The herald., 1911-04-27

each year, commencing in the year 1912
under the supervision OF three stockholders
| appointed for that purpose by the board OF
directors. Each director shall own in his
| own name or in that of firm whereof he
| may be member, at least five shares OF
the capital stock of said corporation during
| his term OF office.
Ten days previous notice In writing or
prlnt shall be given each stakeholder of ca oh
| election or meeting OF stockholders, to be
delivered unto each person or sent through
| regular ordinary mail TO the last known
post once address of any stakeholder.
At all elections or meetings each stock
holder shall be entitled TO one vote. TO be
east by the owner, either in person or by
PtoAy, Iot each share or stock owned by
him or by firm of which he is a member
ana a majority OF the votes cast shall elect
and decide. Three directors shall consti-
| tute a quorum for the transaction of bust
ness and the board Of directors may make
and adopt or change and amend at their
pleasure all such bylaws rules and regula-
lions as they may from time TO time deem
necessary for the conduct and management
| OF said business and moreover shall have
fun power and authority to contract debts
Dorrow money, issue notes, bonds and other
obligations and authorize issuance thereof
| IN me name OF and on behalf of said cor
poratlOn and secure payment of same by
mortgage or pledge Of its property ANY
vacancy occurring in the board of directors
from any cause shall be filled by the re-
naming directors, but any such directors
elected TO NIL vacancy shall possess in his
own name or own In the name of firm of
which he Is member, the hereinbefOre
mentioned shares OF capital stock of said
corporation.
At their first meeting following each an
nual election the board of directors shall
elect one of their number TO be president,
one 10 be vice-president and another to be
treasurer OF said corporation. A failure TO
elect directors on the date specified shall
not dissolve this corporation but the direc-
tors and officers thereof then in office shall
continue 10 act as such and cause the cleo
ton to be held as early as practicable
thereafter upon notice TO stockholders as
above prescribed. In case of absence of
any director from the city OF New Orleans
or In case of sickness or other disability of
said director, he shall have the right TO
name and appoint in writing any other
stockholder having the aforementioned num-
Der or shares or qualifications concerning
STOCK, 10 act for and represent him in said
representative capacity as a director dur
ing his absence or sickness or disability
MeSsrs: John 5. De Ben. Carl Schneider
George A. Watson. Charles Reynolds and
Adam L. Rau. with the said John s. De
president, and George A. Watson as treas
urer, have been chosen and selected as the
hrSt board or directors and officers of this
corporation, to remain and serve as such
until the third Tuesday in March. 1912, or
until their successors are duly elected.
ARTICLE V.
No stakeholder shall ever be held liable
or responsible for contracts or faults of
this corporation in any further sum than
the unpaid balance due on the shares of
stock owned or held by him or his firm
therein, nor shall any mere informality in
organization have the effect of rendering
this charter null or of exposing a stock,
holder to any liabilities beyond the amount