The herald., 1911-10-19
ARTICLE V.

ARTICLE V.
"All the corporate powers OF said corpOr-
alton shall be vested in and exercised by a
Board or Directors TO be composed OF five
90 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
IN or this charter as modified and changed
day In January, 1913. There shall ALWAYS
he two members Of the board representing
the preferred stockholders and three mem
hers OF the board ron"aSnnting the CONN, on
stockholders.
"All such elections shall he held nv bal
lot and conducted al the office OF said cor
poration: under the supervision OF three (3)
commissioners, 10 be appointed by the Board
OF Directors.
Notice OF such election shall he given
by the secretary OF the company bv publi-
cation for not less than ten (1Oi days prior
hereto IN newspaper published in the
Parish OF Orleans, State OF louisiana
AT all such elections and at all cOrpor-
ate meetings, every stakeholder shall be en-
tilted 10 one vote for each share OF stock
standing in his name on the books of the
company, TO be cast in person or by his
cast shall elect
Any vacancy among the directors by
death, resignation or otherwise shall he
filled by election for the remainder 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 a President a Vice PreSi-
dent and Secretary Treasurer The Board
snail 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 IL may deem necessary for the
purposes and business OF the corporation
duties Of every officer and employe, and ali
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
authority to borrow money, 10 execute nort-
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 (210D shares
or the common stock in exchange for the
present outstanding two hundred and ten
(2lO) shares of the common stock of this
company; the balance of ninety 900 shares
or 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.
proxy TO represent him 10 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