The Caucasian., 1913-02-11

poration and body polite may DC
transferred under the above condl-
tions, provided such transfers
thereof be made on the books OF
! said company at its office IN the
City of ShreVeportD Parish OF Cad
do, State of Louisiana, its domiclle,
and on surrender Of the certificate
thereof, and if this provision is not
complied with, no transfer of stock
shall be binding on said corporation
and body polite, and this clause and
provision of limitation shall also be
printed on the face of each certlfi-
cate Of stock issued by sadi COM
pany. No transfer of any fractional
part Of share shall be made. This
corporation and body polite shall
be authorized and shall commence
doing business as soon as one hun
dren and tWenty-siX thousand dol
lars of the capital stock thereof
shall have been subscribed and paid
for in cash or its equivalent as
aforesaid, and when all the manda-
tory, legal requisites of incorpora-
ton have been complied with.
ARTICLE ".
The corporate powers OF this
company shall be vested in and ex-
ercised by a board of eleven t1l
directors consisting of the presl-
dent, vice president, secretary
treasurer, and eight stockholders.
six of said board shall constitute a
quorum for the transaction of busl-
ness, and their decisions shall be
valid corporate acts. The following
persons shall constitute the first
board of directors: J. J. Hudson, !
NJ. Hall, E. E. Grain, J. w. Pey-
ton, J. R. Castleberry, B. Can
non, w. B. Chenoweth, w. S.
Thompson, O. G. Richardson, J. L.
Pence and R. H. Guelich, and the
first officers of said corporation and
body polite shall be as follows: J.
J. Hudson, president; T. M. Hall,
vice president; and E. E. Grain, sec
retary-treasurer, who shall hold
their respective offices until their
successors are duly chosen and
elected as hereinafter set forth. No
person shall be eligible as director
or an officer who is not stock
holder of this company. During the
absence of the president the vice
president shall act and preside. Said
board shall continue in Office until
the second Monday of January in
the year nineteen hundred and
fourteen, on which date and there
after annually, the board of direc-
tors shall be elected on the second
Monday of January of each year,
unless the same shall be "a legal
holiday, when the election shall be
held on the next legal day thereaf-
ter. Notice of such election shall be
given by at least ten (i0) days con-
tinuous publication Immediately
preceding each election, in one Of
The daily English newspapers of
said corporations domicile; and the
board of directors shall appoint one
or more stockholders to preside at
such election as commissioners. In
the event of the failure of any COM
missioner or commissioners to at
tend, the president shall, by ap-
pointment, fill the vacancy. Any
failure from any cause whatever to
elect directors the day named for
that purpose shall not dissolve the
corporation and body polite, but
the directors then in office, as well
as the officers of said company,
shall hold over until their success
sOrs are chosen. In such event the
president shall cause another elec-
ton to be held within thirty 800
days, and shall give notice thereof
as hereinbefore provided. At every
election and meeting each stockhold-
er shall be entitled to one vote for
each share of stock registered in
his name, and may vote by proxy.
The election of directors shall be
by ballot, and the majority in
amount Of votes cast, each share OF
stock voted upon to be counted for
one vote, shall elect the person or
persons for whom they have been
cast. After each election the board
of directors shall elect from their
own number the officers of said
company. The board of directors
shall have full power to fill vacan-
cies in their number caused by
| death, resignation or otherwise,
from among the stockholders of the
corporation and body polite. The
said board shall have full control
of the property Of this company
and shall so conduct, manage and
use the same as in their discretion
they deem fit, and that is consistent