The Houma courier. (Houma, La.) 1878-1939, 1900-12-22

be served On the President of said corpo
IatlolA orln case Of his absence upon tn,
Alce-Fresldent, or in the absence of both
upon the Secretary Of said company.
ART. ".
The corporate powers of said corpora
ton shall be vested in and exercised Inv =
Board OF Directors composed of seven
stockholders. Said Directors shall he
elected annually on Thursday after the
hrst Wednesday in February of each
year, or such other day as the stock
holders at a regular meeting NAV fix, and
all such elections shall be bv ballot and
conducted at the office of said corporation
noe h sqperintendence of three COM
mlssloners, to be appointed by the Board
OF Directors, Of which election, thirty
days prior notice shall be given in a news
paper published in the town of Houma
ana the directors thus elected shall
serve until their successors shall have
been elected provided that the first cleo
ton under this charter shall be held in
the year 1902. A majority of the votes
cast shall elect and each share If etoct
shall be entitled to one vote. either in
person or by proxy. A failure to elect
directors on the day required shall not
dissolve the corporation; bnt the tbon
Board of Directors shall continue to hid
their office and the election shall he Hold
within twenty days thereafter. and ton
Gays prior notice shall be given in a news
paper pnollshed IN the town Of Houma.
ANY vacancy occurring in said Board
rom any cause shall be filed by cleo.
ton by the remaining directors. Fonr
directors shall constitute aquOr@Lm for he
transaction OF business. Said Board If
directors at their first meeting in each
year shall elect out of their number n
PRESIDENT and LIST. and End. Vice-PTasi
dents; and also shall elect q Secretary and
q Treasurer, and shall appoint from tinra
time, such officers, clerks, agents ana
confer power to appoint same on am
proper officer and other EMPLOYEES as
may be deemed necessary for ,tbn brs;
ness and purposes of said Corporation snd
dlslnlsssame at their pleasure: and sboII
tuL power to make, as we'll rs rbonTa
or amend, c~onfOrmably to this act Of ;9-
corporation, all bylaws, rules and rad
deemed requisite for the sunnoT9t
management of the affairs and b,Isi
OF said corporation, and shall have
tull power to borrow money avaaI7to
mortgages, issue bonds, make contracts.
and generally do all things and acts in MI
matters pertinent to the objects of tbis
corporation, OF which, or ma ba n~aru,it-
led by the laws applicable to ~cornora-
lions, as also TO issue full paid shares Of
its stock or bonds or obligations of This
corporation, in payment for labor dome
money or right in property ~actnaIIv5
received; but any rule or..bv-law Is snT-
ect to repeal or modification bv The
holders OF the majority OF stock AT anv
meeting Ofthe company.
AFr. v. :
The capital stock is fixed at Two NIL
ion Five Hundred Thousand Dollars
liyided into twenty-five thousand shareas
# 500 each and which shall be paid as
Ten per cent thereof at lime of
Inscription and balance as called for bvl
he Board Of Directors.
Work under this charter can commence
7hen Two Hundred and Fifty shares of
took are subscribed for. In case of fail- /
re OF any subscriber to paw the INSTALL
leDts on his stock as required, the Board
/ Directors shall have the option after
lirty days written notices to the delin-
uenti OF FORGETTING his stock with an
mounts previously paid thereon; and no
.oek-holder shall haveYthe right to vote
lille in default for unpaid instaf 4ments.
o egek-hQlder shall o. held lable for
~esnthaets'Or faults q said c0fPoration