The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1901-07-27

nature of the business to he carried on
|by it, are hereby declared to be as fol-
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 ny
this corporation or any other person; to
dredee 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 appurtenances and necessaries
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 Nv.
This corporation may sue and be sued
in its corporate name, hold, have, re"
ceive, purchase, convey, sell, mortgage,
hypothecate, pledge. lease and suitcase,
and enjoy real and personal property.
also borrow and 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 and
establish such bylaws, rules and regula>
tions for the proper management and
regulation of the affairs of said corpora
ton, as may be necessary, and the same
to alter and change at pleasure, and shall
possess all the rights, powers and privl"
leges 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 sum of Twenty five
Thousand Dollars (S25. OOO, represented
by Two Hundred and Fifty shares (25O)
of One Hundred Dollars ($lOO) each.
All stock subscribed for shall be payable
in cash at 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 TO this corporation or for ser-
vices actually rendered to it.
The company shall begin operation as
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 10
each stakeholder 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 Ivy them, and which additional
shares shall be paid for at each time ana
in such amount and manner as the Board
of Directors may direct. After the ex
piration of said time the Board of Di-
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 he made on
the books of tie corporation and shall be
signed by the stockholders or by his
attorney.
At all elections by or meetings of the
stockholders, each share of stock shall
be entitled to one vote 10 be cast either
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 composed of stockholders thereof and
they and each of them shall be elected
by majority of all the votes cast at a
meeting to be held for that purpose.
Theodore A. Thorgeson, Francis Martin,
and X. William DreibhOlz, with the said
Thorgeson as President, said Martin as
Vice-PresideDt and said Driebholz, as
Secretary>Treasurer, shall constitute the
first Board of Directors and they shall
hold Office until the second Saturday in
January. 1903, or until their successors
are elected and qualified; each subse-
quent Board shall take their seats imme.
diately following their election, or as
soon thereafter as practicable, and shall
hold their offices until their successors
shall have been elected and qualified.
On the second Saturday of January,
1908, and annually thereafter, an cleo
ten 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 rs possible, elect
from their own number President, q
Vice-President and Secretary. Treasurer
A failure to elect Directors on the date
above specified shall not dissolve the
corporation but the then existing Board
of Directors shall continue to hold their
offices and another election shall be held
as soon thereafter as practical at time
to. be fixed by the Board Of Directors
then in Office, whereof FIVE days prior
notice shall be given in the manner
above provided.
Any vacancy occurring in said Board
of Directors from any cause shall be