The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1893-02-25


may be re-issiied at the discretion Of the.
Board Of Directors.
ARTICLE Nv.
The corporate powers OF this organization
except as hereinafter or otherwise pro.
videj. shall he vested In and its affairs and
business be managed by "A Board OF hve III
rectors, each of whom shall own in his Own
right at least tive shares Of the stock OF SAID
corporation.
The Board OF Directors shall be elected
by tie stockholders annually on the 10th
day of the month OF January OF eacn year,
except when said date falls on sunday. then
| in that event. said election shall take place
on the dav thereafter. the first election IN
der this charter to be held on the Slst day
| of December. 1872.
Al such elections each share of stock rep
resented shall he entitled to one vote, ana
| the five stockholders receiving the hlghest
number of votes shall be declared elected
directors for the ensuing term. provided
! that at least three-fourths of the subscribed
| stock he voted at such election; otherwise
the election to be null al void and new
election TO be held as hereinafter provided
| for. Said election shall be by ballot. ADD
/ shall be held at the iomicile of theCompany
under the supervision of the stockholders
appointed BY the Board of Directors.
/ The Secretary shall give 10 DAYS notice oil
such regular election by publication in a
newspaper published in the town OF Proyl-
dence. La. Failure to hold an election on
the aforesaid date. or the failure thereof ~
i reason of the required amount OF stock not
being voted. shall not dissolve this copper
] alton. but the directors and other oincers
then in Office shall hold the same and con-
tiuue until an election can be held MS soon
i thereafter as possible alter puhiication rs
aforesaid and after the Secretary shall nav
| sent To each stockhoder or his authorized
l tl,r. no mail fo his last known
4 address notice thereofl0 days prior there
majority of said directors shall consti
tute Quorum for the transaction oil husl
ness. They shall annually elect from th'
stockholders President. Vice President
, Secretary and Treasurer.
The powers and duties of said officers
shall be such as shall be provided hy safe
. Board of Directors. and as properly AM
usually belonging TO said officers; and he
: fore entering upon the discharge of his du
ties the Treasurer shall give bond in suel
sum as shall be prescribed by me BOARD .
Directors and il shall be discretionary Wit
the said board to require bond OF any othe
:, | officials or employees.
;, The PRESIDENT shall be and is hereb
designated as the presiding ofhrer, bu
+ shall have no vote herein except IN cas-
/, there be tie vote. which he s;iall the
= give the casting vote.
upon whom citation and NIL other legal PR
. cess shall be served. aud in the event OF hl
a absence or a vacancy in said office from an
cause. then upon the Vice President an
in case OF the absence of both OF said Officer
or vacancy therein, then upon the Seer
e tary.
The Board of Directors shall have pows
and authority to adopt all bylaws. ruiz
y and regulations not Inconsistent with III
Is charter for the proper manag ement, contr
n and conduct of the business Of the Cor
: pany and for the accomplishment uI u
= objects OF its formation and the same
- change alter or amend. to acquire. receiv
l. purchase, erect and construct any and I
- kiuds.of buildings, sell. convey. lease mol
gage. pledge or Iypothicatc such propert
real. personal aud mixed as may be nece
sary and convenient and proper for u
transaction of the business of the corpo
, ration :aad through its proper officers
- make and sign all notes. bills. drafts, orde
n or bonds contracts aud instruments
=. writing necessary and proper III the co
C. duet IF such business. to fix tue salaries
all officers or employees, to fill all vacanci
- occurring among their own niimher
among the officers OF the Company.and ge
orally to do all such matters and things
may be necessary in the conduct and ma
agement of the business not otherwise pi
d. vided forh the charter.
The following named persons are herel
declared to constitute the first Board
II Directors. to-wit: Judge r. F. Montgol
ery. w N. White. Jos. X. Ransdeil. )
Guenard and Chas. r. Egelly. who SIN
lis hold Office unit; the 18th day OF Janual
ne 1894.
or And the following named persons a
M hereby declared to be the first officers
it said Company. viz: President. J :. N
ID. liken Vice President. f. K. Bernard q
us Rotary and Treasurer.V. NJ. Purdy; all
d. whom shall hold Office until the 18th day
sh January, 1874.