The Lafayette gazette., 1902-04-26

| The capital stock of the said corporation
shall I've twenty-five thousand dollars divided
into and represented by two hundred and
fifty shares of the sum of one hundred dol
| lars each, which san. stock shall be paid il,
subject to- the call of the Board of Directors
either At the time of subscription the same
may he issued at not less than par, in pay.
ment or exchange for property or right ac'
| tually received Oh purchased 10y said corpo-
| ration, and for such other valuable consi-
deration, or services as the Board of Dircc-
tors of said corporation may deter mine; pro
| vided, Nat no stock shall be issued until thu.
consideration therefor has been received by
| the said corporation.
Any stockhoider may SELL assign trans
| fer his stock in this corporation, provided
! thirty (So) days prior notice of such inten-
| ton to sell, assign transfer the same to
he gwen the company, and the other stock
holders thereof shall have the first privilege
| of purchasing same, after which thirty days
| the said stock may he sold in open market
| The stock of said corporation may be
| transferred under the above conditions,
| provided such transfer thereof he made on
the books of said company, at its office
I-------' and on surrender of the
fractional part of Il share shall be made.
This corporation shall commence doing
business soon as ten thousand dollars of
| the capital stock shall have been subscribed
for.
The Board of Directors shall have the
right to determine how much stock shall be
issued.
ARTICLE ".
The corporate powers OF this company
sha II he vested in and exercised by board
of seven directors, consisting of the presi-
dent, vice president and five Stockholders.
Four of said board shall constitute Il quorum
for the transaction of business, and their
decisions shall be valid corporate acts.
The following persons shall constitute the
first Board Of Directors: J. \. Roy, Crow
Girarl. John Wilmington. +. G. Mou'on,
Louis l.acos:r, Alex. ID. Verrot and a. f..
MoutOn.
No person shall be eligible as director or
All officer who is not stakeholder of this
company.
During the absence of the presiden, the
vice president shall act and preside.
Said Beard shall continue in office until
the 18th day of March, 1908, on which date
and thereafter, annually, Board of Direc
tors shall be elected on the 18th day of
March of each year unless the same should
lie holiday, when the election shall be
held the next legal day thereafter.
Notice of such election shall! be given by
at least thirty (3o) days publication imme-
dateIy preceding each election, in one of
the weekly newspapers of this city: and the
Board of Directors shall appoint one more
stockholders to preside at such election as
commissioners. In the event of the failure
of any commissioner or commissioners to at
tend, the president shall by appointment.
fill the vacancy. Any failure f,om any
cause whatever TO elect directors, the day
named for that purpose shall not dissolve
The corporation, but the directors then in
Office, as we'll the officers of said company,
shall hold over until their successors are
chosen.
In such event the president shall cause
another election to he held within thirty
days, and shall give notice thereof as herein
before provided.
At every election and meeting each
stakeholder shall be entitled to vote for
each share Of stock registered in his name,
and NAV by DrONN,
The election of directors shall be by
ballot, and the majority in amount of votes
cast, each share of stock voted upon to be
counted for one vote, shall elect the person
or persons for whom they have been cast.
After each election the Board of Direc-
tors shall elect from their number The
officers of said company.
ARTICLE Y.
The Board of Directors shall have full
power to fill vacancies in their number
caused by death, resignation otherwise,
from among the stockholders of the corpo-
ration.
The said Board shall have full control of
the property of this company. and shall
conduct, manage and the same in
their discretion they deem fit, and that is
consistent with the objects of this company.
the welfare of the same.
The said Board is further authorized to
frame and adopt such bylaws, rules and
regulations as the affairs and business of the
corporation may require, and as it may
deem necessary TOR the conducting and
management thereof: provided the same
shall not conflict with this charter, with
the laws of the State, of the United
States.
The said Board shall elect or appoint 4
secretary and such other officers, agents,
employees, servants and clerks it may
deem necessary for the conducting OF the
business OF the corporations; tiN their com
pensation. term of service, with the right 10
dismiss the III at said Boards pleasures: and
said Board shall have the right to fix and |
determine the salaries of the several officers
herein provided for.
ARTICLE VI.
This charter may be changed, modified or
amended, the capital stock increased de
creased, this corporation may be dis
solved at general meeting of the stock
holders convened for the purpose, with the
assent of three fourths OF the entire capital
stock, whether present represented at
such meeting.
Ten days prior notice of such meeting
lished in the city.
this corporation, either by limitation of its
of it's affairs shall be conducted by three
holders with like assent, and that meet
ing called for that purpose, as above set
forth in this article.
until the affairs of said corporation shall
have been fully liquidated. In of the
death of one or more of said commissioners