The herald., 1913-03-20
ARTICLE ".

The capital stock Of the said corporation
is hereby fixed at six thousand dollars 1885,
OOO.OO) divided into and represented by one
hundred and twenty (120) shares or nifty
dollars (S5O.0O) each. The whole or 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
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
nstallments of such amounts as the board
of directors may determine; also for mer-
chandse 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 com
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 ($3,OO0.00) 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 drec-
tors. composed Of five (5) stockholders, any
three of whom shall constitute quorum for
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 to be appointed
by the board of directors, and. in the alb
sence of any commissioner, the president
shall have the power to I'LL 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 (10) 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
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 shall
elect. The board of directors shall have thu
| power to fill all vacancies that may occur oil
| the board Failure to elect directors on tn
/, day above specified shall not dissolve tn
corporation, but the directors then in o1ic
shall remain in office until their successor
j are elected and qualified.
4 Due notice OF another election shall forth
i with be given. as above provided. Such no
tice OF election shall be continued 10 b
i given until an election Is held. The boar
OF directors at the first meeting followin
an annual election shall elect from thei
number a president, a vice-president, sec
; rotary and treasurer, all OF whom shall b
stockholders, and such other officers as tn
board shall deem necessary. The board sha
have the power In It's discretion to unite tw
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 c
| all officers and OF such other officers as the
> deem necessary. The board of director
, shall have the power to make and establis
! as we'll as alter and amend all bylaws rule
and regulations necessary and proper Il
\ the support and management OF the busine:
and affairs of this corporation, not incol
r sistent with Its charter.
r The said board shall also have full pow
2 and authority to borrow money through Il
: president or some other duly authorized agel
d or agents; to execute mortgages and issr
q notes, bonds or other obligations In such
) manner and on such terms as In their jud
ment may be advantageous, and general
{ TO do all the things necessary for the prop
8 carrying on Of the business of the said co
J, poration as also to Issue and deliver IN
paid shares of stocks and bonds or 9th
J; obligations OF the said corporation in pa
: ment Of the money borrowed or money, !
/ Dor, services. property or rights actually r
i ceived by the said corporation, as heretofo
z set forth. At any meeting of the board
d directors any director absent from the NEE
e ing may be represented by any other dire
s tor, who may cast the vote Of said abse
, director, according to the written instru
lions Of the said absent director. The boa