The Caucasian. (Shreveport, La.) 1900-192?, 1907-08-11
Louisiana
ARTICLE III.

! he Nature OF tllt DuSllSSS ~ ot ldl
ried on and the purpose for which this
corporation are established are as fol-
lows: To buy and sell land or timber,
to manufacture and sell lumber and to
conduct general saw mill business.
ARTICLE ".
| The corporate powers of this corpora
ton shall be vested in board Of direc-
tors composed of six stockholders. The
directors sahll elect a president, vice
president, secretary-treasurer, and shall
prescribe the duties OF each. Election of
directors shall take place the second
Tuesday of January of each year. The
first board of directors shall be as fol
lows: N. A. Ayers, Z. r. LaWfon, r. S.
Ayers, F. S. Ayers, ]. E. Bell and R0
T. Lawhon, with Z. r. Lawllou, presi-
dent N. A. Ayers, vice president, and
F. S. Ayers, secretary-treasurer. Az
officers and directors shall serve until
their successors are elected. Service of
all legal process shall be made on the
president Or in his absence on tie
vice president, Or in the absence of both
on the secretary at the office
of the company The board OF directors
may appoint such managers, agents or
sub-oflcers as the interests Of the cor
poration may require and make and es-
sary and proper for the management and
regulation of the affairs of the corpora
ton. If any vacancies occur among the
officers or directors the remaining direc-
tors may select stockholders to fill the
same The board of directors shall have
the power to borrow, and lend money,
issue bills of exchange, notes, bonds,
drafts, and all other negotiable paper;
execute mortgages and generally to do
all things incident to the objects and
purposes of this corporation.
ARTICLE V.
The capital stock of this corporation
shall be seventy-five thousand dollars
($75, ooo.oo) divided into seven hundred
and fifty shares of the par value of one
hundred dollars ($Ioooo) each. This
stock shall be paid for III cash or its
equivalent at the time OF its subscription
unless other terms are allowed by the
board of directors. The corporation is
authorized to commence business when
fifty thousand dollars ($5o,ooooo) of
the capital stock shall have been sub
scribed and paid for. No stakeholder
shall be liable for more than the unpaid
balance on the stock subscribed for by
him, nor shall any mere informally in
the organization have the effect of rem
dering the charter null OF of exposing a
stakeholder to any liability beyond the
amount of his stock.
ARTICLE vi.
The directors shall be elected by bar 4
lot at the regular annual meeting called
for that purpose, or any meeting adj
Journed from same. At all stockholders
meetings each share of stock shall be en-
titled to one vote, a stakeholder may
vote by proxy. A majority of the stock
holders shall constitute a quorum. A
majority of the stock present shall elect
directors. Special meetings may be
called at the pleasure of the president
or on demand of three stockholders The
stockholders of this corporation at
general meeting called for that purpase,
on demand of three stockholders. may
modify, add to, change. alter or amend,
or dissolve the corporation with the as
sent of three fourths of the stock repre-
scented al such meeting. This shall not
apply to increasing or decreasing the
capital stock which is done under special
laws Ten days written notice of any
meeting shall be mailed to address of
each shareholder by the secretary. If
dissolution be determined on, a majority
Of the stock present shall elect three
liqudators at the meeting so determn-
ing, and shall provide for filing any pos
sible vanacies among SAID llquidators-
In testimony of the above articles OF
incorporation, in the presence of the at
testing witnesses and before me, notary,
the undersigned incorporates have
hereunto set their names.
Done and passed at my Office III
August A. d. 1907.
T. r LAWHON.
N A. AYERS.
F. S. AYERS