The herald., 1911-08-24

of directors " '"' 'o"iu
Said corporation shall commence business
ana become going concern SO soon as
ten thousand dollars of the capital stock
snail nave been subscribed for.
ARTICLE V.
All the corporate powers Of this CORPORA
ton shall be vested in and the management
and control Of its affairs shall be exercised
| py BOARD or i've directors, composed of
stockholders, majority OF whom shall
constitute quorum for the transaction
OF al, business. The directors shall be
elected annually by ballot Uy the stock hold
ers, on the second Tuesday of January OF
each year Each stakeholder shall be en-
tlued 10 one vote for each share of stock
n neid h. ana owned by him, either in person
after ten days prior notice by mail shall
nave Oeen sent TO each stakeholder at his
last known address. Failure TO elect direc-
tors on the date specified shall not act
as forfeiture of this charter but the di-
| rectors then in office shall act until their
| successors shall have been duly elected and
qualified. Any vacancy occurring on said
board from any cause shall be filled by
the remaining directors for the uneIpired
| term.
Immediately upon the signing of this
charter the stockholders shall meet and
eject hve directors who shall serve until
the election OF their successors, to be held
| as herein provided.
odi u bodIu pI directors, ana all succeed
| ing boards, shall, at their first meeting
elect from their number a president, vice
president and secretary. The directors
OF TINS corporation shall have the right
10 appoint and dismiss such clerks, man
/ ayers and other employees OF the corpora
ton as conditions may justify or the bust
ness or the corporation require. The tenure
OF office of all employees Of the CORPORA
ton shall be during the pleasure Of the
| board of directors. ANY OF the directors
shall have the right TO appoint by written
| instrument another director or stakeholder
to act as his proxy and in his stead at any
and all meetings of the board OF directors.
ARTICLE vi.
This act of Incorporation NAV be
| changed, modified, or altered. or this cor
p0ration may be dissolved, with the assent
of three-fourths Of the capital stock pres
ent, or represented, at a general meeting
of the stockholders convened for that pur-
pose after ten days prior notice of such
ton in one of the daily newspapers three
| times during said ten days
ARTICLE VII.
| Whenever this corporation is dissolved
either by limitation OF its charter or from
! any other cause, its affairs shall be liqui-
! dated by three commissioners TO be elected
/ from among the stockholders, at a general
meeting OF the stockholders convened for
| that purpose, after thirty days prior no.
| llce OF Sal0 meeting snail nave been given
| by publication In one OF the daily news
papers published in this citv once a week
| during said thirty days. Said commission
ers shall remain in office until the affairs
/ liQuldated. In case Oh the death OF either
4 Of said corporation shall lave been fully
Of said commissioners, the survivors shall
continue to act.
| ARTICLE VIII
| No stakeholder OF this corporation shall
| ever be held liable or responsible for the con-
tracts or faults thereof, In any further sum
than the unpaid balance due TO the corpora
| tiOn on the shares owned by him, nor shall
any mere informality In organization have
| the effect of rendering this charter null,
nor of exposing a stakeholder to any liabil-
| ity beyond the amount of his stock.
| Thus done and passed in my nOtarial Of
fee at New orleans aforesaid, in the pres
| ence Of William A. Wenck and Edgar G..
| Gould competent witnesses of lawful age
and residing in this city, who hereunto sub
scribe their names together with said par
| ties and me, notary, on the day and date
set forth in the caption hereof.
| Original signed) -
| (SUBSCRIBERS.)
| WM. A. WENCK.
/ EDGAR G. GOULD.
| wM. RENAUDIN.
| Notary Public.