The Meridional. (Abbeville, La.) 1856-1906, 1901-02-09
ARTICLE FIFTH.


~poration shall be vested in and be ex-
ercised bv a board of nine directors,
each of whom shall hold in has own
name or in the name OF a partnership
whereof he is a member at least one
share of stock, to be elected annually
on the first Monday of May OF each
year; the first election tO,be held 1852.
All such elections shall be by ballot
at the Office of the corporation under
the supervision of three commissioners
to be appointed by the board of direct
ors and in the absence Of any Of said
commissioners, the president shall have
power to fill the place BY appointment.
Notice of each election shall be given
to the stockholders by the secretary by
mail at least ten days prior to the date
Of such election, and the directors
elected shall serve and continue in Of
fee until their successors shall have
been elected and qualified.
Five directors shall constitute a
quorum for the transaction of any bust
ness. At any meeting of the board OF
directors, n director absent from the
town may be represented by any other
director, Who may cast the vote Of said
absent director according to the writ
ten instructions ofsaid absent director
The Board of directors shall have the
power by three -tourths vote OF all the
directors to sell, lease, mortgage or
pledge any and all the property, o
able and immovable, belonging to the
corporation without referring to the
shareholders for the power to do so, land
they may also purchase for cash or on
credit, property of any kind required
for any of the purposes of the corpora
ton without authority OF the share
holders.
All contracts, checks and notes OF
the company shall he signed by the
president; Or, in his absence or inability
to act, by the vice-president; also by
the secretary and treasurer, and in case
OF the absence or inability of the secre-
tary and treasurer to act; 10y some per
sem designated in his place by the board
of directors.
The board of directors shall have full
authority to employ, appoint or dismiss
such managers, superintendent, agents
and employees as they may deem best,
duQ W t6SG i'll iuClh ouCd Po"SiS 49,
they see fit and fix their remuneration.
The board Of directors at first meet
ing after election shall elect from their
number a president and vice-president
and shall elect a secretary and treas
urel, who need not be a stakeholder in
the corporation.
The board of directors shall have the
power To make and estab ish, lis well
as amend and alter, all By laws, rntes
and regulations deemed requisite for
the support and the management Of
the affairs and business Of the corpora
ton; to make and issue bonds. notes
and other obligations; 70 issue and de-
liver bonds or obligations thereof; fnr
property transferred TO and received !1y
the corporation; and TODD all such acts
and things lis may be necessary to car
~ out the objects and purposes for
which this corporation is organized.
Until the next general meeting to be
held under this charter, VIZ: On
the first Monday Of May 1902, the board
of directors shall lie composed of Eli
Wise, Gus Godchaux, J.. 0. Broussard,
L. Sokoloski, A. Kaplan, Jos. Blum,
d. NJ. Lichtenstein.S. w. ~Lichtenstein,
Henry Kaplan, with Eli Wise as presi;
dent, and Gus Godchaux vice-president.
The secretary ana treasurer. and all
officers are to ue elected - int b0arS
directors:
In case of any vacanc aer II
above named board OF 81. eetars n
any other, the rem .li.5raQ melEbr
shall have the power TO ~ ~vaeagcie
and all directors and officers of thiS
corporation shall remain ir office until
their successors are elected and quail
fed.
Failure to hold the annual meeting
shall not dissolve the corporation, our
the meeting shall he held as soon as
possible after the regular date
ARTICLE SIXTH
Whenever this corporation may b,
dissolved, whether by limitation, or
from any other cause, its affairs shall
be liqu,dated by three commissioners,
to be appointed from among the stock
holders at a general meeting of the
stockholders convened for such pur.
poses, of which meeting thirty days
previous notice shall be given by adver-
/ tisement in one of the newspapers pub
lished in the town of Abbeville, La,
!, aud in n of newspapers published in
New Orleans and the vote of the own
!, ers Of a majority of the shares, shall be
) required to elect. Such commissioners
r shall remain in office until the affairs OF
/ the corporation shall have been fully
} li%quidated. and in Ease Of the death OF
j one or more of said commissioners, the
: survivors or survivor shall continue II