The Meridional. (Abbeville, La.) 1856-1906, 1901-01-26
ARTICLE FIFTH.

All the corporate powers . this cor
poration shall be vested in ava De eX-
ercised bv a board of nine directors,
each of whom shall hold in his OWE
name or in the name of a partnership
whereof he is a member at least one
share of stock, to be elected annually
on the first Monday OF May OF eacn
years; the first election to betheld l9OZ.
All such elections shall be by ballot
at the Office of the corporation under
the supervision of three commissioners
to be appointed by the board of direct
ors and in the absence of any OF said
commissioners, the president shall have
power to fill the place by appointments.
Notice of each election shall be given
to the stockholders by the secretary by
mail at least ten days prior to the date
of such election, and the directors
. elected shall serve and continue IN Of
flee until their successors shall have
been elected and qualified.
Five directors shall constitute a
quorum for the transaction of any busi-
Ress, At any meeting of the board OF
directors, n director absent from the
town may be represented by any other
director, who may cast the vote of said
absent director according to the writ
ten instructions of said absent director.
The Board OF directors shall have the
power by three-fourths vote of all the
directors to sell, lease, mortgage or
pledge any and all the property, 0
; able and immovable, belonging to the
corporation without referring to the
shareholders for the power to do so,and
they may also purchase for cash or on
! credit, property of any kind required
for any of the purposes Of the corpora
ton without authority of the share
holders.
All contracts, checks and notes of
the company shall be signed by the
presidents; OF, in his absence or inability
to act, by the Vice-president; also by
the secretary and treasurer, and in case
of the absence or inability of the secre-
tary and treasurer to act, by some per-
son designated in his place by the board
of directors.
The board of directors shall have full
authority to employ, appoint or dismiss
such managers, superintendents agents
and employees as they may deem best,
and to vest in them such powers as
they see fit and fix their remuneration,
The board of directors at first meet
ing after election shall elect from their
number a president and vice president
and shall elect a secretary and treas
ure1, who need not be a stookhOlder in
the corporation.
The board Of directors shall have the
power to make and establish, as we'll
as amend and alter, all bylaws, rules
and regulations deemed requisite for
the support and the management of
the affairs and business of the corpora
ton; to make and issue bonds. notes
and other obligations; to issue and de-
liver bonds or obligations thereof; for
property transferred to and received by
the corporation; and to do all such acts
and things as may be necessary to car
ry out the objects and purposes for
which this corporation is organized.
Until the next general meeting to be
held under this charter, VIZ: On
the first Monday of May 1902, the board
of directors shall e composed of Eli
:. Wise, Gus Godchaux, !. O. Broussard,
l.. Sokoloski, A. Kaplan, Jos. Blum,
d. NJ. Lichtenstein,S w. ~Lichtenstein,
Henry Kaplan, with Eli Wise as presi-
!, dent, and Gus Godchaux vice-president,
The secretary and treasurer, and all
!. officers are to be elected by the board
y directors:
: In case of any vacancy either in the
, above named board of directors or in
! any other, the remaining members
: shall have the power to fill vacancies
and all directors and officers of this
corporation shall remain in Office until
their successors are elected and quail
: fed.
! Failure to hold the annual meeting
u shall not dissolve the corporation, out
: the meeting shall be held as soon as
: possible after the regular date.
ARTICLE SIXTH.
It! Whenever this corporation may be
y dissolved, whether by limitation, Of
t, from any other cause, its affairs shall
d be liuuidated by three commissioners
to be appointed from among the stock
y holders at a general meeting of TIN
Ie stockholders convened for such pur
l. poses, of which meeting thirty day
II previous notice shall be given by adver
ID tisement in II of the newspapers pub
ii lished in the town of Abbeville, La.
le and in one OF newspapers published j
New Orleans and the vote of the own
10 ers of a majority Of the shares, shall b
required to elect. Such commissioner
shall remain in office until the affairs {
IN the corporation shall have been full
liquidated. and in case Of the death {
in one or more of said commissioners, th
t. survivors or survivor shall continue [