The Caucasian. (Shreveport, La.) 1900-192?, 1907-06-23
ARTICLE ".


ton shall be vested in board of direU
tors composed of FIVE stockholders. The
directors shall elect a president, vice
president and secretary treasurer, ane
shall prescribe the duties of each.
Election OF directors shall take place
the first Tuesday of June in each year.
The first board of directors shall be as
follows L. K. Lawhon, J. A. Thigpen,
Frank J. Looney, A. c. Pitts and c. L.
Gaines, with T.. r. Lawhon. president:
ii. A. lhigpcn, vice president, and
Frank J. Looney secretary treas1rer
All officers aud directors shall serve un-
| til their successors are elected
Service % all legal process shall be
made OH the president, or i'll his absence
OH the secretary at the office Of the COM
paHy,
Three directors shall constitute a quo
rum to do business,
| The boar! III directors may appoint
such managers, agents or sub-officers as
the interests II the corporation may re-
qure, and make aud establish such by
| laws as may be necessary and proper
| for the management and regulation of
the affairs oi the corporation. If any
vacancies occur among the officers or
directors the remaining directors may
select stockholders to fill the same
The board Of directors shall have
power to borrow and lend money issue
bills of exchange, notes, bonds, drafts
and other negotiable paper, execute
mortgages and generally to do all things
incident to the object and purposes of
this corporation.
ARTICLE V.
The capital stock of this corporation
shall be thirty thousand dollars divided
into six thousand shares of the par
value of FIVE $500 dollars each This
stock shall be paid for in cash or its
equivalent at the time of its subscription
unless other terms are allowed by the
board of directors.
At least one thousand shares of the
par value of FIVE ($5.ooooo) thous
and dollars shall be subscribed and
paid for before this corporation
shall commence business. Nc stocite
holder shall be liable for rosts
than the unpaid balance on the ,taras+
subscribed for by him, nor sha, par
mere informally in organization, costs
the effect of rendering the chart
or of exposing a stockholdersb Soo
liability beyond the amount of 1915, total
ARTICLE VI.
The directors shall be eleenl 'sii 1 ,Js =
lot at the regular annual me'5o. interest
for that purpose Or any r
journed for same. AT all sdlawn sub
meetings each share of stock va ooc;
entitled to one vote. A Stockholders
vote by proxy. A majority of the stosz.
shall constitute a quorum. A majoritn
of the stock present shall elect the dil
rectors.
Special meetings may be called at. the
pleasure of the president, or OF, demand
of three stockholders
The stockholders of this corporation at
la general meeting called for that pur-
pose on demand of three stockholders
may modidfy, add too, change, alter or
amend or dissolve the corporation with
the assent of three-fourths of the stock
present This shall not apply to increas-
ing or decreasing the capital stock,
which is done under special laws Ten
days written notice of any meeting shall
be given by the secretary.
If dissolution be determined on, ma
| jority of the stock present shall select
three liquidators at the meeting so vde-
termining, and shall provide for filling
any possible vacancies among said
liqudators.
In testimony of the above articles of
Incorporation, in the presence of the
attesting witnesses and before me, no-
tary, the above named incorporators
have hereunto set their names
Done and passed at my Office in
Shreveport, La, this Goth day of June,
A. d. 1907.
A. c. PITTS,
Subscribing for $40 shares.
T. R. LAWHON,
Subscribing for 900 shares.
FRANK OONEY