The herald. [volume] (New Orleans, La.) 1905-1953, 1912-06-13

ton shall be exercised In and the business
thereof shall be managed by a board Of d.
rectors composed Of five stockholders, a ma
jority of whom shall form a 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 1913, or until their successors
shall have been elected and qualified, to-
wit s. III. Hasam, August Stef, J. X. Behr-
ems. r. ]. Seghers and Bryan Black.
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
tion in the city Of New Orleans. between the
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
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
jority 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 a president, vice-presi-
dent, and 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
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 is revoked as
above provided. be entitled to exercise and
enjoy at all meetings OF the board of direc-
tors the same privileges as though he had
been duly elected as a director ANY va
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 corporal ion may be dis
solved, with the consent of the stockholders
owning three-fourths of the stock Of the cor
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
ARTICLE SIX.
No stakeholder Of this corporation shall
ever be held liable for any of the debts,
contracts, faults or obligations of this cor.
poration in any further sum than the un.
paid balance, IL any, due to the corporation
on the shares of stock owned by them; nor
shall any informallty 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 to
nolu meetings, 10 eject directors or ofncers,
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 al
any adjournment thereof at which such dis
solution may be decided upon, or at meet.
ing called for that purpose, Of which meet
yided under the terms Of Article v hereof
for meetings held for the purpose of amend
Ing the charter or dissolving the corpora
tion. and majority In amount Of the capi.