The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1902-07-12


mon and preferred stock.
The stock Of the corporation common or
preferred, is hereby dec AIRED to be non-as.
sessable ami it shall not be in the power of
the corporation at any time to adopt any by
law or amendment whereby any OF the said
stock shall be made assessable without the
unanimous consent in writing OF each share
holders of the corporation.
The board of directors can at any time re-
tire such amounts of the preferred stock or
the corporation as it may deem best, by
sending a written notice 80 days in advance
to any StOckhOlder or stockholders, whose
stock it may desire to retire, and paying TO
him to them the book value OF the stock,
provided that in any year before any pre-
ferred stock can be retired, 1t must also be
paid its preferential dividend of ten per cent.
before being retired at it's book value.
All preferred stock thus retired shall be
listed on the books of the corporation as
common stock and shall be subject to re is
sue as common stock at its full book value
by the board of directors.
All I'M issued stock, common or preferred,
or retired preferred, shall be placed to the
account of the treasurer of the corporation,
to be known as treasury stock. held for ISSUE
and such stock shall be entitled to no accru-
ing profits or dividends, while they are IN
this condition.
No stock, common or preferred, shall be
issued except for cash or its bona tide eQui-
valent in material or labor.
Transfers of stock will not be recognized
until notice of the same has been given to
this corporation by the owner his duly
made on the books of the corporation.
All transfers of preferred stock shall be
made and accepted subject to the right OF
the board of directors to retire the same at
any time on demand.
ARTICLE V.
All the corporate powers of this corpora
ton shall be vested i'll and exercised by a
board of nine directors, stockholders of the
corporation, elected by ballot annually on
the 4th Tuesday OfJanuary OF each year at a
meeting of the stockholders.
said board shall have the power to fill all
vacancies in its body, occurring during the
year, and its members shall hold office until
the successors shall have been elected and
qualified:
president. a vice president, Il secretary, and
a treasurer, who shall be stockholders and
directors of the corporation. =
The first board of directors shall be COM
posed of the following stockholders Henry
Hausmann, president; j. L. Muggah, vice
president; Sam K. Guyther, secretary and Il.
Lee Riggs, treasurer, and Messrs. Wilbur Ii.
kramer, r. b. Gooch, Willie Callen n Il.
Trclluc, and }. S. Perkins.
ARTICLE VI
This charter may be amended, or its CAPT
tai stock increased or decreased CIR the cor
pOratiOn may be dissolved at meeting of
the stockholders called for such specific pur
pose, each stakeholder having been given
written notice through the mail ten days
prior thereto of the date and purpose of such
meeting; providing three fourths of the
stock present or represented vote aflirma-
lively thereto.
Al all meetings of stockholders held for
any purpose, each stakeholder can cast one
vote for each share held by him, whether
common or preferred, in person or through
an agent by written Er PROXY; W,
When for any reason this corporation may
| be dissolved, three commissioners, elected
| by the stockholders, shall take charge of its
| main in Office until the final liquidation of
| the corporation, and any vacancies occur
ring in their body shall be filled by the re
manning commissioners.
! No stakeholder Of this corporation
| shall be ever held liable for any of the
| debts, contracts, and faults of the cOrpor-
| alton in any further sum than the unpaid
balance due to the corporation on the
shares owned by him; nor shall any in
| formality in organization have the effect
| of rendering this charter null and void
or exposing stakeholder to any liabil-
| ity further than the unpaid balance due
| upon his stock,
Thus done and passed at Patterson,
| st. Mary parish, Louisiana, on the day
| month and year first above written and
in the presence of B. j. Morcy and NJ
E. Norman, two competent witnesses,
who have signed these presents with said
appearers and me, Notary, after due
reading of the whole.
Original signed)
WILLIE n. CALLEN,
WILBUR H. KRAMER,
N. b. TRELLUE,
SAM r. GUYTHER,
JAS. p. MUGGAH,
r. LEE RIGGS,
HENRY HAUSMANN,
T. B. GOOCH.
J. S. PERKINS,
WIN. FOLSE.
w;,no.sos B. J. MoKEy,
NJ. f. NORMAN.
ION ROCHEL, Notary Public.