The herald., 1914-08-13
THE HER AID

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Withdrawn or paid-un stock ,haTr, ,,~lr.s
tbr-, sborIId he Ian oyr-.rrl,D1riIstl.r, o.. ftrf
which rannGt he loaned i'm The .,,-,.l mann
-rDnrr real estate
/ Nrrth-Should thc-c be an ovc~accurl'7-ior
rFr hoard Shall have the right 10 cali in nm.
pledged shares Tor redemption. provided ,Ilr
paId-rp shares shall frsr be called in IN tr,.
/ r,vrr-e order Of their issue and shall he
/ redeemed for face value plus interest for the
/ ,i-rrr intervening sine, last meeting e., ne
sane rate as the last dividend declared. and.
] should all pliJ- ND shares De. redeemed fra-r
current shares NAV he called i'm. the ,Idr,r
| Share. Il, he redeemed first and - rarfr g.,,r.
I-3yaI value. TIns interest fa- m, r,,~c ,1
I-,ryrrIrg since the date Of the las, dividend
/ ~ the same rate as the last dividend de-
| r1g-,f
! T,.'N- Shares shall be transferred and F--
! rlicatc certificates issued for lost certificates
/ I'm such manner as may be provided IN -r. Nv
/ laws.
/ Eleventh On January I and TuI- I Of each
wear the board Of directors shall ascertain The
six months. and out ~ such earning, thry
| shall deduct all the expenses Of the associ,-
/ ZION for such time and the balance rCr1air-r4,
after setting aside If the directors see III.
| ,r,rh ar0r,tt as they shall deem hest 20 a
| f1rd for contingent Losses as q dividend "a
the shareholders i'm proportion 10 the value
Iof stock Of each member at the time the
preceding dividend was declared and all paw
mcuts made between such dividends periods
! shall begin 20 earn dividends from the be-
! ginning Of the next srmi-auuvaI term
/ T,eIFth-The JiviG,rIs declared ON r,rr-rr-.
/ s,nrL shall he credited on The rgs,rnrl, 81
/ the members se-ri-arrrallv and dividends on
paId-up stock shall be nail i'm cash ON the
tenth day of January and ten d7y Of Tu'v
! each wear
I Article N-Trc carpor9'e mowers Of the As
/ ISOLATION shall De exercised by a board of
directors. To consist Of not les, than fifteen
,tor AhDlder>, each OF them owning M least ten
/ shares in his own name, who shall he elected
/ bv the sfocLhol icrs on the third Monday OF
! January. 1917. and annually thereafter ANY
director rrasIrg tD hold ten shares shall luSu
/ flrto forfeit hi, seat on the board Of dIrrc-
tors
Notice of said election shall be given for
/ th, SPACE Of tiw ten DAYS by publication in
one of the dsiiv ucwsnapcrs Iuili,hed i'm the
city Of New Orleans SAID election shall be
| bv ballot and shall be held at the domcllr
! IF the corporation. under the Suprryislon of
three stockholders appointed bv the board of
directors at the last preceding regular meeting
thereof who are not candidates for election.
| The shareholders receiving a majority OF the
votes cast shall be declared elected
The failure to hold an election ON the DAYS
specified shall not dissolve the corporation.
hut the directors in office shall hold power
until an election be held after ten DAYS notice
of the time and place thereof
The directors shall elect from their number
a president. vice president. second vice prcsi-
dent, secretary, treasurer, which last two Of
fees may be held by one person. They shall
appoint such other officers and employees dS
NAV he necessary. who shall hold office dur
ing the pleasure of the board. Thew shall TX
the condensation Of all officers and employees.
and thcv shall have power to enact bylaws
not repugnaut to this charter. TO select place
IF meeting to suspend any officer for neglect
Of duty or misconduct, and in case OF any
vacancy on the board among the officers from
death resignation, removal or any other
cause the directors shall have the right to
fiji such vacancy. and shall have general au-
rhority TO carry out the object and business
Of the association But they shall not have
power to purchase real Estate for cash. nor
10 contract and Indebtedness without the al
then onlv in furtherance of the usual and
proper business Of the association. Five d.
rrctor> shall constitute a quorum at all meet
ingS of the board
Article NI-The following named persons
shall constitute the FIRST board OF directors.
to serve until their successors are elected, IN
accordance with this charter. viz: Rev. Pierre
andy Frank T. Anderson Rev : f. Piercv
tieorgc F. Barnes Rev los Morehead. G. {.
Carney. T. J. Johnson, Rev F. d. Diamond,
Nose l.. Wilson. Arthur Henderson, Edw.
Foster. Alex Jingle. Freeman Walker, Alex
Wilson and 4 f Johnson with the said
Pierre Landry. as president; Rev 5. f.
Percy. as first vice president: Rev. +. ID.
Diamond. as second vice president: F. p. An
dcrsou, a. third vice president, and 4. F..
Johnson. as secrctary-trcasurer- of whom
Shall hold office until the third Monday of
January 1917, or until their successors shall
have been duly elected and qualified.
This corporation shall fommen e, o business s
shall have been paid IN.
Article NnI,,Speclal meeting OF me snare
holders shall be convened by the president at
the request IN writing OF ten shareholders
stating the name and object OF such meeting
or when ordered by the directors:
Article Nlll.-No Stockholder snail ever pe
held liable or responsible Tor the contracts
or faults OF tins ASSOCIATION m any 1urther
sum than the amount OF ms Indebtedness 10
the ASSOCIATION; nor Shall any mere lnlor-
mality IN organization nave the effect OF rem
derIng tins act null. or OF exposing share
holder to any liability beyond the amount oil
his or her shares.
Article lA.-ihis charter may be altered
amended or modihed. or thus corporation as
solved ny vote OF three-tourths OF the capl-
tai stock represented al a general meeting
Of the stockholders called lot that purpose
after due notice mailed to each shareh9lder
and the publication Tor ten Gays IN dalIy
newspaper OF the notice OF such meeting. And
/ IN case OF dissolution the stockholders at
such meeting shall elect three commissioners,
who shall have entire charge OF such Iqulda-
| tion. ana SuCn commissioners sHdII nave du-
| Inority 10 HI vacancies occurring III 'i'e"
'g rt' H., ,I ,,.,5 :; ,,,, ,,o.,-;o1 of6o,
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ti,,t'', - 'I Io.is zoe ID ra.;d;n,
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~ us 80 ~ sa;d ,nnnors nd ne
notar, an The d,~ aud date SET forth in The