The Caucasian., 1911-07-30

ssIl things necessary to be done in
furtherance of such objects and
purposes.
ARTICLE III.
The capital stock of this corpora
ton is hereby fixed at the sum of
one hundred thousand dollars, Ns-
yided into one hundred thousand
shares of one dollar ($i00) each
which shall be paid for in cash or by
the transfer of property or labor or
service performed as may be ap-
proved by its board of directors, and
il shall commence business when
ever ten thousand (Si0,0O00O) dol
lars of capital stock is subscribed
for and paid in full, and all stock is
sued by it shall be fully paid and
worcestershire.
ARTICLE ".
The corporate powers of said cor
poratiOn shall be vested III and exer-
cised by a board of directors COM
posed of five % stockholders. The
following persons shall constitute
the first board of directors, viz: w.
A. Ragan, H. NJ. Russell, q. w. Dav-
export, C.. w. Potts, Joe Smith, with
w. A. Ragan as president, H. NJ. Rus
sell as vice president, q. w. Daven-
port as secretary, and G.. w. Potts as
treasurer. The said officers and di-
rectors shall hold Office until the
second Monday in June A. d. 1912,
or until their successors are duly
elected and qualified. On the said
day of June 1912 and annually there
after, a board of directors shall be
elected, unless said date shall be a
legal holiday, when the said election
shall be held on the first secular day
following the said holiday. Notice of
the said election shall be given by
ten days notice published in one of
the newspapers published in said
parish. The board of directors shall
appoint one or more stockholders to
preside at such election. Any failure
from any cause whatever to hold
such meeting or elect said board of
directors on the day named for that
purpose shall not dissolve said cor
poration, but the directors and of
ficers then in Office shall hold over
until their successors are chosen and
qualified. At every election and
stockholders meeting each stock
holder shall be entitled to one vote
for each share of stock registered
on the books Of the corporation in
his name. Votes may be cast in per-
son or by proxy, authorized in writ
ing. After each election, the board of
directors shall elect from their
the above named officers.
' ARTICLE V.
: This charter may be changed, al
tered or amended Except to increase
or decrease its capital stock, or the
corporation may be dissolved at a
general meeting convened for that
purpose, with the assent of three
fourths (3-4) of the capital stock Of
the corporation represented at such
Ten days prior notice OF
such meeting shall be given by pub
llcation as herein provided for; in
case of dissolution of the corpora
ton by limitation or otherwise, its
affairs shall be liquidated by two
&C mmissioners selected by and from
among the stockholders, at a meet
ing called after due notice, for this
purpose. No stockholder shall ever
be held liable or responsible for the
faults or contracts of the corpora
lion in any further sum than the un-
paid balance due the corporation on
the shares of stock subscribed for
or owned by him, nor shall any in
formality in organization have the
effect of rendering this charter null
Dr exposing a stakeholder to any LA
bility beyond the amount of his
stock.
Done and passed at my Office in
said parish in the presence of J. E.
Allen and F. A. Leonard, competent
who signed these pres
ents together with the said appear
ers and me, notary, after due read
ng of the whole.
w. A. RAGAN.
HY. RUSSELL
G. w. DAVENPORT,
per w. A. Ragan
C.. w. POTTS,
per w. A. RagaEl.
JOE SMITH,
per w. A. Ragan.
Attest:
]. E. ALLEN.
F. A. LEONARD.
S. 0. WILLIAMS,
~ @.N17