The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1901-12-14

Lut CITY Ol anu Oh Tile SuTTenu
er OF the certificate therefor.
No transfer OF any fractional part of
share shall be made.
The corporation shall commence doins
business as soon as twenty thousand dol
lars of the capital stock shall have been
subscribed for and ten per centum pait
thereon.
The board of directors shall have the
right to determine how much stock shall
be issued.
ARTICLE w.
The corporate powers of this Company
shall be vested in and exercised by board
of five directors. consisting of the Presi
dent, Vice-president and three stockhold
ers. Three of said board shall constitute a
quoHlm for the transaction of business
and their decisions shall be valid corporate
acts.
The following persons shall constitute
the first board of directors: f. j. Hamley.
Presidents; Yancey Bell. Vice. president.
j. S. Millikin. Robt. Nicholson and j. Z.
Ransdell.
No person shall be eligible as director
or officer who is not a stakeholder of tins
Company.
During the absence of the President the
Vfce-Presdent shall act and preside. The
President, or in his absence, the Vice.
president shall be the proper person upon
whom citation or other legal process shall
be served.
Said board shall continue in office until
the first Monday in January, Q913) One
Thousand Nine Hundred and Three. on
which date and thereafter annually, a
board of directors shall be elected on the
first Monday in January of each year
unless the same should be legal holiday
when the election shall be held on the next
legal day thereafter,
Notice of such election shall be given to
each stakeholder by the secretary in writ
ing at least ten days prior to each election:
and the board OF directors shall appoint one
or more stockholders TO preside at such
election as commissioners, In the event of
the failure OF any commissioner or commits
sioners to attend. the President shall. bv
fill the vacancy. Any failure
by any cause whatever to elect directors
The day named for that purpose shall not
dissolve the corporation, but the directors
then in Office as we'll us the officers of said
Company, shall hold over until their sue
cessors' are chosen.
In such event, the President shall cause
another election to be held in thirty DAYS,
aud shall give notice thereof as herein be-
fore provided.
At every election and meeting each stock
holder shall be entitled to vote for each
share of slock registered in his name and
nay vote by proxy.
The election of directors shall be by bal
OF, and the majority in amount of votes
EAST. each share of stock voted upon to be
counted for ore vote, shall elect the per-
son or persons Tor whom they were cast.
After each election the board of directors
shall elect from their own number the Off
GERS of said ompany.
The board OF directors shall have full
power to NIL vacancies in their number
,aused by death, resignation or otherwise
rom among the stockholders OF the cor
Doration.
ARTICLE ".
The said board shall have full control of
The property of this Company, and shall so
conduct. manage and use the same as in
heir discretion they deem fit and that is
consistent with 1.-The interests of this Com
oany or tie welfare of same.
The said board is further authorized to
ralne and adopt such bylaws, rules and
equations as the affairs and business of
ne corporation may require. and as it may
ieem necessary for the conducting and
management thereof. provided the same
mall not conflict with this charter. or with
ne laws OF the State or of the United States.
The said hoard shall elect or appoint a
secretary and treasurer, and such other
'ihcers. agents. employees, servants and
Jerks as 1t may deem necessary, for the
conducting of the business of the corpora.
100; NIX their compensation, term of SER |
nee, with tae right TO dismiss them at the |
ala boards pleasure; and said board shall |
lave the right to fix and determine the
aiaries Tor the several officers herein pro- |
rided for.
ARTICLE VI
rms charter may be changed. modified ri. |
mended, the capital stock Increased or de. |
reased, or this corporation may be dis
oiseo at general meeting of the stock
olders convened for the purpose. with the
ssent OF three-fourtbs of the entire eani.
ri stock. whether present or REPRESENTED
I such meeting
Notice al such meeting shall be served
y lne secretary on each stakeholder. in
'riting, ten days prior TO such meeting.
IN ease oil dissolution or termination of
! fs corporation. eitherby limitation OF its
itarter or from any cause. the liquidation
I its AFFAIRS shall be conducted by three
commissioners selected from the stonl
olders. with like assent and at a MEETING
allied for that purpose as above sci forth
this article VI
said commissioners shall remain in Office
nth the affairs of said corporation shall
ave been fully liquidated.
In case of death of one or more IF said
the Survivors or survivor
iail continue to act.
ARTICLE vii.
No s;oehbolder of this corporation shall
liable or responsible for the contracts or
uits thereof. In any further sum than tho I
hpaid balance due the Company on the
ares OF stock subscribed for or owned nv
m; nor shall any inforlnality In organiza-
On nave the effect ofrenderiug this char ,
nun or exposing stakeholder 10 any
his stock :. ans
y IF Providence. East tarr,,li .n,rish
'tisiaiia. ON the day. mosll ans, lyearf
rem ilfsf above written in tlse presence
fral,k f5serley and j. W Dunn. comma. ,
NJ witnesses of lawful aye and residents
tlis eity. who hereto sign their names