The Lafayette gazette., 1902-05-10

1
| The capital stock of the said corporation
| shall he 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 be issued at not less than par, in pay.
| ment or exchange for property or right ac'
tually received Oh purchased by said corpo,
| ration, and for such other valuable consi-
| derations or services as the Board of Direc-
tors of said corporation may determine; pro-
| vided, that no stock shall be issued until the
consider alton therefor has been received by
the said corporation.
Any stakeholder may sell, assign trans
fer his stock in this corporation, provided
| thirty (3o) days prior notice Of such inten-
| ton to sell, assign or transfer the same TO
be 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, its office
-------' and on surrender of the
certificate therefor. No transfer of any
fractional part of a share shall be made.
This corporation shall commence doing
business 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 he
issued.
ARTICLE ".
The corporate powers of thus company
shall he vested in and exercised by board
of seven directors, consisting of the presi-
dent, vice-president and five stockholders.
Four of said board shall constitute i 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
I.,I
Louis Lacos,e, Alex. ID. Verrot and A. f.
MOutOn.
No person shall be eligible as director or
officer who is not d stakeholder of this
company.
During the absence of the president the
vice president shall act and preside.
Said Board shall continue in Office until
the 18th day of March. 1903, on which date
tors shall be elected on the 18th day of
March of each year unless the should
lie holiday, when the election shall be
held on the next legal day thereafter.
Notice of such election shall be given by
at least thirty (3o) days publication imme
diately 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
commissioners. In the event of the failure
of any commissioner commissioners to at
tend, the president shall by appointment,
fill the vacancy. Any failure f,om any
cause whatever to elect directors, the day
named for that purpose shall not dissolve
the corporation, but the directors then in
Office, we'll as the officers of said company,
shall hold over until their successors
chosen.
In such event the president shall Cause
another election to be held within thirty
days, and shall give notice thereof as herein
before provide ed.
At every election and meeting each
stockholder shall be entitled to vote for
cHor Of fSfo red
and may vote by proxy.
The election of directors shall be by
ballot, and the majority in amount of votes
cast, each share of stock voted upon to be
counted for one vote, shall elect the person
persons for whom they have been cast.
After each election the Board of Direc-
tors shall elect from their 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 otherwise,
from among the stockholders Of the Corpo-
ration.
The said Board shall have full control of
conduct, manage and the same in
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 to
frame and adopt such bylaws, rules and
regulations the affairs and business of the
corporation may require, and it may
deem necessary for the conducting and
management thereof; provided the same
shall not conflict with this charter, with
the laws of the State, or of the United
States.
The said Board shall elect or appoint a
secretary and such other officers, agents,
employees, servants and clerks it may
deem necessary for the conducting OF the
business OF the corporations; fix their com
pensation. term of service, with the right TO
dismiss the em at said Boards pleasure; and
said Board shall have the right to fix and
determine the salaries of the several officers
herein provided for.
ARTICLE
This charter may be changed, modified or
amended, the capital stock increased 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 capital
stock, whether present represented at
such meeting.
Ten days prior notice of such meeting
shall be given in any weekly newspaper pub
lished in the city.
In case of dissolution termination of
this corporation, either by Limitation of its
of its affairs shall be conducted by three
commissioners, selected from the stock
holders with like assent, and that meet
ing called for that purpose, above set
forth in this article.
Said commiss .oners shall remain in office
until the affairs of said corporation shall
have been fully liqudated. In of the
death of one or of said commissioners
the survivors survivor shall continue to