The Era-leader. [volume] (Franklinton, La.) 1910-current, 1912-05-02
power to determine how much stock
shall be issued.
ARTICLE w.

,orat,on shall be vested IN and exer-
Used by a board of three directors
consisting Of President, vice'Presl.
lent, and Sec'y-Treas. Two OF SAID
Board shall constitute quorum for
he transaction of business, and their
decision shall be valid corporate acts.
The following persons shall constr
ute the first Board Of Directors, to-
wit: S. W. sibly Jr., AT. sibIeyand
E. L. sibley, with E. L. sibley' Presl,
dent A. T. Sibley, vice-President and
S. W. Sibley Jr. Sec'y'Treas. No
person who is not stockholder snail
be eligible as director or officer. Dur
ing the absence of the President the
Vice. President shall act and preside
at meetings ofthe Board, said Board
shall continue in office until the Sec
ond Monday in May, 1912, on which
day annually thereafter, a Board OF
Directors shall be elected. unless the
said day should be holiday, in which
case said election shall be had the day
following Notice of such election shall
be given to each stockholder at least
ten days prior to such meetings, by
notice thereof mailed to each stock.
holder at their last known place OF
residence, provided that a written
acknowledgment by q stakeholder OF
such election, shall be sufficient,
provided such acknowledgment OF
notice is spread on the minutes OF the
meeting. The stockholders shall be
the judges and shall decide the man.
ner Of voting for the said directors.
In case of failure for any cause to
elect the directors on the day named,
such failure shall not dissolve this
corporation, but the directors then in
Office shall continue to act until their
successors shall have been elected and
qualified. In case of such failure to
| elect, the president shall call another
meeting within thirty days, and give
notice as herein provided for. AT
every election and meeting each stock
7 holder shall be entitled to vote for each
} share of stock held by him and regis
tered in his name on the books OF tn
r Company. A majority of votes cas-
shall elect, each share of stock votee
. counting for one vote.
II After each election the director:
shall elect from among their number
, the officers of the corporation.
ARTICLEV.
The board of directors shall have full
= power to fill vacancies in their mum
> Dor caused by resignation or otherwis
from among stockholders OF the com
pany. The said board shall have ful
b control Of the property Of the corpora
Q ton, and shall so conduct, use an
d manage the same as in their discretion
: they may deem best, aud consisten
with the objects Of the corporation
d and conductive to the welfare of til
!. same. The said board shall have tn
) power to adopt such bylaws, rule
J, and regulations Is the affairs an
II business Of the corporation may n
|; quire, and % it may deem necessar
l. ior the conducting and manageme'
b thereof, provided that the same sha
Of not conflict with this charter or II
r. provisions Of the law. The said boal
at shall elect or appoint such agent
r managers, employees. servants al
to clerks as they may deem necessar
Of fix the compensation, term OF servi
III with the right to dismiss them at Il
n pleasure Of satd board, and the boa
lie shall have the right to determine tt
r. salaries Of the officers herein provi
~ ed for.
81 ARTICLE vi.
This charter may be changed, mod
fed or amended. or this corporate
= may be dissolved, st . meeting Of t
:. stockholders for that purpose, WI
w three-fourths Of the entire capt.
~ stock whether present or represen
ne ed ct such meeting. Ten days mott
~ Of such meeting shall be given IS pr
~ vided for In Article ~ Of this chart.
~ providing for the election OF Director
100 In case Of termination Of this corpor
:. ton either BY limitation or otherwis
- tho liquidation Of ito affairs shall
y conducted by the Board Of Directe
~ as liquidstng commissioners, "
'or shall remain In once until the aha
OF Of tho corporation sre fully wound U
u The capital stock Of this corporate
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