The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1905-05-27
ARTICLE "

The Capital Stock Q. lis Corporation is hereby
fixed at One Hundre, thousand Dollars $500
| 00000), divided into Thousand q 600 share:
Of the value of One HI bred Dollars 1890 oo] each
all oflwhich stock has eli subscribed and paid fo
in cash or its equivaleI and this corporation shall
| therefore commence i .iness go into effect, be
come operative and be al.ong concern Immediately
/ The transfer of stock of this corporation shall
not be binding upon the corporation unless the
| same appears upon the books of the corporation.
ARTICLE v.
| The corporate powers of this corporation are
| vested in and shall be exercised by board of
| directors, to be composed Of not less than Five
| III nor more than Eleven iii stockholders who
shall be elected annually at meeting of the
stockholders to be held at the Companys office in
Patterson, Louisiana, the Second [2ndl Tues
duy in nne OF each year; and at least ten days
notice shall be sent through the mails to each
stakeholder by the secretary, stating the exact
place and hour of the meeting. At said meetings
and before the election of the directors, the num-
Der of directors to be elected shall first be de-
termined and fixed by the stockholders the votes
shall be by ballot, which may be cast either in per
son or by written proxy, and each shareholder shall
be entitled TO as many votes as he has shares of
stock standing i'll his name upon the books of
the corporation; and the number of directors first
determined on at each election who shall receive
a majority OF the votes cast shall be declared
elected. At the same place, and Immediately af-
ter the election of the directors, the said drec.
tors shall elect from among their number pres
ident, vice president, secretary and a treas
urer and "A general manager, and such other of
laws or by resolution of the board; the office of
treasurer or the office of general manager or
both OF these offices, may be held by the same di-
rector who is also secretary. A failure TO hold
election the date specified shall not operate
dissolution OF this corporation, but the direc-
tors aud officers shall hold until their sue
cessors shall be elected and qualified
The duties of the aforesaid officers shall be such
as are usually conferred upon such officers of cor
poraionsi but the said board of directors shall
have power to formulate and adopt such by. laws
riI lAs md afrI1In I,fty,f,,
be deemed proper Any and all vacancies however
they may occur in the board of directors or in any
OF the offices OF this corporation shall be filled by
the remaining directors A majority of the mem,
bers constituting the board of directors shall CON
stitute quorum for the transaction of any and
all business except such as may be hereinafter
specially provided otherwise or otherwise regu
Until the election herenabove provided
for Messrs. Joseph Brig, Henry S. PaIfrey.
clyde A. Barbour, Wilson I. Peterman,
Charles ID. Craighead, William Kyle, R. Lee
Riggs, William Davis and James A. Peter |
man shall cE institute the first board of direc-
tors. with Wilson T. Ptterman as President
Oh the corporation, Clyde A. Barbour as Vice |
Treasurer and General Manager of the cor |
poratlon; and they shall hold their respect |
I'VE Offices until the Second l2nd) Tuesday |
in June. 1906, or until such time as their ne. |
cessors shall be elected. .
ARTICLE VI.
The Capital Stock of this Corporation NAV
be increased or diminished at anv time in
accordance with the laws of the State OF |
louisiana; ana this Charter may be other |
wise amended, altered or modified or the
corporation dissolved, by vote of three.
ourths 90 of the Stockholders, cast in per-
son or by written proxy, at a special meet
ng called for that purpose, after written
notice OF such meeting shall have
been sent by mail by the secretary to each
'tockholder at least ten days prior to such
meeting and shall have been published in at
east two consecutive issues of weekly
newspaper published in the Parish of st.
Nary and at such meetings, the votes shall
took, each stakeholder being entitled to
me vote for each share of stock owned by
" him.
ARTICLE VII.
Inc stockholders of this corporation shall
lever be held liable for any of the debts.
ontracts, faults or obligations of this cor
'oration, in any further sum than the unpaid
aiance due upon any shares owned by him
q the organization hereof render this char.
e. null, or expose any stakeholder to any
liability whatever.
ARTICLE VIII.
AZ the dissolution Of this corporation by
imitation Of its term or otherwise, its affairs
nail De IlquIdated by Three ~ commissioners
, pc elected by the stock holders from among
leir number, in the manner provided for the
lection OF directors land said commissioners
nall have full power and authority to collect
II claims, sell all property, and convey
)nplete titles thereto, and general do all {
cts necessary or incident to a prompt and ,
smplete settlement and liquidation of the
Iairs OF TINS corporation, and distribution
the ultimate results according to law, ,
ARTICE TX.
The entire Capital Stock of this Corpora
on having been subscribed and paid for as {
blows. this shall serve as and constitute the
.lglnal stock subscriptions, viz: Joseph
lrg subscribes one hundred NOO) shares, 6
enry ). Palfrey snbscrbes two hundred
oo) shares, Charles d. Craighead subscribes S
70 hundred (200) shares, James A. Peternan | f
Describes one hundred 900 shares, William :
avs p Suhscrlbes thirty eight 1881 shares. r.
ee Riggs subscribes one hundred (lOO)
lares' William Kyle, subscrbes fifty (5O)
lares, Clyde A. Barbour subscrlbes one ,
inbred 1901 shares, Wilson T. Peterman d
lnscrlbes one hundred U0Ol shares, A. L. Q
lienpeter subscriDes twelve T12l shares. r
Thus done and passed at my office in the s
trish OF st. Mary, State of Louisiana, on the
~ and date first above written, in the pre- u
nee OF Messrs. Gustave Guess and Emmet U
pna' competent witnesses, who have signed s
lese presents with said appearers and me, +
id Notary, after due reading.
C'Originally Signed''D b