The Caucasian. (Shreveport, La.) 1900-192?, 1912-02-25

may require. IL snail also nave the
power TO make and amend such by
laws as may be deemed proper for
the management Of its affairs.
ARTICLE Ii.
The authorized capital stock Of
this corporation is fixed at ~Ten
Thousand Dollars, divided into One
Hundred shares of One Hundred
| Dollars each. The said capital
stock shall be paid for, either in
cash, services rendered, or real or
personal property Oh such terms. as
the board Of directors may deterIn-
inc. The corporation. shall begin
business as soon as Three ,ThOus-
| and Dollars Of the capital stock
thereof has been subscribed. Trans
ffers Of the aforesaid stock shall be
made on the books Of the corpor-
alton by the stockholders in person,
or by written proxy, and under such
trules and regulations as the board
Iof directors shall prescribe.
l.. ARTICLE III.
The purposes for which this cor
poration is organized are hereby de-
clared TO be that Of manufacturing,
buying and selling and operating
machinery of any kinds, but espec-
tally that which is used in cleaning
cruising, or delinting cotton seed;
that of buying, selling. and manu-
featuring cotton seed and cotton
seed products, as well as any other
commodities not prohibited by law;
and the transaction of any and all
business apperttaining or incidetal
to the said purposes.
-as ARTICLE ~.
The corporate powers of this cor
poration shall be vested in a board
OF directors to be composed of three
of its stockholders, a majority of
whom shall constitute a quorum
Said board shall be elected on the
first Tuesday o Teach January and
shall enter upon the the discharge
of their duties Immediately on the
same day Of each yeae.A Each share
Of stock shall be entitled to one
vote, to be cast in person or by
proxy, at an election and at the am
nual meeting of stockholders, ma
jority OF votes shall be required TO
elect. Thirty days prior notice of
all elections shall be given to all
stockholders, by written or printed
notices mailed to each stakeholder
by the Secretary. addressed to each
stakeholder at his usual post office
address. The said board of direc-
tors. at their first annual meeting,
shall elect from their number, a
president and also a Secretary
Treasurer. John S. Young, R. II.
Ward and w. l.. Young the hereby
designated TO be the first board of
directors, with John S. Young as
president and w. l.. Young as Sec
rtary-Treasnrer, who shall act UNI
Til the first election shall be held
under the terms of this charter, to-
wit: the first Tuesday in 1913, or
until their successors shall have
been duly elected and qualified. CT
iatjdns and all other legal processes
shall be served on the President.
and in his absence on the Secretary
and Treasurer.
Any vacancy which may occur in
the board OF directors shall be fill
cd by the remaining directors and
such directors SO appointed shaI!
serve as such until the ensuing re-
gular election or until their sue
cessors have been elected by the
stockholders.
ARTICLE Y.
This act OF incorporation may be
altered, modified or changed. ana
the CORPORATION may he dissolved.
at a general meeting duly and le-
gally called for that purpose. with
the assent of three-fourths of The
stock represented at such meeting.
i ~ tupltal SlOth III jIfiS tDFDOFs
lafion may be increased or decreas-
led. byt its stockholders acting in
ieonfor,nity with law.
ARTICLE VI.
Whenever this corporation shall
fbe dissolved either by limitation or
/ otherwise. its affairs shall !je ii.
Iquidated by three persons selected
flor That purpose by a meeting of
stockholders duly and legally con
vened for dissolution. In case of
the death or inability to serve of
tany liquidator. the vacancy shall be
filled by the stockholders in the
isame manner as the original select
lion.
ARTICLE VII.
No stakeholder Of this corporation
ever shall be liable for any of its
debts. obligations or contracts: nor