The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1901-07-20
side at meetings of the Board OF Directs
|ors, and stockholders.
ARTICLE ILL.,

side at meetings of the Board of Directs
Tors, and stockholders.
ARTICLE Ill.
The objects and purposes for which
this corporation is established and the
nature Of the business TO be carried on
by it, are hereby declared to be as foj'
lows, TO wit;
To buy, sell and deal in land and tim
Der Of all kinds; to drain and improve
lands, whether owned by this corpora
ton or any other person: to dig and main
tain canals on lands. whether owned by
this corporation or any other person; to
dredge or improve harbors, channels,
and water ways Of all kinds, whether navi>
gable or not. and whether owned or con-
trolled by this corporation, or any other
person, the State or national govern
ments, to own, buy, sell, lease, build, re-
pair or operate dredge boats, tow. boats
or any other kind of boats or water craft
and all the appurteDances and necessaIles
thereof or in any way connected there
with and generally to do all things ne
cessary to properly conduct the business
Of this corporation.
ARTICLE ".
This corporation may sue and be sued
in lis corporate name, hold, have, re-
ceive, purchase, convey, sell, mortgage,
hypothecatc, pledge, lease and suitcase,
and enjoy real and personal property,
also borrow ard lend money and make
contracts; receive grants of land, or per
sonal property, and make and use cor
porate seal, the same to alter and break
at pleasure; name and appoint such man
ayers. directors, officers, clerks and
agents as the interest and convenience OF
said corporation may require, make ana
establish such bylaws, rules and regula>
tons for the proper management and
regulation Of the affairs OF said corpora
ton as may be necessary, and the same
10 alter and change at pleasure, and shall
possess all the rights, powers and privl-
| lcges to which corporations are, or may
be by any general law or laws OF this
State authorized and entitled TO possess.
| Said corporation may exercise its cor
| porate powers within any other State or
| Territory in the United States or foreign
country that shall authorize the same.
ARTICLEV.
The capital stock of this corporation
! is hereby fixed at the sam Of Twenty tive
Thousand Dollars (s25. 900, represented
| by Two Hundred and Fifty shares (2a0)
| of One Hundred Dollars (sl00) each.
All stock subscribed for shall be payable
in cash 1T the time the certificate there
fore is issued, or the Board of Directors
may issue certificates Of paid up stock in
payment Of property or goods actually
! delivered 10 this corporation or for ser-
vices actually rendered 10 il.
The company shall begin operation rs
soon as seventy five (75> shares Of the
capital stock are subscribed for or dis
posed Of.
Said capital stock may be increased in
the manner provided for by the laws of
| this State, whenever an increase OF SAID
capital stock shall have been authorized
ten DAYS written or printed notice TO
each stOckhOlder shall be given, within
which time persons holding stock in this
corporation shall have the right TO sub
scribe for said increase stock in proper
ton to the number of shares Of stock
held by them, and which additional
shares shall be paid for at each time ami
in such amount and manner as the Board
of Directors may direct. After the eX
piration of said time the Board of Dr.
rectors may dispose of the shares not
taken for the benefit Of the company IN
such manner as they may think proper.
All transfers of stock shall be made on
the books Of lie corporation and shall be
signed by the stockholders or by bis
attorney.
At all elections by or meetings of the
stockholders, each share of stock shall
be entitled to one vote to be cast cithe,
by the person in whose name the stock
appears on the books Of this corporation
at the time of the voting or by his agent
or proxy duly authorized in writing to
that effect.
ARTICLE vi
The business and affairs and corporate
powers Of this corporation shall be cons
Quoted by Board of three Directors, to
be composedOf stockholders thereof and
they and each of them shall be elected
by majority of all the votes east at q
meeting to be held for that purpose
Theodore A. Tho,geson, Francis Martin
and Z. William Drei5hoiZ, with the saiC
Thorgeson as President. said Martin as
Vice-President and said DriebholZ, as
SecretaIy>Treasurer, shall constitute the
first Board of Directors and they shall
hold office until the second Saturday in
January, 1908, or until their successors
are elected and qualified each subse.
quent Board shall take their seats imme
diately following their election, or a;
soon thereafter as practicable, and shall
hold their offices until their successors
shall have been elected and qualified.
On the second Saturday of January
1903, and annually thereafter, an cleo
ton for Directors by the stockholders
shall be held at the Office Of the com
pany, after ten days notice thereof shall
have been given by printed or written
notice mailed to each stakeholder at the
last address given by him to the Secre'
tary.Treasurer. Every Board of Directors
shall, at its first meeting after its election
or as soon thereafter as possible, elect
from their own number President, q
Vice-Pre sident and Secretary Treasurer
A failure to elect Directors on the date
above specified shall not dissolve thu
corporation but the then existing Board
Of Directors shall continue to hold theil
offices and another election shall be held
as soon thereafter as practical at time
to be fixed by the Board Of Director:
then in office, whereof FIVE days priol
notice shall be given in the manner
above provided.
Any vacancy occurring iE said Board
of Directors from any cause shall bt