The herald. [volume] (New Orleans, La.) 1905-1953, 1911-07-20
ARTICLE V.

All the corporate powers of this corpora
tiOn shall be vested in and the management
and control of its business and affairs con-
Quoted by "A board of directors. composed of
not less than three and not more than five
stockholders. three Of whom shall constitute
a quorum no member of said board TO own
ar subscribe for less than one share Of stock.
Said directors shall be elected by bal
lot at a general meeting of the stock
holders on the second Monday of Sep
TENDER. 1912, and annually thereafter
on that day. Every stakeholder shall
be entitled, in person or 10y proxy, to one
vote for every share OF stock owned by him
All elections shall be held under such rules
and regulations as may be determined by
said board of directors. Ten days written
notice. directed 10 the last known address Of
every stakeholder shall be given of all cleo
lions.
The directors thus elected shall continue
| in office FOR one year or until their sue
cessors shall have been elected and qualified {;
! any failure to elect officers directors
| shall not be considered a forfeiture Of
| this charter. Any vacancy occurring I'm the
| board Of directors shall be filled by the re-
| naming directors for the uneXDired term.
A majority of the stockholders at meet
| ing shall constitute a quorum for the trans
| action of any business.
Said board of directors shall. at its first
| meeting after its election, elect out of its
own members a president, a vice president
and a secretary treasurer: and said board
shall have the power In Its discretion to
unite TWO or more OUceS. the same TO con-
| fer upon one person. Said board shall have
| the power TO appoint and dismiss such Off
| GERS, agents, clerks and employees as they
may deem advisable and to fix their com
pensatiOn
Said board Of directors is specially vested
with the power and authority to mortgage
or pledge the property, real and personal.
| OF the corporation as they may deem fit and
proper; TO purchase, hold, own, mortgage,
pledge. lease and dispose OF real estate
improved and unimprOved, city or country !:
TO execute mortgages issue notes, bonds and
other evidences of debt, and to borrow and
lend money on same to and from individ-
uals, firms and corporations, at such times
for such prices and upon such terms and
conditions as they may deem advisable. This
power TO buy and sell. mortgage, pledge and
dispose of property, real and personal to
borrow and lend money, execute mortgages,
notes. bonds and other evidences of debt
and all the powers herein granted to said
board OF directors Is to be exercised by them
without the necessity of referring 10 the
stockholders Of the corporation for special
authorization.
said board Of directors shall make all
the rules. regulations and bylaws for the
government control and management OF the
| business and affairs OF the corporation, and
after, amend and change the same at pleas
ure.
No contract shall be signed without the
authorization of the board Of directors
Ihe Following stockholders are hereby
| declared to be the first board Of directors
|
once Tor one year or until their successors
! Shail nave been elected and qualified James
| ~ kourke, Walter V. O'ROurke. James J.
tR0urkc. Albert T.. ORourke
! nth the second Monday Of September
! lHl2, or until their successor shall have
been elected and qualified. the following
| named persons are hereby declared 10 be
! me officers of this corporation: James
! - Rourke. president; James ]. O'Rourke
vice president; Walter V. O'Rourke, secre-
| tary-treaSurer. 'e
ARTICLE VI
| ms corporation shall begin bnSin,ss ,,1
| ne a going concern as soon as ten thonsan5
| dollars OF its capital stock shall have haau
| subscribed and paid for
ARTICLE VII.
| No stakeholder shall eyer no Iiabra mr.
responsible for the contracts faults nr dabts
| nor snail any mere infOrmalitv in its or
SanIZauon nave the effect of rendering This
charter null or of eXOSing auy StockhoIder
! 10 any liability. beyond the unnaid haIanca
que on the shares owned or Subscribed for
ARTICLE VIII.
This act Of incorporation shall he cbanrad
uoIined or altered. or this corporation shall
ne ulSSolVed, with the assent of o-tbirds 90
tne STOCK OF the corporation represented ar a
general meeting called for that burmese and
AFTER at least ten DAYS written NOTICE az
rected TO the last known addrass "a - w.