The herald. [volume] (New Orleans, La.) 1905-1953, 1911-06-01
ARTICLE v.

All the powers Of this corporation shall be
vested in and exercised by the board or d.
rectors composed of seven stockholders, any
four OF whom shall constitute quorum IoI
the transaction OF business. The said board
of directors shall be elected annually on the
last Wednesday In January or each year.
The first election to be held In the year
1912.
All elections shall be by ballot at the
Office of the corporation under the super
vision Of three commissioners to be appoint
ed by the board of directors, and In the alb
sence of any commissioner, the president
shall have the power to fill the place by
appointment and Of all such elections as
we'll as meetings of stockholders, except for
the purpose OF liquidation or dissolution. or
as otherwise required by law, ten days no
tice shall be given by mailing to each stock
holder who appears as such upon the books
OF the company at his last designated al
dress or TO the General Delivery at New
Orleans, II he has not designated an ad-
dress, an announcement stating the time
and the place of the meeting. Each share
holder shall be entitled to one vote for each
share Of stock standing in his name on the
books Of the company, cast In person or by
proxy, and the majority OF the votes cast
shall elect. The board of directors shall
have the power to fill all vacancies that may
occur on the board. Failure TO elect direc-
tors in the day above specified shall not dls,
In Office shall remain In office until their
successors are elected, and qualified.
Due notice of another election shall forth
with be given, as above provided. Such no
tice OF election shall be continued to be
given until an election is held. The board
Of directors at the first meeting following
an annual election shall elect from their
number a president, a vtce-president, a sec
stockholders, and such other officers as the
board shall deem necessary. The board
| shall have the power In Its discretion TO
unite two or more Of the above or other
h. In mt
person. and shall have the power to fix the
salaries Of all officers and of such other ON
GERS as they deem necessary. The baord OF
directors shall have the power to make and
establish as well as alter and amend all by.
laws, rules and regulations necessary and
proper for the support and management OF
the business and affairs Of this corporation,
not inconsistent with its charter.
The said board shall also have full power
and authority to borrow money through the
president or some other duly authorized
| agent or agents to execute mortgages and
| issue notes, bonds or other obligations In
nad S on as
generally to do all the things necessary fol-
i the proper carrying on of the business OF the
said corporation; as also to issue and de
other obligations of the said corporation ir
| payment of the money borrowed or money
| labor, services, property or rights actually
received by the said corporation, as hereto
Of directors, any director absent from tn,
meeting may be represented by any othe
director, who may cast the vote Of said ab
sent director. according to the written In
structions of the said absent director. TIL
board Of directors shall have the power, b.
vote of not less than four directors, t
sell. lease, mortgage tby bond mortgage o
otherwise), or to pledge any or all Of tn
property, movable and immoyable belonging
to the corporation, or to receive In ex
change therefor, money or stocks or bond
or other obligations OF another corporation
without referring to the shareholders 70
the power to do 80. And they may ais
purchase for stock 10 this company or 20
cash or on credit, property Of any kind re
quired for any of the purposes of the cor
poration, without authority Of the share
holders.
/. Until the next meeting to be held undo
this charter, or until their duly qualifie
successors are elected and installed. tn
board of directors shall be composed Of
George II. Smith, H. B. Hearn, =. p. Tatum
D. Miller, w. Brewer, A. J. Chapman an