The Meridional. (Abbeville, La.) 1856-1906, 1901-06-01

establish such by laws, rules and reg
lations as may be necessary for its pro-
per benefit.
ARTICLE II.
The domieile of this corporation and
it's principal office shall be in the City
of Abbeville, in the parish of Vermil-
ion and State Of Louisiana. The Presl-
dent or in his absence TIE Vice-Presi-
dent shall be the official upon whom
citation or other judicial proceedings
may be served.
ARTICLE III.
The capital stock Of this corporation
shalt be fixed at the sum OF 500, GOO and
its charter shall be operative and go
into effect and the corporation shall be-
come a going concern when the sum of
$4,000 shall have been subscribed.
The capital stock of this corporation
shall be divided into 5000 shares of the
par value of $40 each be paid for in
cash or the equivalent in real estate,
improved or Lnimproved land, notes,
bonds or mortgages or any other pro-
perty which the Board of Directors
may approve. 1t Is expressly under
stood that at least 40 per cen of the
par value of the stock shall be issued
and retained by the Board Of Directors
for said company to be used as treasure
stock, and such stock so held as treas
ure stock shall be disposed of by the
Board of Directors of said corporation,
upon such terms and for such prices as
they shall deem most advisable to the
best interests nf the said corporation
and the proceeds thereof shall be used
to the best interest of and for the pur-
poses of the business of the corporation.
article ".
The object and purposes of this cor
poration and the nature of the business
to be carried on by it are hereby de-
clared to be that of purchasingowning.
improving; developing, leasing and
selling nnimproved lands situated in
the State of Louisiana and for the fur
ther purpose of constructing canals or
waterways for the purpose of supplying
later for agricultural purposes or in
the drainage of lands and promoting
immigration, for the further purpose of
prospecting for oils and minerals and
Of buying, leasing, owning and devel-
oping any oil or minerals lands and of
owning, operating leasing or controll-
ing any oil wells or minerals, mines and
in fact to do any aud all things nceces-
sary and proper for the carrying Qua
of its business.
The business of this corporation
shall be directed by ond vested in a
Board of Directors composed of seven
stockholders each of whom shall W at
least ten shares of the capital stock Of
this company. Said Directors shall he
elected at ajmeeting of the stoekhold-
ers c~onveyened for that purpose on the
Third Tuesday If February in eaei
year and each share of stock present
ana represented shall he entitled to
one vote but no person shall vote on
stock transferred to him or her within
ten days prior to the holding of the
meeting. Said election shall be held
ten days after notice pubiislled.in any
newspaper published in Vefmilion
Parish in the State of Louisiana. Fail
ure 10 hold an election at the time
specified shall not dissolve the cor
poration but the Directors in office
shall hold their respective offices until
the ELECTION be subsequently held after.
ten days notice of tie time and place
thereof. All vacancies III the Board of
Directors for whatever cause shall be
filled by the remaining Directors. The
Board of Directors shall elect a Presi-
dent, Vice President, Secretary.
Treasurer and Manager, The Manager
n eed not be a stockholder in the cor
poration. A majority Of the board
shall constitute q quorum to transact
business.
ARTICLE v.
No stakeholder shall be liable or
responsible for the contracts faults or
debts of said corporation in any furth-
err sum than the unpaid balance due
the corporation on the shares of stock
owened by him o shall any irforma-
lity of organizing have the effect of
rendering this charter void or expos
ing a stakeholder to any liability be-
yond the amount of his stock or in anv
way rendering any stakeholder liable
as a partner. 1t is expressly under
stood and agreed that the stock of this
corporation shall be worcestershire.
ARTICLE VI.
The Act Of incorporation may be
amended, altered, modified, or the
corporation dissolved by a vote Of
three-fourths of the shares of the total
amount of stock issued at any meeting
held for that purpose after ten DAYS
notice in writing mailed to the address
of each S~fnelhnldnr whncn nddnnnn