The Caucasian., 1913-10-26

thorized to begin business when ten
thousand (SiOOO0.0O) dollars of the
capital stock is subscribed and paid
for. The capital stock shall be paid
for in cash or the same may be is
sued at not less than par in payment
or exchange for property or rights
actually received or purchased by
l the corporation or the same may be
issued fully paid for money ad-
vanced and for such other valuable
consideration or services as the
board of directors may determine,
provided that no stock shall be is
sued until the consideration there
| for shall have been received by the
!corporation. No transfer Of stock
shall affect OF be binding upon the
corporation unless made upon its
books at its office in the City Of
Shreveport and then only on sur
render of the certificate thereof,
provided further that no stockhold-
er shall transfer his stock until he
has paid all Indebtedness due the
corporation, and provided that said
corporation shall have lien and
privilege upon said stock to the ex-
tent of its said Indebtedness.
ARTICLE v. \.
The corporate powers Of this cor
poration are hereby vested in and
shall be exercised by board Of dl-
rectors composed Of three stock
holders, provided that no person
shall be eligible as director who is
not the owner of at least one share
of the common stock of the cOrpor
alton. The officers of this corpora
ton shall be a president, vice
president and secretary-treasurer,
who shall be elected annually by the
| board of directors from among Their
own number. The first board OF dl-
"ectors shall be Lazarus Wise, Chas.
A. Bartsch and Jules Levy, with
Lazarus Wise as president, JuIes
Levy as vice president, and Charles
a. Rartsch as secretary-treaSCrer.
| Hhp said officers and directors sail
| held office until the first Monday in
| October 1914, or until their success
sors are elected and qualltie !. On
| the first Monday in October 1914 and
annually thereafter a board of di
rectors shall be elected. unless SAID
day shall be9a legal holiday. when
| the election shall be held on the
first secular day following, and the
directors so elected shall hold office
until their successors are elected
and qualified. Ten days prior notice
of said election shall be given,
either by publication in one of the
newspapers published in the City of
Shreveport, La, or by written notice
by mail addressed to each holder OF
common stock at his last known
place Of address as shown by the
books of the corporation. Only one
/ method or mode of notice shall be
required A majority of votes cast
1 SIIdlI lIlt ClCOb1OI HC DOui
of directors shall elect or appoint
such other officers, agents, en-
| ployes, servants or clerks as it may
deem necessary for conducting the
business of the corporation, fix the
compensation and term Of service,
with the right to dismiss them at
the boards pleasure: and the said
board shall have the right to fix and
| determine the salaries Of the sew
| eral officers herein provided, and
shall have the power and authority
to establish branch offices of the
corporation at such other places in
| the State of Louisiana or elsewhere
outside Of the City of Shreveport as
in its opinion the business and con-
venience Of the corporation may
justify and require, and shall fix
the compensation of the agents and
employees thereof. A majority of the
board of directors shall constitute al
quorum for the transaction of busi-
ness; vacancies in the board of di-
rectors shall be filled by the remain
ing directors. All contracts for the
purchase, sale, lease, mortgage orl
otherwise acquiring or disposing of|
real estate or rights therein must be
signed by both the president and the
secretary-treasurer.
ARTICLE VI
At all meetings of the stOckhold-
erS of the corporation, except as
otherwise provided herein, each
share Of stock shall entitle the
holder thereof, either in person or
by proxy, to one vote, and major
ity of votes cast shall control; and
ten days prior notice of such meet
ings shall be given by written no.
tice mailed to each stockholder of
record or by publication in a news
paper published in the City Of
L. II r