The herald., 1913-02-27
ARTICLE ".

The capital stock of the said corporation
is hereby fixed at six thousand dollars 1885,
OOO.O O). divided into and represented by one
hundred and twenty 02Ol shares OF hfty
said stock or any part thereof may be issued
and delivered TO any person, firm or corpor-
alton for the requirement OF rights, prlvl-
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
instalments 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 or dlrec-
tors as hereinafter created Is especially au-
thorized to dispose of the stock OF 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 (S3,OOOOO) OF Its stock
shall have been subscribed.
ARTICLE V.
All the powers of this corporation shall be
| vested in and exercised by the board or dlrec-
tors. composed of five 90 stockholders, any
| three of whom shall constitute quorum Tor
| the transaction 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
| flee of the corporation under the supervision
of three (3) commissioners 10 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
i notice shall be given by mailing 10 each
n.
i books of the company, at his last designated
. | address or to the General Delivery at New
Il Orleans, IL he has not designated an address
an announcement stating the time and tht
place OF the meeting. Each shareholder
Il shall be entitled to one vote for each share
of stock standing in his name on the book
Of the company. cast in person or by proxy
and the majority Of the votes cast shal
elect The board of directors shall have tn
power to fill all vacancies that may occur oil
the board. Failure to elect directors on III
day above specified shall not dissolve tn
corporation. but the directors then In of1c
II shall remain In Office until their successor
!, are elected and qualified.
Il Due notice OF another election shall forth
with be given, as above provided Such no
tice of election shall he continued 10 D
Il given until an election Is held The boar
j, | of directors at the first meeting following
an annual election shall elect from thei
number a president, vice-preSident sec
rotary and treasurer, all or whom snail D
r.
| board shall deem necessary. The board sha
have the power in its discretion TO unite tw
y 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 Q
all officers and of such other officers as the
:, deem necessary. The board of director
ri shall have the power TO make and establis
= rs well as alter and amend all bylaws, rule
: and regulations necessary and proper II
a the support and management of the bushes
= and affairs OF this corporation, not incol
= sistent with its charter.
r The said board shall also have full powt
Q and authority to borrow money through II
: lpresident or some other duly authorized age1
d or agents: to execute mortgages and isst
n notes bonds or other obligations in such
, manner and on such terms as in their jud
d ment may be advantageous, and general
t TO do all the things necessary for the props
IS carving on of the business Of the said co
> poration; as also to issue and deliver FL
d paid shares of stocks and bonds or oth'
:, obligations of the said corporation In pa
> ment Of the money borrowed or money, i
l. Dor. services, property or rights actually r
l. ceived by the said corporation. as heretOfo
o set forth. At any meeting OF the board
a directors, any director absent from the NEE
ie ing may be represented by any other dire
IS tor. who may east the vote OF said abse
b. director, according 10 the written instru
lions of the said absent director. The boa