The herald., 1913-08-21

estate timber lands, timber standing on
lands. or any other interest in said lands OF
timber both In this state and elsewhere; TO
buy sell erect. own. lease or Otherwise &C
quire and to operate and MAINTAIN, IN lnLs
state or elsewhere saw mills, StaVe mllis.
heading mills, shinGle mills, planlnS mis-;
dry kiInS cO0perage mills. sash, blind and
door factories and all plants wherein WOOD,
logs and timber are manufactured, altered
or worked into telegraph and telephone poles
niles slaves dimension stock, lumber, Iatl'
SHINGLES cross ties COOpcrage material,
or wood or forestry products 10 Duy' sen OF
OtherwicS acquire and allenate ana SUPP
export or import, logs, timber, telegraph or
telephone poles, piles, slaves, dimension
stock, lumber. lath, shingles. cross ties,
cooperage material or any other class OF
woodenware or building material or wood
or forestry products, or builders haTuMate
or roofing. or general building material 10
own, lease, buy, sell, build and otherwise
acquire ALLEVIATE or maintain warehouses.
sheds dwellings, stOrehOuSeS, factories, MN
or lumber yards TO contract lot Ine IeHio :
val Of timber from land, to bore wells or
all sorts: to buy ana sell merchandise ana
carry on general store or cOmmiSsary, ana
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 1925, 100000 divided into, or
represented by, two hundred and fifty shares
of one hundred dollars each (S100O0l.
Article V.-All the powers OF this cor
poration shall be vested In and exercised by
a board of directors to be composed of three
stockholders to be elected annually on the
first Tuesday of August of each ana 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 Wen as
of all meetings Of stockholders, except lor
e Tout m mr. dissolution.
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
nounccment 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
iority 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 Office
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 given
until the election Is held.
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, yice-preSident, secre
tary and such other officers as II shall deem
necessary The board shall have power in
its discretion to unite two or more omceS
the same to confer upon one person.
The board of directors may make and es,
tabIish as well as alter and amens, any and
ali 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 anC
authority to borrow money through the
president or some other duly authorized
agent or agents; to execute mortgages, issue
notes. bonds or other obligations. and gener
allv to do things reasonable and 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 oil
obligations of said corporation in payment
of labor or money borrowed, or property oil
rights actually received by said corporation
ANY member of the board of directors
who may be absent from the domlcle or tnt
COMPANY or who may be prevented by sick
ness from attending, may give a written
proxy to any other member of said board OF
directors to represent him In all matters al
any meeting OF the board of directors, wheth
er general or special.
Article VI.-Whenever this corporation
NAV dissolve either by limitation or by any
other cause whatsoever, its affairs shall b'
liouidated by three 81 stockholders 10 b'
APPOINTED at a general meeting of the stock
holders for the purpose or liquidation, a.
hereinafter provided, each share being en-
titled to one vote in person or by proxy. Salt
commissioners shall remain in othce unit
the affairs of said corporation shall have
been fully settled and liquidated, and shall
have full authority and power to transfer
and give title to all the assets and property
of the corporation. In case of death. diSa
bility or resignation Of one or more of salt
commissioners. the vacancy shall be flleC
by election by the surviving commissions
or commissioners.
The stockholders are especially empowered
by three-fourths vote of the entire stock
cast at a meeting called for that purpose
TO sell the entire assets Of this corporal lon
either for cash or for stock in some othe
corporation.
Before any stockholder shall make sail
of his stock he shall offer same to his co
stockholders. who shall have the preference
over outside parties In the purchase OF salt
stock. provided the prices offered by then
be equal to those available elsewhere.
Article VII.-This act of the corporation
NAV be modified or altered. or said corpor
alton may be dissolved. with the assent o
three-fourths of the capital stock represented
at a general meeting Of the stockholders con
yened Tor such purpose, after previous motto
shall have been given In one or more dali.
newspapers published in New Orleans tire
times within the ten days next preceding