The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1913-04-19

tail or wholesale; to purchase, hold,
lease, own, mortgage, pledge, sell, con-
property, real, personal and mixed; to
buy, sell and deal in all manner of
building material, and generally to do
all acts and things necessary, incident
I or proper in carrying out the purposes
of this corporation
ARTICLE ".
The capital stock of this corporation
Is hereby fixed at the sum Of ten
| thousand (SlV,Uu0) dollars, divided inlo
and represented by. one hundred (100)
shares of the par value of one hundred
dollars each, which said stock shall be
paid for in cash at the time OF sub
scliption, or the same may be issued at
not less tnan par in payment or ex-
change for property or rights actually
received or purchased by said corpora
ton, or the same may be issued fully
paid for money advanced or for sucn
other valuable consideration as the
board OF directors may determine; i.
ylded. no stock shall be issued until the
consideration therefor is actually re-
ceiVed by the corporation.
ANY stockholder may sell, assign or
transfer his stock in this corporation
provided thirty days prior notice Of
such intention to sell, assign or transfer
the same be given to the company, and
the other stockholders thereof shall
nave the first privilege OF purchasing
the same, after which thirty DAYS the
stock may be sold in open market,
Tine stock OF said corporation may be
transferred under the above conditions
provided such transfer thereof be made
on on the books ds o. the company at its Of
on surrender of the certificate therefor
No transfer OF fractional share shall
be made.
This corporation shall commence do
ing business and become a going con-
Germ as soon as three thousand dollars
OF Its capital stock shall have been sub
seribed therefor. The board of directors
shall have power TO determine how
much stock shall be issued
ARTICLE Y.
The corporate powers of this corpora
ton shall be vested in and exercised by
a board of five directors, consisting of
me TIE following Officers. to-Wit: A pres
q see fs mofty a q aafd baayd
shall constitute rs it Quorum for the trans
action Of business, and their decision
shall be valid corporate acts
az, me following persons shall constt
lute the BOARD o.. directors, to-wit: S.
Ioette. 4. N. Sims, J. Rumsey Duke.
Z. q. Duke, H.. Vernon Sims, with r. n
Sims as president. H, Vernon Sims as
as pfgfslaen ana j. Rumsey Duke
No person. shall be eligible as a di-
rector or officer who is not a stock
holder The above board of directors
ana e., officers shall continue in office
on which day and annually thereafter =
BOARD % I'd Of # five directors shall be select
ca on the second Tuesday of March Of
each year, unless the said day should
be a legal holiday, in which case the
election will be held the day following.
Notice of such election shall be given F.
each stakeholder by mailing a notice at
ms ms last known place of residences at
lsasl ten days preceding such meeting,
provided an acknowledgment of such
notice shall be sufficient, which acknoWl
edsment shall be spread upon the min
utes Of the board. The stockholders
shall appoint one cor more stackhoJders
a 70 preside re- as commissioners at such
stIiectloH, ana Il for any reason an cleo
ton is not held en-, the day appointed
the same officers, shall hold over and
L t,1 president snaI at once call another
At said meeting each stockhoIler shan
o oe EMIT entitled d., to one vote for each share
o. STOCK neIo oy aim, and may vote by
proxy The manner of conducting The
election 81 s:st1s n, shall be decided upon by the
stockholders, and "a majority In num-
s. - - q : :