The herald., 1913-12-04

mortgage of its property, or on notes or
bonds secured by mortgage, or otherwise I;
10 name and appoint such officers, directors
managers and agents as the interest and
convenience OF said corporation may re-
Quire to make and establish such bylaws
and regulations for the proper management
and regulation as may be necessary and
proper, and the same TO change and alter
at pleasure; and TO do and perform all
such acts as are or may be requisite and
objects Of said corporation.
Article 1.-THE dOmicile OF said corpor-
alton shall be in the City Of New Orleans,
parish and state aforesaid, and the presi-
dent thereof shall be the proper person or
officer upon whom all citations or other le-
gal process shall be served.
Article III.-The objects and purposes
for which this corporation is organized and
the nature OF the business to be carried
on by 1t are hereby declared to be: To buy
mills for the manufacture Of cotton seed
oil and for the manufacture of cotton seed
into all its various commercial products. to
manufacture food and fertilizers and to feed
cattle, to acquire and operate gins and to
do everything pertinent to the conduct OF
such business as the needs and purposes
Of said corporation may require; to own
and operate a steamboat or boats and
barges for the transportation OF passengers,
seed and other freight.
Article !v.-The capital stock Of this
corporation is hereby fixed at one hundred
thousand dollars, s1OO;Oo0) TO be repre-,
the par value of one hundred dollars (S1OO)
each. Payments for said stock shall be
made In cash or its equivalent;
No stakeholder NAV sell, assign or trans
fer his stock In this corporation unless
thirty 800 days previous notice Of such In
tention to sell, assign or transfer the stock
sale, assignment or transfer, and upon
such notice the board Of directors shall
have the right to purchase the stock at Its
book value. Upon failure of the board to
hpfO pXnir1tiOn
thirty 900 days to purchase the stock at
its book value, said stock may be sold In
open market.
No stock Of the company can be bought
In by any Pledge, except upon the above
conditions. and provided the board OF di-
rectors do not resolve TO purchase the
same at its book value, within the period
named. No stock can be transferred under
any conditions unless the transfer be made
upon the books of the company at its Of
fee In the city of New Orleans. Louisiana
This corporation shall be authorized 10
commence business as soon as twenty thou,
sand dollars (S2O,OOO) of the capital stock
shall have been subscribed for.
Article v..All the corporate powers , o. o.
of directors consisting of five directors,
without the necessity Of any authorization
or ratification OF their action by the stock,
holders. The said board to be composed
of stockholders and except the first, which
Is hereinafter provided for, shall be elected
annually on the third Tuesday in June In
each wear a1Ier Ine year 1910. lIIIeCloi ;
shall have the right to vote on said board
in person or by proxy. Said board shall
have power to make all needful rules and
bylaws for the government and regulation
of the company and its affairs and business
and to conduct the same and appoint all
subordinate officers and agents necessary to
that end: and said officers and agents are
only TO be employed at the will OF the
board All elections shall be held at the
office of the company annually, beginning
on the third Tuesday In June, 1915. under
the supervision of two commissioners to be
appointed by the board of directors. Ter
days' notice Of such election shall be given
bv written notice sent to stakeholder al
his last address and the mailing Of said no
tice shall constitute proof Of service, anG
the directors then elected shall serve unit
their successors are elected and qualified
A majority Of the votes cast shall elect, anc
one vote shall be allowed for each share
of stock represented by the holder in person
or written proxy. ANY vacancy occurring
in said board from any cause whatever shall
be filed by the remaining directors. ma
jOrity of the directors shall constitute q