The Caucasian. (Shreveport, La.) 1900-192?, 1903-06-03

at one hundred dollars ($Ioo) each
When issued the same shall be paid uf
stock, and not subject to any assess,
1nent.
Section l. Said stock shall be paid
for al such times and in such manner
as the board of directors may determine
The board of directors shall have full
power and control over the sale of al
stock that may be held by the company
as treasury stock, with the full power tc
sell such treasury stock, to fix the price
at which the same shall be sold, and
also the condition, manner and provis-
ions fof the sale thereof; stock paid up
and not subject to assessment may be
issued by said board of directors, at not
less than par value, in payment of labor
done or property and rights actually re-
ceived by the said corporation.
ARTICLE V.
All TIE corporate powers of said cor
rcration shall be vested in and exer-
ciscd by board of directors, to be COM
fosed of seven Cd stockholders, each
IF whom must be the owner of at least
ten (Io) shares of the capital stock of
sid company, who shall be elected an
nually on the second Thursday of May
of each year.
All such elections shall be by ballot
and conducted at the Office of said cor
poration under the superintendent of
three commissioners, to be appointed by
the board of directors, and of which
election ten days prior notice shall be
given in one or more newspapers pub
lished in the cities of Leesville, State
of Louisiana, and Kansas City, State of
Missouri; and each 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 by proxy or
in person, and majority of votes shall
elect. Any eacancies occurring among
the directors by death, resignation or
otherwise, shall be fiilea for the re-
mainder of the year by the remaining
failure to elect directors on
the date above specified shall not dis
solve the corporation, but the directors
then in Office shall remain in office until
their successors are elected and quail
fed, and shall cause to be had another
election as soon as possible thereafter,
after ten days prior notice thereof shall
have been given in one or more news
papers published in the cities of Lees
vile, St:te of Louisiana, and Kansas
City, State of Missouri.
Said board of directors shall also
nave full power and authority to borrow
$oney, execute mortgages, issue notes,
bonds or other obligations, and general
y to do all things reasonably necessary
'or the proper carrying on of the bust
less of the corporation, as also to issue
md deliver full paid shares of stocks or
ponds or obligations of said corporation
If not less than par, in payment of labor
lone Or money borrowed, or property
or rights actually received by said cor
soration; and to acquire and sell inven-
ions and letters patent pertaining to its
or license to use such inven-
ions and letters patent.
ARTICLE VI.
The following named persons. te-wit |
|. NJ. Gore, ]. d. Justice, W.. B. Betty, |
J. S. Love, H. M. Harrison, S. G. War
ler and S. p. Slope have been chosen
nd selected as the first board of direc-
ors Of said company, to serve as such
Until the first annual meeting or as here
n provided for, to-wit: the second
thursday in May, nineteen hundred and
our, or until their successors have been
iected.
J. M. GORE,