The herald. [volume] (New Orleans, La.) 1905-1953, 1911-01-12
ARTICLE ".

The capital stock Of this corporation is
hereby fixed at seven hundred and nifty
and represented by seventy-hve hundred
G.jOOD shares Of stock Of the par value Of
one hundred dollars tSlOO.OuJ each, and
shall be paid for in cash, or in such amounts
and in such manner as the Board of DireC-
tors may determine; or may be issued full
paid and worcestershire, for property real.
personal or mixed, or for patent rights, or
for services rendered to said corporation.
The stock of this corporation shall be trans
ferabe only upon the books OF the corpora
ton, and no transfer shall be valid until
so made.
All the corporate powers of this corpora
tion shall be vested in and exercised by n
Board Of Directors composed Of not less
than five ~ and not more than seven "a
stockholders Of the corporation, to be- elect
ed annually on the second Monday in Jan
| uary, on and after the second Monday in
January, 1912, at the office of the corpora
tion in this city; and air such elections
shall be 10y ballot, and each share of stock
issued shall be entitled to one vote by the
holder in person, or by written proxy, after
| ten days prior notice of such election and
| Of every meeting of stockholders, shall be-
mailed by the secretary to each stakeholder
| at his last known address ; each stakeholder
shall file with the secretary his address, and
any change therein, and his failure so to
do shall be construed as a waiver Of all
notices. The majority of votes cast shall
| elect. or decide all questions voted upon,
and the directors elected. as above pro-
vided, shall at once elect from among their
number a President. "A Nice-Hresdcnt, and
a Secretary and Treasurer; the last two
Offices may be filled by one person, and the
| party filling either of said offices may or
may not be a member Of the Board of D-
| rectOrS, as the board may determine, and
| each Board of Directors and officers so
| elected shall retain their offices until their
| successors are duly elected and qualified;
| and any failure to elect said directors, or
| officers, at the time fixed, shall not invali-
| date or dissolve this corporation, but it
| shall be the duty of the directors to cause
| able time, after due notices, as above pro-
| yided for.
| Any vacancies occurring in said board
| shall be filled by the remaining directors for
| the uneXpired term.
| The first Board OF Directors Of this cor
pOratiOn is hereby declared to be Mr.. Hen
| ry W. IIlle Walter J. Turnbull Leon Lave
dan, George +. Maier and Pierre A. Lelong,
! Jr., with Mr.. Henry w. Mile as President,
Mr.. Walter J. Turnbull as Vice-President,
and Mr. Leon Lavedan as secretary-treas-
urer; which said board aud officers shall
| retain their respective offices until the sec
Ond Monday in January, 1912, or until their
successors are duly elected and qualih,e ed
said Board OF Directors shall have the
| power to make all contracts for this cor
pOration, and TO appoint such representa-
| tiveS, agents and clerks, and to fix their
compensations, and discharge same at pleas
/ ure; no employee shall be considered as
employed by the year unless so contracted
with in writing; and said board shall de
termine as to what officers shall sign checks,
contracts. etc, for said corporation.
i Three directors shall constitute a quorum
for the transaction Of all business, provided
the board consists of not more than five
directors, and four shall constitute a quo
rum, should said board consist OF more than
, five directors. The number of directors for
: the year shall be determined by the stock
holders at the meeting called for election.