The herald. [volume] (New Orleans, La.) 1905-1953, 1912-11-28
ARTICLE II.

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spurs, etc; and in connection with said
main line, whether extended or not. TO ac-|
qulre or construct all necessary spurs side
tracks. switches, turn outs, water tanks
coal sheds. yards, stations, round houses
shops, warehouses. platforms elevators cane
holStS, oil tanks, ferries, bridges, rolling
stock and all other adjuncts and appurtru-
ances necessary, proper or convenient for
The operation of said main line or branch
lines Of railway and the traffic thereon
either by steam, electric or other motive
power as the board Of directors NAV deem
eNpedient; TO lease or sell its line Of
railway in whole or in part, to other com
panieS to lease railways from other com
panies or individuals in whole or In part :
TO acquire and own the stocks. bonds and
securities Of other railway corporations; to-
construct, or otherwise acquire and own and
operate warehouses; TO establish telegraph
and telephone lines and own operate sell
or lease the same; 10 establish electric
plants, generate electricity and distribute
same for hire for lighting. heating and
power purposes: TO construct or otherwise
acquire, own, maintain and operate steam
ships, steamboats,, canal boats or barges and
Terry boats TO develop generally the agri-
cultural and manufacturing interests OF the
state of Louisiana and generally to have
such Incidental powers and privileges and
to do sucn things as relate TO the objects
and purposes herein set forth, as NAV be
necessary, useful or convenient for efecting
said objects and purposes.
ARICLE III.
The capital stock of this corporation is
hereby declared to be the sum OF one hun
dred thousand dollars (S100,O .OO) divided
into and represented by one thousand shares
OF the par value of one hundred dollars
each.
This corporation shall have the right to
begin its operations as a going concern at
once, fifty shares of its capital stock having
been subscribed for Said stock shall be
paid for in cash or its equivalent and all
shares of stock shall be full paid and non
assessable Transfers of stock shall not be
binding upon said company unless recorded
upon It's books. The business and affairs of
this corporation shall be managed and con-
Quoted by a board of three directors The
first board of directors shall consist OF
George w. Reese. Il. A. Webb and f. T.
Brady, who shall hold office until the fourth
Monday in October, 1913, or until their sue
cessors shall have been elected and quail
fed The board Of directors Immediately
upon their election annually shall meet and
elect from their own number president,
yice-president, secretary and treasurer.
The offices OF vice-presdent and secretary
or ylce-president and treasurer or secretary
and treasurer may be held by the same indi-
yldual Until the fourth Monday OF OctO-
Der, 1918, or until their successors are duly
elected and qualified, George w. Reese shall
be president, Ii. A. Webb shall be vice pres
ident and f. p. Brady shall be secretary
and treasurer. On the fourth Monday OF
October, 1913. and annually thereafter an
election for directors and Immediately there
after an election for officers shall be held at
the Office of the company after ten DAYS no.
tice of such meeting shall have been given
in writing TO each stakeholder of the time
and place of holding said annual election
which may be served by transmitting same
TO said stockholders through the mails, ad-
dressed respectively to their last known
place OF residence or business.
The voting shall be by ballot and each
stakeholder shall be entitled to cast one
vote for each share owned by him, which
shall be standing In his name on the books
OF the company for at least ten days prior to
the date of said election. Failure from any
cause whatsoever to hold said election or
meeting, or to elect directors or officers
shall not dissolve the corporation, but the
directors and officers then In office shall
hold over until their successors shall have
been elected and qualified. In case any di-
rector or officer should die or resign before
the end of his term Of Office, the vacancy
may be filled by the remaining directors by
the election of a stakeholder in his place
who shall act until his successor shall have
been elected at the next ensuing annual cleo
ton.
ARTICLE ".
Two members of the board Of directors
snail constitute quorum for the transac-
tion of all business OF the company, and
majority vote at any meeting shall prevail.
Said board Of directors shall have power TO
appoint one or more managers to whom they
may delegate the conduct of the ordinary
business and affairs Of the company, under
Of directors shall have power TO appoint all
agents, clerks and employees and fix their
salaries and compensation, or may delegate
said authority to the manager or managers
They shall have power to make, change, al
ter or modify all proper bylaws rules and
regulations for carrying this charter into
effect and for managing the affairs Of the
corporation.
Except as to the Increase or decrease OF
the capital stock, this act OF Incorporation
may be changed, modified or altered or the
said corporation may be dissolved at a meet
ing Of the stockholders called specially for
that purpose after ten days notice OF the
time and place OF holding such meeting shall
have been directed to each stakeholder In
the manner prescribed by Article Nv OF this
act.
ARTICLE vi.
No action Of stockholders at any meeting
shall be valid or binding unless stockhold-
ers holding or representing a majority of
the capital stock shall be present or repre-
sented by written proxy and II shall re-
quire vote OF at least two-thirds of the
stock so present or represented to amend
the charter or dissolve the corporation. As
to any other action by the stockholders
meeting a majority vote Of the stock present
and represented shall control.
ARTICLE VII.
Upon the termination of this charter by
limitation, or upon the dissolution Of the
ness and affairs shall be liquidated by three
commissioners selected from among the
stockholders at a general meeting called for
that purpose, after the notice required by
Article Nv Of this act. In case Of the death
Of any liquidating commissioner during the
term Of his duties as such, the remaining
commissioners shall elect a successor from
among the stockholders.
ARTICLE VIII.
The president Of this corporation Is here
by designated as the officer upon whom ser
vice of citation or other legal process shall
be made: In the absence of the president
said service shall be made upon the vice
president and In the absence OF both officers
upon the secretary.
ARTICLE TX.
No stakeholder shall be liable or In any
manner responsible for the contracts or
faults of this corporation beyond any IN
paid balance that may be due on the shares
OF stock owned by him nor shall any mere
informality In this act have the effect Of
rendering this charter null or exposing
stockholders to liability beyond the amount
of their stock.
The stockholders have placed opposite
their respective names the number of shares
Of stock In this corporation subscribed to
by them and this act shall be considered as
containing the original stock subscription
list OF said corporation.
Thus done and passed In nv Office at New