The Caucasian. (Shreveport, La.) 1900-192?, 1909-11-16

rules and regulations tor the manage
ment of its affairs, and the same to
change and alter at pleasure, and to dc
all other acts necessary to effect the
objects and purposes of this corpora
ton. Said corporation, unless sooner
dissolved, shall exist for the period ot
forty years. The president, or in his
absence, the vice president, shall be pre-
siding officer at all meetings of tht
board of directors, and upon whom cita-
ton and all other legal process shall be
served.
ARTICLE II.
The object and purpose for which this
corporation is established, and the ma
ture of the business to be carried on by
it, are declared to be the purchase OF
lands within or near the incorporate
limits of the City of Shreveport, Caddo
Parish, Louisiana, the plating, subdi-
vision and laying out of such lands into
lots, streets and alleys, the improvement
and sale of said lots, and doing all other
things necessary to enhance the value OF
same and bringing same into public no
tice.
ARTICLE III.
The capital stock of this corporation
shall be fifteen thousand ($I5,ooo. .oo)
dollars, divided into and represented by
one hundred and fifty shares of the par
value of one hundred ($Ioooo) dollars
each, which said stock shall be paid for
in cash, at the time of subscription, and
the same may be issued at not less than
par in payment or exchange for prop
erty Or rights actually received or pur-
chased by said corporation; provided
that no stock shall be issued until the
consideration shall be received by the
corporation. This company shall COM
mence doing business as soon as three
thousand five hundred ($3,5oo.oo) dol
lars of the capital stock shall have been
subscribed No transfer of stock shall
be recognized as valid or binding until
the same is made on the books of the
company, at its domicile.
ARTICLE ".
The corporate powers of this company
shall be vested in and exercised by a
board of directors consisting of three
stockholders of said company. Three oi
said board shall constitute a quorum for
the transaction of business. Provided
that in case of death of any one of the
members of the said board of directors
then, and in that event, two members
of said board of directors shall consti.
tute quorum. The following persons
shall constitute the first board of direc.
tors: H. R. Ratcliff, Carl Svarva, ant
E. R. Ratcliff, and the following mem
bers of the board of directors shall bs
the first officers of said corporation: H
R. Ratcliff, president; Carl Svarva
vice president; and E. R. Ratcliff, sec
retary and treasurer. The said boarc
of directorsAand officers shall continu,
in Office untifNthe 18th day of Septem
Der 1910, on which date and thereafte
annually a board of directors shall b.
elected on the 18th day of September
each year, unless the same shall be
legal holiday, when the election shal
be held on the next legal day thereaf
ter. Notice of such election shall b
given ten days continuous publication
immediately preceding each election, il
one of the daily newspapers in the Cit
of Shreveport, Louisiana. And tn
board of directors shall oppoint one o
more commissioners from among tn
stockholders to preside at such cleo
ton. Any failure from any caus
whatever to elect directors on the da
named for that purpose shall not dis
solve the corporation, but the director
then in office as well as the officers c
said company shall hold over until thei
successors are chosen. In such ever
1.-THE president shall cause another elet
ltion to be held within thirty days, an
shall give notice thereof as heretofor
provided. At every election and NEE
ing of the stockholders, each stocl
holder shall be emitted to one vote fe
each share of stock registered in h
name, and may vote by proxy. Tt
election shal be by ballot, and the m;
iority of votes cast shall elect the PEI
son or persons for whom they ma,
been cast. After each election, ii
board of directors shall elect from the
number the officers of said company.
ARTICLE v.
i The said board of directors shall ha,