The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1903-07-11
port mineral oils for hire by means of pipe

! nine lines, railroads. tramways pumping
stations, storage tanks, tank cars, barges
| vessels, wharves, warehouses, ana generally
| to hold and exercise all incidental power:
| and privileges as relate to the objects anC
/ purposes herein set forth. The corporation
| shall also have power to sell, mortgage, n.y.
| pothecate and bond any ot II property, b,
| it real, personal or miNcd
| ARTICLE ".
| The capital stock of the corporation +
| hereby fixed al the sum OF FIVE HUNDRED
| THOUSAND DOLLARS to be divided into
and represented by FIVE HUNDRED
| THOUSAND shares of stock OF the face value
| of S10o each, which said stock shall be paid
| for in cash at such times and III such
| amounts and after such notice TO the sub.
| scribers as may be fixed by the Board OF
| Directors and the same may be PAID for in
real or personal property, notes, bonds
mortgages or any other property which the
Board OF Directors may approve 1t Is eX
| p1essIy understood and agreed however
| that at least Twenty five esq per cent Of the
| capital stock shall be held AS Treasury Stock
which said stock shall be disposed OF by the
Board of Directors at such times for cash,
and in such manner ana upon such notice
and tor such prices AS sad Board snail deem
best and the proceeds thereof shall be used
for the purpose OF defrayinS the expenses of
the corporation for any corporate purpose
whatsoever. All stock of this corporation
shall be full paid and non assessable, This
corporate on shall be authorized to exercise
all corporate powers when $l5.000.0o is sub :
Scrbcd.
ARTICLE
All the powers OF said corporation shall be
vested i'll and exercised by the Board of Di-
rcctOrs to be composed of NINE go Stock
holders to be elected annually on the first
Monday in July in each year, and the first
Board of Directors appointed in this charter
shall hold their offices until the first Monday
in July 1894. All such elections shall be by
ballot and conducted ut the office of said
corporation under the supervision OF three
commissioners to be appointed by the Board
of Directors. Notice OF such election shall
I,t-N ffsn nj Its,If IN
member by the secretary not more than
fourteen nor less than ten days prior to such
election i'll one or more newspapers publish
cd in the City OF Franklin, in the state OF
Louisiana.
Every stakeholder shall be entitled to one
vote for each share of stock standing in his
name on the books OF the company, to be
cast i'll person or by proxy, and Il majority
Of the votes cast snail elect. Any vacancy
occurring among the Directors by death,
resignation or otherwise shall be filled for
the remainder of the term of the Board by
the remaining directors. a failure to elect
directors on the date specified shalt not
dissolve the corporation, but the directors
then in once shall remain III ONCE until
their successors are elected and qualified.
The first Board of Directors named in this
Charter shall Immediately upon the orSani-
cation of this company, and the Board of
Directors thereafter elected, shall eject from
their own number IL President and shall also
elect Secretary and Treasurer who may
may not be ii member of the Board. The
Board of Directors shall have the power
either to combine or separate the offices OF
the Secretary and the Treasurer.
Said Board of Directors may appoint from
time to time, such officers, clerks agents
and other employees as they may deem
necessary for the purposes and business of
said cOrpOrptiOu and who shall hold office at
the pleasure Of the Board.
The Board may make and establish, as
well as alter and amend, any and all by
laws, rules and regulations necessary and
proper for the support and management of
h.a Inns MI ht t.li a
ton. said Board shall have the power and
authority to borrow money, execute Eort.
cages and create liens, issue notes or other
obligations, and generally to DO all things
reasonable or necessary tor the proper car
ryng on of the business of said corporation,
and also to issue and deliver full paid shares
done or property actually received by
the said corporation. Each director
shall have authority to appoint in writ
ing proxy to represent him at all
meetings of the Board.
ARTICLE VI.
Whenever this corporation may be
dissolved. either by limitation or from
any other cause, its affairs shall be
liquidated by three commissioners to be
appointed from amongst the stock
holders at general meeting of stock
holders convened for such purpose of
which meeting notice shall be given in
the manner and time provided for by
Article VII, of this Charter aud a ma or.
ity in amount of the capital stock of said
company represented at such meeting
shall be requisite to elect. Said COM
missioners shall remain in Office until
the affairs of the said corporation shall
have been fully liquidated In case of
I., Il l.. of, ,Nf
missioners the vacancy shall be filled by
election of the surviving commissioners.
ARTICLE VII.
This Act of Incorporation may be
modified, changed or altered, or said
corporation may be dissolved with the
assent of three-fourths of the capital
stock represented at a general meeting
of the stockholders convened for the
purpose and after notice shall have been
given in one or more newspapers pub
lished in the City of Franklin, in the
State OF Louisiana, once week for four
weeks preceding the meeting and by
written notice to each stakeholder
mailed to him thirty days prior to the
date of the meeting, at the post Office
address designated by him in writing.
hhf Sh"uSSo PiopOSSu VI Ah"uO III ASlSA-
ence to the capital stock shall be made
in accordance with the laws of the State
of Louisiana Gu the subject of altering
the Capital Stock of this Corporation.
ARTICLE VIII.
No stakeholder shall ever be held
liable for the contracts VI fanlts of said
in any other sum than the
unpaid balance due the corporation on
the shares of stock owned by him, nor
shall any informality in organization
have the effect of rendering this Charter
null or of exposing stakeholder to any
liability beyond the unpaid amount re-
due on his stock
ARTICLE TX.
D. w. Ewing, D. B. Byrum. ] B.
Summers, &. A. Eavery, VIM. Coppage,
w. T. Miller. John F. Voigt, Jr., VIM.
Wilson, and S. NJ. Owings have been
chosen and selected as the first Board of
Directors of this corporation to serve
until the First Monday in July, A. D.,
1904, or until their successors shall have
been elected and qualified.
ID. w. Ewing is hereby chosen as
President of said Company, ID. B. By
rum as Vice. president. S. M. Owings as
Secretary and Geo. s. Richmond as
Treasurer. and said officers shall hold
their respective offices until the first