The herald., 1911-11-09
ARTICLE V.

"All the corporate powers OF said cOrpOr-
alton shall be vested in and exercised by
Board OF Directors to be composed Of five
To- persons. TO be elected annually on the
first Monday in January In each year, ex-
cept the first Board Of Directors as consti-
tuted by Article IX Of this charter as here
matter changed and modified
The Board OF Directors named In Article
TX OF this charter as modified and changed
shall hold their offices until the first Mon
day In January, 1913. There shall always
be two members OF the board representing
the preferred stockholders and three men,
bers Of the board representing the COMMON
stockholders
"All such elections shall he held nv bal
lot and conducted at the office Of said cor
pOration. under the supervision OF three 81
commissioners, to be appointed by the Board
of Directors.
Notice OF such election shall be given
cation for not less than ten G0) days prior
thereto in a newspaper published In the
Parish Of Orleans. State OF Louisiana.
AT all such elections and al all cOrpor-
ate meetings, every stakeholder shall be en-
titled to one vote for each share OF stock
standing in his name on the books Of the
company, 10 be cast in person or by his
written proxy. and majority OF the votes
ANY vacancy among the directors by
death. resignation or otherwise. shall he
filled by election for the rema inder OF the
term by the remaining directors.
"A failure to elect directors on the date
above specified shall not dissolve the cor
pOratiOn. nor impair its corporate manage
ment. but the directors then in Office shall
remain in Office until their successors are
elected and qualified.
THE Board OF Directors shall elect from
their own number President Vice Presi-
dent and SecretaryTreasurer. The Board
shall have power TO divide the offices OF
secretary and treasurer. in which case the
treasurer NAV or may not be a member OF
the board. They may. from time TO time.
name and appoint all such officers and
agents as II may deem necessary for the
purposes and business of the corporation.
They shall have power TO fix and define the
duties of every officer and employe, and all
officers and employees shall hold office and
employment at the pleasure OF the board.
The board may make and establish, as well
as alter and amend, any and all bylaws,
rules and regulations necessary and proper
in its judgment for the conduct, support and
management OF the business and affairs OF
said corporation.
1.-THE board shall have full power and
authority TO borrow money, TO execute mort
cages and TO create liens; to issue bonds,
notes and other obligations, and generally
TO do all things reasonable. convenient and
necessary for the proper carrying on OF the
business OF the corporation.
THE board may issue full paid shares of
preferred stock for cash only at par: and
may issue two hundred and ten (210) shares
of the common stock in exchange for the
present outstanding two hundred and ten
(21O) shares Of the common stock of this
company: the balance Of ninety 900 shares
of the common stock can be issued for cash
only at par
Every member Of the Board of Directors.
in case of his absence from the domicile OF
the company, at any time shall have the
right to naem and appoint, in writing a
proxy to represent him to sit and vote in
his place and name at all meetings Of the
Board Of Directors which may take place
during his absence from the dOmicile Of the
| company"