The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1902-12-27

gage such servants aud employees as its
business interests or convenience may re-
squire; and to make and establish. as well as
to alter and annui at pleasure such bylaws.
rules and regulations for the government of
the affairs OF said cooperation as may be- ne
cessary and proper.
kETICLE II.
The domicle of this corporation shall be
at Lake Providence, In the parish of East
Carroll. Louisiana. and all citations or
other legal service shall be served upon the
President OF said corporation. or in the
event ofhis absence, upon the Vice Presi-
dent thereof; and in the absence of both of
said officers, upon the secretary OF said cor
poratiOn.
ARTICLE
The objects and purposes for which this
corporation is established and the nature
Of the business to be carried on by it are
hereby declared and specified to be-to
construct. own. operate carry on. and lease
public hotel, to fully equip and furnish
same. and generally to hold and exercise
all such incidental powers and privileges
as relates to the conducting of said BUSH
ness, and the objects herein set forth.
ARTICLE Nv.
/ by fixed at fifty thousand (S50000) dollars,
TO be divided into and represented by five
hundred dollars each, and 20 per ceDtum Of
the stock shall be paid for at the time of
subscription thereof. and the remainder
thereof shall be paid at such time or times
| as may be designated by the board of di-
rectors, provided that not more than 20 per
cent Of such stock shall be assessed per
month; provided that stock of said corpora
tion may be issued at par in payment or
exchange for labor done. or money or
property actually received by said corpora
ton.
This corporation shall be Authorized to do
business AS soon as ten thousand dollars
in stock is subscribed and TWENTY-FIVE
hundred dollars actually paid in.
No transfer of fractional share of stock
shaltbe made; nor shall any transfer of
stock be made, except by transer thereof on
the books OF this corporation ut its office
and on surrender of the certificate thereof;
nor shall any sale. transfer or assignment
OF stock be made to any one not at tue time
u stockbolder of this corporation without
thirty days prior notice given TO said cor
poration of the intention 60 make such IA
sale, transfer or assignment. tie option be-
ing Reserved to The other stockholders
Jointly or severaily TO become within said
period the owner or owners of such stock.
ARTICLEv
All the corporate powers of this corpora
ton shall he vested in and exercised by a
board of directors to he composed of nine
stockholders. The board o directors shall
elect from their number apresident and a
vice president of this corporation; and shall
also select a secretary and atreasurer who
may be either directors or stockholders
The"members of said board to be elected by
the stockholders annually 90 the second
Monday in Janeary OF each. except the first
board of directors appointed in this chart +.
hall ali hair ff,aa /;
|'thcir'successors are elected and qualified.
Stockholders elections shall be by ballot.
and conducted at the Office of this corpora
ton. under the supervision of two stock
holders appointed as commissioners by the
board Of directors.
Not less than ten days pryor to an elect
ion, notice thereof, by writing and publica-
ton in newspaper in this parish, shall be
given TO each person appearing on the
books OF this corporation as stockholder
thereof.
Every stockholder shall be entitled to