The herald. [volume] (New Orleans, La.) 1905-1953, 1911-06-08
ARTICLE V.

All the corporate powers of this corpor
atlon shall be vested in and exercised by the
Board OF Directors, composed of five G5S
stockholders, to be elected annually ON IN.
nrst Monday of the month OF May Of each
year commencing on the first Monday of tbe
month OF May, 1913. This said election
shall be by ballot, and conducted under tbe
supervision OF two (2) commissioners 10
be appointed by the Board Of Directors for
that purpose at each election. Thirty l20i
days prior notice must be given by the SOC
retary or the company, in writing 70 each
shareholder. by mailing the same nv reg
lStered mail to the last known address or
place or business, as left by the said share
holder, or shareholders, with the secrator,
OF the company. Each shareholder shall be
entitled 10 cast one vote in person or NV
proxy, Tor each share OF stock owned by
him, and the majority Of votes cast shall
elect. The board thus elected shall sarna
ana continue in Office until their successors
snail nave been duly elected and ouaIifed
Inc failure TO hold an annual meeting or
40 eject directors on the date above speci.
neu' snail not dissolve the corporation but
the then directors shall continue TO hold
ihelr once until their successors shall have
Deen elected, and qualified All vacancies oc.
curing IN said Board OF Directors shall be
nileu Dy a majority vote of the remaining
directors. Three 90 of the directors shall
constitute quorum for the transaction ~
any business. The said Board OF Direo
lots shall make all bylaws, rules and reg.
'NuSS ioL the proper government Of ha
business and affairs Of the corporation and
AFTER ana amend and change the same at
pressure. They shall have full mower to
guy ou ana 10 sell, mortgage, pledge, and lease
poration. except as hereinafter restrictod
whenever In their judgment they deem sncb
acts necessary and proper. They are an.
tihorlzed TO issue bonds and other obliga.
nlUns, ana 10 assume the same for this com
Pany; to grant and acquire all leases. cor
tracts ana agreements, and to perform any
ana all acts necessary to carry out the oh
!ects and purposes for which this corpors.
ton Is formed.
The Board Of Directors shall not mako
any sale OF property, or grant any mort-
gage on same, where the amount OF i3ronertv
10 De sOld, or mortgaged, shall be more than
ohheha az or the entire holdings and owner
snip OF the company, without first ohta inino
! ne consent Of the owners OF at least three
Iourths or the capital stock Outstanding Of
meeting or the stockholders held for that
purpose and the holding Of such a meeting
may be waived and the consent To soil as
mortgage given In writing, provided ali tba
81 S.Ockholders sign said consent or notify the
bOard OF Directors Of their consent IN meLe
sucn SAFE or mortgage. The Board of d. |
70 piro sn al nave nave fnll power and authority
10 hlre, or discharge all officers, agents.
cierks and other employees of said cornor'
tIlon' and TO fix their salary. or WAGES |
ana require any or all Of them to give bond
Tbs su otF amount as the board may deem fit. |
ne otheers Of this corporation shall he q |
presiaent, vice-president, a treasurer and
,eSsretary, and a general manager. All Of
Nnon snail be elected by the Board of Di. |
,i IeIors, at its hrst meeting after its own
Election. The Board OF Directors NAV az
.helr discretion, consolidate any two offices
mo one, Tor such period Of time as II NAV
II may elect as secretary of this COM
Tany a. a person not a stockhoIder therein.
,oratlon shall hold Office until the second
lay OF May In the year of our Lord. one
housand nine hundred and thirteen. and
IheIea,ter until their successors are duly
eeted and qualified, and said hoard shall
onsist Of Victor Won Schoeler, Don Caffery.
Ohm FIR. Prim, John d. Grace and VIM
dcCausland; with DON Gallery, as presi.
ent, victor Won Schoeler, as vice-president
reasurer.