The Caucasian. (Shreveport, La.) 1900-192?, 1907-08-13

ARTICLE III.

tcorporation 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 ".
he corporate powers of this corpora
ton shall be vested i'll 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, l. r. Lawhon, R. s.
Ayers, F. S. Ayers, J. f. Bell and R.
IT. Lawhon, with Z. r. Lawhon, presi-
dent; N. A. Ayers, vice president, and
+. S. Ayers, secretary-treasurer. All
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 the
vice president, Or in the absence of both
on the secretary-treasurer, at the Office
of the company. The board of directors
may appoint such managers, agents or
sub-oficers as the interests of the cor
lporatlon may require and make and es-
ltabish such bylaws as may be neces-
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 powen 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-hve thousand dollars
ISIS, ooooo) divided into seven hundred
and fifty shares of the par value of one
hundred dollars ($Ioooo) 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. The corporation is
authorized to commence business when
fifty thousand dollars (S5o,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 or of exposing |
stakeholder to any liability beyond the |
amount of his stock
ARTICLE VI.
The directors shall be elected by bal |
lot at the regular annual meeting called |
for that purpose, or any meeting ad
journed from same. At all stockholders
each share of stock shall be en-
titled to one vote, j stakeholder may
vote by proxy. A majority of the stock
holders shall constitute quorum A
majority of the stock present shall elect
directors. Special meetings may be
called at the pleasure of the president
of this corporation at a
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 ourths of the stock repre-
sented at such meeting. This shall not
apply to increasing or decreasing the
capital stock which is done under special
avs. 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
If the stock present shall elect three
iquidators' at the meeting SO determin
ng, and shall provide for filling any pos
'ible vanacies among said liquidators.
In testimony o. the above articles of
in the presence of the at
esting witnesses, and before me, notary,
liz llSOl pOl dtOlS idFC
lereunto set their names.
Done and passed at my office in
Shreveport, Louisiana, this first day of
August A. D. 1907.
l. R. LAWHON.
N. A. AYERS. i
F. S. AYERS.
R. S. AYERS.
J. E. BELL
R. T. LAWHON I
Attest:
T. F. BELL, JR. {
A c. PITTS.
FRANK J. LOONEY,
Notary Public.
State of Louisiana, Parish of Caddo
certify that | have examined the