The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1909-12-11

which authority is given 1t by law ana these |
articles of incorporation; and this Corporation
is empowered to do and perform any other
acts and business incidental and germane to
the objects and purposes herein expressed, |
either ior its own account, or as factor or
agent for others.
ARTICLES
The capital stock of this Corporation is
hereby fixed at the sum of twenty-five
Thousand Dollars (ss5.OOOOO divided into and
represented by Two Hundred and Fifty
shares of One Hundred Dollars $4,000 each,
which capital stock may be increased in the
manner provided by law.
At any time after meeting shall have been
called for the purpose of increasing the CAPT
tai stock of the Company, the shareholders
shall have the privilege of taking additional
shares in the proportion which the shares held
by them bear to the total capital stock Of the
Company prior to such increase, and any
shares not taken by shareholders within ten
days after the capital stock shall have been
increased, at meeting SO specially called for
that purpose, may be disposed Of ny the Board
of Directors for the benefit of the Corporation
at not less than par value. All stock, both
that originally issued and any to be hereafter
issued, in the event that the capital stock of
this Corporation may be increased. shall be
paid for in cash or its equivalent. or in labor
done, or in prOpprty actually received, and
any part or parcel Of said stock may be issued
by the Board of Directors at not less than par
value for labor performed or property actually
received by said Company.
Any shareholder wishing to sell his shares Of
stock in this Corporation shall give the remain
ing shareholders in the Corporation in pro-
portion to their respective holdings the priv
lege of purchasing the shares, at such price as
shall be bona dde offered therefor by any out
slider, which offer shall be in writing. and shall
be accepted or rejected within three days by
the other shareholders.
This Charter shall 20 into effect and this
Corporation be going concern as soon as
Twenty-Five Thousand Dollars of stock shall
have been subscribed and paid for. No stock.
holder shall ever be held liable or responsible
for the contracts. faults or debts of this Cor.
poratiOn, nor shall any mere informality in its
organization have the effect of rendering this
Charter null or Of exposing any shareholder to
any liability beyond the unpaid balance due on
the stOck owned by him.
ARTICLE s.
The corporate powers of this corporation
shall be vested in and exercised by Board of
Directors. each of when shall own at least
Twenty-Five shares in his own name they shall
elect from among their number President, a
Vice President, a Secretary and Treasurer.
The said Board shall consist of four direc-
tors, a majority of whom shall constitute a
quorum to transact business
The Directors shall be elected annually by
ballot by the stockholders. at the ONCE of the
Company. on the First day in the month of
February Of each year. Each SharehOld
shall be entitled, either in person or by written
proxy. to one vote for each share of stock
held by him; and such election shall be held
under such rules as may be provided by the
Board of Directors.
majority OF votes cast at such election
shall elect.
In case of failure to hold the annual meeting
on the date provided in this Charter, or 10
elect directors at such meeting on the day
called. or on any subsequent day to which such
meeting shall be adjourned. this Corporation
shall not thereby be dissolved, but the then
Directors shall continue in office, and a new
election shall be held, TO be preceded by ten
days notice. as hereinabove provided.
Should any vacancy or vacancies occur
among the Directors or officers of this Com.
pany, the Board of Directors or so many of
them as shall remain, whether a quorum or
not, shall elect person to I'LL the vacancy.
Morris Wolf Emanuel Wolf. Albert j. Wolf
and Alexander H. Moses are declared to be
the first Board Of Directors Of said Corpora.
ton. to serve until the first day of February.
1911. or until their successors shall have been
elected and qualified with Morris Wolf as
President Emanuel Wolf as Vice. President,
Albert j. Wolf as Treasurer and Alexander
H. Moses as Secretary.
The said Board of Directors shall make and
establish as well as alter and amend any and
all bylaws, rules and regulations for the gov.
eminent of said Corporation; and authority is
given said Board to do and perform. and to
embody in such bylaws. rules and regulations,
all the rights and powers granted to such cor.
pOratiOn by the laws of this State and not re.
pugnant to these articles of incorporation.
ARTICLE G.
This Charter may be modified, changed, or
altered, or said corporation may be dissolved
with the assent of three.fOurthS of the stock
represented at general meeting of the
stockholders convened for such purpose after
ten days previous notice shall have been given
each stakeholder addressed to his residence
as it appears on the books OF the Company
ARTICLE
Whenever this Corporation may be dis.
solved either by limitation or from any other
cause its affairS shall be liquidated by Two (2)
stockholders, who shall be appointed as com.
miSSiOnerS of liquidation, at q general meeting
| of the stockholders, to be convened for such
purpose, after ten days previous notice shall
have been given by mail to each stakeholder
addressed TO his last known place OF residence
| as it appears on the books of the Company;
said commissioners shall remain in ONCE until
after the affairs Of the Corporation shall have
been fully settled and liquidated. In case of
| the death OF, or resignation of one or more OF
| said commissioners, the vacancy shah be filed
by the survivor or surviving commissioners.
Thus done and passed at my ONCE in the
| Town of st. Francisyle Louisiana. on the
day. month, and year first above written in
the presence of VIM Kahn and JOS Aschanen.
berg, competent witnesses who sign hereuntO
their names together with the appearers and
me, Notary, after due reading Of the whole.
NORRIS WOLF,
EMANUEL WOLF,
ALEXANDER II. MOSES.
ALBERT ]. WOLF.