The weekly Thibodaux sentinel and journal of the 8th Senatorial District. [volume] (Thibodaux, Lna. [i.e. La.]) 1875-1898, 1893-07-22

written Obligations, and the same tn secnra
whenever deemed proper, bv MORTGAGE or
pledge, as the case may be, of the franchises
and the property, real and personal, incomes.
revenues cohtrloutlohs and receipts of said
corporation, and payable in sucn amounts
upoa such terms and conditions, and at sncb
times and places, the whole as the Board Of
Directors may direct or designate. with
power TO sell, pledge or otherwise dispose 81
SAID bonds and written obligations as said
boara OF directors may deem proper aud
expedient.
ARTICLE w.
The Capitol Stock of said corporation il
ereby fixed at Twenty-Five Thousand
Dollars {S2o.O00) represented by Two hun
dred and fifty shares of One Hundred Dol
lars each. to be paid in instruments not ex.
eeedlhg ten per cent per month on the cali
OF the Beard OF Directors. Which shares
have been subscribed for as follows, to:wit
Leon Godehaux, 200 shares. Ed
ward GodchauX, 10 shares. 3.-Cbarles
Godchaux, 10 shares. Paul l.. Godchaux,
~ shares. 9-Albert Godchaux, 10 shares.
ALEXANDER Theriot, | share.
This corporation Is authorized to ommenee
business Immediately after the signing of
these presents by The appearers aforenained.
No share OF the said Capital Stock of this
corporation shall be transferable. except on
the books o; the corporation, nor until the
certificate Of Stock shall have been deliver.
"Ho e"iy SuhOClCu.
ARTICLE V.
The control, management, direction of af-
fairs, am ell powers of said corporation.
shall be vested IN and exercised by a Board of
Directors, composed of Three stockholders
owning each at least Ten shares of the stock
OF SAID corporation said Directors to be
elected annually on the First Monday Of
June 1894. Each Stakeholder represented
in person or by proxy at such meeting, shall
| t1 PntIflpH I'm N UAtn fnp a.ah e
stock owned 10y him. Notice OF such meet
lngs shall be published twice, during two
consecutive weeks, in any newspaper pub
lished in the Parish OF Lafonrche, inn
mediately preceding such election. Said
election TO be held at the Office of the cor.
poratlon, un"er the supervision of Two Com
mIssloners to be named b7 the Board of Di-
rectors. and the Three stockholders receiving
the highest number of votes shall be de-
clared elected. Failure to hold an 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
ctl as above provided for.
The Directors shall elect from their own
! amber. at the first meeting after their own
lection, u President and a Secretary and
J easurer, who shall serve for one year or
h-til their respective succe ssors are elected.
Two Directors shall constitute a quorum
for the transaction of business. Vacancies
occurring i'll the Board Of Directors, and all
other vacancies. shall be filled for the'un-
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 ap-
point from time to time, or dismiss at pleas
ure, such Clerks, Agents or Labocers, as
may be deemed necessary for the purposes
and business of said corporation.
ARTICLE vi.
The following named persons shall eonsti.
tute and are hereby named and appointed
the first Board of Directors, viz
III Leon Godchaux. ~ Edward Godchaux,
and 81 Charles Godchaux, with Mr.. Leon
Godchaux az President, and Charles God
chaux as Secretary and Treasurer. They
shall hold office until the first Monday ia
| June. 1894, or until their successors are duly
elected.
ARTICLE VII
No stockhoIder shall ever be held liable or
responsible Tor 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
infOrmaiity in organization have the effect Of
rendering this Charter null, or of exposing a
stoekholder to any liability beyond the
amount of his stock.
ARTICLE VIII
us SudILGL may 10 diiuCudSttg d~tcECu UT
modified, and the corporation may be dis
solved, with the assent of the stockholders
holding Three-fourths OF the stock. at "A spe-
clal meeting to be called Tor the purpose,
either by the President, or Board of Diree-
tors, or by stockholders holding II majority
Of the stock. The said meeting shall be
called after ten days previous written notice
given 70 each stakeholder, which notice shall
state the obj ct OF the meeting, II 4me the
date and hour when and the place where to
he held. provided the place shall be in the
Parish where the corporation mas It's domi-
! ellie.
ARTICLE IL
When this corporation is dissolved, either
by limitation ur otherwise, It's affairs gu all
be liquidated by Two commissioners 10 DO
appointed Tor that purpose from among the
stockholders, by the Board OF Directors, and
said Commissioners are hereby vested with
full power and authority to sell and dispose
OF the assets AMI property, Doth real and
personal, of salG corporation, whether at
} private or public sale, aud to convey full
and complete title thereto, and to DO ard
/, perform all acts necessary, useful and pr0O-
or 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
4 any net proceeds, if any, among the stock
. holders ratablv and proportionately to the
/ amount 0, shares owned by each.
Thus done and passed at my office in the
City of New Orleans in the presence of the
1 aiorenamed witnesses, who have subscribed
{ their names hereto, together with the APP
/, bearers. and me, said Notary, on the DAY and
, III the month aud year first above said and
Il written.
\ Original isLed y
LEON GODCHAUX.
ALIEN. THEREFOR.
= CHARLES GUDCuAUX,
+ PAUL l.. GUDCHAUX,
per pro EDWARD ODChAUX.