The Caucasian. (Shreveport, La.) 1900-192?, 1912-08-29

business as soon as one hundred
thousand (S1OO,O00) dollars of its
capital stock shall have been sub
scribed for and paid in cash or its
equivalent; No stock shall be sold
for less than par, and for cash or
property rights satisfactory to the
board of directors.
ARTICLE ".
| The corporate powers OF this cor
poration shall be vested in and ex-
ercised by a board of seven direc-
tors four of whom shall constitute
a quorum for the transaction of
ibusiness, and all of the directors
shall be stockholders of this COM
pany. The board of directors shall
be vested with power and authority
| to make all contracts, purchases,
leases, sales, etc, in the prosecution
of the business of the company, and
| to adopt a code of bylaws, rules
and regulations for the management
of the business and affairs OF the
company, and may alter, amend and
change the same at pleasure, The
board of directors shall elect the Of
ficers of this corporation, and ap-
point, hire and discharge all Of1l-
cials, agents and employees, fix their
compensation, and generally do and
perform all things and acts neces-
sary in the prosecution OF the en-
terpriseS of the company. Vacancies
occurring in the board of directors |
by death, resignation or otherwise,
shall be filled for the uneXplred |
time by the remaining directors. |
The same person may be secretary
and treasurer. The first board OF d.
rectors of this corporation shall be
composed of E. R. Ratcliff, +. W.
Plumb, R. T. Layne, R. H. Davis,
Yates Holmes, H. R. Ratcliff, W. A.
Mabry. The officers of this corpora
ton shall be as follows: E. r. Rat
cliff. president: F. w. Plumb, wee
president; R. I. Layne, secretary,
R. H. Davis, treasurer. This board OF
directors and the officers shall re
main in office until the first Mon
day in September 1913, or until their
successors shall have been elected
and qualified. On the first Monday
in September and annually there
after. an election of directors snail
be held in the office of the company
in Shreveport, La, notice OF Whlcn
meeting shall be given in any one
of the newspapers published IN the
City of Shreveport, for ten (1O) days
prior to the date of the meeting.
Should for any cause this meeting
not be called or advertised at the
time mentioned, then it may be
called and advertised for a later
date, and a meeting held at such
later date shall have the same effl-
cienc yand force as though held on
The first Monday in September. AT
all stockholders meetings each share
of stock shall be entitled to one
vote either in person or by proxy IN
writing. The term of office Of no Of
fetal, agent or emplOye shall extend
beyond the term of office Of the
board of directors which elected or
appointed him. If no term be fixed
during which an official or emplOye
is to hold office, then his tenure OF
the place shall be at the discretion
of the board of directors.
ARTICLE V.
This act of incorporation may be
amended, or the corporation itself
by and through the assent
and action of three-fOurths OF the
stock present or represented at any
general meeting of the stockholders
convened for this purpose after
thirty days prior notice Of such
meeting have been given by publ
cation in one of the daily newspa-
pers published in the City OF
Shreveport, La, by five insertions
during said period of thirty days.
Should changes be contemplated in
reference to the capital stock, be-
sides the thirty days notice as
above ten days written notice by |
mail or otherwise to each stock
holder shall be given. This ten days |
written notice may be given during
the thirty days published notice is |
running. |
ARTICLE vi.
Whenever this corporation is dis
solved, either by limitation of its
charter, or from any other cause,
its affairs shall be liquidated by |
three commissioners chosen by the
stockholders at a meeting of the |
stockholders convened for that pur-
pose after thirty days notice shall
have been given by publication in
a newspaper as hereinbefore set