The herald., 1911-01-26
ARTICLE V.

The capital STICK Of this corporation Is
hereby fixed at the sum of twenty-five thou
sand and OO-1OO 25,000.00) dollars rep
resented by two hundred and fifty shares
OF one hundred and OO-l00 ($100.OO) each.
The company shall begin operation as
soon as seventy-five shares Of the capital
stock are subscribed for or disposed of.
All stock subscribed for shall be payable
at such times and on such terms and condi-
lions as the Board Of Directors NAV from
time to time fix and determine in each par
ticular case, or the Board OF Directors NAV
issue certificates Of paid-up stock In pay
ment or property or goods actually deliy-
cred to this corporation or for services &C.
tually rendered to IL, or for rights, priv.
leges or franchises transferred TO IL, the
valuation In each instance to be agreed to
by the Board Of Directors, which shall
have full and final power to do So Diyi-
dends shall be declared on the amount
actually credited on the capital stock with
out regard to the amount subscribed for
said capital stock may be increased in the
manner provided for by the laws of this
state. Whenever an increase of said cap
ital stock shall have been authorized or
additional stock issued, fifteen days written
or printed notice shall he given to each
stakeholder, within which time persons hold
Ing stock In this corporation shall have the
right to subscribe for said increase stock
or additional issue Of stock In proportion to
the number or shares of stock then held
by them, and which additional shares shall
De paid for as the Board of Directors NAV
direct. After the expiration of said time
the Board Of Directors may dispose Of the
shares not taken, for the benefit of the
company In such manner and on such terms
ana conditions as they may think proper
All transfers of stock shall be made on
the books OF the corporation and shall be
signed by the stakeholder or by his attor-
ney At all elections by or meetings Of
the stockholders, each share Of stock, wheth-
er paid for In full or not. shall be entitled
70 one vote, to be cast either by the person
IN whose name the stock appears on the
DOCKS OF this corporation at the time of
the voting, or by his agent or proxy, duly
authorized In writing to that effect.
ARTICLE vi.
The business and affairs and corporate
powers or this corporation shall be trans
acted by board of three directors, to be
composed OF stockholders thereof, and they
ana each OF them shall be elected by
majority OF all the votes cast at a meeting
to be held for that purpose.
AS soon after the execution Of this char
Ter as practicable. the subscribers hereto
shall hold a meeting and select those TO
compose the first Board OF Directors of this
corporation and they shall hold office until
the third Monday In January, 1912, or until
tneir successors are elected and qualified !;
each subsequent board shall take their seats
following their election. or as
soon thereafter as practicable, and shall
hold their office until their successors shall
nave Deen elected and qualified.
On the third Monday In January, 1912
and annually thereafter, an election for
directors by the stockholders shall be held
at the ONCE OF the company, after ten DAYS
previous notice OF such meeting shalr have
been given by advertisement appearing three
times In ten days In one Of the daily Eng
lish newspapers published In the City Of
New Orleans, the first advertisement ap-
pearing not less than ten days prior to the
meeting and the last advertisement appear
Ing on the day Of the meeting.
Every Board of Directors shall at its
trst meeting after its election or as soon
thereafter as practicable, elect a President.
Nice-President and Secretary from their
OWN number.
A failure to elect directors on the date
above specified shall not dissolve the cor
Doratlon, but the then existing Board of
directors shall continue to hold their Of
ices, and another election shall be held
Is soon thereafter as practicable at a time
o be liked by the Board of Directors then
n office, whereof five days prior notice shall