The herald., 1913-03-27
ARTICLE ".

The capital stock Of the said corpora ton
Is hereby fixed at six thousand dollars (S6,
OOO.0O), divided into and represented by one
hundred and twenty (12O) shares Of fifty
dollars lS5OOO) each The whole of the
said stock or any part thereof may be issued
and delivered TO any person, firm or corpor-
alton for the requirement of rights priyi-
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
i mission incurred for services rendered In
the formation and organization Of this cor
poration, and In acquiring and bringing about
the purchase OF the property, rights and
franchises, aforesaid; also for cash or in
installments of such amounts as the board
OF directors may determine; also for mer-
chandise received or services actually rem
dered to this company. The board Of direc-
tors as hereinafter created Is especially au-
thorized TO dispose Of the stock OF this CON-
pany In whole or In part, for any and all of
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 (s3,0OO.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 direc-
tors composed Of five 90 stockholders, any
three of whom shall constitute a quorum for
the transaction of business. The said board
OF directors shall be elected annually on the
IT,
The first election to be held In the year 1914
All elections shall be by ballot at the Of
nee or 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 a 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 to each
stakeholder who appears as such upon the
books OF the company, at his last designated
address or to the General Delivery at New
Orleans, II he has not designated an address.
an announcement stating the time and the
place OF the meeting. Each shareholder
shall be entitled to one vote for each share
or stock standing In his name on the books
OF the company, cast In person or by proxy,
and the majority Of the votes cast shall
elect The board OF directors shall have the
power to ill all vacancies that may occur on
the board. Failure to elect directors on the
day above specified shall not dissolve the
corporation, but the directors then in office
shall remain in office until their successors
are elected and qualified.
Due notice Of another election shall forth
with be given, as above provided. Such no.
tice OF election shall be continued to be
given until an election Is held. The board
Of directors at the first meeting following
an annual election shall elect from their
number president, a vice-president, a sec
rotary and a treasurer, all OF whom shall be
stockholders, and such other officers as the
board shall deem necessary. The board shall
have the power In Its discretion to unite two
or more Of the above or other Offices and
the same to confer upon one person, and
shall have the power to fix the salaries of
all officers and Of such other officers as they
deem necessary. The board OF directors
shall have the power to make and establish
as well as alter and amend all bylaws rules
and regulations necessary and proper for
the support and management OF the business
and affairs of this corporation, not incon-
sistent with its charter.
The said board shall also have full power
and authority to borrow money through the
president or some other duly authorized agent
or agents; to execute mortgages and issue
notes, bonds or other obligations in such a
manner and on such terms as In their judg.
ment may be advantageous, and generally
to do all the things necessary for the proper
carrying on OF the business of the said cor
poration; as also to issue and deliver full
paid shares of stocks and bonds or other
obligations Of the said corporation in paw
ment OF the money borrowed or money. Ia
Dor, services. property or rights actually re-
ceived by the said corporation, as heretofore
set forth. At any meeting Of the board of
directors, any director absent from the meet
ing may be represented by any other direc-
tor, who may cast the vote Of said absent
director, according to the written instruc-
lions OF the said absent director. The boa I'd