The herald. [volume] (New Orleans, La.) 1905-1953, 1913-03-06
ARTICLE ".

The capital stock Of the said corporation
Is hereby fixed at six thousand dollars tSo,-
100000, divided into and represented by one
hundred and twenty (120) shares OF fifty |
dollars (S5000) each. The whole OF the
said stock or any part thereof may be issued
and delivered TO any person, hrm or corpor-
alton for the requirement OF rights, prNl-
leges, franchises and property purchased and
acquired by this corporation, also In pay
ment, settlement and adjustment OF the
costs, fees, charges and expenses and COM
mission incurred for services rendered In
the formation and organization or this cor
poration and in acquiring and bringing about
the purchase of the property, rights ana
franchises, aforesaid; also for cash or In
installments of such amounts as the board
Of directors may determine; also for mer-
chandlse received or services actually rem
dered to this company. The board or dlrec-
tors as hereinafter created is especially au-
thorized to dispose OF the stock or this com.
pany in whole or In part, for any and all or
the purposes above stated, as in Its Judg-
ment may seem fair and proper. This COM
pany shall begin business as soon as three
thousand dollars ($3,0OO.OO) OF Its stock
shall have been subscribed.
ARTICLE V.
All the powers of this corporation shall be
vested in and exercised by the board OF dlrec-
tors, composed OF five (5) stockholders, any
three of whom shall constitute quorum Tor
the transact of business. The said BOARD
of directors shall be elected annually on the
last Wednesday In January OF each year.
The first election TO be held In the year 1914.
All elections shall be by ballot at the Of
fee of the corporation under the supervision
of three (3) commissioners to be appointed
by the board of directors, and, in the alb
sence of any commissioner, the president
shall have the power to fill the place by ap.
pointment and Of all such elections as well
as meetings of stockholders, except for the
| purpose of liquidation or dissolution, or as
otherwise required by law, ten (1O) days
| notice shall be given by mailing 10 eacn
4 NNRh
books of the company, at his last designated
| address or to the General Delivery at New
Orleans IL he has not designated an addres
an announcement stating the time and thu
place OF the meeting. Each shareholdeI
| Shall be entitled to one vote for each shar'
| of stock standing In his name on the DOCK
i OF the company, cast In person or by proxy
/ and the majority Of the votes east shal
elect. The board OF directors snail nave IN
power to fill all vacancies that may occur Of
the board. Failure to elect directors on IN
day above specified shall not dissolve tn
l corporation. but the directors then In onic
shall remain In othce until their successor
are elected and qualified.
II Due notice Of another election shall forth
with be given, as above provided. Such ne
tice OF election shall be continued 10
, given until an election Is held; the boar
!, of directors at the first meeting followin
an annual election shall elect from thei
number a president, a vice-president, SCI
!, rotary and a treasurer, all or whom snail :
. stockholders. ana Suc0 OIner Objects as III
hoard shall deem necessary. The board sha
have the power In Its discretion to unite tw
/, or more Of the above or other Offices an
! the same to confer upon one person, an
shall have the power to fix the salaries I
ali officers and Of such other officers as the
> deem necessary. The board OF directo
q shall have the power to make and establis
= as well as alter and amend all bylaws, rul
, and regulations necessary and proper 4
= the support and management Of the busine
= and affairs OF this corporation, not inco
: sistent with It's charter.
r The said board shall also have full pow
I'll and authority to borrow money through q
j. lpresident or some other duly authorized age
d or agents; to execute mortgages and ISIS
n notes, bonds or other obligations in such
J. manner and on such terms as in their jud
d ment may be advantageous, and general
I to do all the things necessary for the prop
sl carving on OF the business Of the said CO
}. poration as also TO issue and deliver Il
d paid shares of stocks and bonds or 9th
!. obligations OF the said corporation In pa
p ment Of the money borrowed or money,
J. bor services, property or rights actually
n ceiyed by the said corporation, as heretofc
o set forth. At any meeting of the board
dl directors, any director absent from the me
;e ing may be represented by any other dir
% tor who may cast the vote OF said abse
h. director, according to the written instr
lions Of the said absent director. The boa