The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1901-11-30

lars OF the capital STOCK snail nave Deen
subscribed for and ten per centum paid
thereon.
The board of directors shall have the
right to determine how much stock shall
beissued.
ARTICLE w. ~
The corporate powers of this Company
shall be vested in and exercised by a board
of live directors. consisting of the Presi-
dent, Vice-president and three stockh0ld-
ers. Three of said board shall constitute a
quorum for the transaction of business,
and their decisions shall be valid corporate
acts. ff9 tsssfis ~ ~
The following persons shall constitute
the first board of directors: r. j. Hamley,
President; Yancey Bell. Vice president
J. s. Milikin. Robt. Nicholson and j.. +.
Ransdell.
No psssou shall be eligible as director
or officer who is not stakeholder of this
Company. 10
During the absence of the President the
Vfce-President 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 shalt continue in Office until
the first Monday in January, (l903) 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. s,-.,s. ga -
Notice of such election shall be given to
each stockholder blythe 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 evenB of
the failure of any commissioner or commits
sioners to attend. the President shall by
appointment. 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 well as 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 Ma
At every election and meeting each stock
holder shall be entitled TO vote tor each
share of stock registered in his name and
may vote by proxy. "a
The election of directors shall be by bal
| lot, and the majority in amount of votes
cast each share of stock voted upon to be
| counted for ore vote, shall elect the per-
! son or persons for whom they were cast.
| After each election the board of directors
GERS of said ompany.
The board OF directors shall have full
1 power to fill vacancies in their number
caused by death, resignation or otherwise
from among the stockholders OF the cor.
| poration.
ARTICLE ".
The said hoard shall have full control Of
the property of this Company, and shall St
4 conduct. manage and use the same as III
their discretion they deem lit and that il
consistent with the interests oil this Com
panysor tie welfare of same.
The said board is further authorized Il
| frame and adopt such bylaws. rules anC
regulations as the affairs and business o
-the corporation may require. and as it ma,
deem necessary for the conducting and
management thereof. provided the same
shall not conflict with this charter. or with
the laws of the State or of the United States
The said hoard shall elect OF appoint
secretary and treasurer, and such othel
officers. agents, employees. servants ant
! clerks as IL may deem necessary, for the
conducting of the business OF the corpora
ton; fix their compensation, term of ser
| vice, with the right to dismiss them at The
said boards pleasure; and said board shall
| have the right to fix and determine thu
salaries for the several officers herein pro
| yided for.
/ ARTICLE vi.
| This charter may be changed. modified oil
4 amended. the capital stock increased OF de
creased, or this corporation may be dis
| solved at general meeting of the stock
holders convened for the purpose. with the
assent of three-fourths OF the entire CAPT
| tai stock, whether present or represented
| Mt such meeting.
Notice of such meeting shall be serye6
| by the secretary on each stakeholder. ii
/ writing, ten days prior to such meeting
In case of dissolution or termination o
this corporation. either by limitation OF il.
charter or from any cause. the liquidation
of its affairs shall be conducted by three
commissioners selected from the stock
holders. with like assent aud at a meeting
called for that purpose as above set fortt
in this article.
Said commissioners shall remain in Office
! until the affairs of said corporation shall
have been fully lquidated
| In case of death of one or more of said
| commissioners. the survivors or survivor
shall continue to act.
ARTICLE VII.
No stakeholder of this corporation shall
! be liable or responsible for the contracts oil
faults thereof. in any further SUN than he
| unpaid balance due the Company on ths
shares of stock subscribed for or owned b,
him: nor shall any informality Ia organiza
tion have the effect of rendering this char
ter null or exposing a stockholder to any
liability beyond the unpaid balance of any
OF his stock
Thus done and passsd at my Office In The
city of Providence. East carroll parish
Louisiana. on the, day. month ana yeal
herein first above written in Ike presence
of Frank Byeriey and j. w. Dunn. coupe
tent witnesses OF lawful age and resident.