The southern sentinel. (Winnfield, La.) 1883-1910, 1906-08-31

the majority of said Board of Directors shall
constitute quorum. The stockholders shall
hold regular annual meetings: the time Of
which shall be designated in the bylaws Of the
corporation, AMI at such meetings shall elect a
Board of Directors and transact anv other law
fnl business that may come before their meet
inEs. The said Board of Directors shall meet
within two days after the regular annual
meeting of the stockholders and at such meet
ing shall elect a President, yice-President,
Manager, Secretary and Treasurer and such
other officers they may deem necessary to
serve for the ensuing year. The first Board of
Directors shall be composed of W. R. James,
ID. Z. James, j. w. Boyett, Sr., ]. w. Boyett,
Jr., and j. A. Boyett. and they are hereby
given the authority TO elect such officers as
they may see proper for the ensuing year. In
all elections for directors and other matters
each stockholder shall be entitled to one vote
for each share owned by him and these votes
must be cast b. the stockholders in person or
by proxy, and he majority of the votes cast
shall elect The Board of Directors shall make
such bylaws, rules and regulations as may be
necessary for the proper management OF the
business Of this corporation and shall change
or amend thu same as they deem best and shall
have the power to provide for contract debts
borrow money, issue bills of exchange, notes
acceptances, execution of mortgages and n.y.
pothecations and for doing all other things
incident TO the objects and purposes of this
corporation.
ARTICLE SIX.
This charter may be changed or amended by
majority of votes of its stockholders and Il
sooner than fifty years from date hereof a
majority of the stockholders should determine
to dissolve his corporation, its affairs shall be
liquidated by person selected by said stock
holders.
No stock holder shall be allowed TO own more
than fifty shares in said corporation and in any
event be liable for the contracts faults of the
officers of said corporation beyond any I'M
paid balance that may be due by him to the
corporation on the stock owned by him.
Shares of stock may be conveyed or sold oil
transferred to the company or corporation only
and then only by giving ten days notice TO the
President of The number of shares to be sold
and the price for which the said sale is to be
made, who shall in turn notify the other
stock holders. and they shall have the option
of buying the stock offered for sale by paying
its actual value, first deducting any balance
that he may owe the company. No person
shall have the right to vote on shares OF stock
transferred 20 him until the transfer shall first
have been made on the books of the
company.
ARTICLE EIGHT.
The President, or IN his absence. or in case O
his inability TO act, the Vice President shall
give each stakeholder ten days notice before
the annual meeting of stockholders, to DC
held as may hereinafter be determined; and
at any call meeting OF the stockholders they
must have notice five days before the date on
which they are called TO meet unless they
should waive such notice.
Thus done and passed in NV notariar Office
at the town of WINFIELD, on the day and in
the month and year first above written, in the
presence OF E. +. Kidd and j. w. WATSON
competent witnesses, who hereunto subscribe
their names. together with said parties and me
| notary.
w. r. James by ID. E. James, 5000; ]. w
Boyett, ST.. by ID. e. James, 5000; j. w
Boyett, Jr., by ID. E. James, 1900; ID. E. James
81, 500; j. A. Boyett by ID. E. James, 3 900.
witnesses: JULIUS 7. LONG
| Earl T. Kidd tSealI
Having examined the foregoing act of in.
corporatiou and finding nothing contrary IL