The herald. [volume] (New Orleans, La.) 1905-1953, 1912-06-06

ton shall be exercised In and the business
thereof shall be managed by board OF d.
jority OF whom shall form q quorum TO
transact business.
The following named persons shall con-
stitute the first board OF directors. who shall
hold their Office until the 18th day Of May
in the year 1918, or until their successors
shall have been elected and qualified. to-
wit s. III. Hasam, August Stef, J. r. Behr-
ems, R. J. Seghers and Bryan Black.
On the 18th day of MAY, in the year OF
1913, and on the 18th day OF May In each
year thereafter. an election Of directors shall
be had by ballot at the office OF the corpora
ton in the city OF New Orleans, between the
hours OF ten O'Clock a. m. and two O'Clock
p. m, Of which said election at least ten
days previous notice shall be given by mail
ing notices of said meeting to all stockhold-
ers OF record at their last known place OF
residence.
Each and every holder Of stock shall be
entitled at all elections either in person or
by written proxy. to vote one vote for each
share of stock which they may hold a ma
jorfty of the votes cast shall be required to
elect.
The board Of directors named In this char
ter, and each board which may be hereafter
elected as above provided, shall elect from
their own number president, vice-presi-
dent, and a secretary treasurer. Any men,
Der Of the board Of directors Of this corpo-
ration shall have the right TO appoint any
stakeholder to act for and represent him at
all meetings of the said board OF directors.
The said appointment shall be in writing
and shall be entered on the minutes OF the
corporation and shall continue In force and
effect until revoked by a similar instrument
in writing addressed to the secretary-treas-
urer OF the corporation. The stakeholder
holding such power Of attorney from any d.
rector shall. until the power Il revoked as
above provided. be entitled 20 exercise and
enjoy at all meetings OF the board OF direc-
tors the same privileges as though he had
cancy occurring In the board of directors
shall be filed by the remaining directors for
the unexpired term.
ARTICLE FIVE.
This act Of Incorporation may be changed
| or altered, or this corporation may be dis
! solved with the consent OF the stockholders
| owning three-fourths Of the stock OF the cor
poratiOn represented at a general meeting
convened for that purpose, OF which said
( meeting at least ten days written notice
shall have been given by mail addressed to
each stockholder of record at his last known
| place OF residence.
ARTICLE SIX.
No stakeholder OF this corporation shall
ever be held liable for any Of the debts,
| poratiOn in any further sum than the IN
paid balance. II any, due TO the corporation
on the shares OF stock owned by them; nor
snail any informality in the organization OF
/ this company render this charter void, or
expose any stakeholder to any liability be-
yond the amount remaining due on his
stock. Nor shall a failure at any time 20
hold meetings, 10 elect directors or officers,
/ as herein provided for, work the forfeiture
OF this charter, or dissolve the corporation,
/ but the existing board OF directors and Off
GERS shall remain In office until their sue
cessors be elected and qualify.
ARTICLE SEVEN.
Whenever this corporation Is dissolved.
either by limitation or from any other cause,
! its affairs shall be liquidated by one or more
commissioners to be appointed from among
the stockholders at the same meeting, or at
any adjournment thereof at which such dis
solution may be decided upon. or at a meet
Ing called for that purpose, Of which meet
ing the same notice shall be given as pro-
vided under the terms Of Article hereof
for meetings held for the purpose of amend
Ing the charter or dissolving the corpora
ton, and q majority In amount Of the capt