The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1914-03-21

held at the Office Of the company sitter ten
(tO) days notice in writing shall have
beer given to each stakeholder Of the time
and place Of holding said annual election,
which notice in writing to each stockhold-
er msy be served by transmitting same to
him through the mails, addressed to his
address as registered on the books Of the
company, or IL no such address be regis
tered then addressed care general deliv.
ery; Franklin, Louisiana.
The voting for directors shall be by
ballot; and each stakeholder in person or
by proxy shall be entitled to cast one
vote for each share of stock owned by
him, which shall have been standing in
his name on the company's books for at
least ten days prior to the date of said
election. 4 failure from any cause what.
soever to hold said annual election or
meeting, or to elect directors or officers
on the date above specified, shall not dis.
solve the corporation, but the directors
until their successors shall have been
elected and qualified; and it shall be the
duty Of the Board Of Directors. within ten
days, to convene another meeting Of
| stockholders, for the purpose of eIeetina
| directors, OF which meeting each stock
holder shall have three days prior notice,
in writing by mail as aforesaid, issued to
him by the Secretary of the Company. A
failure Of the Board of Directors to con-
yene such second meeting, or failure to
elect directors at said second meeting
shall likewise not dissolve this corporation,
but the incumbent directors and officers
shall remain in Office until their success.
ors are elected at the next ensuing annual
election and have qualified. In case of
he death or Fssignstlo4 Of any director or
,f1cer before the end Of bis term Of off &c,
the cancy shall be filed by the remain.
| ing dir ,ctors by the election in his place
Of a stakeholder, who shall act until his
successor shall have been elected, at the
next ensuing annual election, and shall
have qualified.
Three members of the Board of Direc,
tors present. either in person or by proxy,
snail consitut. quorum for the transac.
ton IF ali business of the company by the
said Board. and q majority vote of any
meeting OF said Board shall prevail, except
as herein otherwise provided.
The Board of Directors shall have the
right, witnout consulting with or getting
the consent of the stockholders OF this
corporation to sell, or ALLEVIATE all or any
part Of said real estate or other properly
owned by or belonging to this corporation
Or to mortgage all or any part of said
property for any amount and on any
terms and conditions that said Board of Di
for said mortgages, bonds, notes or other evi.
denceS of Indebtedness.
Said Board of Directors shall have power to
appoint all agents, clerks and employees, and
fix their salaries and compensation. The
Board OF Directors shall have the power to
make. change, alter and modify all proper by
laws, rules or regulations for carrying this
CHI irt.r into effect and for the managem mt of
the airs of the corporation, provided, how
ever, that it shall require an affirmative vote
Of "a majority of the Board Of Directors to
II h, L. l.
Any of the said Directors shall have the right
to delegate to any other Director in writing
any of the rights and powers enjoyed by him
as such director
At all meetings of stockholders, it shall
require vote Of the majority of the stock so
present or represented to elect directors or
do any other act except to amend the charter
or dissolve the corporation which shall req lire
a vote of ut least three-fourths Of the stock so
present or represented, which three-fourths
ing.
ARTICLE VIII.
Upon the termination OF this charter by
corp ,ration as hereinafter provided for the
bus nass and affairs of the corporation shall
DE iiqaidated by three commissioners selected
the tna at sivms
stOc khoiders notice as provided in Article
hereof; II case OF the death of commssioa-
er during the term Of his duties. or in cas-, of
c commissioner shall declare The ONCE Vao.,i
and shall elect a successor from among the
8 stockholders.
Except AZ to the increase or decrease of CAPT
tai stock which must be done In the m INNER
ami fern prescribed by law, this Act of
altered, or the corporation may be dissolved,
ct . 'Geetiny Of STOCKHOLDERS called specially
for that purpose. attet giving the stock.
Of; such meeting to be called by the Secretary,
upon the written request Of those holding not
less than one-third Of the capital stock.
In the event the dissolution of the corpora
ton is voted. the commissioners provided in
Article VIII hereof may be elected, if 50 De.
sired. at the same meeting at which the disco.
luton is voted .pr,crpY
No stock holder shall be liable or in any
manner responsible for the contracts or faults
of this corporation, beyond an unpaid balance
thar may be due on the shares of stock owned /
by him nor shall any mere informaity in this
act have the effect of rendering this charter
null or Of exposing stockholders to liability
beyond the amount OF their stock.
ARTICLE XII
In the event that this corporation shall is
sue first or second mortgage bonds or notes.
and any default should be made in the payment
pf the first or second mortgage bonds or notes.
Dr il any amount is still due In principal or
inter st On the second mortgage bonds or
notes, then no dividends whatever shall be
only shall be paid after all second
bonds or notes are fully pail and
ratified.
ARTICLE XII
50 that tpis Charter may also serve as a
subscription list. the parties signing this
charter have set out opposite their signatures
the nouns Of the capital stock of this corpora.
ton subscri bed by each one of them
Thus done and passed in my office at Frank
lin, st. Mary Parish, Louisiana, on the day.
month aud year first herenabove written, 10
the presence of Refine II. Mayer and X. V.
PuC kott. two COmDetent Witnesses. who here
unto sign their names with said appearers and
me-. Notary, after due reading of the whole.
Wilbur n. Kramer. Three Thousand Dollars
,S3,O0JOO), Thirty Shares.
+. Kramer, Fifteen Hundred Dollars $l500.00),
Fifteen Shares.
A. II. Thompson, Eight Hundred Dollars
$50. 00), Eight Shares.
j. E. Lassus, Seven Hundred Dollars (s7O0.0O
Raven Sharas