The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1903-12-19

boats and any apparatus necessary ant
convenient for carrying on the general
objects of this corporation, and ge'cr.
ally to any and all things necessary ~
convenient for the general pu-i sos oi
this corporation.
Article 8.
The capital stock of this corporation
is hereby declared to be Fifty Thousand
Dollars, divided into Five Hundred
shares of One Hundred dollars each
which shall be issued in cash or in ser
vices. or in property, or the stock may
be issued in payment of debts or liabili-
ties Of this company, or the expenses
and costs and fees for organization, And
this corporation shall begin business az
soon as Ten Thousand Dollars of its
stock is subscribed for and paid into the
Treasury.
Article 4.
The business affairs of this corporation
shall be administered by q Board of Di-
rectors TO be composed of not less than
three and not more than five in number,
each Of whom, must be the owner of one
or more shares of stock of the company.
Said Board shall be elected annually on
the frst Monday of December by a ma
jority of the stock at Il general meeting
of the stockholders of the company after
due notice of ten days given by mail by
the Secretary to each person owning
stock as shown by the books of the cor
pOration, and all boards shall hold over
until their successors are elected. A
failure from any cause to elect Directors
shall not operate forfeiture of this
charter or of any rights under SINE. but
the old Board shall hold over and an
other meeting of the stockholders shall
be called after ten days notice thereof
shall be given by the Secretary through
the mails to each stakeholder as afore-
said. The Directors shall have power to
I'LL all vacancies occurring in their num-
Der. At all meetings of the stockholders
each share of stock shall be entitled to
one vote to be cast either in person or
by proxy, but no one shall hold proxy
who is not himself stakeholder. All
elections shall be by ballot unless the
ballot is unanimously waived and dis
pensed with. The Directors shall elect
from their number Pre- idept, a Vice
President, and Secretary Treasurer, who
shall hold until their successors are
elected
Until the FIRST Monday in December
1904, the Board of Directors shall con-
sist of the following persons, who shall !
hold the position following their names: !
Robert 5. Barnett, President; Horatio A.
Brown. Vice-Pre~ident; George NJ. Les
ter, Secretary Treasurer.
Article 5.
This corporation may have and use |
corporate seal the design of which shall
be selected and changed ut will by the
Board Of Directors, and it shall have
power to execute and issue notes, con-
tract. sue and be sued, and all legal pro-
Tess shall be served on the President and
in the event of his absence from the
Parish OF the cOmpany's domicile, upon
The Secretary-Treasurer. This company
shall have corporate existence for the
period OF Dinety-n years from this date
Article 6.
The Board of Directors shall have now
n by majority vote of those present at
NY meeting for which majority shall
constitute quorum, to supervise and
administer the business of this corpora
ion, and to make all rules and by laws
herefor, and to make all contracts and
agreements necessary or convenient or
Incident to the business or purposes of
ms company, and to employ all labor,
ETHER skilled. clerical or otherwise, ali
or managers aud other
Employees Tor the purposes Of this com
,any and to fix all salaries aud wages of
he officers and employees of the com.
AMY.
In addition to the other powers of this /
orp"ratlon to he exercised by this
soard, the Board shall have power BIZ a ! ..
majority vote If the full board to- create
ebts and borrow money for the benefit
t the corporation, and to secure the same !
y mortgage and pledge of its property.
10 business other than the regular adj
business of the company
hall be transacted at any meeting unless c
ne and timely notice has been given to
ach director in writing through the I
sails in sufficient time to allow Of his
ttention, stating the general nature of
he business to be transacted.
Article Z.
The President of the Board of Direct
rs shall be the executive officer of the !
oard. and shall carry out and see to the
xecution of all the plans and directions
the Board. All checks or drafts for
'e company shall be signed by the
resident and Secretary Treasurer. The
resident may call meeting of the
GARD of Directors whenever he deems
necessary. and he shall call meetingf
ter giving timely notice in all cases
trough the mails or in person for the I
tendance of all members. upon the
ritten application of majority of the
~ board, and he shall preside at all
ceilings. The Vice-President shall per-
rm all the functions and shall have all
e powers of the President in the ab- u
nee or in the event of the inability of q
e President to act. The Secretary o
.easurer shall perform the duties usu- y
ly done BY such officer. The Board of n
irectors may provide bylaws not in g,
nsistent with this Charter what the =
tiles and powers of the several officers Ct
all be. rt
Article 8. ri
No stockholder shall be liablc for any = =
M beyond his subscription and shall ~
no way be liable for any of the debts g.
the corporation. No mere informal ~ =.
: in organization shall have the effect ;s
rendering this charter null or of or. 40