The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1909-06-19

| that purpose In the event no such stockholders
annual meeting shall be held aud no election take
place. the officers and board of directors at such
time legally under this charter Ia Office shall
elected In the event where tine date Of the stock
holders annual meeting shall fall upon a legal
holiday then the meeting shall be held ON the
first legal day thereafter.
| Notice of the stockholders annual meeting
shall be given by publication In one newspaper
published at colfax, La. for two weeks within
the thirty days next preceding the date Of the
| meeting. aud also by letter mailed to each stock
holder at his last known postofice address. The
secretary treasurershail cause the said notices to
be published aud mailed.
And II for any cause the annual meeting of the
| stockholders fails to convene the date above
named, it shall be the duty of the President to
publish and mail notice Of the stockholders meet
ing to be held within thirty days of the date of
the regular annual meeting. At every election
each stakeholder shall be entitled to one vote for
each share OF stock registered in his name. Stock
may be voted by proxy. provided the proxy be
held by a stakeholder The officers and directors
shall be elected by ballot of stockholders present
who shall vote one share for one vote MAORI
ty Of such votes shall elect.
This corporation shall commence business
whenever $1,000 of the capital stock is subscrib-
ed for.
ARTICLE FIVE.
The board of directors shall have power to MI
vacancies on said board caused by death, resig-
| nation or otherwise from among the stockhold-
ers. The board OF directors shall have the power
to control the property Of this company. to con-
duct and manage the same to adopt such rules,
regulations and bylaws as the business may re-
quire or as they may EN- necessary aud they
shall have power To contract with such employees
as may he necessary aud shall Tx the amount OF
compensation In wages or salaries, and the,
shall also fix the saar ies of the officers of thin
rctors shall serve without compensation such
The board of directors shall meet whenever mott
fed or called to meet by the president at such
places ms he may designate.
ARTICLE SIX.
This charter may be changed, altered OF
amended, the capital stock Increased or decreas
ed. or this corporation dissolved, at genera
NEE. ing OF the stockholders convened for such
purpose with the assent OF three-fourths Of tn.
capital stock. At such meeting each stockhodeI
shall be entitled to one vote for each share Of his
stock which he owns shown by the books OF
the company, and any stakeholder owning stock
on the books of the company may appoint b,
proxy any other stakeholder to represent hIn
fhe secretary treasurer shall cause a notice o.
such meeting to be published for two weeks IL
one newspaper published at Colfax, La, within
thirty days next preceding the date Of such meet
ing, and he shall also send to each stakeholder
notice by mail provided for the annual meet
ing of the stockholders.
In case of the dissolution or termination OF
this company. either by limitation or otherwise
the liquidation of it's affairs shall be conducted
ty three commissioners selected by the stock
holders from among their number. three-fourths
asserting at meeting called for that purpose IN
the manner above set forth In this article. Said
commissioners shall remain in Office until the
analrs OF this corporation snail nave been July
quidated, and In the case OF the death OF one or
more Of the commissioners, the survivor sur
vivors shall continue to act. and upon the liqui-
dation Of the affairs OF this corporation by the
commissioners they shall be entitled to proceee
by petition in the District Court Of Louisiana al
its domicile. and upon showing to the court that
the affairs OF said corporation have been liqui-
dated they shall be entitled to request of the
court an order homologating their finances ana
distributions, and ask to have the corporation
iudcially dissolved and to be iudicially relieved
of their trust.
ARTICLE SEVEN.
No stockholder Of this corporation shall even
be held liable or responsible for the contracts
faults thereof In any further sum than the unpaio
balance due the company on the shares of STOCK
subscribed for or owned by him. nor shall any
lnformality IN organization have the effect Of
rendering this charter null or Of exposing stock
holder to any liability beyond the unpaid bal
anee II any. of his stock.
Thus done and passed at my Notarial ONCE in
the town of Colfax, parish OF Grant. State Of
Louisiana on this the 9th day of May, A. ID. 1909.
in the presence Of A. b. Perkins and 4. II Comp
ton, competent witnesses of lawful age and resi-
dents Of said town. parish aud state who here
unto sign their names with said appearers and
me said Notary. after due reading Of the whole.