The herald. [volume] (New Orleans, La.) 1905-1953, 1913-09-18

deal in pumps, drills, fuses, caps, candles
nitrOglycerine, dynamite. and the necessar,
machinery, engines, drills and all appli
ances and cOnveniences for the use in con
nection with mining and drilling for oil and
gas; and generally 10 do all things lnclden
tai to and everything necessary to carry out
the said objects and purposes of this cor
pOratiOn.
Article Iv.-The capital stock Of this cor
poration is hereby fixed at the sum of one
hundred fifty thousand dollars (SlJO,OOOD
divided into and represented by thirty thou
sand l30,000D shares of stock at the par
value OF five $500 dollars per share. Said
stock shall be paid for in cash, or in such
installments. and at such time, and after
such notice to the subscribers as the board
OF directors may fix, or the same may be
issued at not less than par for labor done
or services performed for the said corpora
tion, or for property or rights actually re-
ceived by SAID corporation.
This corporation may become going CON
Germ and shall be authorized TO commence
business when and as soon as three thou
sand dollars (S3 .000.O0l of its capital stock
shall have been subscribed for.
Article V.-All of the corporate powers
OF said corporation shall be vested in and
exercised by a board of directors to be com
posed Of five (5) stockholders to be elected
annual on the fourth Monday of January
in each year.
shall be held and conducted at the office
of this corporation under such regulations
as may be established by the board Of di-
rectors.
Notice of such elections shall be given
by the secretary OF this corporation by pub
licatiOn of not less than ten days, prior
thereto in daily newspaper published in
the English language, in the city of New
Orleans.
At AL such elections and at all corporate
meetings, every stakeholder shall be entitled
to one vote for each share OF stock standing
in his name on the books of this corpora
ton, to be cast by him in person, or by
written proxy, and the majority of such
votes cast shall elect.
Any vacancy occurring among the direc-
tors of Il IS corporation by death, resignation
or otherwise, shall be filled by election for
the unexpired term by the remaining direc-
tors.
A failure to elect directors on the date
above specified shall not dissolve the cOrpOr-
alton, nor impair Its corporate existence.
but the directors then In office shall remain
in office until their successors shall have
been duly elected and qualified.
The board of directors shall at its meet
ing elect from among its members a presi
dent, a vice-president, a secretary and a
treasurer, or one person to act as both sec
rotary and treasurer, as 1t may determine
when the Office Of secretary shall be held
separately it may be occupied by one other
than a stakeholder.
The Yoard of directors from time to time
may name and appoint all such other Off
GERS and agents as 1t may deem necessary
for the purpose and business Of this cOrpor
alton. The said board shall have power
to fix and define the duties of every Of1cel
and employee and all officers and employees
| shall hold ONCE and employment at the
| pleasure of the board. The board may
make and establish, as well as alter anC
amend. all such bylaws, rules and regula
| tons necessary and proper in its judgment
| for the conduct and management of the
| business and affairs of such corporation
| The board OF directors shall have full power
and authority to borrow money, to execute
| mortgages, and to create liens, 10 Issue
| bonds, notes and other obligations, and th'
| same to secure by mortgage, pledge or other
wise and generally to do any and all things
reasonaDIe, convenient and necessary fol
| the proper carrying on of the business ant
affairs of said corporation.
The board Of directors may issue full-paiC
| shares of stock for cash, or In payment Of
LABOR done or services performed for thii
| corporation or property or rights actually
| eceived by this corporation.
All transfers of stock shall be made OF
| the books or the company, and under sucl
rules and regulations as the board of direc
tors may prescribe.
Article VI-The following shall consti
tute the first board of directors W. c. Love
| don and F. III. Rice, with W G. Lovejoy al
| president, E. A Wagner as vice-president
and ]. ". Sheldon as secretary and treasurer
The saIu board of directors shall hold of
fee until the fourth Monday OF January
1916, and until their successors shall hav
been duly elected and qualified.
| Article NlI-Whenever this corporation
shall be dissolved, either by limitation, o
| from any other cause, its affairs shall b
| liquidated by three commissioners TO be ap
pointed from among the stockholders at
| general meeting Of the stockholders convene-
| for such purpose OF which meeting motto
| shall be given In the manner and time pro
| vided for stockholders meetings by Articl
| VIII OF this charter, and a majority II
| amount Of the capital stock of said corpor
alton, represented at such meeting, shall b
| requisite to elect. Said commissioners shal
remain IN Office until the affairs Of sad col
| poration shall have been duly liqufdated. Il
case of the death OF one or more of sal
commissioners, the vacancy SHALL be file
by the surviving commissioners.
| Article VIII.-This act OF incorporate
may be modified changed or altered, or sal
corporation may be dissolved with the cor
sent of three-fourths (3-4) of the capita
stock represented at a general meeting Q
the stockholders convened for such purpos'
and after notice shall have been given |
one or more newspapers published In th
city of New Orleans, once a week for fou
weeks preceding the meeting, and by wri
ten notice to each stakeholder mailed
him to his last known place of business, {
domicile. thirty days prior to the date {
the meeting.
4 Any change proposed or made In referenc
to the capital stock, shall be made in accor'
anee with the laws of the state of Louis
!; ana, on the subject Of altering the capiti
stock Of corporations"