The herald., 1912-01-04

otherwise the shareholder wishing IN sell
snail have the right to sell to anyone, wheth-
err stockholder or not. If any one or
more, stockholders do not wish TO buy here
under then the remaining stockholders shall
nave the right to buy all the stock so Of
fered. In proportion TO their holdings The
secretary shall at once notify all the stock
holders, IN writing. mailed to their last place
OF residence on the books of the corpora
ton, OF the stock offered for sale
ARTICLE V.
All the corporate powers of this cOrpo-
ration and the MANAGEMENT and control of
It's afairs shall be vested in and exercised
by board of directors, composed of three
stockholders, majority Of whom shall con-
stitute quorum for the transaction of all
business. These directors shall be elected
annually by the stockholders at a meeting
TO be held at the domicile Of the corporation.
on the nrst Tuesday in the month of January
OF each year. Each stakeholder shall he en- |
titled. in person or by written proxy. TO n |
vote Tor each share of stock owned by him |
ana AND all elections shall be held under such
rules ana regulations as may be determined |
by the board of directors The directors
thus elected shall continue in Office for one |
year or until their successors shall have
been elected and have qualified No failure |
10 elect shall be regarded as a forfeiture of |
this charter. Any vacancy occurring in the |
BOARD shall be filled by the remaining direc-
tors Tor the unexpired term. The board of |
directors shall at their first meeting after
their election, by viva vOce vote, elect from
among their number a president vice-presi-
uent ana a secretary-treasurer. or they may
CONFER and combine the functions of treas
urer on any other officer. The terms of said |
olneers snail be the same as that of the |
BOARD eiecting them, and their powers and
duties shall he such as appeartain 70 their
several offices or such as NAV be prescribed
by the bylaws Or resolutions of the hoard
me said board of directors shall have pow
bylaws, rules and reguiatioN for the n eon,
DUCT or the affairs of the corporation. and
TO employ and dismiss managers. clerks and
Tisner employees or the corporation as the
h,erest ana business of the same NAV re-
qulre Any of the directors shall have the
right 10 appoint, by written instrument, an
oIner director or stockholder to act as his
proxy and in his stead, at any and ali
meetings of the board of directors
ARTICLE VI.
No stakeholder shall ever be held liable
or responsible for the contracts. faults or
debts of this corporation, nor shall any
mere lnformality In organization have the
erect of rendering this charter void or of
exposing a stakeholder to any liability be-
yond me unpaid balance due on the shares
owned by him.
ARTICLE VII.
This act of Incorporation may be changed.
modified or altered, or this corporation NAV
pe dissolved with the assent of its stock
holders owning three-fourths (&I of the
capital stock of the corporation present or
represented by written proxy. at a general
meeting convened for that purpose and after
snail have been given-through mail To each
stockhOlder at his last known place of resi-
dence. In case of dissolution by the expira-
t non OF this charter or otherwise, the stock
holders shall elect three liquda tors from
among their number TO settle and wind up
the aHalrs and business of this corporation
In case OF the death or disability Of any one
or said liquidators the Survivors shall an |
point stakeholder as successor TO him.
Inc capital stock may be increased or de. |
creased in the manner now or hereafter pre-
scribed by law.
ARTICLE VIII
Immediately after the signing of this
charter the stockholders shall meet and eIect
viva voce three directors who shall serve
until the election to be held on the first |
tuesday In the month of January in the
year nineteen hundred and thirteen. The |
SAID appearers hereby severally declare that
In order to organize this corporation and TO |
serve and stand as the original substitution |
list thereof, they do each of them seyerally |
subscribe for the number of shares of capt. |
after their respective signatures
In faith whereof. the said appearers have
hereunto set their hands, with me- said no. |
tary, and Irene G. Pendergast and L. Earle |
Bellande. competent witnesses. here residing
az my notarfal office, in the said city, on |
the dav and date first above written after
due reading of the whole. Two words son |
quorum erased. three words Sin the board, |
signing
ISigneD Henry Sitges. twenty-eight
e. shares Z. Fl: MILFORD, one ~ share
Sam1 Wolf. one ~ share (Witnesses1 |
Irene q. Pendergast l.. Earle Bellande.
State of louisiana
Parish of Orleans
l., the undersigned, deputy recorder Of
mortgages for the said parish and state. do |
corporation Of THE Shreveport Land and
Development Company" was this day duly