The Colfax chronicle., 1904-06-11

pany. Three of said board shall con.
stitute quorum for the transaction
OF business, and their decision shall
be valid corporate acts. The follow.
Ing named shall constitute the first
board of directors: T.. s. Murrell
president; DR.. G. w. Durham, vice
president; Dr..W. A.tFletcher, secreta.
~; with said e. s. Murrell, treasurer,
No person shall be eligible as director
or an officer who is not a stOckholder
OF this company. During the absence
OF the president the vice president
shall act and preside. Said board
shall continues in Office until the Sd day
OF June. A. ID. 1905, on which date
and thereafter annually a board of d.
rectors shall be elected on the Sd day
OF June OF each year, unless the same
snail be a holiday, when the election
snail be held on the next legal day
thereafter. Notice of such election
shall he given by at least ten (1O)
days continuous publication Inn
mediately preceding each election,
In one OF the weekly newspapers OF
said parish; and the board of direc-
tors shall appoint one or more stock
holders to preside at such election as
commissioners. In the event of the
failure OF any commissioner or CON-
missioners to attend, the president
email by appointment, I'LL the vacancy.
ANY failure from any cause whatever
to elect directors the day named for
that purpose shall not dissolve the
corporation. but the directors then In
ONCE, as well as the officers of said
company shall hold over until their
successors are chosen. In such event
the president shall cause eanOtherelec-
ton to be held within thirty days,
and shall give notice thereof as here
inabOve provided. At every election
and meeting each stakeholder shall
be entitled to vote for each share of
stock registered in his name and may
vote by proxy. Theelection of direc-
tors shall be by ballot. and the ma
JOrity In amount OF votes cast, each
share OF stock to be voted upon to be
counted as one vote, shall elect the
person or persons for whom they
have been cast. After each election
the board of directors shall elect from
their own number the officers of said
company.
ARTICLE
The board OF directors shall have
full power to fill vacancies in their
number caused by death, resignation
or otherwise, from among the stock
holders Of the corporation. The said
board shall have full control of the
property of this company, and shall
so conduct, manage, and use the same
as in their discretion they deem fit,
and that 10 consistent with the objects
OF this company, or thu welfare of
the same. The said board is further
authorized to adopt such bylaws.
rules and regulations as the affairs
and business OF the corporation may
require, and as it may deem necessary
for the conducting and management
thereof; provided the same shall not
conflict with this charter, or with the
laws of the State. or of the United
States. The said board shall elect or
appoint secretary and such other
OmcerS, agents, servants and clerks
as 1t may deem necessary for the con-
Quoting OF the business Of the corpor
alton; fix their compensation, term
OF service, with the right to dismiss
them at the board g pleasure; the said
board shall have the right to fix and
determine the salaries of the several
Officers herein provided for.
ARTICLE vi.
This charter may be changed, mod
flied or amended. thecapital stock in
creased or decreased, or this corpor-
alton may be dissolved at general
meeting of the stockholder convened
for this purpose, with the assent of
three fourths of the entire stock,
whether present or represented at
such meeting. Ten days prior mo-
tice OF such meeting shall be given
In any weekly newspaper published
In the parish. In case of dissolu
tion or termination of this corpor-
ation, either by limitation of its
charter, or from any cause, the
of its affairs shall be
conducted by three commissioners
elected from the stockholders with a
Ike assent and at a meeting called |
for that purpose, as above set forth
In this article. Said commissioner
shall remain In Office until the affairs
OF said corporation shall have been
fully liquidated. In case of the death
OF one or more Of the commissioners
the survivor or survivors shall con-
tinue to act.
ARTICLE VII.
No stockhOlder of this corporation |
shall ever be held liable or responsible |
for the contracts or faults thereof in |
any further sum than the unpaid bal |
ance due the company on the share |
Of stock subscribed for or owned by
him, nor shall any informality in or |
have the effect of rendering |
this charter null or exposing q stock |
holder to any liability beyond the
unpaid balance. II any, on his stock.
Thus done and passed at my nota-
rial officein the town of Verda, Grant |
parish, Louisiana, on the day, month |
and year herein first above written,
in the presence of F. N. Brian and /. N.
KEGS, competent witnesses Of lawful
age. residents of this city, who here
unto sign their names, together with
said parties and me Notary, after
Of the whole.
e. 8. MURRELL,
per G. w. d.
g. w. DURHAM,
Attest: w. A. FLETCHER.
3. N. BRIAN,
I. N. KEGS.
[sEAL] URIAH e. DEWITT,