The Caucasian. (Shreveport, La.) 1900-192?, 1913-06-19

all things necessary and convenient
to carry On the business OF SAID
corporation.
ARTICLE Ill
The capital stock of the said cor
poration shall be twenty-five thou
sand and no-t0O 1925, 100000 dollars.
divided into and represented by two
hundred and fifty shares of the SUM
of one hundred and nO-i00 (Si0OO0l
dollars each, which said stock shall
be paid for in cash at the time OF
subscription, or the same may be is
sued, at not less than par, in pay
ment or exchange for property or
rights actually received or pur-
chased by said corporation, or the
same may be issued full paid for
money advanced, and for such other
valuable consideration or services
as the board of directors of said
corporation may determine: pro-
sided that no stock shall be issued
until the consideration therefor has
been received by the said corpora
ton. Any stakeholder may sell, as
sign or transfer his stock in this
corporation provided thirty 800
days prior notice of such intention
to sell, assign or transfer the same
be given the company, and the other
stockholders thereof shall have the
first privilege of purchasing same,
after which thirty days notice the
said stock may be sold i'll open
market. The stock of said corpora
ton may be transferred under the
above conditions, provided such
transfer thereof be made on the
books of said company at its office
in the City of Shreveport, and or
surrender of the certificate there
for. No transfer of any fractional
part of share shall be made. This
corporation shall commence doing
business as soon as three thousand
and no-1W ($3,OOO.OO) dollars of the
capital stock shall have been sub
scribed for. The board of directors
shall have the right to determine
how much stock shall be issued.
ARTICLE ".
The corporate powers of this
company shall be vested in and ex-
ercised by a board of three 81 di-
rectors, consisting of the president,
vice president and secretary-treas-
urer. Two (2) of said board shall
constitute a quorum, and their de-
cisions shall be valid corporate acts.
The following persons shall cOnsti-
ute the first board of directors:
William r. Cavett, president; Sam
uel B. Hicks, vice president; and R.
Emmett Comegys, secretary and
treasurer. No person shall be eligi-
BILE as director or an officer who is
not a 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 flrst 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 (i0) days continuous pub
LEGATION Immediately preceding each
election in one of the daily newspa-
pers in the City of Shreveport; and
the board of directors shall ap-
lpoint 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.
lcancy. Any failure from any cause
whatever to elect directors the da,
named for that purpose shall no
j dissolve the corporation; but thu
directors then in Office, as well al
The officers of said company, shall
hold over until their successors ar
chosen. In such event the presiden
shall cause another election to b.
held within thirty days, and shall
give notice thereof as hereinabov'
provided. At every election AM
, meeting each stakeholder shall b.
, entitled to vote for each share 0
I, stock registered in his name, an
. may vote by proxy. The election o
directors shall be by ballot, and tn
!: majority in amount of votes cas-
r each share of stock voted upon t.
: be counted for one vote, shall cleo
the person or persons for whor
! they have been cast. After eac
g election the board of directors sha
n elect from their own number tn
! officers of said company.
g. AQTJCI