The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1901-08-03

knatufc OF the business TO be carried Oh
1by it, are hereby declared to be as fol
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
J tain canals on lands. whether owned 10y
this corporation or any other person; tC
dreGge or improve harbors, channels
and water ways of all kinds, whether navi'
gable or not, and whether owned or con.
trolled by this corporation or any Other
person, the State or national govern.
ments, to own, buy. sell, lease, build, re-
pair or operate dredge boats, tow boats
or any other kind of boats or water craft
and all the appurtenances and necessaries
thereof or i'll any way connected there
with, and 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-
| ceive, purchase, convey, sell, mortgage,
hypothecate, pledge, lease and suitcase,
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 a cor
porate seal, the same to- alter and break
| at pleasure; name and appoint such man
ayers, directors, officers, clerks and
agents as the interest and convenience of
said corporation may require, make and
establish such by-laws, rules and regula>
tons for the proper management and
regulation of the affairs Of said cOrpora>
ton, as may be necessary, and the same
10 alter and change at pleasure, and shall
possess all the rights powers and privi~
leges 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 or
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 (s25 OO0), represented
by Two Hundred and Fifty shares ESQ
of One Hundred Dollars (Sl00) each
All stock subscribed for shall be payable
in cash at the time the certificate there
fore is issued, or 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 (15) 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 Gave 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 propor-
ton to the number Of shares of stock |
held by them, and which additional
shares shall be paid for at each time ana
in such amount and manner as the Board
Of Directors may direct. After the ey
piration of said time the Board of Di,
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 on
he books of lie corporation and shall be
signed by the stockholders or by his
attorney.
At all elections by OF meetings of the
stockholders, each share of stock shall
)e entitled to one vote to be cast either
~ the person in whose name the stock
lp3ears on the books of this corporation
It the time of the voting or by his agent
II proxy duly authorized in writing to
hat effect
ARTICLE vi
The business and affairs and corporate
lowers Of this corporation shall be cons
ucted by Board Of three Directors. to
&C composed of stockholders thereof and .
hey and each of them shall be elected
y ma ority Of all the votes cast at a
leeting to be held for that purpose.
'heodore A. Thorgeson, Francis Martin.
nd +. William Drei5lOlz, with the said
'horgeson as President. said Martin as
'ice-President and said Driebholz, as =
shall constitute the I
rst Board of Directors and they shall c
Old office until the second Saturday in Il
anuary, 1908, or until their successors 5
re elected and qualified; each suisse L
uent Board shall take their seats immc- II
lately following their election, or as !
ION thereafter as practicable, and shall r.
Old their offices until their successors G.
lall have been elected and qualified. s
On the second Saturday of January, J
)O3, and annually thereafter, an cleo u
Oh for Directors by the stockholders y :,
TALL be held at the office Of the com !,
my, after ten days notice thereof shall h
we been given by printed or written d
'tice mailed to each stakeholder at the CT
81 address given by him to the Secre- X
ry-Treasurer. Every Board of Directors 81 81
lal. at its first meeting after its election ~ -
as soon thereafter as possible, elect ia
ON their own number a President, a ST
esident and Secretary Treasurer tn
failure to elect Directors on the date of
owe specified shall not dissolve the or
rporation but the then existing Board t trs
Directors shall continue to hold their on
ices and another election shall be held hi
soon thereafter as practical at time at
be fixed by the Board Of Dire ctors al
en- in office, whereof five days prior at
tlce shall be given in the manner ae
owe provided. 'ie
Any vacancy occurring in said Board :
directors from any cause shall be sh
ed by the remaining Directors, A Go
Jority of said Board OF Directors shall sal
1stltute a quorum for the transaction 1oi
management of all business of said ~
'poration. They shall make such by. s sin
IS, rules and regulations as they may SUI
nix proper for the transaction of the the