The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1910-08-20

another election shall he held. where
Of ten days prior notice shall he CIV
en- by the Secretary as above.
Any vacancy occurring I'm the board
of directors from any cause whatev-
err. between the election, shall he I'LL
ed hy 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 dttornt v
shall specifically state the purpose
thereof and in what manner and to
what extent the said delegated au-
thority shall he 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 as fully as II the
said director were himself present at
said meeting.
Said board of directors. without
being thereunto 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 be d President. Vice President,
Secretary and Treasurer and Gener-
al Manager. but the office of Presi-
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 by one and the same person.
| In the bylaws of this corporation
the directors may provide for such
other officers us they may deem nee
essary. All of the said officers shall
he chosen by the board of directors
at its meeting Of the stock holders on
the first Tuesday OF June of each
year.
The following named persons are
hereby designated to ill said offices
until the election and qualification of
their successors on the first Tuesday
in June, 1911. to-wit: Il. q. Hart.
President and General Manager; G. j .
Behrens, Vice President; X. q. Hart,
Secretary and Treasurer.
| The powers and duties OF said off,
GERS shall be such IN are customary
enjoyed and exercised by those hold
he prescribed by the bylaws Of said
corporation.
ARTICLE VII.
Certificates OF the capital stock
shall he executed by the President
and Secretary under the seal of the
corporation.
No certificates shall be issued until
the stock evidenced thereby shall be
fully paid. Certificates of stock may
be transferred ON the books of the
company under such terms and con-
ditions 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 itssSecretary. shall have
the same force and effect as II passed
at any general or special meeting of
it's Stockholders.
ARTICLE TX.
Whenever the said corporation is
dissolved. either by limitation or
from any other cause. it's affairs
shall be liquidated by three 81 CON-
missioners to he appointed from
among the stockholders at q general
meeting OF the stockholders cOnveu-
ed Tor that purpose, after thirty (30)
days prior notice by publication in a
newspaper published I'm the parish
OF Grant, and with an assent of a
majority Of the capital stock. The
said commissioners shall remain In
office until the affairs OF the corpora
ton shall have been fully liquidated.
and In case of the death Of one or
more OF the commissioners the sur
vivor or survivors shall elect a sue
cessOr or successors among the stock
holders. The compensation tn he
received by the said commissioners
shall be fixed by the stockholders at
the time Of their appointment.
The said commissioners shall have
full power and authority to collect
| any and all monies. obligations. bills
and accounts due said corporation
aud receipt for the same; to sell at
public sale after legal advertisement
by publication in at least one news
paper published In the parish of
Grant and State of Louisiana. any
and all the assets of said corpora,
tion. whether movable or lmmov.
able, and upon such terms and con-
ditions as they may deem proper,
and to execute and give a valid title
therefor, without the Intervention OF
court of justice and without being
thereby empowered. Provided that
with the consent of all the creditors
and all the stockholders the assets
of said corporation may be sold by
said commissioners at private sale
upon such terms and conditions as
said commissioners may determine;
to pay the debts Of said corporation
and distribute the residue of the
funds which may remain In their
hands among the stockholders IN
proportion to the interest of each.
and to make Il final report OF their
acmtnistration at a meeting of said
stockholders to be called by the said
commissioners or by the STOCKHOLM
ers themselves, In the event of the
fa ilpra of sus:h saaisssi