The Lafayette gazette., 1902-04-05

1
| ARTICLE III.
The capital stock of the said corporation
| shall he twenty five thousand dollars divided
into aud represented by two hundred and
fifty shares Of tie sum of one hundred dol
lars each, which sail stock shall be paid in
| subject to the call of the Board of Directors
| either at the time of subscription the same
| may be issued at not less than par, in pay
| tually received purchased by said corpo-
| ration, and for such other valuable consi-
deratons or services as the Board of Drec-
| tors of said corporation may determine; pro.
| vided, that no stock shall be issued until the
consideration therefor has been received by
the said corporation.
Any stockholder may sell, assign trans
fer his stock in this corporation, provided
| thirty (3o) days prior notice of such inten-
| tion to sell, assign transfer the to
| be gwen the company, and the other stock
| holders thereof shall have the first privilege
OF pure hasing same, after which thirty days
the said stock may be sold in open market.
| The stock of said corporation may be
transferred under the above conditions,
provided such transfer thereof he made
| the books of said company, at its office
l-------' and on surrender of the
| certificate therefor. No transfer of any
fractional part of a share shall he made.
! This corporation shall commence doing
business soou 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
shall be vested in and exercised by a board
of seven directors, consisting of the pres-
dent, vice president ard five stockh oders.
Four of said board shall constitute a quorum
for the transaction of business, and their
decisions shall be valid corporate acts.
The following persons shall constitute the
frs, Board of Directors: J. \. Roy, Crow
Girard' John Whi,t'ngtpg F. g. Mou'on,
Louis laCOs'e, Alex. D.~Verrot and A. f..
Mouton.
No person shall be eligible as director or
officer who is not stockholder of this
company.
During the absence of the president the
vice president shall act and preside.
Said Board shall continue in office until
the I5th day of March. 1908. on which date
and thereafter, annually, Board of Direc-
tors shall be elected the 18th day of
March of each wear unless the should
he holiday, when the election shall be
held on the next legal day thereafter.
Notice of such election shall be given by
at least thirty (3o) days publication imme-
diateIy preceding each election, in of
the weekly newspapers of this city; and the
Board of Directors shall appoint one or 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 well as the officers of said company,
shall hold over until their successors are
chosen.
In such event the president shall cause
another election to be held within thirty
days, and shall give notice thereof as herein
before provided.
At every election and meeting each
stockholder shall be entitled vote for
each share of stock registered in his name,
and may vote by proxy.
The election of directors shall he 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 own number :he
officers of said company.
ARTICLE v.
The Board of Directors shall have full
power to fill vacancies in their number
caused by death, resignation or otherwise,
from among the stockholders of the corpo-
ration.
The said Board shall have full control of
the property of this company. and shall SO
conduct, manage and use the in
their discretion they deem fit, and that is
consistent with the objects of this company,
or 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
|
deem necessary for 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 a
secretary and such other officers, agents,
employees, servants and clerks it may
deem necessary for the conducting OF the
business OF the corporation: fix their com
pensation. term of service, with the right TO
dismiss the at said Boards pleasures; and
said Board shall have the right 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 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
shall be given in any weekly newspa per pub
| lished in the city.
In case of dissolution termination of
| this corporation, either by limitation of its
charter from any cause, the liquid alton
of its affairs shall be conducted by three
commissioners, selected from the stock
! holders with like assent, and that meet
ing called for that purpose, above set
forth in this article.
Said commiss .oners shall remain in office
until the affairs of said corporation shall
T. r,,11, ~.