The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1914-05-02

meeting Of the stockholders of this com
pany for the election Of directors shall be
held at the Office Of the company after ten
(10) 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 may 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.
cry, Franklin, Louisiana.
The voting for directors shall be by
ballot; and each stockholder In person or
vote for each share of stock owned by
him, which shall have been standing Ia
his name on the company's books for at
least ten days prior to the date OF said
election. A 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
and officers then in Office shall hold over
until their successors shall have been
elected and qualified; and it shall be the
duty Of the Board of Directors. withfa ten
days, to convene another meeting of
lSf Inc purpose o. es stc
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-
vene such second meeting, or failure to
elect directors at said second meeting
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
the death or resignation of any director or
officer before the end of his term of Office,
the vacancy shall be filed by the rem8in-
ing directors by the election s in nj; place
successor shall have been elected, at the
next ensuing annual election, and shall
have qualified.
ARTICLE vi.
Three members Of the Board Of Direc-
tors present, either in person or by proxy,
ton Of all business of the company BY the
said Board. and a majority vote Of any
meeting Of said Board shall prevail, except
as herein otherwise provided.
The Board of Directors shall have the
right, without consulting with or getting
corporation to sell, or ALLEVIATE all or any
part of said real estate or other property
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.
rectors may see 1t, and to issue for security
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
dx their salaries and compensation. The
Board OF Directors shall have the power to
make. change. alter and modify al proper BY.
laws, rules or regulations for CARRYING this
charter into effect and for the management of
the AFFAIRS OF the corporation, provided, how
ever, that il shall require an affirmative vote
adopt. amend Or repeal any bylaw. or by-laws.
to delegate to any other Director in writing
At all meetings Of stockholders, II shall
present or represented to elect directors, or
do any other act except to smecd the charter
or dissolve the corporation, which shall require
present or represented, which three fouFths
ing.
Upon the termination Of this charter by
Limitation, or upon tho dissolution of the
corporation as hereinafter provided for, the
be liquidated by three commissioners selected
from the stockholders at q general meeting
ssl1sa fS5 that purpose ssF giving
hereof. In case of the death Of . oommission-
er during the term of his duties or In GAG Of
MS failure or refusal 70 act, the remaining
and shall elect . successor from among tho
stockholders.
ARTICLE TX.
Except As to tho Increase or decrease of can't
tai stock, which must be done In the manner
and form prescribed by law, this Act Of
Incorporation may be changed, modified or
ct . meeting of stockholders called specially
Tor that purpose, after giving the stock.
holders notice as provided In Article hero.
upon the written request Of those hoidins no:
less than one-third Of the capital stock.
In the event the dissolution Of the corpora.
Article VIM hereof may be- elected, Il 50 de-.
sired. ct the same meeting at which tho disco.
luton Is voted. .pr,c,rx
No stockholder shall be liable or in any
manner responsible for the contracts or faults
Ct this corporation. beyond an unpsid balsnCe
BY him; nor shall any mere infcrmsiit7 In this
act have the effect Of rendering this charter
null Or ct exposing stockholders to liability
beyond the amount HfT e shs!t = s4took.
In the event that this corporation shall il.
sue nrst Or second mortgage bonds or notes.
of the flrst or second mortgage bonds or notas.
or II any amount il still due In princfDsl or
interest ON the second mortgage bonds or
paid upon the stock Of this corporstion: and
dividends only shall be paid after ali secOnd
mortgage bonds or notes are fully paid and
ratified.
ARTICLE XII.
20 snat TINS Charter may also serve q
subscription list. the parties signing this
charter have set out opposite their signatures
the amount Of tho capital stock of this corpora.
tion subscribed by each ono OF thond
;. Thus done and passed In my ONCE at Franks
I'm, s. Mary Parish, Louisiana, on the day,
month and year drst heretnabove written. In
the presence of Refine H. MAYER md nj "
Puckett, two competent witnesses, who here
unto sign their names with ssid appearers and
me- Notary, after due reading Of the whole.
($3, 000.00). Thirty Shares.
y Kramer. Fifteen Hundred Dollars. Sl5oooo),