The Era-leader. [volume] (Franklinton, La.) 1910-current, 1914-02-12

and do all acts necessary and proper
for the conduct and maintenance of the
business as above outlined, or as Incl
dental thereto.
ARTICLE ".
The capital stock of this corporation
shall be TEN THOUSAND ($1O,000.00)
DOLLARS, divided into and represented
by One Hundred Shares of stock at the
par value of One Hundred Dollars each:
said stock shall be paid for in cash
at the time of subscription, or as the
same is issued. for not less than par,
or in payment or in exchange for prop
erty actually received or purchased by
this corporation, OR for work or SER
vices actually rendered.
This corporation may commence do
ing business and shall be going con-
Germ as soon as Three Thousand
shall have been subscribed for. The
Board of Directors shall have the right
to determine how much stock shall be
issued after the first Three Thousand
Dollars of it's capital stock shall have
been issued.
Any stockholder may sell, assign or
transfer his stock in this corporation
no transfer of stock shall be made
unless the same is transferred on the
books Of this corporation at it's office
ARTICLE V.
The corporate powers of this cor
poratlon shall be vested in and eXer.
cised by a Board of Directors com
posed Of three stockholders and theil
decisions and acts shall bind this cor
poration. The first election of the
Board of Directors under this charter
snail be held at a meeting of the
stockholders to be held at the office OF
the corporation on the first Monday
stockholders shall elect a board of di.
rectors on the first Monday in Jan.
uary of each year. who shall serve
until their successors shall have beer
elected and qualified The Board OF
Directors shall elect from among theil
number their officers, which shall b,
President, Vice President, Secretary
and Treasurer shall be held by the
same stockholder. No person shall be
eligible as director, or hold an office
in this corporation who is not stock
holder; during the absence Of tn,
President the Vice-President shall ac
and preside in his stead. Notice Of the
election of the Board of Directors shall
to each stockholder at his usual place
of business ten days prior to said cleo
ton, and the Board of Directors shall
appoint one of the stockholders to pre-.
side at said election; and in the even
that said stakeholder shall fail to at.
tend, the President shall appoint
stockholder to fill his vacancy: any
failure, for any cause whatever, to cleo,
directors on the day named for that
purpose shall not dissolve this cor.
poration, but the directors then in of
flee and the incumbent officers shall
continue to serve until their successors
are chosen. At every election anG
meeting of the stockholders, each
stakeholder shall be entitled to one
vote for each share of stock registered
in his name. and the vote of the stock
holders may be cast by proxy The
election Of directors shall be by baIIo,
and the majority in the amount OF
votes cast, each share of stock being
counted as one vote, shall elect the per.
son or persons for whom they are cast
The first Board of this corporation
shall be composed of w NJ. Darlington
Miss Ellen Darlington and r. NJ. Bah.
ington, of whom W. NJ. Darlington shall
be President, Miss Ellen Darlington
! ce-President, and r. NJ Darlington
Secretary and Treasurer. who shall
serve until their successors shall have
been elected and qualified.