The herald., 1911-04-27
ARTICLE ".

ARTICLE ".
| The objects and purposes for which th
corporation is organized and the nature o
| business to be carried on by it. in the Stat,
| Of Louisiana and in such other states o.
| the United States and in foreign countries
| are hereby declared to be the fOllOwin. to
| wit: To buy, lease or sell. as principal
| agent, or on commission. timber and timber
| lands, and lumber Of all kinds. standing OF
cut manufactured or in its natural state
| to manufacture, out of lumber, slaves. ties
| posts, poles, and any and all other things
| that may hereafter be deemed advisable t
| buy erect, construct, operate and maintain
| or TO lease saw mills, staye manufactures
| and any other character of business. wheth
| er the same be incidental to the manufac
| ture OF slaves or not: to buy, build. con
| Struct, lease and operate tram lines and any
other system or systems OF transportation
| as may be found necessary or advisable IL
the operation of the mills or other proper
| ties OF this corporation; to sell. as princi
pal, agent or on commission, slaves. timber
and such other lumber products manufac
| tured by 1t or otherwise as well as lumber
dressed or undressed, manufactured or un
manufactured, and generally TO engage In
any business whether the same be inciden
tai to that specially stated herein, or not
provided it be not specially prohibited by
law.
ARTICLE V.
The capital stock Of this corporation i.
II
dollars $50, 100000, divided into five hun
dred shares 5000 of one hundred dollar,
(S100.00) each, payable in cash, or its equi
valent, as the Board OF Directors may di.
rect and the corporation is to begin bust
ness as soon as five thousand dollars (s5,.
100000 OF the capital stock has been sub
scribed and paid for. All shares OF stock
shall be full paid and worcestershire. No
transfer OF stock shall be binding on the
company unless recorded upon its books.
and made in pursuance of its charter and
bylaws. No transfer or sale Of stock shall
be made to any person mot already holding
stock In this cOrporation) without previ-
ously offering the same at the same price
to the stockholders of this corporation said
offer to be submitted In writing to the
Board OF Directors, stating the number of
shares offered for sale, the price bona-fids
offered for the same, and the name of the
person making such offer; such option shall
be granted for a period Of not less than
twenty days unless the Board Of Directors
unanimously waive this delay in writing.
ARTICLE VI
All the corporate powers OF this company
and the management and control Of its bus
mess, shall be vested in and exercised by
Board OF Directors composed OF three stock
holders. majority of the directors shall
constitute quorum for the transaction Of
all business. The directors shall be elected
annually by the stockholders on the second
Monday Of March Of each year. Each stock
holder shall be entitled in person or by
proxy to vote for every share Of stock
owned by him, and all elections shall be
held under such rules and regulations as
may be determined by the Board of Direc-
tors.
The Board of Directors thus elected shall
continue in Office for one year and until
their successors have been duly elected and
qualified. Any vacancy occurring on said
board shall be filed by the remaining direc-
tors for the unexpired term. The Board of
Directors shall at its first meeting after its
election, nominate out of its number a pres
tdent, a vice-president, and a secretary
treasurer and these officers shall have such
powers as may be conferred upon them by
the Board of Directors. The Board of Di-
rectors shall have the rigth and power and
shall, from time to time, appoint or dis
charge such clerks and other employees as
may be deemed necessary, expedient and
proper, by them, for the proper conduct and
OF the affairs, business and in
terests of said corporation. Any of the d.
rectors shall have the right to appoint BY
written instrument another director as his
proxy to act in his stead at any and all
meetings Of the Board OF Directors.
ARTICLE VII