The herald. [volume] (New Orleans, La.) 1905-1953, 1914-05-21

is stockholders and any and all other per
sons and organizations that II may desire 10
serve.
% To collect accounts and claims OF every
kind aud nature and TO charge tees or othet
considerations therefor.
(o To adopt and advocate the general use
Of such uniform rules and regulations per
tanning to the credit aud COLLECTION depart
ment Of businesses as shall tend 10 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; &C
counts, or any other eCidenCeS OF indebted-
ness OF its own or OF -ny other person, cor
marathon or organization. and to exercise any
and all privileges and powers which a 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 lawiu
business of every kind and nature incidental
to any of the foregoing.
ARTICLE IV-The capital stock OF tins
corporation is hereby fixed at the sum OF tlt
ty Thousand Dollars Cs5OOOO.0O,. divided, into
and represented by FIVE hundred $500 share;
of the par value of one hundred dollars
$4,000 each. This company shall have the
right TO commence business and be golns
concern when fifteen thousand dollars lSlo,
OOOOO of the capital stock shall have beer
subscribed for All stock subscribed for shall
be paid for in cash or property received upor
rectors shall prescribe.
No other or further subscription to stool
shall be received by this corporation. except
ing the original subscriptions, without tn
unanimous consent of ali the directors ther
in office, and no other stock shall be lssuet
by the corporation, excepting with suci
unanimous consent.
No certificate of stock shall be issued unit
fully paid No transfer of stock shall b.
admitted or held to be valid or binding s.
far as the corporation is concerned, unles
made upon the books of the corporation.
ARTICLE V. All powers of this corpora
ton shall be vested in and the business ant
affairs shall be managed by a board OF di
rectorS to consist of not less than three no
more than nine stockholders, VINO snail D
elected annually at a meeting OF the stock
holders on the fourth Tuesday OF January o
each and every year, except the hrst boar
of directors, who are declared to be Clar
ence o. Wilcox, Owen K. Parker and Levi
o. Shackelford, who shall serve in that ca
pacity until their successors duly elect
ed and qualified. All elections shall be he'll
by ballot at the office OF the company unde
the supervision of two commissioners to b
appointed by the board of directors. Notice o
such meeting shall be given by the secretaT,
| in writing, delivered to each stakeholder L
person or mailed to his last known address a
| least fifteen days prior to such election, bu
| this notice may be waived by the unanimou
consent of all the stockholders.
At all such elections and at all meetings o
the stockholders, every stockhoIder shaIl D
7
standing in his name the books of tn
company at the date of such election or meet
| ing; said votes TO be cast in person or b
written proxy and a majority of the vote
| shall elect.
The failure to elect directors at the annua
meeting shall not dissolve affect the col
| poration nor impair its management IN an
| respect, but the directors in Office shall II
! main in office until rneir successors ar
elected and qualified.
Each board of directo.s shall elect as 500
| as possible after their own election a pres
dent, vice president, secretary and treasure
| and any two of the offices of said corporation
except those of president and vice presiden
may be held by one and the same person ;
| the same time.
The first officers of the corporation shall :
as follows:
Clarence o. Wilcox, president; Owen
Parker, vice president and secretary, an
| Lewis o. Shackelford, treasurer, who sha
| hold office until their successors are dull
elected and qualified.
| All vacancies in the board for whatevt
cause shall be filled by the remaining dire
tors. Any member of the board may appoir