The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1910-07-23


OF ten days prior notice shall he CIV
en- by the Secretary az above.
Any vacancy occurring In the board
OF directors from any cause whatev-
err. between the election, shall be FILL
ed by the remaining directors
Should any director. for any reas-
on. he prevented from attending a
meeting of the board, he may give
his proxy or power of attorney.
which proxy or power of dttorne y
shall specifically state the purpose
thereof and In what manner and to
what extent the said delegated au-
thority shall be exercised. and the
person acting under said proxy or
power of attorney shall. within his
power. represent the said absent d.
rector In all RESPECTS az fully as If the
said director were himself present at
said meeting.
Said board OF directors. without
being tbereuntO specially authorized
by the Stockholders, shall have full
power to mortgage the property of
the corporation and to issue notes
or bonds under the said mortgage.
ARTICLE vi.
The officers of this CORPORATION
shall he PRESIDENT. Vice President,
Secretary and Treasurer and Gener-
al Manager. but the office of Prcsi-
dent and General Manager may he
consolidated at the discretion of the
board of directors. and the offices of
Secretary and Treasurer may he fill
ed 10y one and the same person.
In the bylaws Of this corporation
the directors may provide for such
other officers MS they may deem nee
essary. All of the said officers shall
lie chosen by the board Of directors
at its meeting of the ut ock holders on
the first Tuesday of June of each
year.
The following named persons are
hereby designated to fiji said offices
until the election and qualification Of
their successors on the first Tuesday
in June, 1911. to-wit: Il. O. Hart.
President and General Manager; G. J.
Behrens. Vice President; X. q. Hart,
and Treasurer.
The powers and duties OF said off,
GERS shall be such as are customary
enjoyed and exercised by those hold
ing like POSITIONS. and such as may
lie prescribed by the bylaws of said
ARTICLE VII.
Certificates of the capital stock
shall be executed by the President
and Secretary under the seal OF the
corpora ton.
. No certificates shall be issued until
the stock evidenced thereby shall he
fully paid. Certificates of stock may
he transferred on the books of the
company under such terms and con-
Ilitions as the bylaws shall provide.
ARTICLE VIII.
Any written resolution signed by
all the owners Of all the stock Of the
said corporation and spread at
length ON the minutes of the said cor
poration 10y it's Secretary, shall have
he same force and effect IA II passed
ut any general or special meeting of,
It's stockholders.
ARTICLE TX.
Whenever the said corporation is
either by limitation or
from any other cause, it's affairs
shall he liquidated by three 81 CON-
Inissioners to I've appointed from
among the stockholders at a general
of the stockholders conven-
I'd for that purpose. after thirty (3O)
days prior notice by publication in a
newspaper published in the parish
Df Grant, aud with an assent of
majority of the capital stock. The
aid commissioners shall remain in
office until the affairs of the corpora
ton shall have been fully liquidat ted,
and In case of the death of one or.
more OF the commissioners the sur
vivOr or survivors shall elect n sue
,essOr orsuccessors among the stock
holders. The compensation to be
received by the said commissioners
shall he fixed hy the stockholders ut
The time of their appointment.
The said commissioners shall have
ull power and authority to collect
any and all monies. obligations. bills
md accounts due said corporation
iirl receipt for the same; to sell al
public sale after legal advertisement
~ publication In at least one news
paper published In the parish of
irant and state of Louisiana. any
md all the assets of said corpora
ion. whether movable or immov-
,l'Ie, and upon such terms and con-
iitions as they may deem proper.
tnd to execute and give valid title
therefor. without the Intervention of
| court Of justice and without being
hereby empowered. Provided that |
With the consent of all the creditors |
md all the stockholders the assets |
II said corporation may he sold by |
aid commissioners at private sale
lpon such terms and conditions az
aid commissioners may determine; |
o pay the debte Of said corporation
md distribute the residue of the |
unds which may remain in their
lands among the stockholders IN
to the interest OF each.
md to make final report of their
e administration at a meeting of said
took holders to he called by the said |
commissioners or by the stockhold-
f.s hA In h.x x.v..s~k 80 <h..