The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-10-29

erGy, OOtn real, personal anu mlXeO, 10
make and appoint such managers, di-
rectors and officers as the interests and
of said corporation may
and to make and establish such
bylaws, rules and regulations of the
affairs of said corporation as may be
necessary and proper, and the same to
change and alter at pleasure.
ARTICLE II.
The domicile of this corporation shall
be in the town of Benton, Parish of
Bossier, State of Louisiana, and all cita-
tons and other legal processes shall be
served on the President of this corpora
ton, and, in the event of his absence,
upon the Secretary Treasurer thereof,
and in the absence of both of the above
named officers, upon any person duly
authorized by the Board of Directors to
accept service or process.
ARTICLE III.
The purposes for which this corpora
ton is established and the nature of the
business to be carried on by it are de-
clared to be: The construction of dirt
works, such as building levees, roads,
grading streets, railroads and any other
work of a like nature, etc.
ARTICLE ~.
The capital stock of this corporation is
hereby fixed at the sum of Fifty Thou
sand Dollars ($5O,0OO divided into Five
Hundred (5O0) shares of the par value of
One Hundred Dollars ($10O) each. Said
stock may be paid for in cash or in prop
erty, labor or services, made over to or
rendered to said company, cash sub
scriptions to be paid for in such amounts
and at such times as the Board of Di-
rectors may prescribe. All shares of
stock shall be full paid and nonassess-
able, and transfers Of stock shall not be
binding upon the company unless re-
corded upon its books. This corporation
is to be going concern as soon as five
thousand dollars ($5, 0OO of the capital
stock has been subscribed for. If any
stakeholder shall ever desire to sell his
stock in this corporation he shall first
give written notice of such intention to
both this corporation and the stock
holders thereof for the full term of thirty
days giving notice of his intention to
sell such shares of stock, and if after the
lapse of said thirty days notice, this
NOA A0SkVllS VI 0L0AVAO1OVAo VuCAOO1S
or any Of them, do not purchase the said
shares thus offered at the bona fide
prices obtainable elsewhere, then the
said shareholder offering to sell said
shares shall have the right to sell said
shares as he sees fit and to whomsoever
he sees fit.
ARTICLE v.
ALI the powers of this corporation, ex-
cept such as are specially herein vested
in the President, shall be exercised and
performed by Board of Directors to be
composed of three stockholders, any two
of whom shall constitute q quorum for
the transaction of the business of this
corporation. The Board OF Directors
shall be composed of the following
officers, namely: The President, the
Vice President and one stockholder.
The first Board of Directors shall be as
follows: w. E. Ivey, as President;
w. H. North, as ice-President and
Manager, and A. G. Slagill, as Superin-
tendent and Assistant Manager. The
Secretary Treasurer of this corporation
is hereby declared to be Norwood M.
Belcher. He shall hold Office until the
next Board of Directors shall elect his
successor.
The said Board of Directors and
officers shall hold Office until the third
Monday in August, 1909. The Board OF
Directors and officers shall be elected
annually, on the third Monday in
August, 1909, and on each third Monday
in August thereafter, after ten days
notice addressed to each stakeholder in
writing. All directors shall hold office
until their successors are elected and
qualified. All such elections shall be
by ballot and shall be conducted at the
Office of this corporation, under the
supervision OF three commissioners APP
pointed by the President. Each stock
holder shall have one vote for each share
of stock standing in his name on the
books of this corporation, to be cast in
person or by proxy, and majority OF
votes cast shall elect. Any vacancy
occurring among the directors by death,
resignation, or otherwise, shall be filled
by election for the remainder of the term
of Office of the Board of Directors by the
remaining directors. A failure to elect
directors on the date fixed above for the
election of directors shall not dissolve
this corporation, but the Board of Di-
rectors and officers then in Office shall
hold Office until their successors are
elected and qualified. Each director
shall own at least one share of stock.
All checks shall be signed by the Presi-
dent, as well as all notes, drafts, con-
tracts and obligations of this corpora
ton. The President of this corporation
shall be charged with the full power to
orro1nk c,pAh a$$Snoync nj
employees as the business Of the company
may require, and the same to dismiss at
pleasure. The said Board of Directors
shall make and establish such bylaws,
rules and regulations as they may deem
necessary, and the same to alter and
amend at pleasure. The Superintendent
shall furnish or cause to be furnished
and presented to the President, at such
times as he may require, a detailed
statement of the business and affairs OF
this corporation of the current month,
The Board OF Directors shall have power
to issue full paid shares of stock in this
corporation for cash, or in payment fol-
labor done, or for property actually re-
ceived by this corporation. Each di-
rector shall have the right to appoint a
proxy to represent him at the meetings
OF the Board of Directors.
ARTICLE vi,
This act of incorporation may be
amended in every particular, except as
to the increase or decrease of the capital
stock or number of shares (Which must
be done as required by law at a meeting
OF the stockholders called specially fol
that purpose after ten days. notice
thereof shall have been given each