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

erection, maintenance, and operation OF
all appliances, tram ways, barges, steam
boats and any apparatus necessary and
convenient for carrying on the gcner"'
objects Of this corporation, and gencr-
ally to any and all things necessa"v o.
convenient for the general purposes OF
this corporation.
Article 3.
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 i'll payment Of debts or llablli-
ties Of this company, or the expenses
| aud costs and fees for organization, And
this corporation shall begin business as
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 a 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 first Monday of December by Il ma
jority Of the stock at ii 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 snail hold over aud 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
fill 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 a 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 Il Pre- ident, ii 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-
sSt of the following persons, who shall
hold the position following their names:
Brown, NicePrc~ident; George NJ. Les
ter, Secretary Treasurer.
Article ).
This corporation may have and use IL
corporate seal. the design of which shall
be selected and changed at will by the
Board Of Directors. and it shall have
power to execute and issue notes, con-
tract sue and he sued, ana all legal pro-
cess shall be served on the President and
in the event of his absence from the
Parish of the cOmpany's domiciie, upon
the Secrctary-Treasurer This company
shall have corporate existence for the
period of ninety mine ears from this date
Article g.
The Board of Directors shall have DOW
cr by majority vote of those present at
any meeting for which majority shall
constitute a quorum, to supervise and
administer the business of this corpora
ton, aud to make all rules and by laws
therefor, and to make all contracts and
agreements necessary or convenient or
incident to the business or purposes of
this company, and to employ all labor,
eith'r skilled. clerical or otherwise, all
sul"rntendtnts or managers aud other
employees for The purposes of this com
pany and to fix all salaries and wages of
the officers and employees of the com
pany.
In addition to the other powers N this |
corporation to be exercised by this |
Board, the Board shall have power by a !
majority vote nf the full board to create |
Iiebts and borrow money for the benefit |
Of the corporation, and to secure the same
by mortgage and pledge of its property. |
No business other than the regular adj
business of the company
shall be transacted at any meeting unless
iue and timely notice has been given to
each director in writing through the
nails in sufficient time to allow of his
attention, stating the general nature of
he business to be transacted.
Article 7.
The President of the Board of Direct
US shall be the executive officer of the
}oarG. and shall carry out and see to the
execution of all the plans and directions
# the Board. All checks or drafts for
he company shall be signed by the
President and Secreiary-Treasurcr. The
President may call meeting of the
}Oard of Directors whenever he deems
necessary, and he shall call meeting
fter giving timely notice in all cases
Trough the mails or in person for the
Tendance of all members. upon the {
'ritten application Of majority of the
MI board, and he shall preside at all +;
leetings. The President shall per-
Drm all the functions and shall have all
be powers of the President in the alb
ence or in the event of the inability of
ne President to act The Secretary
treasurer shall perform the duties usu- +,
lily done by such officer. The Board of
directors may provide bylaws not in
)nsistent with this Charter what the {
uties and powers of the several officers |
lall be. e
L. |