The Jennings daily record., 1902-09-13

- r
ration is established, and the nature
of the business to be carried on byiit,
or any one, or more, or all OF the fol-
lowing:
To construct, work and maintain
canals, plank roads, bridges
and ferries, whether within or without
the limits of this state; to effect fire,
marin, river and. life Insurance.; to
and maintain dry docks or
floating docks for the building or re-
pairing of ships and other vessels; to
the sea and any or all OF the
water ways of the United States by
steam: to create, establish, maintain
and operate lines of telegraph, and to
construct and maintain docks, steam
ships and other vehicles for the trans
portation of freight and passengers;
and to acquire and purchase the re-
sources and liabilities and business OF
the HEY WOOD BROS. TRANSPOR.
TATION COMPANY an ordinary
partnership dOmiciled at Jennings,
La. said partnership having the same
purposes and the nature of it's bust.
ness being the same as this corpo-
ration.
ARTICLE III.
The capital stock this corpora.
ton is fixed at ONE HUNDRED
THOU SAND 900, 900. .OO) DOLLARS,
divided into one hundred thousand
shares, of the par value OF one dollar
each. All stocks subscribed shall be
paid for at the time of subscription;
provided that the equivalent of cash
in property or rights may be given
and received in payment for stock
subscribed at the option of the stock
holders. The issuance OF CERTIFICATES
of stock shall be evidence that the
stock covered thereby has been fully
paid and is nonassessible.
ARTICLE ".
All the powers of the corporation
shall be vested in and exercised by
q boardi of directors composed OF
i've stockholders to be selected by a
majority of the shareholders on the
third Monday in June Of each year,
commencing with the year 1908. I'm
til the first election for directors here
under to be held, the board of direct
ors shall he composed of Dewey Hey
wood, O.; w. Haywood, w. Scott Hey
wood, Alba Haywood ard w. N.
Stenger. =,
The officers Of this corporation shall
consist of q President, a Vice-Presl-
dent. q secretary and a treasurer, each
of whom shall be stockholder; pro-
vided, that at the option of the share
holders the offices of Secretary and
Treasurer may be held by the same
person.
The general or stated meetings OF
| shareholders shall be held on the
third Monday of June OF each year,
commencing with the year 1908. Spec
| ial meetings of the said share holders
shall be held at any time upon the call
| of the President or any three stock
holders, said stockholders to apply to
! he Secretary in writing, who shall
give said stockholders lO days notlce
Of such called meeting. AT all such
meetings and at all elections by share
holders, each stockholder shall be en-
titled to cast in person or by proxy,
| one vote for each share of stock held
Inv him. All elections by shareholders
shall be by ballot under the supervi-
sion of two commissioners who shall
he appointed for that purpose by the
board of directors, and who shall re-
ceive all votes cast and shall canvass
and declare the result of such election.
After each annual election, the board
of directors shall elect the officers
therein provided for, and may at any
ltime. choose, employ and dismiss such
other agents and employees as may
he necessary for the transaction OF
1.-The business of the corporation. Un'
It'll the first election to be held in 1908!
1.-The officers of said corporation shall
by Alba Haywood, President; Dewey
IHeywoOd. Vice.President; W. d.
Stenger, Secretary, and O. w. Hey
jwoOd, treasurer.
II shall be competent for the stock
holders to appoint an executive com
mittee consisting of notless than three
stockholders and confer on said com.
mittee such powers as may be deemed
proper and expedient. At stockhold.
ers meeting q quorum shall consist OF
the persons owning majority OF the
shares.
ARTICLE v.
This corporation shall have power
and authority to hold, receive, pur.
chase and to- convey, and to hire, lease
and lot, property both real and per-
sonal.
Whenever this corporation is dis.
solved. either by the limitation of time
ar by the determination of the stock
Iholders, its affairs shall be iquidate
by three commissioners to be ad
pointed for that purpose at a meetip
of the stockholders. In case of ns
death or ina bility to act, of oneth'
more of the Hquidators, the other OF
others shall act alone.
ARTICLE VI1.
i No stockholder shall ever be helt
|l;able or responsible for the contract
or faults of this corporation in an.
further sum than the unpaid balanc
due the company on the shares owne'
|, atty in organization have the effec
of rendering this charter null or of eS
posing any stockholder to liabilit
heyond the amount of his stock.
ARTICLE VIII.
Ofthe capital stock of this corpors
tion each of the subscribers heret
q suhscribe for the number of share