The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1901-07-13

| bilitv to act, upon inc NlCc-i lco'"cht, vi
| in the absence or inability of both the
President and Vice President TO act, then
upon the Secretary OF this
company.
The President shall be the executive
! officer of this corporation; he shall pre-
| side at meetings of the Board of Directs
ors, and stockholders.
| ARTICLE III.
| 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 1ol'
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
dredgc or improve harbors, channels
and water ways of all kinds, whether navl-
gable or not, and whether owned or con-
trollcd by this corporation, or any othcl
person, the State or national govern
mcnts, to own, buy, sell, lease, build, re-
pair or operate dredgc boats, tow. boats
or any other kind Of boats or water craft
and all the appurtenances and necessarles
| thereof or in any way connected there
withfand generally to do all things ne
cessary to properly conduct the business
of this corporation.
ARTICLE ".
This corporation may sue and be sued
| in its corporate name, hold, have, re-
ceiye, purchase, convey, sell, mortgage,
| hypothecate, pledge, lease and sub-leasr'
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 ma
ayers directors, officers, clerks and
agents as the interest and convenience OF
said corporation may require, make and
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
TO alter and change at pleasure, and shall
possess all the rights, powers and prlvl-
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 OF
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 1928 00O), represented
by Two Hundred and Fifty shares (2aO)
Of One Hundred Dollars ($lO0) each.
All stock subscribed for shall be payable
in cash at tie time the certificate there
fore is issued, OF 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 (75l 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 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 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 .
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 OIL
| 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 to be cast either
| by the person in whose name the stock
appears on the books Of this CORPORA ton
at the time Of the voting or by his agen;
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 E. William Drei5ho!z, with the said
Thorgeson as President. said Martin as
| Vice-President 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
arc elected and qualified; each SUISSE
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, AZ elee-
tien 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
OF as soon thereafter as possible elect
from their oyn number President, a
Nice-President and a Treasurer
A failure to elect Directors on tie da.c
above specified shall not dissolve this
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