The herald. [volume] (New Orleans, La.) 1905-1953, 1912-01-25
ARTICLE V.

ARTICLE V.
All the powers of this corporation shall be
vested in and be exercised by a Board of not
less than three nor more than five Directors
to be elected each year by the stockholders
at the annual meeting. The first Board of
Directors shall be chosen by the signers of
this charter, at the time of their subscription
and the organization of this corporation,
who shall continue to hold Office, for one
year, or until their successors are elected
and qualified. The persons so named as
Directors all whom shall be bona fde stock
holders, shall select from their own number
President, a Vice-President, and Score.
Treasurer. One person NAV not hold
more than two of the above offices at the
same time.
On the first Monday of January. 1913. and
| on the same day OF each succeeding wear. ex-
cept when such day shall fall on a legal
holiday, then. upon the next following lay
day. the stockholders shall elect a Board
| or Directors, for the ensuing year. the
Board already installed to continue to hold
over until their successors are elected and
The Board of Directors so elected shall
select from their own number the officers of
the corporation, as above provided. The
election OF Directors shall be by ballot and
the persons receiving the largest number of
votes cast shall be declared elected. For
electing directors or for any other purpose
each share OF STOCK whether present or by
proxy, shall be entitled to one vote, and
majority OF the votes cast shall be required
to pass any resolution or decide any ques-
ton submitted to the stockholders except
for the alteration or amendment of this
charter, or the dissolution of the corpora-
ton, as hereinafter provided.
The said Board Of Directors shall have
power and authority to make all necessary
rules and regulations for the management
operation and control Of the business Of the
corporation, as well as to make all necessary
rules and bylaws, with power to All any
vacancy occurring In their number A ma
1ority of the Directors voting at any one
time: In person or by proxy, shall be re-
required 10 pass any resolution or adopt any
bylaw, and which, when so adopted shall
become valid corporate acts.
ARTICLE VI
Notice of all meetings of stockholders for
electing directors, or for any other purpose
except as hereinafter directed shall be given
IN writing by the Secretary, to be deposited
In the mail, at least ten days before such
meeting. directed to each stakeholder, at his
last known address, appearing upon the
books OF the corporation, unless said notice
Is waived In writing by all the stockholders
appearing as such upon the books.
ARTICLE VII.
This act of Incorporation may be modified
added TO, changed or amended, or this cor,
poratlon may be dissolved by and with the
assent Of the holders of three-fourths in
amount Of the outstanding stock. given at a
general meeting of the stockholders. TO he
convened after ten days prior notice to be
given in one of the daily newspapers puh
llshed In the City of New Orleans. in atldi
ton TO the personal notice to each stock
holder. as provided in Article vi of this
charter; and such changes as may be made
In reference to an increase or decrease of
the capital stock, shall be preceded by such
by law.
In the event Of the dissolution of sbid
corporation, either by limitation of its char
Ter, or otherwise. Its affairs shall be lioui-
uated DIV three commissioners, to be appoint
60 ana elected at a special meeting, called
IIr that purpose, as above provided. and
who shall remain in Office until the AFFAIRS az
sald corporation shall be fully liquidated
and, in case of the death of one or more of
sara llquldators, the survivors or survivor
snail continue to act.
ARTICLE VIII.
No stakeholder shall be held liable or re-
for the contracts or faults OF this
corporation, In any further sum than the
the shares owned by him. nor shall any mere
lnrormality In organization have the effect
oI rendering this charter null, or of exposing
stoekholder to liability beyond the amount
or his unpaid stock. II any
Thus done and passed, at nv office. in the
CITY or New Orleans, on the day, month and
year hrst hereinbefore written in the pres
enee or William A. Dixon and Rudolph Kop- !
TICK. competent witnesses. who hereunto |
sign their names together with said apnear |
FRS and me, the notary, after due reading of |
the whole.
,(Original signed Harry X. johnson and
others. CWitnesses) William A Dixon
Rudolph Konrick
CHAs. F. FLETcHINGER,
Notary Public |