The Caucasian. (Shreveport, La.) 1900-192?, 1907-05-26

hundred (sIoo.oo) dollars each. as mar
value, to be issued for cash. or ;ts
equivalent; and this corporation shall
become a going concern as soon as thir-
ty 600 shares OF It's said stock shall he
subscribed and paid for.
ARTICLE Y.
All the powers OF this corporation
shall be vested Ill and be exercised by a
board Of directors, and all ne business
affairs shall be conducted by said board,
to be composed of not less than three
and not more than five stockholders,
who shall be elected annually, by bal
lot, at meeting to be held on the first
Monday in May 1908, and thereafter,
at which time officers shall be elected
and shall hold their respective Offices
until their successors are elected and
qualified. Vacancies occurring in said
board, from whatever cause, shall be
filled by the remaining directors
The board of directors shall have the
power to make all bylaws necessary
for the conduct OF the affairs of said
corporation, shall elect from their num-
Der president, vice president. a Sec
rotary and a treasurer, provided, how
ever, director may fill any Office in
connection with the office of treasurer,
and shall also appoint such other Of
fcers, agents and employees as may TO
said board seem necessary; a majority
thereof shall constitute a quorum for
the transaction of any and all business.
Until election hereinabove provided
for, and until the officers shall have
been elected and qualified, the follow
ING shall constitute the first board of
directors and officers OF said corpora
ton: H. B. Scoheld. president; H. w.
Scofeld, vice president; and Sterling
Palmer, secretary and treasurer.
Notice of said election shall be given
by ten days notice i'll any one of the
public newspapers published in the city
of Shreveport At all meetings of stock
I holders, upon all questions, majority
of all stock voting shall prevail. and
each share shall be entitled to one vote.
ARTICLE VI.
This act OF incorporation may be al
tered and amended by vote of three
fourths in amount of the capital stock
of said corporation, or said corporation
may be dissolved by vote of three
fourths in amount of said stock, at
general meeting of the stockholders
convened for that purpose, after ten
days of prior notice of such meeting
shall have been published in one of the
daily newspapers of the city of Shreve-
port and copy of said notice mailed to
each stakeholder at his last known place
of residence.
ARTICLE VII.
Whenever said corporation shall be
dissolved by expiration of its charters.
or sooner, by vote of the stockholders,
two lquidators shall be elected by the
stockholders at a general meeting held
after ten days notice, as above pro-
vided These liquidators shall continues
in Office until the full liquidation of the
affairs of said corporation, and in case
lof the death or disability of either or
them, the stockholders may elect sue
cessor, or, if they do not elect a sue
cessor, the powers of both liquldators
shall be vested III the surviving liqui-
dator.
ARTICLE VIII.
No stakeholder of this corporation
shall ever be held liable or responsible
for the contracts or faults of the cor
poration in any further sum than the
unpaid balance due the corporation on
the shares of stock owned BY him nor
shall any informally in organization
have the effect of rendering this char
ter null or of exposing a stakeholder
beyond such unpaid balance, if any.
Done and passed at my office IN the
city of Shreveport, on this the 9th day
of May 1907, in the presence OF J..
c. Pugh and P. f. Townsley, competent
witnesses, and me, notary, the said IN
corporators subscribing for the number
of shares of the capital stock OF TINS
corporation set opposite their names.
H. B. SCOFIELD,
Subscribing for 80 shares
STERLING PALMER,
Subscribing for s shares
H. w. SCOFIELD,
Subscribing for 1 share
Attest.