The weekly Thibodaux sentinel. [volume] (Thibodaux, La.) 1898-1905, 1902-03-29

Said Directors shall hold office until
the election to be held on lst, Tuesday
In April 1903, and until their successors
are elected and qualified.
A general meeting of the stockholders
OF this company shall be held annually
on the First Tuesday Of April, at which
meeting an election for Directors shall
be held; ten days notice of said meeting
shall be given by the Secretary in one
OF the newspapers published at the do
mlclle OF the corporation.
All elections shall be by ballot, under
the superintendent of Inspectors ap-
pointed by the Board of Directors from
among such OF the stockholders as are
not Directors.
No person shall be eligible as Director
who does not own in his own name at
least one share of the capital stock Of
the corporation.
A failure, from any cause to elect Di-
rectors on the day named for the pur-
pose shall not dissolve this company,
but the Directors then in office shall
mold over until another election is held /;
due notice shall forthwith he given as
above provided, and such notices of cleo
non shall continue until an election is
held.
"A plurality of votes counting one vote
for each share of stock voted upon shall
be sufficient to elect Directors, who
shall, at their first meeting held there
after, or such other day as they NAV
eject after the day Of election, choose
one OF their number for President, who
shall be elected by majority of the
whole Board. The President shall pre-
side at all meetings of the Board and
perform such other duties as NAV be
imposed upon him by this charter or by
the Board of Directors.
The Vice Presidents shall act in the
n lpa nFt l,nD Il. T.
absence or inability of the President to
act.
A majority of the Board of Directors
snail be necessary to form a quorum for
the transaction of corporate business.
ana said Board, or a quorum thereof
shall have full power, and are hereby
authorized to buy such real and person.
al property as may be required for the
use OF the corporation, and to sell the
same when they may deem it advisable
to do so, and shall have power to buy
and sell, lease, mortgage and hypothe-
cate any and all lines of the railway
property or franchises, rights of way,
privileges, ETC., belonging to this corpo-
ration, or which may hereafter be ac-
quired by it.
Said Board may also delegate such
powers III the transaction of business of
this corporation to committees of their
own body, to their officers or agents, as
they may deem expedient, and may al
so appoint agents within and without
the State, under such conditions, as to
them shall be deemed proper, and they
shall have power to make bylaws, rules
and regulations, and to amend or alter
the same, whenever the interests of the
company may require it, and also, shall
nave power to fill any vacancies that
may occur in their Board; such vacan-
cies may be declared OH account of death,
resignation, want of the requisite num-
Der OF shares, or absence without leave
for three regular meetings.
Minutes of all the proceedings of the
Board of Directors shall be kept by the
Secretary in q book for this special pur-
pose.
The Treasurer shall have the custody
oI al the funds 3f the. En- ccosp4qEAtiQn, and
The same shall be countersigned by the
President or by n Vice President.
Each shareholder, at each meeting for
the election of Directors, or other pur-
poses, shall be entitled to one vote for
each share of stock held by him, and
shall be entitled to vote either directly,
Or by proxy.
ARTICLE vi.
The General Manager shall appoint
all the employees Of this company relat-
ing to his department., except as herein
provided, and may remove
said employees at pleasure, and shall "A
their salaries, and the amount Of securi-
ty that shall be required from any of
said employees, or agents, subject to the
approval Of the Board of Directors.
ARTICLE VII.
Dividends shall be declared semi-an-
nually in January and July, provided
the receipts Of the company warrant
the Board of Directors in declaring the
same. Any dividend not called for
within three years from the dato of its
being payable, shall revert to the com
pany. After providing out of the earn
ings Of each year for all the operating
and fixed charges, the Board Of Dircc-
tors shall declare such dividends rs
they may elect, and any earnings over
and above the dividends thus declared
shall be retained in the treasury, to he
used for such purposes as the Board of
Directors may determine. This fund,
as it accumulates, may be invested by
the Board of Directors in securities,
such as, Federal, State or municipal
bonds, or bonds of this company.
ARTICLE VIII.
These articles of association NAV be
altered or amended, or the
dissolved, and the capital
stock may be Increased, or decreased, in
the manner provided by law, ut q gene
raj meeting convened for that purposes
after previous notice published in one
once a week, for four cOnse-
cutive weeks, setting forth the purposes
for which said meeting is called.
ARTICLE
The liquidation of the affairs Of this
shall be made by three COM
to be appointed by the stock
holders at the meeting at which liquida-
ton is voted; said liquidators shall be
solvent persons, residents of the State
Of Louisiana, and not indebted to this
company. All necessary powers shall
be conferred upon them. The period for
and the compensation for
the commissioners shall be fixed in such
solution at said general meeting deter
mine.
ARTICLE X.
No stakeholder shall ever be held liza
BILE or responsible for the contracts of
said corporation, for any further sum
than the unpaid balance due on the
shares of stock subscribed for, or owned
by him, nor shall any mere infOrmality
i'm organization have the effect of ren-
dering this charter null, or of. exposing
n stakeholder to any liability beyond
the amount of his subscription to its
stock.
THUS DONE AND PASSED, at my
office, in the city of New,Orleans, Louis
lana, the day, month and year first
above written, i'm the presence of Mes
srs. HARRY WATCUAM and JOHN
X. BIAkELY, residents of the SAID
City of New Orleans, good and compe
tent witnesses, who have signed these
presents, with the appcarers and me,
after due reading. =.