The Colfax chronicle., 1904-06-18

Inc corporate powers OF this COM
pany shall lie vested in and exercised
by n board of directors elected from
among the stockholders of said COM
pany. Three of said board shall con-
stitute.a 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: K. s. Murrell.
president; Dig. w. Durham, vice
president; DIR. w. A.iFletcher, secreta-
ry; with said f. 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 llcontinuein office until the Sd day
OF June, A. ID. 1905. on which date
and thereafter annually a board of ili-
rectors shall be 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 (1O)
days continuous publication i'm
mediately preceding each election.
in one of the weekly newspapers of
said parish; and the board of flirec-
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 COM
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
inabove 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 dlrec-
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 is consistent with the objects
OF this company, or the 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 a 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
flied or amended, the capital stock In
creased or decreased, or this cOrpOr-
alton may be dissolved at q 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 no.
tice OF such meeting shall he given
In any weekly newspaper published
In the parish. In case of dissOlu
tiOn or termination of this cOrpOr-
alton. either by limitation of its
charter, or from any cause, the
liquidation OF it's affairs shall be
conducted by three commissioners
elected from the stockholders with a
like assent and at meeting called
for that purpose, as above set forth
in this article. Said commissioners
shall remain i'm 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
ganization have the effect of rendering
this charter null or exposing stock
holder to any liability beyond the
unpaid balance. il any, on his stock.
Thus done and passed at my nota-
rial office I'm the town of Verda, Grant
parish, louisiana, on the day, month
and year herein first above written,
In the presence of +. N. Brian and 1. 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
reading of the whole.
e. S. MURRELL,
per g. W. ID.
g. w. DURHAM,
Attest: w. A. FLETCHER.
F. N. BRIAN,
7. N. KEGS.
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