The herald. [volume] (New Orleans, La.) 1905-1953, 1913-09-04

estate timber lands. timber standing on
lands, or any other interest in said lands or
timber, both in this state and elsewhere 10
buy, sell, erect, own, lease or otherwise ac-
quire, and TO operate and maintain, in TINS
state or elsewhere, saw mills, stave mills
heading mills, shingle mills, planning mills,
dry kilns cOOperage mills, sash, blind and
door factories and all plants wherein wood,
logs and timber are manufactured. altered
or worked into telegraph and telephone poles
piles, slaves, dimension stock, lumber, Latn'
shingles, cross ties, cooperage material
or wood or forestry products to buy, sell or
otherwies acquire and ALLEVIATE and snip,
export or import, logs, timber, telegraph or
telephone poles, piles, slaves dimension sio'i
cooperage material or any other class OF
woodenware or building material or wood
or forestry products, or builders hardware
or roofing, or general building materiaI 10
acquire ALLEVIATE or maintain warehouses,
sheds. dwellings, stOrehouSes. factories, mill
or lumber yards to contract for the reno
val of timber from land, to bore wells OF
All sorts; to buy ana sell merchandise and
carry on a general store or commissary, and
to conduct hotels, boarding houses and lodg-
ing houses for its agents and, employees
and generally to hold and exercise all such
Incidental powers and privileges as relate
10 the objects hereinbefOre set forth.
Article IV.-The capital stock OF said cor
pOration is hereby fixed at twenty-five thou
sand dollars (S2j, 100000 divided into, or
represented by. two hundred and fifty shares
of one hundred dollars each (S100.O0l.
Article V.-All the powers of this cor
poratiOn shall be vested in and exercised Dy
board of directors 10 be composed OF three
stockholders to be elected annually on the
first Tuesday of August of each and every
year All such elections shall be by ballot
conducted at the office of the said corpora
ton under the superintendent of three COM
missioners to be appointed by the board or
directors and Of such electiOn-as well as
of all meetings of stockholders, except Tor
the purpose of liquidation or dissolution, or
as otherwise required by law-ten days no.
tice shall be given by mailing TO each stock.
holder who appears as such on the books OF
the company. at his last designated address,
or at the general delivery at New Orleans,
if he had not designated an address, an an.
nouncement stating the time and place OF
meeting.
Each stakeholder shall be entitled to one
vote for each share of stock standing IN
his name on the books Of the company, to
be cast in person or by proxy, and the ma
iorty of the votes cast shall elect.
The board Of directors shall have the pow
er TO fill all vacancies that may occur on
the board.
The failure to elect directors on the date
above specified shall not dissolve the cor
poration, but the directors then in once
shall remain In office until their successors
are elected. Due notice of another election
shall be given as above provided and such
notices of election shall continue to be glVer
until the election Is held.
A majority of the directors shall constr
tute a quorum for the transaction of any
business, and the board of directors at their
first meeting following each annual election
shall elect a president. vice president, secre
tary and such other officers as 1t shall deem
necessary. The board shall have power III
its discretion TO unite two or more offices
the same to confer upon one person.
The board of directors may make and es
tablish as well as alter and amen:, any anC
all bylaws, rules and regulations necessary
and proper for the support and management
OF the business and affairs of said corpora
ton, not inconsistent with its charter.
Said board shall also have full power an'
authority to borrow money through th'
president or some other duly authorized
agent or agents; to execute mortgages, ISSUE
notes. bonds or other obligations, and gener
ally TO do things reasonable ana necessary
for the proper carrying on of the business
of the corporation; as also to issue and de
liver full paid shares of stock, or bonds o.
obligations of said corporation In paymen
of labor or money borrowed, or property o.
rights actually received by said corporation
ANY member OF the board OF director
who may be absent from the domlclle or IN
COMPANY or who may be prevented by sick
ness from attending, may give writer
proxy to any other member Of said board o
directors 70 represent him in all matters
any meeting of the board OF directors, wheth
or general or special.
Article VI-Whenever this corporation
NAV dissolve, either by limitation or by an!
other cause whatsoever, its affairs shall b
| Iiouidated by three (3) stockholders to b
| appointed at a general meeting of the stock
! holders for the purpose of liquidation, a
| hereinafter provided, each share being en-
| titled to one vote In person or by proxy. Sal
| commissioners shall remain In office unit
| the affairs of said corporation shall hav
| been fully settled and liquidated, and shal
have full authority and power to transfe
and give title to all the assets and propert
| of the corporation. In case OF death. disa
bility or resignation of one or more Of sal
| commissioners, the vacancy shall be lille
by election by the surviving commissions
or commissioners.
The stockholders are especially empowere
by a three fourths vote of the entire STOCK
| cast at a meeting called for that purpose
| 10 sell the entire assets Of this corporation
either for cash or for stock In some othe
| corporation.
Before any stakeholder shall make sal
| Of his stock he shall offer same to his CO
| stockholders who shall have the preference
over outside parties In the purchase OF sal
| stock, provided the prices offered by ther
| he equal to those available elsewhere.
| Article VII.-Thls act Of the corporatio
| NAV be modified or altered, or said corpol
alton NAV be dissolved. with the assent G
| three-fourths of the capital stock representa-
| aft a general meeting Of the stockholders cor
yened Tor such purpose, after previous motto
shall have been given In one or more dali
newspapers published In New Orleans thre
l +irras vrithfn the fen DAYS next Drecedfu