The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1905-05-13
ARTICIEEV


The Capital Stock of this Corporation is hereby
fixed at One Hundred Thousand Dollars tSlOO
900 00), divided into One Thousand Il OOO) shares
Of the value Of One Hundred Dollars 1900 COL each
in cash its equivalent and this corporation shat
therefore commence business, go into effect, be
come operative and be- algoing concern immediately
not be binding upon the corporation unless til.
same appears upon the books of the corporation
+: ARTICLE v.
The corporate powers of this corporation ART
{ vested in and shall be exercised by board Of
directors, to be composed Of not less than Five
III nor more than Eleven M stockholders. who
shall be elected annually at meeting of the
stockholders, 10 IN held at the Company offce in
Patterson. Louisiana, on the Second [2pdI Tues
day in june Of each year and at least ton 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 mum
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
, ir entitled to as many votes he has shares Of
stock standing in his name upon the books of
determined on at each election who shall receive
a majority of the votes cast shall be declared
elected At the same place, and Immediately At
ter the election Of the directors The said dircc
tors shall elect from among their number q pres
ident, a vice-president, . secretary and treas.
urer and general manager, and such other of.
laws by resolution Of the board the Office If
treasurer or the office of general manager, OK
both OF these Offices, may be held by the same d.
rector who is also secretary failure to hold
an election on the date specified shall not operate
dissolution Of this corporation but the direc-
cessors shall be elected and qualified.
The duties Of the aforesaid officers shall he such
as are usually conferred upon such officers Of cor.
porations: but the said board of directors sh all
have power to FORMULATE and adopt such bylaws
and pI,.fsx lAkv
be deemed proper. Any and all vacancies however
they may OCCUR i'll the board Of directors or in any
Of the Offices Of this corporation shall be filled by
bers constituting the board of directors shall con
stltute quorum for the transaction of any and
all business except such may he hereinafter
specially provided otherwise. or otherwise regu
Until the election hereinaboye provided
Tor Messrs Joseph big. Henry 5. Palfrey,
CLYDE A Barbour, Wilson I: Peterman,
Riggs, William Davis and James A. Peter |
man shall &C institute the first board Of direc-
tors, with Wilson I Peserman as President
President, and 4. Lee Riggs us Secretary ana |
Treasurer and General Manager of the cor. |
poratIon; and they shall hold their respect
I'VE ofiices until the Second (2nd) Tuesday |
in June, 1906, or until such time as their sue
cessOrs shall be elected.
ARTICLE VI.
The Capital Stock OF this CORPORATION NAV
be Increased or diminished at any time in
accordance with the laws of the State of (
Louisiana; and this Charter may be other
wise amended, altered or modified or the
corporation dissolved, by q vote of three
'on or by written proxy, at a special meet
ng called for that purpose. after written
notice OF such meeting shall have
at least ten days prior to such
meeting and shall have been published in ut
east two consecutive issues of Il weekly
,ewspapsr published in the Parish of st.
Nary, and at such meetings, the votes shall
~ according to the number OF shares of
tock, each stakeholder being entitled to
ne vote for each share Of stock owned by
~ him.
ARTICLE VII. +
The stockholders Of this CORPORATION shall
ever be held liable for any of the debts,
ontracts, faults or obligations OF this cor.
alance due upon any shares owned by him
D the corporation; nor shall any informally
D the organization hereof render this char
r null, or expose any stockholder to any
ARTICLE VIII. +
At the dissolution OF this corporation bv
ARlfat1qps Qf Its term or otherwise, its affairs
} be elected by the stock holders from amopo :
actn nu ~ Si IN sne manner provided for the
naii nave 1uIl power and authority to collect i
.,s titles thereto, and general do ali
I,s
,mplets settlement ard liquidation of the
fs i'. o. inis corporation. and distribution
'Ae ni''mate results according to law =
- ARTICE TX.
me entire Capital Stock of this Corpora. =
in ow svi tpis been been subscribed and paid Tor
lginal stock subscriptions viz: Iosenb
~ suDscribes one hundred il0O) shares.
s smry ). Palfrey snbscribes two hundred 81
NJ shares. Charles d. Craixhead subscrbes a.
o hundred (2oO) shares, James a. Petsr,nan :, 81
1s &c one hundred goo shares, William u
e Riggs subscribes one hundred 3,mI
ares William Kyle subscriLes ifty tSo)
ares. clyde \; Barbour subscrlbes one
ndrsd ilOO1 shares, Wilson T. Peterman m
,scrites one hundred (lOO) shares, 4. T. Of
enpeter subscriDes twelve ll2] shares. -,
nus done and passed at my Office in the ~,
rish OF 81. Mary, State of Louisiana. ON the 81
ana date first above written, in the pre- du
re " Messrs: Gustave Guess and Eminet IN
, .n.. Mpetcnt WITNESSES who have signed 81.
Notary, after due reading Di