The herald. [volume] (New Orleans, La.) 1905-1953, 1911-01-12
ARTICLE V.

All tho cornorate powers of this corpOr-
alton shall be vested in. and exercised ny
n Board of three directors, who sh III each
he a stakeholder in this corporation. "A ma
iority of whom shall constitute quorum
for the transaction of all business: ana Il
majority vote at any meeting snail ue-
eide all questions voted upon.
Said directors shall be elected annually
from the stockholders on the first Tuesday
of January of each year. after due notice
of said meeting shall have been gwen TO
each stakeholder. sent by mail TO his last
known address, ten days prior TO the said
election held. which said notice, or any
other notice required by this charter may
be waived in writing.
At said election. and at all other meet
ings of the stockholders, the vote shall be
by ballot. and each share or stock snail be
entitled TO one vote, to be cast by the owner
in person or by written proxy. Inc ma
jority OF stock, voted at any stockholders
meeting. shall decide all questions voted
upon, except as otherwise provided.
The officers Of this corporation shall be
President. Vice President. and Sec
retarv-Treasurer. The first Board of Direc-
tors Of this corporation is hereby declared
to be: John F. Payne, W L. McWhlte,
and Walter r. Chilean: with the said John
F. Payne as President, the said W, l.. Nc,
White as Vice President, and the said
Walter 3. Chilean as Secretary-Treasu
Which said Board and officers shall hold
their respective offices until the first tues
day in January, 1911, or until their sue
cessors are duly elected and qualified at
which said date. and annually thereafter;
the stockholders shall eject 9oard Od
said board shall, within two days after
| their election, elect from among thelr
| number a President and Vice President.
| They shall also elect Secretary-Ireas-
| urer. who NAV, or may not. be member
| of said board or stakeholder. in the dlS'
| erection of the Board of Directors A ran,
ure to hold an annual election or 10 clec.
| officers as herein provided for. shall not
! result in the dissolution of this corpora
ton. but the then Board Of Directors and
| officers shall hold their respective ofhces
| until their successors are duly elected.
Any vacancies occurring on said BoarC
j of Directors shall he filed by the remain
ing members of said board for the unex
PRED term. at meeting called Tor thal
| purpose, after ten days prior notice II
writing sent by mail TO said directors n
their last known addresses. and II the Salt
board fails TO elect at said meeting, thef
the election may be made by me e. st .Sa,
holders at a special meeting called for tha'
| purDoSe i'm the manner herein provided FOL
| the election Of directors.
| The said Board Of Directors shall have
the mower to make all bylaws. rules anC
reouiations for the proper management anC
:, conduct of the affairs of this corporation
and TO change. alter, amend or aboHsh lh'
same at pleasure. and shall have ana eN
erciSe all the powers conferred ny Jaw oi
this corporation and as set forth in this
The said Board of Directors may ais
, delegate any OF said powers III the lra ia'
action Of the business Of this corporation
to committees Of their own body, or 10 IN
officers and agents of this corporation.
All the employers of this corporation
other than the elected officers. shall be con
sidered as employed by the month. unles
otherwise specifically contracted WIN
writing. D-,,,. =
II shall he the duty Of the President o
this corporation. or In the event OF MS IN
= ability to act then the Vice President, =
call = sneciaI meeting of the Board Of ID
rcctors OF the stockholders. on wrltte
request to that effect, signed by two dlreC
tors. or upon the written request OF te
Der cent of the stock issued