The Caucasian. (Shreveport, La.) 1900-192?, 1913-05-25

o NAV be issued full paid for
s sa advanced, and for sucn o'ne es
.,slnahle consideration or sefVioss
as the board of directors OF SOU
ao may determine; pro,
;dad that no stock shall be lssuea
mill the consideration therefor n"'
heen received by the said corpora
tion ANY stakeholder may SELL 40.
sign or transfer his stock III [ tno9
CORPORATION provided thirty Iool
DAYS prior notice of such lntentloll
to sell assign or transfer the same
he given the company, and the other
Stockholders thereof shall nave 'he
first privilege of purchasing SAM
after which thirty days notice 'ne
said stock may be sold in open
market The stock of said corpora
tion NAV be transferred under tne
above conditions, PROVIDED su1n
transfer thereof be mace OH oho
books of said company at It's ONCE
in the City of Shreveport, and OH
surrender of the certificate there
for No transfer of any fractionai
part of a share shall be made. ms
cornoration shall commence doliis
business as soon as three thousand
and no-iOo (s3,OOO.OO) dollars OF the
capitaI stock shall have been SUD
scribed for. The board OF directors
shall have the right to determine
how much stock shall be issued.
ARTICLE Nv.
The corporate powers OF TINS
company shall be vested in and ex-
ercised by a board OF three (3) dl-
rectors. consisting of the president
vice president and secretary-treas-
urer. Two ~ of said board shall
constitute a quorum, and their de-
cisions shall be valid corporate acts
The following persons shall constl-
tute the first board OF directors
William R. Cavett, president; sam
uel B. Hicks, vice president; and X
Emmett Comegys, secretary and
treasurer. No person shall be eflgl-
Bile as director or an officer who IS
not stakeholder of this company
During the absence of the president
the vice president shall act and pre-
side. Said board shall continue in
office until the first Tuesday IN
June 1914, on which date and there
after annually board of directors
shall be elected each year, unless
the same should be holiday, when
the election shall be held on the
next legal day thereafter. Notice OF
such election shall be given by al
least ten N0) days continuous pub
LEGATION Immediately preceding each
election in one of the daily newspa-
pers in the City of Shreveport; anC
the board of directors shall ap-
point one or more stockholders to
preside at such election as COM
missioners. In the event of the fail
ure of any commissioner or COM
missioners to attend, the presiden
shall, by appointment, fill the va.
caney. Any failure from any caust
whatever to elect directors the day
named for that purpose shall no
dissolve the corporation; but thu
directors then in office, as we'll a.
the officers of said company, shall
hold over until their successors arr
!, chosen. In such event the presiden
shall cause another election to BIZ
held within thirty days, and shall
give notice thereof as hereinabovt
provided. At every election ant
meeting each stakeholder shall be
entitled to vote for each share oil
stock registered in his name, AM
may vote by proxy. The election O.
directors shall be by ballot, and thu
] majority in amount of votes cast
each share of stock voted upon te
j be counted for one vote, shall elee
ehS PCloOAl VI pCIcOiIS lOf WIlOII
they have been cast. After eacf
election the board of directors shall
elect from their own number thu
officers of said company.
ARTICLE v.
The board of directors shall hav,
full power to fill vacancies in thei1
number caused by death, resigna
ton OF otherwise from among tn.
stockholders of the corporation
The said board shall have full con.
troll of the property Of this com.
pany, and shall so conduct, man.
age and use the same as in thei1
discretion they deem fit, and that j
consistent with the objects of thi
company or the welfare of the same
The said board is further author
lied to frame and adopt such nv.
laws, rules and regulations as tn,
affairs and business of the corpor.
alton may require, and as it ma,
deem necessary for the conductin.
and management thereof. nrovide,