The herald. [volume] (New Orleans, La.) 1905-1953, 1911-10-26
ARTICLE V.

"AI the corporate. powers Of said Corpor-
alton shall be vested in and exercised by
Board Of Directors to he composed Of five
% persons, to be elected annually on the
first Monday In January in each year. ex-
Cept the first Board OF Directors as cOnsti-
tuted by Article IN o: this charter as here
matter changed and modified
The Board OF Directors named in Article
IN Of this charter rs modified and changed
shall hold their offices until the first Mon
day in January. 1913. There shall always
he two members Of the board representing
the preferred stockholders and three mem
hers Of the board representing the common
stockholders
"AH such elections shall he hold nv bal
lot and conducted at the Cficp of said cor
poratiOn. under the supervision " three 90
commissioners, 10 be appointed by the Board
Of Directors
Notice Of such election shall be given
by the secretary OF the company nv publ
cation for not less than ten tl0) days prior
thereto in a newspaper published in the
Parish Of Orleans. State OF Louisiana.
At all such elections and at all cOrpOr-
2tr meetings every stakeholder shall be en-
titled 10 one vote for each share OF stock
standing in his name on the books Of the
company, TO be cast in person or by his
written proxy. and n majority Of the votes
cast shall elect
Any vacancy among the directors bv
death. RESIGNATION or otherwise. shall he
tllei by election for the remainder OF the
term hy the remaining directors
"A failure 10 elect directors on the date
above specified shall not dissolve the cor
pOra ton. nor impair It's coroOratn MANAGE
mcnt. hut tho directors then in Office shall
remain in Office until their SUCCESSORS are
elected and qualified.
The Board of Directors shall elect from
their own number 4 President n Vice prpSi-
dent and a Secretary Treasurer The Board
shall have power 70 divide the offices OF
secretary and treasurer. in which case the
treasurer NAV or may not be member OF
the board. They may, from time TO time
name and appoint all such officers and
agents as ii may deem necessary for the
purposes and business OF the corporation
They shall have power to fix and define the
duties of every officer and emplOye and all
officers and employees shall hold Office and
employment at the pleasure OF the board
The board may make and establish, as we'll
as alter and amend any and all bylaws.
rules and regulations necessary and Droper
in its judgment for the conduct, support and
management OF the business and affairs OF
said corporation.
The board shall have full power and
authority TO borrow money, to execute mort
cages and 10 create lienS to issue bonds,
notes and other obligations. and generally
10 do all things reasonable. convenient and
necessary for the proper carrying on Of the
business OF the corporation.
The board may issue full paid shares of
preferred stock for cash only at par: and
may issue two hundred and ten (210) shares
or the common stock In exchange for the
present outstanding two hundred and ten
t2lO) shares OF the common stock of this
company the balance OF ninety 900 shares
or the common stock can be issued for cash
only at par.
Every member Of the Board of Directors.
in case OF his absence from the domicile of
the company, a any time shall have the
right to naem and appoint in writing
proxy to represent him to sit and vote in
his place and name at all meetings OF the
Board Of Directors which may take place
during his absence from the dOmicile OF the
company