The Colfax chronicle., 1904-06-04

capital stock shall have been suhscrib-
ed. The board of directors shall have
the right to determine how much
stock shall be issued.
ARTICLE Nv.
The corporate powers of this COM
pany shall be vested in and exercised
by a board of directors elected from
among the stockholders of said COM
pany.' Three of said board shall con-
stitute n 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: f.. S. Murrell.
president; DIR. G. w. Durham, vice
president; DR.. w. A.iFletcher, secreta-
ry; with said E. S. Murrell. treasurer.
No person shall be eligible as director
or an officer who is nOta stockhOlder
of this company. During the absence
OF the president the vice president
shall act and preside. Said board
shall continue in Office until the Sd day
OF June, A. ID. 1905. on which date
and thereafter annually a board of di-
rectOrs shall he elected on the Sd day
OF June of each year, unless the same
shall be a holiday, when the election
shall be held on the next legal day
thereafter. Notice Of such election
shall be given by at least ten (10)
days continuous publication i'm
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
| fuiir,pa pf
missiOners to attend, the president
shall by appointment. fill 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
office, as well as the officers of said
company shall hold over until their
successors are chosen. In such event
the president shall cause another elec-
tiOn to be held within thirty days,
and shall give notice thereof as here
inabOye provided. At every election
and meeting each stOckhOlder shall
be entitled to vote for each share of
stock registered in his name and may
vote by proxy. The election of dIrec-
tors shall be by ballot, and the ma
ljOrity 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 v.
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 is consistent with the objects
OF this company, or tho 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 1t 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
officers, 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 s 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.
fled or amended, the capital stock in
creased or decreased, or this corpOr-
, alton may be dissolved at a general
meeting of the stOckhOlder convened
| for this purpose, with the assent Ol
three fourths OF the entire stock,
, whether present or represented at
such meeting. Ten days prior notice
shall he given In any weekly news
: paper published In the parish. In
case of dissolution or termination Oi
, this corporation, either by limita-
, tiOn of fta charter or from any cause
The liquidation of it's affairs shall be
conducted by three commissioners
: elected from the stockholders with q
like assent and at meeting called
, for that purpose, as above set forth
? in this article. Said commissioners
shall remain in Office until the affairs
of said corporation shall have beer
: 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 he held liable or responsible
I: for the contracts or faults thereof ID
, 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
ganization have the effect of render
j ing this charter null or Of exposing q
r stockholder to any liability beyond
} the unpaid balance, If any, on hi
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
D age. residents of this city, who here
: unto sign their names, together with
: said parties and me Notary, aftel
r reading OF the whole.
IL E. s. MURRELL,
= per G. w. ID.
g. w. DURHAM,
Il Attest. W. A. FLETCHER