said corpui alton.
ARTICLE VI.
The following named persons shall consti.
tute and are hereby named and appointed
the first Board of Directors, viz:
~ Leon Godchaux. ~ Edward Godchaux.
AVID 81 Charles Godcaaux. with Mr.. Leon
Godchaux as President, and Charles Col
chaux as Secretary and Treasurer. They
shall hold office until the first Mont,y ia
June. 1871, or until their successors are duiy
elected.
ARTICLE VII
No stockhoIuer shall ever he held liable or
responsible for the CONTRACTS or faults of said
corporation in any further sum than the
unpaid balance due to the company on the
shares owned by him nor shall any mere
~intOrmality in organization have the effect of
rendering this Charter null, or OF exposing q
stockholder to any liability 'ieyund the
amount of his stock.
ARTICLE VIII,
This Charter may 5e amended, altered or
modified, aud the corporation may be dis
solved, with the assent ot the stockholders
holding Three-fourihs OF the stock. at a spe-
cial meeting to be called tor the purpose,
either by the President, or Board OF Drrec-
tors, or by stockholders holding IA majority
OF the stock. The said meeting shall be
called after ten days previous written notice
given TO each stakeholder. which notice shall
state the Obj.c ct of the meeting. IL .me the
date and hour when and the place where to
he held. provided the place shall be in the
Parish where the corporation has its dumi-
ellie.
ARTICLE TX
When this corporation is dissolved, either
by Limitation or otherwise, Its affairs sh all
be liquidated by W Commissioner to be
appointed for that purpose from among the
stockholders, by the BOar1 of Directors, and
said Commissioners are hereby vested with
full power and authority TO sell and dispose
OF the assets and property, Doth real and
personal, OF salt corporation, whether at
private Or public sale, aud to convey full
aud complete title thereto, aud to DO and
perform all acts neccessary, useful and prop
OF to fully and completely liquidate the at
fairs of said corporation, and with power to
apply proceeds To the payment of The debts
due by said corporation aud to distribute
any net proceeds. II any, among the stock
holders ratably aud proportionately to the
amount OF shares owned by each.
Thus done and passed at my office in the
City of New Orleans in the presence of the
alortnamed witnesses, who have subscribed
their names hereto, together with the an
pearers. and me, said Notary, on the day and
in the month aud year first above said aud
Written.
fUn1inal igned !
LEON GUDCHAUX.