The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1903-01-09

by its corporate name and shall possess III Wv,
powers incident to corporations ana an ynars
lied by law, for the period of twenty-five years
from the date of this act.
ARTICLE ~.
The capital stock Of this corporation is fixed
at five hundred thousand dollars SS2Uo;onVUUDI;
divided into five hund red thousand Eoo0.o00$
each with the privilege of increasing or de-
creasing the same i'll the manner provided by
All stock subscribed shall be paid for in
cash at the time of subscription; provided
pr0psrty rights may be given and received in
payment for stock subscribed, IN such manner
and in conformity to law. The certificates
Of stock shall be signed by the PRESIDENT anu
seal of the Company and shall not be issued
until fully paid for and are transferable Only
on And nd this company shall be authorized to
begin business as soon as ten thousand, Io,9ouii
for. or in a larger or less amount us the B GARD
OF Dlrecto rs may direct, and all stock mol s4n o
scrlbed for shall remain the property or the
corporation and shall be called treasury stock-
ARTICLE V.
The capital stock may be increased or de-
creased at such times ana to spcn an amour ;d
vote of the stock voting at any meeting. Inc
Of any treasury stock for the purpose of i'm
prOvement of corDoration properly ana pay
ment for labor perfor M ed or services rendered,
and in payment of interest and in the actual
sstnck may be- disposed Of at less than par val
nv Tie rnrice to he lived by the b GARD OF Direc-
tors and shall be worcestershire.
ARTICLE VI.
The powers OF SAID corporation shall be
vested in "a Roard Of Directors to be composed
of fifteen stockholders to be elected yearly
on the first Tuesday after the tenth Of July
tors appointed under the charter shall serve
until the annual meeIing in the year A. ID.
shall b e' elected and quaiitied Ten days notice
by registered letter to the last known ad-
:" 9 nsS 81 fifteen days published at the
domcile OF the corpora ton shall be the notice
shall be entitled to one vote and the majority
Of: the votes cast at such meeting shall elect
| The Board of Directors snail annually elect
from their number President NIce-Presl-
managers and Under officials as they may deem
necessary for the purpose Of carrying on their
ton All officials shall be elected to serve
during the term of the Board of Directors
Six Of the members Of the Board directors
shall constitute Il quorum for the transaction
of business The Board of Directors shall have
all necessary power to make by laws, rules and
regulations for the government OF the affairs
of the corporation and to change the same
Whenever they deem 1t necessary. Vacancies
in the Board Of Directors shall be filled by the
said Board of Directors during the interval
between elections Iu all elections stock-hold-
ers may vote their stock III person or by writ
Ali citations and legal processes shall be
served on the President, and IN his absence on
| the Vice President, and IN the absence OF both
the President and Nice-President, On the Sec
reIary.
This charter may be amended or altered or
the seid corporation may be dissolved by q
vote of the stockholders owning three-fourths
for that purpose after thirty days notice i'll a
newspaper published at the domicile of the
ton of this corporation. its affairs shall be
| liquidated by three commissioners who shall
number. A majority vote of the ockhoders
shall elect such commissioners and shall es-
| ton and shall make and define the powers. du-
ties and emoluments of said commissioners
number shall be filed, if any occur.
ARTICLE VIII.
The corporation may have and use corpo-
| ration seal and break and alter the same at
p1N''' ARTICLE X.
The President shall be the executive officer
| of the corporation. He shall, when present,
| preside at the meetings, and is hereby author
| ICED to act for said Corporation, to sign all
acts. deeds and conveyances mortgages' Ieas as
| es or pledges, or receive the same in the name
thorized ed party and representative Of the cor
| poratiOn to institute suits and to defend the
| take all such necessary steps to secure protec-
| ton, defend and protect the rights of the said
The Vice-President shall act for and instead
OF the Pres Ti i, when he is absent and all
Of the President shall have the same force and
power as though zone by the President
| the Board of Directors and of the stockholders
meetings. He shall sign with the President
all acts of mortgage and other conveyances
The Treasurer shall be the custodian of all
funds of the corporation and shall pay them
out only on the order of such person or per-
sons may be des1gna ted by the Board of
Direc tors. He shall furnish bond as such
Treasurer in such an amount may be decided
upon and approved by the Board of Directors.
ARTICLE X
No stakeholder of said corporation shall ever
| be held liable or responsible for the contracts
nj IN nf tInn fr,. /,
| sum than the unpaid balance due said corpo-
| ration on the shares of stock owned by him IS
| fixed and determined by said Board of Direc-
! tors, Stock in said corporation may be issued
| such labor and services to be fixed and deter
| mined by said Board of Directors,and no mere
| technical informality in the organization of
| said corporation shall have the effect of rem
| exposing any stockholders to any liability in
| excess of the shares of stock owned by any
| stockholder.
ARTICLE XI.
| ter shall consist of the following named per
| sons: John Q. Lee, John Ii. Heron c. A.
Richmond, Jacob l.. Keller, Charles Hughes
Charles a. Parker, F. g.; Stevens, John W.
ham, A. j. McKillop. John H. Cooper, s. h
keoughan and n. L. Kelly, of whom the said
John 9. Lee shall be President, F. q. Stevens
PRESIDENT; Jacob l.. Keller. Secretary an
their respective offices until their successors
shall be elected as provided for in this charter.
IL his done, read and passed in the city of
Welsh, louisiana, on the day, month and year
Wlldman and Edward Scharh, lawful witness
eS, VINO have hereunto signed their names with
the said appearers me, the Notary Public
after due and audible reading of the whole.