The Era-leader. [volume] (Franklinton, La.) 1910-current, 1912-09-12

SASoSA 4PsAoAs vi d. VIC S0I4V - ASSUSsA
for no less than par, or in payment Of
exchange for property actually re.
ceived or purchased by this corpora
ton or tor services actually rendered.
This corporation may commence
doing business and shall become q
gong concern as soon as Five Thou.
sand ($5, 0O0.W) Dollars of its capital
stock thas been subscribed for and
paid in. TIE remaining stock not sub.
scribed for shall be under the control
OF the board of Directors.
ARTICLEV.
The corporate powers OF this cor
poration shall be vested in and ezer.
cised by Board OF Directors COM
posed OF three stockholders and their
acts shall bind this corporation. The
first election of the Board Of Directors
under this charter shall be at . meet.
ing OF the stockholders to be held on
the first Mondav Of July, 1913, and
thereafter the stockholders shall hold
an election on the first Monday Of
July OF each year, and elect . Board
OF Directors. who shall serve until
tehir successors have been elected and
qualified! all officers to be elected
from among the board OF directors,
and no person shall be eligible - :
director who is not q stockholder 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 given In
writing by mail, addressed to each
stakeholder at his usual place Of
business, ten days prior to said elec'
ton and the Board OF Directors shall
appoint one Of their number TO pre-
side at said election, and on his fell.
ure to attend the President shall %.
point stakeholder to flll 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 tho
stockholders may vote by proxy given
in writing. The election OF the Di.
rectors may be by ballot and the ma.
j0ritY in the amount OF votes cast
shall elect such person or persons for
whom they are cast. The First Board
Of Directors Of this corporation shall
be composed of w. o. Grain, Presi.
dent, B. O. Blckhsm, 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 have
power and control of tho property Of
this corporation and shall exercise oil
authority consistent with the objects
for which this corporation IL organ.
lied.
Said Board is authorized to adopt
such by laws. rules and regulations
IS may be expedlent for the conduct !
Of the business of this corporation or !
necessary for It's management, pro.
vided same shall not conflict With this
Charter nor with the laws Of the 9tate
If Louisiana, nor the lsws Of 10 |
United States,
ARTICLE VII.
This charter may be amended or The |
capital stock Of this corporation In.
creased or decreased or the corpora
ion may be dissolved Of . general
Meeting OF the stockholders convened
or that purpose, with the assent OF
hree-f0urths Of tho stock present or |
at said meeting, thirty
lays prior notice of such meeting b.
ng given by publication in . weekly !
newspaper published ut Frsnklinton,
a., and q written notice thereof mail.
ID to each stockholder Of his usual
'lace Of business forty days prior TO
aid meeting. In case of the dissolu.
ion of this corporation either By linn.
tation or otherwise, its affairs shall
re liquidated by two commissioners
lected from among the stockholdsre
It q meeting called for that purpose.
ARTICLE VIII.
No stakeholder Of this corporationI
hall ever be liable, or responsible iorl
he contracts or failure thereof In sny|
urther sum than the unpsid balance
ue said corporation on shares Of |
took subscribed for and owned byIlI
he stock holders; nor shall any in
ormality in the organisation OF this
have the effect Of render.
az the charter nvll or exposing theI
tockholders to any further liability
IAN the unpaid balance due on hisII u,
tock. li
Each stakeholder designates oppo.
tie his name the stock subscribed lorI
y him and this charter shall serve g /
written subscription list.
Thus doue and passed a,tmy odloel
Hackley, Washington Parish, State
Louisiana, on the day, month and
BAR first above written, in the pres.
zee of ], Jordan and ]. H. Mitch
l, competent witnesses, residin1 ipl
'e Parish of Washington, who siiuod
lese presents, together LII said %,
carers and me, said notary, after 4
le reading. =
w. o. GRAIN. %. "a shares. Z
H. c. GRAIN. 800. l shsro. In
r. o. BICCHAN. rs shares: b
Illnesses: