The Era-leader. [volume] (Franklinton, La.) 1910-current, 1912-10-10

iSI 'A' '\~'>' eA1H'A + ui va 40 ~ |
exchange for property actually re-
ceived or purchased by this corpora
ton or for services actually rendered.
This corporation may commence
doing business and shall! become
gong concern as soon as Five Ihou,
sand ($3,0OO.0OV Dollars of its capital
stock thas been subscribed for and
paid in. re remaining stock not sub,
scribed for shall be under the control
OF the board Of Directors.
ARTICLEV.
The corporate powers OF this corr
poration shall be vested in and eXer-
cised by Board of Directors com
posed of three stockholders and their
acts shall bind this corporation. Inc
first election of the Board OF Directors
under this charter shall be at q meet
ing of the stockholders to be held on
the first Monday of July, 1913, ana
thereafter the stockholders shall hold
an election on the first Monday OF
July of each year, and elect a Board
of Directors. who shall serve until
tehir successors have been elected ana
qualified: all officers to be elected
from among the board OF directors,
and no person shall be eligible as
director who is not a stakeholder OF
this corporation. During the absence
of the President, the Vice President
shall act and preside in his stead.
Notice of the election shall be gwen IN
writing by mail, addressed to each
stakeholder at his usual place OF
business, ten days prior to said cleo,
ton and the Board of Directors shall
appoint one of their number to pre-
side at said election, and on his fall
ure to attend the President shall ap-
point a stakeholder to fill the vacancy.
In the event of failure to elect Direc-
tors on the day appointed for that
purpose, then and in that event the
Directors then in Office shall continue
to serve until their successors are
chosen, At all meetings OF the stock
holders each stakeholder shall be en-
titled to one vote for each share OF
stock registered in his name and the
stockholders may vote by proxy given
in writing. The election of the Dr.
rectots may be by ballot and the ma
jority in the amount OF votes cast
shall elect such person or persons Tor
whom they are cast. The First Board
of Directors of this corporation shall
be composed of w. o. Grain, Presi-
dent, b. o. Blckham, Vice President,
H. c. Grain, Secretary and Treasurer,
who shall serve until their successors
shall have been elected and qualified.
ARTICLE vi.
The Board of Directors shall have
power to fill vacancies in their number
| from the stockholders of this corpora.
ton. The said Board shall haye
power and control of the property of
this corporation and shall exercise all
authority consistent with the objects
for which this corporation is organ
lied.
Said Board is authorized to adopt
, such by laws. rules and regulations
as may be expedlent for the conduct
/ of the business of this corporation or
necessary for its management, pro-
vided same shall not conflict with this
, Charter nor with the laws of the State
! of Louisiana, nor tho laws of the
United States,
ARTICLE VII.
This charter may be amended or the
capital stock of this corporation in
creased or decreased or the corpora
, ton may be dissolved at q general
meeting of the stockholders convened
for that purpose, with the assent OF
three-fourths of the stock present or
!, represented at SAID meeting, thirty
, days prior notice of such meeting be.
) ing given by publication in weekly
newspaper published at Franklinton,
f La, and q written notice thereof mail.
ed to each stakeholder at his usual
olace of business forty days prior to
said meeting. In case of the dissOlu'
ton of this corporation either by linn
itation or otherwise, its affairs shall
be liquidated by two commissioners
elected from among the stockholders
at a meeting called for that purpose.
t ARTICLE VIII.
No stakeholder of this corporation
shall ever be liable, or responsible fol-
:, the contracts or failure thereof in any
further sum than the unpaid balance
:, due said corporation on shares of
stock subscribed for and owned by
the stock holders; nor shall any in.
formality in the organization of this
corporation have the effect of render
!, ing the charter null or exposing the
. stockholders to any further liability
: than the unpaid balance due on his
stock.
Each stakeholder designates oppo.
, site his name the stock subscribed fol-
, by him and this charter shall serve as
, a written subscription list.
r Thus doue and passed a,tmy office
in Hackley, Washington Parish, State
! of Louisiana, ON the day, month and
year first above written, in the pres.
enee of J, Jordan and j. H. Mitch.
ell, competent witnesses, residing in
; the Parish of Washington, who signe
these presents, together with said 40,
= pearers and me, said notary, after
= due reading.
w. O. GRAIN. -. "a shares.
H. G. GRAIN 800. l share.
r. o. BICCHAM. .25 shares.
Witnesses:
j. JORDAN,
J. H. MITCHELL.
RI W. f.. AIE0pn