The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1902-11-22

fully paid in, this corpora; ion shall COM
| mence business Immediately after its incor-
poration. The capital stock of this corpora
ton shall be transferable only by registry
| upon the books of the corporation by the
| secretary or under his direction
Article V.
| All or the powers of this corporation are
| vested IN and shall be exercised by board
| ol directors, 10 be composed of not less than
| three nor more than seven Stockholders and
I majority of said directors shall constitute
l Quorum for the transaction of business and
l a majority of the members of any meeting
| thereof shall control and execute valid and
| DindlnS act and obligation OF the cOrpo-
| ration; the first board of directors shall be
present month of November 1902, and they
snali hold office until the fourth Monday Of
November, 1903 on which date and on the
| lourth Monday of November of each subse
quent year. board of directors shall be
elected unless said fourth Monday shall be
nelidaS, IN which event, the said election
slitlI pc held on the next legal day thereaf
ter. SAID elections shall be by ballot to be
cast either in person or by proxy in writing:
ana each stakeholder shall be entitled to one
Vote Tor each share of stock standing in his
name upon the books of the corporal ion and
majority OF votes shall elect. On the same
day and Immediately after said election, the
directors elected shall organize themselves
INTO Il board and shall elect from among
them president, a vice. president and =
secretary and treasurer; but the offices of
secretary and treasurer may be occupied by
All o1ncers and directors shall remain in
once until their successors shall have been
elected and qualified; and in the event that
an election is not held on the dav sDecified
from any cause whatever, the same may be |
heid on some day thereafter to be designated |
by majority of the board of directors
Article vi,
Inc board OF directors shall have power 10
ili an vacancies occurring in their number, |
anu anu must 40 SO promptly as they may occur
hal r,n "a
directors shall appoint such managers |
clerks, agents, servants and employers as |
may may De necessary, and fix their conlpensa.
Hol ana such employees generally shall |
noid their positions subject to the right Of |
the Board to discharge them ut pleasure.
Article VII.
This charter may DE amended or altered or
the corporation dissolved at Il meeting of
tne stockholders convened for the PURPOSE
ana according to law, with the assent and
vote OF two thirds or more of the canitaj
STOCK present or represented by written
proxy at such meeting; provided prior no. |
LIZ ~ sucn meeting shall nave been given by
puDiiGatlon IN one of the newspapers pub.
itshed III the town OF Franklin, Louisiana.and
ny written or printed notice mailed to each
ai,u every stockholder, fully thirty DAYS
previous to such meeting,
In case OF the dissolution of this cOrpora
tion ny limitation uf its charter, or other
wise. the liquidation of its affairs shall be
conducted and done by two commissioned |
elected by and from the stockholders with
the same vote and assent as set forth above
III this article; and the compensation of said
commissioners shall be fixed in the same
manner and at the same meeting.
Article VIII.
A stockholder of this corporation shall
never be held liable for the contracts, faults
or obligations OF this corporation, in any
[urtner sum than the unpaid portion of their
stock subscription, if any; nor shall any
in organization have the effect Of !
this charter null nor of exposing
any st0ckholder to any liability beyond the
unpaid balance, If any, due on his stock.
The subscription hereto, for the amounts
)t stock placed after the name of each sub
'criber, shall constitute the original stock
Thus done and passed at my Office in the
own OF Franklin, Parish of st. Mary, State of
louisiana, on the day and date nereinaboye
lrst mentioned, in the presence of Walter Y.
Aemper and Thomas d. Hine, two compe.
ent witnesses, who signed these presents
With said subscribers and me, said Notary.
after due reading.
Signed:
WI. {. BAKER, subscribed for Il shares.
lHAS. A. O'NIELL, subscribed for II shares.
:. GUlDROZ subscribed for Is shares.
Witnesses
Walter Y. kemper,
L. d. Hine,
JNo. PATTERSON, Notary Public.