The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1910-11-12

WnArVSS LOT Inc IanO1Tg OF vessels ana
for the securing, storing and forward
ing of freight and accommodation of
passengers; to establish and operate
telegraph and telephone lines; to con-
struct or otherwise acquire, maintain
and operate canals for navigation
and to acquire and hold stocks. bonds
or other securities of other corpora
tions owning and operating such ca
| mails; to construct, own and operate
urban and interurban railways with
electric or other motor power, and gem
orally to hold and exercise all such in.
cidental powers generally and privi-
leges as relate to the objects herein
ARTICLE ".
The capital stock of this corpora
ton is hereby declared to be the sum
| of one Million FIVE hundred thousand
by fifteen thousand shares, of the par
value of one hundred dollars each,
which stock shall be paid in cash, or
on such insta1Iments and after such
notices as the board Of directors may
fix, or may be issued IN payment of
labor or services rendered or property
actually received by said corporation.
In case of failure of any subscriber
to pay the installments demanded on
his stock as required, the board of di-
rectors shall have the option, after
thirty days written notice to the de-
linauent, of FORGETTING the stock with
all the amounts previously paid there
on, and no stakeholder shall have the
right to vote while in default for un-
paid installments due on his stock.
This corporation may begin its! buSi-
ness and operations as soon as five
thousand dollars of the capital stock
shall be subscribed and paid for
All shares Of stock shall be fully
paid and non-assessa Bile, and transfers
of stock shall not be binding upon said
company unless recorded upon its
books of transfer
No stakeholder shall be held liable
or responsible for the contracts or
faults of said corporation in any fur
Their sum than the unpaid balance due
on shares of stock owned by him; nor
shall any mere fnformality in erganf-
zation have the effect of rendering this
charter null, or of exposing stock
holder to any liability beyond the
amount of stock subscribed by him.
The subscription and stock books
shall be kept at the domicile and in
the Office of the Company. where cer-
tifieates Of stock shall be issued to the
subscribers. and no transfer of stock
shall be recognized as valid and bind
ing until the same is made upon the
stock books of the Company Stock
books shall be closed for the transfer
of stock thirty days before election
All subscribers to stock and all who
should acquire stock by purchase or
otherwise. shall be deemed members
OF this act of Incorporation.
ARTICLE V.
The corporate powers of said corr
poration shall be vested in and exer-
cised, and the business and affairs of
this corporation shall be managed and
conducted by a board of directors com
posed of nine members. Said directors
shall be elected annually on the first /
Monday of October, .-pr such other day |
as the stockholders at regular or any |
special meeting may fix and all such |
elections shall be by ballot. OF each /
election, ten days prior notice shall be I
given in newspaper published in the
town of Donaidsonvflle, La, and the |
directors thus elected shall serve until
their successors shall have been eloc- /
ted. A majority of the votes cast +
shall be entitled to one vote, either
in person or by proxy. A failure to F
elect directors on the day required /
shall not dissolve the corporation, but I
the board of directors shall continue I
to hold their office and another cleo
tien shall be held within thirty days I
thereafter. and ten days prior notice F
shall be given in newspaper pub
La. Any vacancy occurring in the
board of directors from any cause
whatever shall be filled by election by
the remaining directors. Five directors
shall constitute a quorum for the
transaction OF business.
The board OF directors at the first
meeting in each year shall elect from
their own number president and 9
first and second ce-president and
also elect a secretary and treasurer.
but the same person may hold the of
Ace of secretary and treasurer; and
shall appoint from time to time such
officers, clerks. agents, and confer
power to appoint same and other EN-
nloyees as may be deemed necessary
for the business and purpose of said f
corporation. and dismiss the same at
and shall have fun power to
make and establish, as we'll as change e
or amend or alter eonformably to the.
act of INCORPORATION all bylaws. rules
and regulations deemed requisite for
the control and mana cement of the
2 fairs and business of said corpora
ton; and shall have full power to bor-
row money, execute mortgages. issue
bonds, make contracts. make rules for
the declarations of dividends, and gem
orally to do all things and act in all
matters pertinent to the objects and j
of this corporation; as also
to deliver full paid shares Of this
stock or the bonds or obliga tons of {
this corporation in payment for labor
done or money, or rights in property
actually received.