Lower coast gazette., 1914-05-23

WV ! VIZ
products. foods and food products,
vegetables and farm products and kin
dred products of every nature and de-
scription; breeding, raising, buying,
selling exporting, importing or other
wise dealing in mules, horses, hogs,
sheep, cattle and live stock of all
classes and descriptions; acquiring,
holding, selling, managing and oper'.
ating St. Clair plantation, Plaquemine
parish, state Of Louisiana; owning,
acquiring the "Goudeau" variety of
seedless orange; to borrow and loan
money and to engage in any and all
kinds of business that a natural per-
son might or could engage in in the
United States, or in any part Of the
world, and in such business as the
board of directors may deem to the
advantage of the corporation.
ARTICLE ILL.,.
Tht total authorized capital stock
of this corporation is Two Hundred
Thousand Dollars ($200,0oO), divided
into two thousand $4,000 shares of
the par value of One Hundred $4,000
Dollars each. OF such total author
lied capital stock n thousand
(1,O0o) shares, amounting to One
Hundred Thousand (s10o,ooo) Dol
lars, shall be preferred stock, and
one thousand $1,000 shares. amount
ing to One Hundred thousand $780,
0OO) Dollars, shall be common stock.
Both the preferred and common
stock shall have the same voting
power in the election Of officers and all
elections requiring the voting Of
stock; dividends, when earned, shall
be declared equally among the pre-
ferred and common. stock holders, and
without distinction.
The stock shall be paid in cash at
the time of subscription, or the same
may be issued at not less than par,
in payment or exchange for property
or rights actually received Or pur-
chased by said corporation, or the
same may be issued, full paid, for
money advanced, and for such other
valuable considerations or services as
the board Of directors of said corpora
ton may determine; provided, that
no stock shaA be issued until the con-
sidefation therefor has been received
by the said corporation.
In the event Of any liquidation OF
dissolution or winding up whether
voluntary or Involuntary Of this cor
poration, the holders Of the preferred
stock shall be entitled to be paid in
full the par amount Of their shares,
before any amount shall be paid to
the holders of the common stock;
after the payments to the holders
Of the preferred stock Of its par value
the remaining assets and funds shall
be divided and paid to the holders Of
the common stock according to their
respective shares, but only up to the
par value Of same. After the pay
ment to both preferred and common
stockholders as herein provided, the
remaining assets and funds shall be
divided ana paid to the holders Of the
preferred and common stock equally
and without distinction or advantage.
Any stockholder may sell, assign or
transfer his stock in, this corporation
provided thirty .(:o) days. prior notice
OF such intention to sell, assign or
transfer the same be given the COM
pany, and the other stockholders
thereof shall have the first privileges
Of purchasing same, at the book value
Thereof, after which thirty days no.
tice the said stockmay DO sold in
open market.
The stock Of said corporation may
be transferred under the above con.
ditions; provided, such transfer b
made on the books Of said company,
at it, Office. and on surrender OF the
certificate therefor. No transfer Of
any fractional part Of q share shall
be made.
This corporation shall commence
doing business as soon as Three
Thousand $4,000 Dollars Of the
capital stock shall have been sub.
scribed for.
The board Of directors shall have
the right to determine how much
stock shall be issued.
ARTICLE Nv.
The corporate powers Of this com.
pany shall be vested in and exercised
by. q board Of directors Of not less
than three ~ members, consisting
Of the president, vice.president, secre-
tary and treasurer (which two offices
may Be held by one person.. Two Of
said board shall constitute a quorum
for the transaction Of business, and
their decisions shall be valid and cor
.porats acts.
This corporation shall be powerless
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