The Caucasian. (Shreveport, La.) 1900-192?, 1913-06-12


with its charter, shall exist anC
continue for the period Of twenty
five (25) years from and after the
date hereof. The president,) or, il
his absence, the vice president shall
be the proper person upon whom
citation or other legal process shall
be served.
ARTICLE II.
The objects and purposes for
which this corporation is organ
lied, and the nature of the business
TO be carried on by it are declared
TO be the following, to-wit: The
purchase and sale of all classes OF
live stock, and real and personal
property, to mortgage and pledge
the same, to build and erect barns
or other buildings, and do any and
all things necessary and convenient
to carry on the business of said
corporation.
ARTICLE III.
The capital stock of the said cor
poration shall be twenty-five thou
sand and no-iOO ($25,O000O dollars,
divided into and represented by two
hundred and fifty shares of the sum
Of one hundred and no-10O (SiOO0O
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-
.ided 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 in 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 On
surrender of the certificate there
for. No transfer of any fractional
part of a share shall be made. This
corporation shall commence doing
business as soon as three thousand
and no-iOO (S3,OOO.0O) 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 board of three 90 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-
Lutte 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-
bic 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 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 at
least ten Q0) 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-
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 president
shall, by appointment, fill the va
cancy. Any failure from any cause
whatever to elect directors the day
named for that purpose shall not
dissolve the corporation; but the
directors then in Office, as we'll as
he officers of said company, shall
hold over until their successors are
chosen. In such event the president
shall cauSe another election to be