The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1908-11-28


100 (si00.O0) Dollars each, which stock
shall be paid for in cash as called for by
the Board of Directors of said company.
or may be issued at not less than par in
payment of property actually received or
same may be issued, fully aid. for labor
done or money advanced to said corpora
ton. No transfer Of stock shall be re-
cogniZed or be binding upon the COM
pany unless made pursuant to its bylaws
and recorded upon the books Of the COM
pany,
This corporation shall commence do
ing business as soon as Six Thousand and
no-100 (s600O O0) Dollars of the capital
stock shall have been subscribed for.
ARTICLE V.
All the powers Of this corporation and
the management and control of its affairs
shalf be vested in and exercised by a
Board of three Directors. composed of
stock holders. majority of whom shall
constitute quorum, and majority of
said quorum shall be sufficient to trans
act business. and their decisions shall be
valid corporate acts.
Any of the Directors shat, have the
his proxy to attend any and all meetings
of said Board of Directors.
They shall elect from their number Il
president, vice-president. a secretary
and treasurer. The following named
persons shall constitute the first Board Of
directors: j. p. Suberbielle, A. j. SUI
herbie.le and Emile Gajan, with j. P.
Suberbielle. as President: Emile GA jan,
as Vice President: and A. J. Suberbielle.
as Secretary Treasurer. They shall hold
office until the second Monday of May,
\. ID. 1909, or until their successors
shall have been duly elected.
No person shall be eligible as director
or officer who is not a stakeholder of this
company.
The Board of Directors shall elect
its officers and shall appoint such agents
and managers as may be necessary, and
Shall fix their compensation.
The said Board of Directors shall make
all by -laws, rules and regulations for the
proper government of the business and
affairs of the corporation, and alter,
amend and change the same at pleasure.
They shall have power to buy, sell.
mortgage, pledge and lease any and all
property, real, personal and .miXea, cor
poreal OF incorporeal, whenever in their
judgment they may deem such acts neces-
sary and proper. and to make all con-
same into effect.
All acts of sale, purchase, lease or
other contracts shall be signed by the
President. or in case of his absence or
inability to act by the President.
ARTICLE vi.
On the Second Monday of May of each
year beginning with the year 1909, there
shall be meeting of the stockholders to
elect directors for the ensuing year.
which meeting shall be called after a
notice published twice in ten days in
one of the weekly newspapers published
in the Parish of ST Mary, State of Louis
lana, and also after written or printed
copy of said notice in the post object
prepaid, addressed to each stockholde,
at his usual place of residence at leasr
ten days before the date fixed for said
meeting: and the Board of Directors
shall appoint one or more stockholders to
preside at such election as commissioners.
In the event of the failure of any COM
missioner or commissioners to attend
the President shall, by appointment, fill
the vacancy.
AT every election and meeting each
stakeholder shall be entitled to one vote
for each share of stock registered in his
name, and may vote by proxy.
The election of directors shall be by
ballot, and the majority in amount of
votes cast, each share of stock voted up
on to be counted for one vote, shall elect
hnr he u
have been cast.
Any failure from any cause whatever
to elect directors the day named for that
purpose shall not dissolve the corpora
ton, but the directors then in office, as
well as the officers of said company, shall
hold over until their successors are
chosen, and any vacancy occurring on
the board of directors from any cause
shall be filled by the remaining directors.
ARTICLE VII.
No stakeholder of this corporation
shall ever be held liable or responsible
for the contracts or faults thereof, in any
further sum than the unpaid balance due
the company on the shares of stock sub
scribed for or owned by him. nor shall
any mere informality in organization
have the effect of rendering this charter
null, or of exposing the stakeholder to
any liability beyond the unpaid balance,
if any, of his stock.
ARTICLE VIII.
This act of incorporation may be modi-
fed, changed, abridged or amended or
said corporation may be dissolved by a
vote of three>fourthso of the stock at gen
eral meeting held for that purpose after at
least ten days written notice in the post
Office, prepaid, addressed to each stock
holder at his usual place of residence,
and in case of dissolution, three commits
sioners shall be elected at said meeting
by said stockholders, and said commits
sioners shall wind up and settle the affairs
of this corporation.