The herald. [volume] (New Orleans, La.) 1905-1953, 1911-05-11
ARTICLE V.

All the corporate powers of this corpor
alton shall be vested In and exercised by tn,
Board OF Directors, composed OF five %
stockholders TO be elected annually on tn,
first Monday of the month of May of eacl
year commencing on the first Monday Of tn,
month OF May. 1913. This said election
shall be by ballot. and conducted under tn,
supervision of two (2l commissioners I,
be appointed by the Board OF Directors TO
that purpose at each election Thirty go
days prior notice must be given by the sec
retary OF the company, in writing, to eaci
shareholder, by mailing the same by reg
istered mail TO the last known address Of
place OF business, as left by the said share
holder, or shareholders, with the secretar,
OF the company. Each shareholder shall b,
entitled TO cast one vote In person or by
proxy, Tor each share OF stock owned by
him, and the majority of votes cast shall
elect. The board thus elected shall serve
and continue in office until their successors
snail have been duly elected and qualified
me failure to hold an annual meeting or
TO elect directors on the date above speci.
he'd, shall not dissolve the corporation. but
the then directors shall continue TO hold
their ONCE until their successors shall have
been elected and qualified. All vacancies oc.
curing In said Board OF Directors shall be
MED ny majority vote OF the remaining
directors. Three (3) Of the directors shall
constitute quorum for the transaction of
any business. The said Board OF Direc
tors shall make all bylaws rules and reg.
nlations for the proper government OF the
business and affairs OF the corporation. and
alter and amend and change the same at
pleasure. They shall have full power to
buy and to sell. mortgage pledge. and Iease
any and all OF the property of the said cor.
poratlon, except as hereinafter restricted
whenever In their Judgment they deem such
ACTS necessary and proper. They are au.
thorized TO issue bonds and other ohlIgs-
tons. and 10 assume the same for this corr.
pany to grant and acquire all leases. con.
tracts and agreements and to perform any
anu all acts necessary to carry out the OBJ.
tion is formed
The Board of Directors shall not make
any sale Of property. or grant any mort
gag on same, where the amount OF nronertv
10 De sold, or mOrtgaged, shall be more than
ohe-hait or the entire holdings and owner.
snip or the company, without first ohtoinJr,
the consent Of the owners of AZ least thru
IOurths or the capital stock outstanding M
meeting OF the stockholders held for tha :
purpose and the holding Of such a meeting
may he waived and the consent 70 saII o.
mortgage given in writing, provided ali the a
stockholders sign said consent, or notify ths
board OF Directors OF their consent 10 make
such sale or mortgage. The Board Of nj
reetors shall have full power and authority
10 hlre, or discharge all officers agents
clerks and other employees of said cornor,
atlon, and 10 fix their salary, or wages
ana require any or all Of them to give bond
IN such amount as the board NAV deem Al
ihc ,mttrS OF lhlS corporation shall be a
president, yice-presdent, treasurer and
secretary, and general manager. All of
whom shall be elected by the Board OF nj
reetors, at its first meeting after its own
election. The Beard OF Directors NAV. at
their discretion. consolidate any two offices
INTO one, for such period OF time as il NAV
deem ut. may
II may elect as secretary Of this COM
pany person not a stakeholder therein
The nrst Board OF Directors Of this cor
poration shall hold Office until the second
day OF May In the year Of onr Lord, one
thousand nine hundred and thirSeen. and
thereafter until their successors are duly
elected and qualified, and said board shall
consist OF Victor Won Sehoeler. Don Csfferv
John FIR. Prim, John ID. Grace and VIM
with Don Caffery, as presi-
dent, Victor Won Schoeler, as vice-president
and general manager. and VIM. McCausland,