The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-06-18
ARTICLE Ill.


either borrower or lender; and to issue
certificates, negotiable or otherwise, to
persons warehousing goods with the cor
poration, and to make advances On the
security of such goods CT orthrwlse, and
generally to hold and exercise all such
incidental powers and privileges as
relate to the objects herein set forth.
ARTICLE ".
The capital stock of this corporation
shall be $4,000, divided and represented
by 600 shares of S. each, and as soon as
the said amount of stock has been sub
scribed for and $40 has been paid in
this corporation shall be authorized to
begin business, tho stakeholder to own
over twenty-five shares of stock.)
ARTICLE v.
The corporate powers of this corpora
ton shall be vested in Board of Direc-
tors to be composed of five persons, all
of whom must be stockholders in said
corporation, a majority of whom shall
constitute quorum.
The stockholders shall hold regularly
annual meetings, the date of which shall
be fixed by the bylaws of said corpora
holders shall transact any business COM
ing before them, and shall elect Board
of Directors for the ensuing year, all
directors and officers to be elected in
accordance with such rules and regula-
tons as shall be set forth in the bylaws
of this corporation, and all other matters
to be determined in accordance with
said bylaws.
The first Board of Directors shall be
G. T. Mays, President; S. P. Johnston,
Vice President; A. Hoffpauier, Secre-
tary; j. A. Lowe, Treasurer and DR..
l. S. Arnold, who shall hold Office until
their successors are elected.
1t is especially understood that in the
event of failure on the part Of the stock
holders to hold their regular annual
meeting, or for any cause to fail or neg
lect to elect new Board of Directors, it
shall in no wise effect the corporate acts
Of this corporation. The old board
always to hold over until the new board
is elected and organized.
ARTICLE VI.
This charter can be changed, amended
or dissolved by two thirds vote Of the
stockholders at meeting called for that
purpose.
Should this organization become dis
solved by vote of its stockholders its
affairs shall be liquidated by the Board
OF Directors, acting as liquidating
board.
ARTICLE VII.
Shares Of stock can only be trans
ferred by having the transfer recorded
on the books OF the corporation, and no
transfer can be made until any unpaid
balance thereon shall have first been
paid. :
When it is needful that the stock SUBJ
scribed for by the stockholders shall be
paid in the corporation, or any part
thereof, the Secretary and Treasurer
shall give written notice to each SUBJ
scriber of the amount of his subscription
that is called for by the corporation
through its Board Of Directors, and in
case such subscriber fails to pay in the
/ amount SO called for, a written notice OF
which has been given by the Secretary
and Treasurer, then the Board of Direc-
tors shall have the power after said
\ thirty days notice to forfeit the stock
SO subscribed and the amount already
paid by such subscriber who fails to
/ comply with said notice.
/ ARTICLE VIII.
4 The President, or in his absence or in
ability to act the Vice-P President, shall
give each subscriber ten days. notice in
writing, through the mail, before such
annual meeting of the stockholders, and
/ for all call meetings three days. notice
shall be given in the same manner, unless
any stakeholder is present and waive
such notice.
i Any irregularity or informaiity in the
organization OF this corporation shall