The Lafayette gazette., 1902-05-03

ARTICLE III.
The capital stock of the said corporation
shall be twenty five thousand dollars divided
into and represented by two hundred and
fifty shares of the sum of one hundred dol
lars each, which sai! stock shall be paid in
subject t., the call of the Board of Directors
either at the time of subscription or the same
may he issued at not less than par, in pay
ment or exchange for property or right ac-
tually received Or purchased by said corpo-
ration, and for such other valuable consi-
derations services as the Board of Direc-
tors of said corporation may determine; pro-
vided, that no stock shall be issued until the
consideration therefor has been received by
the said corporation.
Any stakeholder may sell, assign or trans
fer his stock in this corporation, provided
thirty t3o) days prior notice Of such inten-
tion to sell, assign or transfer the same TO
he gwen the company, and the other stock
holders thereof shall have the first privilege
Of purchasing same, after which thirty days
the said stock may be sold in open market
The stock of said corporation may be
transferred under the above conditions,
provided such transfer thereof be made on
the books of said company, at its Office
-------' and on surrender of the
certificate therefor. No transfer of any
fractional part of share shall be made
This corporation shall commence doing
business as soon ten thousand dollars of
the capital stock shall have been subscribed
for.
The Board of Directors shall have the
right to determine how much stock shall be
issued.
ARTICLE ".
The corporate powers of this company
shall be vested in and exercised by board
of seven directors, consisting of the pres-
dent, vce-president aud five stockholders.
Four of said board shall constitute 4 quorum
for the transaction of business, and their
decisions shall be valid corporate acts.
The following persons shall constitute the
first Board of Directors: J. a. Roy, Crow
Girard, John Wilmington, r. G. Mou,on,
Louis Lacos:e, Alex. d. Nerrot and A. r..
Mouton.
No person shall be eligible director
All officer who is not stakeholder of this
company.
During the absence of the president the
vice president shall act and preside.
Said Beard shall continue in office until
the 18th day of March, 1903, on which date
and thereafter, annually, Board of Direc-
tors shall be elected on the 18th day OF
March IF each year unless the same should
he holiday, when the election shall be
held the next legal day thereafter.
Notice of such election shall be given by
at least thirty 1907 days publication imme,
diateIy preceding each election, in one OF
the weekly newspapers of this city; and the
Board Of Directors shall appoint one or more
stockholders TO preside at such election as
commissioners. In the event of the failure
of any commissioner or commissioners to at
| tend, the president shall by appointment,
fill the vacancy. Any failure ftom any
cause whatever to elect directors, the day
named for that purpose shall not dissolve
;he corporation, but the directors then in
office, we'll the officers of said company,
shall hold over until their successors are
chosen.
In such event the president shall cause
! another election to be held within thirty
| days, and shall give notice thereof as herein
! before provided.
| At every election and meeting each
stakeholder shall be entitled to vote for
each share of stock registered in his name,
| and may vote by proxy.
The election of directors shall be by
ballot, and the ajority in amount of votes
cast, each share of stock voted upon to be
counted for one vote, shall elect the person
or persons for whom they have been cast
After each election the Board of Direc-
tors shall elect from their own number :he
! officers Of said company.
ARTICLE V.
The Board of Directors shall have full
| power to fill vacancies in their number
caused by death, resignation or otherwise,
from among the stockholders of the corpo
ration.
The said Board shall have full control OF
the property of this company. and shall Sc
conduct, manage and the same as II
| their discretion they deem fit, and that is
consistent with the objects Of this company
or the welfare of the same.
The said Board is further authorized t'
frame and adopt such bylaws, rules ano
regulations as the affairs ana business OF tht
corporation may require, and it ma,
deem necessary for the conducting anc
management thereof; provided the sam,
shall not conflict with this charter, or will
the laws of the State, or of the Cnitee
States.
The said Board shall elect or appoint
! secretary and such other officers, agents
! employees, servants and clerks it ma,
deem necessary for the conducting OF tn
business OF the corporations; fin their com
| pensation term of service, with the rig hit t.
dismiss the M said Boards pleasure; AM
said Board shall have the right to fix AM
determine the salaries of the several officer
herein provided for.
ARTICLE VI.
This charter may be changed, modified! q
anne nd ed, the capital stock increased or de
creased, this corporation may be dis
E solved at general meeting of the stock
holders convened for the purpose, with tn
assent of three fourths of the entire capt.;
stock, whether present or represented
such meeting
Ten days prior notice of such mectin
shall be given in any weekly newspaper pull
lished in the city.
, In case of dissolution termination {
+ this corporation, either by Limitation of i
: charter or from any cause, the liqudatio
! of its affairs shall be conducted by thre
! commissioners, selected from the stool
. holders with like assent, and that NEE
4 ing called for that purpose, as above St
- forth in this article.
. Said commiss .oners shall remain in ottiC
until the affairs of said corporation sha
> have been fully liquidate In case of tt
death of one or more of said commissions