The herald., 1913-07-03

the objects and purposes hereinabove
ARTICLE III-The capital stock of
this corporation is hereby nNed at the
sum of One Hundred Thousand Dollars
(Sl00, 900 00) to be represented by lou
shares of the par value of $4,000 each,
PAYABLE in full at the time of the sub
scription. The Board of Directors shall
have the right to issue shares OF STOCK
only for cash. services rendered, mer-
chandise, property, or other valuable
considerations. as they may see fit.
ARTICLE IV-The corporate powers
and exercised by Board of Directors,
three in number. selected from the
stockholders of this corporation. ana
consisting of a President. Vice Presl-
dent and SecretaryTreaSurer, any two
of whom will constitute a quorum for
the transaction of corporate business.
The first Board of Directors shall be
elected at a meeting of stockholders to
be held after the signing of this char
ter. Said Board of Directors and on1-
GERS shall remain and hold office for
one year from the date OF their cleo
ton. or until their successors nave peen
duly elected and qualified, which cleo
ton shall take place on the third Mon
day in June. 1914, and annually there,
after. The election for directors shall
be by ballot. and the majority in
amount of stockholders voting, wheth-
er present or by proxy, shall elect the
persons for whom they are cast. Each
snare OF STOCK Voleu upon " oe Couht
ed for one vote. After each election,
the Board shall elect from their own
number the officers above named:
The Board of Directors. shall give at
of directors and shall appoint one or
more stockholders to preside at such
election. Any failure from any cause
whatsoever to elect directors on the
day named for that purpose shall not
dissolve this corporation. but the direc.
tors and officers then in office. shall
hold over until their successors are
chosen and qualified.
The Board of Directors shall have
full power and authority to fill va
cancies in their number caused by
death, resignation, or otherwise. The
said board is further authorized to
frame and adopt such bylaws, rules
and regulations as the affairs and bust
ness of the company may require, ana
il may deem necessary for the conduct,
ing and management thereof, provided
the same does not conflict with this
charter. and the laws of the state OF
Louisiana, and those OF the Unlted
manager fix his compensation and
terms of employment, as well as otner
agents. employees, as in Its discretion
may seem fit and proper.
The Board of Directors is specially
vested with the power to acquire and
purchase such property or business, or
good will, or all of these from individ-
uals or firms, or other corporations as
said Board of Directors may deem ad-
visable and proper, whether the same
be real or personal property. and at
such prices and on such terms as they
think best, and to pay therefor in the
full paid capital stock OF the corpora
ton. This power to purchase and &C,
quire to be exercised by the said board
without the necessity of referring to
the shareholders for authorization.
amended. modified or altered, or this
corporation dissolved, at general
meeting of the stockholders convened
for that purpose with the assent or the
majority of the stock which may be is
sued, present or represented at such
meeting. Thirty days notice by mail
shall be given OF such meeting; In case
OF dissolution or, termination OF TINS
corporation, the liquidation of its af-
fairs shall be conducted by three COM
missioners selected in like manner and
by like vote and assent at a meeting
called as above for that purpose.
ARTICLE Who stockholder shall
ever be liable or responsible for the
debts. contracts or faults OF this cor
poration for any further sum than the
stock subscribed for or owned by him;
nor shall any informality in the organ
ization have the effect OF rendering TINS
charter NULL or of exposing a stock
amount of the unpaid balance on his
to the stock.
ARTICLE VII-Should any stock
holder or stockowner desire to sell
or dispose of all or any part OF said
stock or relinquish his interest in the
or desire to terminate or
dissolve the same. he shall first tender
such stock, for purchase, to the other
and the other stockhold-
ers shall have the preferred right, for
sixty days, to purchase the stock SO
rendered at the price shown by the
books of the company. All stock Is
sued, or to be issued. shall be subject
to the foregoing provision.
ARTICLE VIII-The capital stock OF
this corporation may be increased or
on complying with the re-
of the law. and with such
bylaws as may be consistent with the
law. as may be hereafter adopted by
the Board of Directors. =,
ARTICLE IX-This corporation shall
be a going concern, and be authorized
to do business under this charter as
soon as the sum of Thirty-five Thou
sand Dollars (s35.O00.0o) of its stock
shall be subscribed for.
Thus done and passed in my notarial
office on the day and date first above
written. in the presence OF Messrs. 4.
A. Schuber and w. Conkerton, both