The herald. [volume] (New Orleans, La.) 1905-1953, 1914-05-28

its stockholders and any and all other per
sons and organizations that 1t may desire 10
serve.
CD To collect accounts and claims Of every
kind and nature and to charge fees or other
considerations therefor.
lcD To adopt and advocate the general use
Of such uniform rules and regulations per
tanning To the credit and collection depart
ucnt Of businesses as shall tend promote,
by all legal and equitable means the general
prosperity OF dealers engaged therein.
Cd To acquire, hold, own, sell or otherwise
deal in stocks, bonds, commercial paper, ac-
counts, any other egideuCes of indebted
ness Of its own or OF any other person, cor
poratiOn or organization, and to exercise any
and all privileges and powers which 4 natural
person might have or exercise in respect TO
same.
Ce) To acquire hold. deal in. own, rent,
lease, sell incumber and convey real estate.
% To transact any and all other lawful
business Of every kind and nature incidental
To any of the foregoing.
ARTICLE IV-The capital stock of this
corporation is hereby fixed at the sum of Fiji
ty Thousand Dollars (S500O0OO), divided into
and represented by five hundred $500 shares
of the par value of hundred dollars
$4,000 each. This company shall have the
right to commence business and be a going
concern when fifteen thousand dollars ISIS,
0000O) of the capital stock shall have been
subscribed for. All stock subscribed for shall
be paid for in cash or property received upon
such terms and conditions as the board of di-
reCtorS shall prescribe.
No other or further subscription TO stock
shall be received by this corporation, except
ing the original subscriptions, without the
unanimous consent OF all the directors then
by the corporation, excepting with such
unanimous consent.
No certificate of stock shall be issued until
fully paid. No transfer of stock shall be
admitted or held TO be valid or binding so
far as the corporation is concerned, unless
made upon the books of the corporation.
ARTICLE V. All powers of this corpora
tion shall be vested in and the business. and
affairs shall be managed by a board of d.
rectors to consist of not less than three nor
more than nine stockholders, who shall be
elected annually at meeting of the stock
holders or the fourth Tuesday of January of
of directors, who are declared to be Clar-
ence o. Wilcox, Owen 4. Parker and Lewis
D. Shackelford, who shall serve in that ca
pacity until their successors are duly elect
ed and qualified. All elections shall be held
by ballot at the Office or the company under
the supervision of two commissioners to be
appointed by the board of directors. Notice of
such meeting shall be given by the secretary
in writing, delivered to each stakeholder in
person or mailed to his last known address at
least fifteen days prior to such election, but
this notice may be waived by the unanimous
consent of all the stockholders.
AT all such elections and at all meetings of
the stockholders, every stakeholder shall be
entitled to one vote foi each share of stock
at the date of such election or meet
ing; said votes to be cast in person or by
written proxy, and majority of the votes
shall elect.
The failure to elect directors at the annual
meeting shall not dissolve or affect the cor
Doration nor impair its management in any
respect, but the directors in office shall re-
main in office until ,neir successors are
elected and qualified.
Each board of directors shall elect as soon
rs possible after their own election a presi-
lent, vice president, secretary and treasurer,
md any two of the offices of said corporation,
Except those of president and vice president,
nay be held by one and the same person at
he same time.
The first officers of the corporation shall be
is follows:
Clarence o. Wilcox. president; Owen r.
Parker, vice president and secretary, and
lewis O. Shackelford, treasurer who shall |
lold office until their successors are duly |
elected and qualified.
All vacancies in the board for whatever
ause shall be filled by the remaining direc- |
ors. Any member of the board may appoint