The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1893-02-18

market value within 10 days from such
offering, then the same may be otherwise
disposed of.
All stock purchased by the Company
may he re-issued at the discretion OF the
Board Of Directors.
s ARTICLE w.
The corporate powers Of this organization
except as hereinafter or otherwise pro-
vided, shall he vested in and It's aftairs and
business be managed by Il Board of i've Di-
rectors. each OF whom shall own in his own
right at least five shares of the stock OF SAID
corporation.
The Boardof Directors shall be elected
by tie stockholders annually on the 18th
day of the month OF January OF each year.
except when said date falls on sunday then
| in that event. said election shall take place
on the day thereafter, the first election I'M
der this charter to be held on the 3lst day
of December, 1892.
| At such elections each share of sock rep
resented shall he entitled to one vote, and
| the five stockholders receiving the highest
number of votes shall be declared elected
directors for the ensuing term provided
! that at least three-fourths of the subscribed
stock be voted at such election otherwise
the election to be null and void and new
election to be held as hereinafter provided
/ for. Said election shall be by ballot. and
A
under the supervision of the stockholders
appointed by the Board Of Directors.
| The Secretary shall give 10 days notice OF
such regular election by publication IN a.
| newspaper published in the town OF Provi-
tIence. La. Failure to hold an election on
the aforesaid date. or the failure thereof by
reason of the required amount of stool, not
| being voted shall not dissolve this corpor-
1 alton, but the directors and other officers
then in Office shall hold the same and con-
tinue until an election can be held as soon
thereafter as possible after publication as
aforesaid and after the Secretary shall have
/ sent to each stakeholder or his authorized
agent through the mail to his last known
address a notice thereofl0 days prior there
to.
A majority of said directors shall consti-
tute quorum for the transaction OF BUSH
ness. They shall annually elect from the
stockholders President, Vice President.
Secretary and Treasurer
The powers and duties of said officers
shall be such rs shall be provided BY said
Board of Directors. and as properly anc
usually belonging TO said officers; and ne
fore entering upon the discharge of his du-
, ties the Treasurer shall give bond in such
sum as shall be prescribed by the Board OF
Directors. and ii shall be discretionary with
the said board to require bond OF any ether
officials or employees.
The President shall be and is, hereby
L
shall have no vote herein except in case
| there be tie vote, which he shall then
give the casting vote.
He is hereby designated as the officer
upon whom citation and all other legal pro
g cess shall be served. ana in the event of his
: absence or a vacancy in SAID Office from any
cause, then upon the Vice President; and
in case of the absence of both OF said officers
g or a vacancy therein, then upon the Score
y tary.
The Board of Directors shall have power
y and authority to adopt all bylaws. rule
and regulations not inconsistent with thi
charter for the proper management, contro
and conduct of the business Of the Com
Ipany, and for the accomplishment of thu
objects OF its formation and the same t
change. alter or amend, to acquire, receive
purchase erect and construct any and al
kinds.of buildings, sell, convey. lease mort
gage, pledge or hypothicatc such property
real. personal and mixed. as may be neces
= sary and convenient and proper for tn
transaction Of the business of the corpor
alton: and through its proper officers t
make and sign all notes, bills. drafts, order
or bonds, contracts and instruments o
writing necessary and proper In the con
- duet of such business. to fix the salaries o
all officers or employees, to fill all yacancie
Il occurring among their own number o
among the officers OF the Company and gen
orally to do all such matters and things q
, agement of the business not otherwise pre-
= yided for by the charter.
The following named persons are hereb,
declared to constitute the first Board Q
T Directors. to-wit: Judge f. +. Montgom
ery. w N. White. Jos. e. Ransdell, J
Gnenard and Chas. r. Egelly. who sha
is hold Office until the 18th day of JANUARY
re 1894.
Or And the following named persons ar
n hereby declared to he the first officers 9
t said Company. viz: President. j. s. Mi
d, iken: Vice President. F. X. Bernard Sc.
as rstary and Treasurer. v. M. Purdy; all {
d, whom shall hold office until the 18th day
~ ! January, 1854.
~ ARTICLE v.
is No stakeholder of this corporation sha
OF ever he held Liable or responsible for th
as contract, faults or failures thereof in an
a. further sum than the amount OF unpai
of stock for which he has Subscribed or ma
n own.
" Nor shall any informality in organizatio
ey have the effect of rendering this chartt
n. null
he This corporation shall have power
p issue stock for services rendered. or to
IS, rendered to it, or IN payment Of purchase
~ made by it.
ARTICLE VI.
whenever this corporation shall be di
on solved. either by Limitation OF its charter
from any cause.-The business and affairs the
i, OF shall be liquidated and wound up by fhr
us commissioners to be appointed by the stoc
holders from among their own number at
general meeting convened for that purpo
he after % days prior notice in newspap
III. published in the town OF Providence, al
zee also sent to each stockholder or his autht
IRA lied agent by the Secretary. through 9
,er mail to his last known address Said col
missioners shall remain in office until t
it's affairs of said corporation shall be full
i've liauidated, and should there be vacan
ed from any cause. the remaining commissio
all ers shall continue to act and wind up t
nd affairs of this corporation. Said comm
,e sioners shall give bond in such an amou
as as should be required by the Board of
RS. rectors.
cir .prYc,vvrr
III,
ige This act of incorporation may be mo
on fed. changed, altered or amended, or q
ma corpoation may be dissolved by |
AS assent of three-fourths of the capital sto
ors represented at any general meeting OF
per stockholders convened for that purpo
'of: after 20 days notice given to each sto
ma holder or his authorized agent through !