The weekly Thibodaux sentinel and journal of the 8th Senatorial District. [volume] (Thibodaux, Lna. [i.e. La.]) 1875-1898, 1893-06-24

~ NooihsALiobSfu AIu III EdH1t 10 Secure
whenever deemed proper, bv mortgage or
pledge. as the case may be, of the franchises
and the property, real and personal. incomes.
revenues, contributions and receipts of said Y
corporation, and payable in sucn amounts.
upoS, such terms and conditions, and at such
times and places, the whole az the Board Of
Directors may direct or designate. with
power to sell, pledge or otherwise dispose Of
said bonds and written obligations as said
Board of Directors may deem proper aud
expedient.
ARTICLE ".
The Capitol Stock Of said corporation il
ereby fixed at Twenty-Five Thousand
Dollars iS25.00Ol represented by Two hun
dred and fifty shares of One Hundred DoI.
lars each, to be paid in instruments not ex.
ceedlug ten per cent per month on the call
of the Beard of Directors. Which shares
have been subscribed for as follows, to:wit
Leon GodchaaN, 209 shares. Ed
ward Godchaux, 10 shares. 3.-Charles
Godchaux, 10 shares. Paul L. Godcbanx
10 shares. 3-Albert Godchaux, 10 shares.
b.-AleXahder Theriot. l share.
his corporation Is authorized to commence
business Immediately after the signing of
these presents by The appearers aforenamed.
No share OF the said Capital Stock of this
corporation shall be transferable, except on
the books ot the corporation. nor until the
certificate of Stock shall have been deliver.
ell to the corporation aud duly Cancelled.
ARTICLE Y.
The control. management, direction of af-
fairs. anu ell powers of said corporation.
shall be vested in and exercised by a Board Of
Directors. composed of Three stockholders
owning each at least Zen 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
be entitled to one vote for each share of
stock owned by him. Notice ot such meet
ipgs shall be published twice, during two
consecutive weeks, in any newspaper pub
lished in the Parish of Lafourche, i'm
mediately preceding such election. Said
election 10 be held at the Office of the cor.
poration, un9er the supervision of Two Com
mIssioners to be named bJ the Board OF Di-
%rectcrs. and the Three stockholders receiving
the highest number of votes shall be de.
clared 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 hold after
notice OF the time and place be duly publish
ct as above provided for.
The Directors shall elect from their own
'mber. at the first meeting after their own
&, elton, ii President aud a Secretary and
Il easurer, who shall serve for one year or
u. I'll their respective successors are elected.
Two Directors shall constitute a quorum
for the transaction of business, Vacancies
occurring III the Board of Directors, and all
other vacancies. shall be filled for the uu-
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 corpoi alton.
ARTICLE vi.
The following named persons shall cousti.
tute and are hereby named and appointed
the first Board Of Directors, viz:
ul Leon Godchaux. ~ Edward Godchaux,
AVID 81 Charles Godchaux. with Mr.. Leon
Godchaux as President, and Charles God
clauX as Secretary and Treasurer. They
shall hold office until the first Monday iu
June. 1894, or until their successors are duly
elected.
ARTICLE VII.
No stakeholder shall ever be 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
informality in organization have the effect OF
rendering this Charter null, or of exposing "a
stockholder to any liability beyond the
amount of his stock.
ARTICLE VIII,
This Charter may be amended, altered or
modified, and the corporation may be dis
solved, with the assent OF the stockholders
holding Three-fourih OF the stock. at "A spe-
cial meeting to be called tor the purpose,
either by the President, or Board OF Direc-
tors, or by stockholders holding u 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 obje ct OF the Meeting, Ii sme the
date and hour when aud the place where to
lie held. provided the place shall be in the
Parish where the corporation has it's dOuti-
! ellie.
ARTICLE TX.
When this corporation is dissOl we'd, either
by Limitation or otherwise, It's affairs sl ali
be liquidated by Two commissioners to DO
appointed for that purpose from ainong 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 and property, Doth real and
personal, OF sala corporation, whether at
private or public sale, aud to convey full
and complete title thereto, and to do and
perform all acts necessary, useful and prop
or to fully and completely liquidate the af-
fairs OF said corporation, aud with power to
apply proceeds to the payment Ut .he debts
due by said corporation aud to distribute
any net proceeds, if any, among the stock
holders ratably and proportionately to she
amount Oh shares owned by each.
Thus done AMI passed at my office III the
City OF New Orleans in the presence of the
aforenamed witnesses, who have subscribed
thei: names hereto, together with the ap-
bearers. and me, said Notary, ON the day and
in the month aud year first above said and
written.
Original igned y
LEON GODCHAUX.
ALEX. rHERIUr.
CHARLES GUDCHAUX,
PAUL L.. GUDCHAUX,
per pro EDWARD GUDChAUX.
PAUL L. GODCHAUX,
ALBERT GUDCHAUX,