The herald., 1911-01-05
ARTICLE V.

" DeSIu business at once.
ARTICLE V.
All Of the corporate powers Of this cor
pOration are hereby vested in, and shall be
exercised by a Board OF Directors, to con.
sist OF five stockholders, three of whom
snail constitute a quorum for the tranSac.
ton OF all business. The said Board of ii
rect9rs shall be chosen annually by tie
stockholders, at a meeting held on the sec
ono tuesday OF the month of January, 1912
and annually thereafter on the same day,
or until their successors have been duly
elected. the nrst Board Of DirectrOs shall
consist OF Fritz Salmen, Charles ID. Stew
art, Leon c. Weiss, Emile We'll, l.. A. Lvau.
dals, VINO shall serve until the election Of
their successors.
Each Board OF Directors shall appoint
from their number a President and Vice
President; said Board of Directors shall ap-
point also, from their number or other per
sons, Secretary, Treasurer and General
Manager, any OF which three latter Offices
may be combined in the same person should
the Board of Directors deem it advisable
All officers above mentioned shall hold their
Offices during the life of the Board of Direc-
tors appointing them.
vacancies in the membership of the
Board OF Directors, or in said offices, shall
De nlled by appointment of the remaining
members OF the Board of Directors.
The following persons shall constitute the
officers of the company during the life of
the first Board Of Directors Fritz Salmen,
President; Leon c. Weiss, Vice President
l.. A. Livaudais, Secretary; c. d. Stewart,
Treasurer and General Manager
Meetings of the Board OF Directors shall
be held at. the office of the Company at New
Orleans, at such times, and upon such no
ice, as may be fixed by the said Board Of
Directors, or the President Of the company
The Board of Directors shall also appoint
all such other officers, agents or employees
as the business of the company may require
or may confer such rights Of appointment
N a rar nf han
All salaries shall be fixed by the Board
OF Directors, or by the General Manager,
in case of persons employed by him under
authority of the Board.
The Board of Directors shall also have
the right to confer any of It's powers upon
an executive committee, agent or represen
tative, or other person, as it may deem
advisable.
ARTICLE VI
All meetings Of stockholders, for any pur
pose whatever, whether special or general
shall be held in the City of New Orleans
La, after ten days notice mailed to the
last known address Of each stakeholder II
such meetings stockholders shall be entitled
TO one vote for each share of stock owned
by them, In person or by proxy; provided
that stock can only be voted in the names
of stockholders who shall be the record
owners of the stock, shown upon the
books OF the company, at least thirty l30i
days in advance of the meeting at which
said stock Is offered to be voted. Said no.
tice of meeting shall be issued by the Sec
rotary of the Company by authority of either
the Board of Directors or President of the
company.
ARTICLE VII.
This charter may be changed, altered or
amended or this corporation be dissolved
by a vote of two-thirds of the outstand!ng |
capital stock, present or represented at a
meeting called for that purpose, after notice |
Of said meeting shall have been given as
above provided
In case the organization be dissolved, the |
same meeting shall appoint three liquidat tors
to settle the affairs of the company, who |
shall as rapidly as possible pay all out |
standing debts, sell the property for cash,
Or otherwise as they may deem advisable or |
IS may be directed by said meeting OF
and divide the proceeds among
the stockholders, according to their re-
'pective interests.
On all other questions excepting those
mentioned in this article a majority of the
,apital stock voting at any meeting shall
control the action Of the company.
ARTICLE VIII.
No stakeholder of said corporation shall
ver be held liable or responsible for its
or faults, or those of any of IT'S
gents or employees, in a greater sum than
he unpaid balance due by them on sub
criptions to the capital stock of the CON-
amy; nor shall any informality In organl-
alton have the effect OF rendering this
harter null, or exposing a stakeholder to
ny liability beyond the amount due on his
Inscription to the capital stock of the
The names hereto subscribed shall form
he original subscription list.
Thus done and passed In my Office, on the
ay, month and year first above written, in
he presence of Messrs. T. A. Schuber and
os. Helm, competent witnesses who have
ereunto subscribed their names, together
co and vNnNn
er a due reading Of the whole.
Original signed: +. Salmen, shares,
500; j. A. Salmen, per pro +. Salmen, 5
hares, $500; Thos. W. Lewis, shares,
500; c. ID. Stewart, 152 shares, SIS, 200
!. A. Livaudais, 10 shares, $1,000; Leon
:. Weiss, 10 shares, $1,000; Emile Well,
o shares, $1,000.
Witnesses: T.. A. Schuber. Jos. Helm.