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

All OF the corporate powers OF this cor
poration are hereby vested in, and shall be
exercised by a Board Of Directors, to con
sist OF five stockholders, three Of whom
shall constitute a quorum for the tranSac-
ton of all business. The said Board OF ii
rectOrS shall be chosen annually by TIE
stockholders, at a meeting held on the see
Ond Tuesday Of the month OF January, 1872.
and annually thereafter on the same day
or until their successors have been duly
elected. The first Board OF Directros shall
consist of Fritz Salmen, Charles ID. Stew.
art, Leon c. Weiss Emile We'll, l.. A. Livau.
dais, who shall serve until the election OF
their successors.
Each Board of Directors shall appoint
from their number a President and Vice
President; said Board OF Directors shall ap-
point also. from their number or other per
sons, a Secretary, Treasurer and General
Manager, any OF which three latter Offices
may be combined in the same person should
the Board OF Directors deem it advisable
All officers above mentioned shall hold their
offices during the life OF the Board Of Direc-
tors appointing them.
Vacancies in the membership OF the
Board or Directors, or In said offices, shall
be filed by appointment Of the remaining
members of the Board of Directors.
The following persons shall constitute the
officers OF the company during the life of
the first Board OF Directors Fritz Salmen,
President; Leon c. Weiss, Vice President;
l.. A Livaudais, Secretary; c. u. Stewart
Treasurer and General Manager.
Meetings of the Board of Directors shall
be held at the Office Of the Company at New
Orleans, at such times, and upon such no
tice, as may be fixed by the said Board OF
Directors, or the President of the company.
The Board of Directors shall also appoint
all such other officers, agents or employees.
as the business OF the company may require,
or may confer such rights of appointment
upon the general manager Of the company.
All salaries shall be fixed by the Board
Of Directors, or by the General Manager,
in case Of persons employed by him under
authority of the Board.
The Board OF Directors shall also have
the right to confer any of its powers upon
an executive committee, agent, or represen
tative, or other person, as it may deem
advisable.
All meetings of stockholders, for any pur
pose whatever, whether special or general
shall be held in the City of New Orleans
La, after ten days notice mailed TO the
last known address Of each stakeholder. II
such meetings stockholders shall be entitled
to one vote for each share of stock owned
by them, in person or by proxy; provided
that stock can only be voted In the names
Of stockholders who shall be the record
owners OF, the stock, as shown upon the
books Of the company, at least thirty t30i
days in advance of the meeting al which
said stock is offered to be voted. Said no
tice OF meeting shall be issued by the Sec
rotary of the Company by authority of either
company.
This charter may be changed, altered or
amended or this corporation be dissolved
by a vote of twO-thirds of the outstanding
capital stock, present or represented at a
meeting called for that purpose, after notice
Of said meeting shall have been given as
above provided.
In case the organization be dissolved, the
same meeting shall appoint three liquidators
to settle the affairs of the company, who
shall as rapidly as possible pay all out
standing debts, sell the property for cash,
or otherwise as they may deem advisable, or
as may be directed by said meeting OF
stockholders, and divide the proceeds among
the stockholders, according TO their re-
spective interests.
On all other questions excepting those
mentioned in this article majority of the
capital stock voting at any meeting shall
control the action Of the company.
ARTICLE VIII.
No stakeholder Of said corporation shall
ever be held liable or responsible Tor It's
contracts, or faults, or those OF any Of It's
agents or employees, in a greater sum than
the unpaid balance due by them on sub
scriptions TO the capital stock Of the coin
pany: nor shall any informality in organi-
zation have the effect Of rendering this
charter null, or exposing a stakeholder TO
any liability beyond the amount due on his
subscription to the capital stock Of the
corporation.
The names hereto subscribed shall form
the original subscription list.
Thus done and passed In my ofice, on The
day, month and year first above written, In
| the presence of Messrs. II. A. Schuber and
Jos. Helm, competent witnesses who have
hereunto subscribed their names, together
| with the said appearers and me, notary, af
| ter a due reading of the whole.
Original signed: F. Salmen, shares
$500; ]. A. Salmen, per pro +. Salmen,
shares, $500: Thos. w. Lewis. shares
$780, c. d. Stewart, 152 shares, $500
L. A. Livaudais, 10 shares, $1,000; LeoI
| 10 shares. $1,000.
| Witnesses: T. A. Schuber. Jos. Helm.
| (SeaD SCOTT f. BEER, Not Pub.