The Caucasian. (Shreveport, La.) 1900-192?, 1910-03-17

ARTICLE ".
i The purpose for which said corpora
ton is established and the nature of TIL
business to be carried on by it are t
buy and sell timber lands, to manufac
lure, to buy and self lumber, to buy
build and operate saw and planning mills
railroads, boat, barge, telegraph am
telephone lines, and to conduct a genera
merchandise business, and to do al
things connected with or incident to any
or all of said purposes.
ARTICLE V.
Every citation or other legal process:
shall be served upon the president, and
in his absence on the secretary.
ARTICLE VI.
The amount of capital stock of thi:
corporation, which this corporation is
authorized to issue, is fifteen thousand
($15,ooooo) dollars, divided into one
hundred and fifty shares of the par
value of one hundred dollars each. This
corporation is authorized to commence
business as such when one hundred and
fifty shares of the capital stock shall
have been subscribed and paid for. No
certificate of stock shall be issued until
full payment is made thereof, which
may be by money, property, services or
any other valuable consideration NOV
ing to said corporation, and resolution
of the board of directors of this cor
poration that the consideration given
for any stock is fair and adequate shall
be conclusive evidence that it is such,
but no stock shall issue for less than the
par value thereof.
ARTICLE VII.
The board of directors of this cor
poration shall be composed of not less
than three stockholders for the ensuing
year. The board of directors shall have
authority to adopt a set of bylaws for
the regulation of the business of this
corporation, to adopt corporate seal,
to hypothecate or dispose of any portion
of the property of said corporation for
such consideration and on such terms of
payment as it may deem advisable, to
direct and control the officers and en-
ployes of the corporation, to pass all
rules and regulations which it may deem
necessary for the conduct of the affairs
of said corporation.
ARTICLE VIII.
The officers of this corporation until
the first annual meeting of the board of
directors on the second day Of
March 1911, are: w. A. Jones, presi-
dent; R. B. Williamson, vice president,
and ]. B. Stump, secretary, who shall
constitute its first board of directors.
At the end of their term of office, the
officers of said corporation shall be elect
ed by the board of directors. The regu-
lar annual meeting of the stockholders
shall be held on the second day Of
March of each year.
ARTICLE TX.
No stakeholder of this corporation
shall ever be held liable or responsible
for the contracts or faults thereof in
any further sum than the unpaid bal
ance due the company on the shares OF
stock subscribed for or owned by him,
nor shall any mere informally in or
ganization have the effect of rendering
this charter null or of exposing any
stakeholder to any liability beyond the
unpaid balance, if any, due on his stock
ARTICLE X.
In the event of the dissolution of this
corporation by expiration of time, or by
resolution of its stockholders passed in
accordance with law, the stockholders
shall elect from among their number
two hquidators to dispose of the assets
of the corporation, pay its debts and
distribute the remainder of the proceeds
among the stockholders according to
instructions to be given by the stock
holders at the meeting appointing them
When said liquidators shall have com
pleted their duties, they shall prepare
and file process verbal of same, have it
recorded in the mortgage books of Cad
do Parish, and give notice. thereof by
registered mail to each stockholder
Thus done and passed at Shreveport,
Louisiana, in the presence of w. W.
Jones and L. B. Young, competent
witnesses, who hereunto sign as such,
together with said appearers and me,
notary, on the day and date hereinbe-
fore written.
w. A. JONES.
J. B. STUMP.
Attest: R. B. WILLIAMSON.
w. w. JONES.
l. B. YOUNG.