The herald., 1914-07-30
BREAD 2pI 7f';!!' ;!Rs
E55Rfss 81 sj5Rf 81 atLALA'S GROCERY.

On January / and July |, of each year, the
board Of directors shall ascertain the earnings
Of the association for the preceding SIX
months, and out OF such earnings they shah
deduct all the expenses of the association Gor
such time, and the balance remaining, afte,
setting aside, If the directors see mt, such
amount as they shall deem best to a fund
for contingent losses or a surplus account,
holders. The dIviderds declared on current
stock shall be credited or, the pass books OF
the members semi-annually; and, dividends
on paid-up stock shall be paid in cash
within thirty days from the first of January
Article V.-The corporate powers of this
ciscd by a board of directors, to consist or
not less than nine or more than thirty FIVE,
as may be fixed by the bylaws of this assD-
ciation each OF whom shall have in force
corporation. They shall be elected by the
stockholders the second Wednesday in
March, 1917 and annually thereafter. Any
director ceasing to have in force ten shares
of stock shall ipso iacto forfeit his seat on
the board of directors.
Notice of said election shall be given by
publication, three times in ten days IN one one
Of the daily newspapers in the, city OF New
Orleans The election shall be by balo,
and shall be held at the domicile of the
corporation under the supervision OF three
stockholders, who shall not be candidates
for election appointed by the board OF di-
rectors at the last preceding regular meeting
thereof.
Each share of stock which has been in force
for sixty days preceding any stockholders
meeting and represented thereat, shall be
entitled to one vote; provided, no stockholdei
shall cast more. than thirty votes IN ms own
name irrespective of the number OF shares
owned by him. The stockholders receiving
a plurality of the votes cast shall be de
clared elected. The failure to hold an cleo
tion on the day designated shall not dissolve
the corporation, but the directors III office shall
serve until their successors are elected.
Should no election be held on the day spccr-
fed the board shall fix another day. due
notice of which shall be given as above pro-
vided.
The board of directors shall meet and OF
ganize within twenty days after their cleo
ton. Five directors shall constitute quo
run for the transaction of business. The di-
rectors including the first board named IN
this charter, shall annually elect from their
number president, vice-presldent' secIetSf y
treasurer, an attorney or attorneys, ana a
notary The office of secretary and treasurer
may be held by the same person. The boara
shall appoint or elect such other ottIcers anc
employees as may be necessary. They shall
| fix the compensation OF all officers and EN-
ployes They shall have authority to enact,
repeal, or amend bylaws not repugnant to
this charter; TO select a place for meetings
to suspend all officers or employees for neg
lect of duty or misconduct, and IN case oi
any vacancy on the board of among the ON
GERS from death, resignation or any othei
cause, the directors shall have the right tc
| fill such vacancy. They shall have general
authority to carry out the objects and busl'
ness Of this association.
All loans shall be made under the control
and direction of the board of directors, who
| shall have the power to make such rules
| regulations or bylaws, regulating the same
as they may deem necessary and eNpedlent
They may delegate to 4 committee to bt
called the executive committee, such OF thS
| powers to be exercised by them as they
may see fit, particularly pertaining TO loan:
| or real estate when prompt action is required
but they shall not have the right to purchas'
real estate except for cash, or to contrac
any Indebtedness without the aihrmatlN'
| vote of at least five directors, and then onry
in furtherance of the usual and proper ousi
| ness of this association.
| Article NI.-This association shall have th'
| right and power 10 merge or consolidate VIII
any similar association or to acquire unde
| such terms and conditions as may be hNeC
| by the board Of directors, the property, as
sets rights. business, etc, OF any other cor
poration or corporations having the same op
| iects as this association, or similar OBJECTS
and TO make all necessary contracts ana ar
ranpements with such corporation or corpora
| rions and the stockholders thereof: Provided
| that no such merger or consohdatIon shSl
| take place unless three-tourhs OF the STOCK
holders of this association present 9r repTte
! sented at a special meeting called for th'
purpose shall approve and adopt such q course
| Article NII-Until the election 10 be helC
| on the second Wednesday of March, l9H
! and until their successors shall have bGer
| duly elected. the following named stockhold'
| ers and those elected by them shall conso
I tutc the first board Of directors OF this asso
citation, to-wit: Joseph F. Lescale, Victor r
| Sylvester. Edward Hayem, Andrew NJ. Buch
mann. Manuel Estalote, George A. Miller
| Adolph II. Ehrensing, Alexander Dussel
Charles F. Grundmann, Uriah ]. Virgin, Car
roll G. Johnston, Nathan Eisemann, HenrN
SrIlen, John f. " Holzer, August c. Posner
| Toseph /. Irwin, Arthur A. Moreno.
Article VIII.-No stockholder shall eve
be held liable or responsible for the contracts
| faults or debts of the association, IN an,
J further sum than the amount of his indebt
edness TO the association; nor shall any mer'
! informality in its organization have the etfec
| Of rendering this charter null, or of exposini
shareholder to any liability beyond TIT
amount due on his or their shares.
| Article IX.-This charter may be altered
| amended or this corporation dissolved b!
| vote of three-fourths of the capital stool
| subscribed for, represented at any genera