The herald. [volume] (New Orleans, La.) 1905-1953, 1914-06-04

its stockholders and any and all other per
sons and organizations that II may desire to
serve.
o. To collect accounts and claims of every
kind and nature and to charge fees or other
considerations therefor.
Cc) To adopt and advocate the general use
of such uniform rules and regulations per
tanning TO the credit and collection depart
ment Of businesses as shall tend 10 prOmo:;e,
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, or any other evidences 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 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 IN-The capital stock OF this
corporation is hereby fixed at the sum of Fiji
ty Thousand Dollars 100000. divided into
and represented by five hundred (S0O) shares
Of the par value OF one hundred dollars
(SlOOUO each. This company shall have the
right to commence business and be a going
concern when fifteen thousand dollars ISIS,
OOO.OO of the capital stock shall have beer
subscribed for All stock subscribed for shall
be paid for in cash or property received upor
such terms ami 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 Their
in office, and no other stock shall be ISSUED
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 sc
far as the corporation is concerned, unles:
1. IL, l., L. h
ARTICLE V. All powers of this corpora
ton shall be vested in and the business and
affairs shall be managed by board OF d.
rectors to consist of NOT less than three moi
more than nine stockholders, who shall be
elected annually at a meeting of the stock
holders on the fourth Tuesday of January Of
each and every year, except the first board
of directors, who are declared to be Clar'
ence o. Wilcox, Owen T. Parker and Lewis
q. 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 II
person or mailed to his last known address a.
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 fot each share OF stock
standing in his name on the books of til,
company at the date of such election or meet
ing; said votes to be cast in person or by
written proxy, and a majority Of the vote:
shall elect.
The failure to elect directors at the annua
meeting shall not dissolve or affect the cor
poration nor impair its management in any
respect, but the directors in Office shall re
main in office until rneir successors arr
elected and qualified.
Each board of directors shall elect as soor
as possible after their own election a presi
dent, vice president, secretary and treasurer
and any two of the offices of said corporation
except those of president and vice president
may be held by one and the same person d
the same time.
The first officers of the corporation shall bt
as follows:
Clarence o. Wilcox, president; Owen r
Parker, vice president and secretary, anC
Lewis O. Shackelford, treasurer, who shall
hold Office until their successors are duly
elected and qualified.
All vacancies in the board for whatever
cause shall be filled by the remaining drec
tors. Any member of the board may appoint