The herald. [volume] (New Orleans, La.) 1905-1953, 1914-05-07

shall Immediately convene and elected a
President and the other officers herein pro-
vided for from their number. All vacan-
cies occurring by death, resignation or other
wise, among the directors shall be filled by
an election held by the remaining directors.
Each director, shall, at the time of his quail
hcation own at least thirty 900 shares of the
capital stock of this Company.
The Board of Directors shall have the
power to elect or appoint such officers en-
ployeeS as it may deem proper, and to INK
their compensation and the term of their EN-
plOyment and to vest such of its powers IN
its officers employees as It may deem
proper.
At any meeting of the Board of Directors,
any director absent from the city may be
represented by any other director by written
proxy, who may East the vote of the absent
director upon the matters coming before said
meeting
And the Board of Directors is specially
authorized to buy. sell, lease, mortgage or
pledge any and all property, movable or I'M
movable as may be necessary to conduct the
business of this Company, and to borrow
money and to issue bonds and notes there
for secured Unsecured, as IT may deem
proper, and to execute such mortgages
pledges or other securities as it may deem
advisable TO seCuie money borrowed, and the
Board of Directors is specially authorized to
buy out any such established business as II
may deem requisite to the success of the bust
ness Of this Company, for it to acquire and
to pay for same in cash or on terms of credit,
or in the stock II this Company. And the
Board may delegate this, or any other power
vested in its officers, without referring TO the
shareholder for authorization ratification of
said acts.
The officers of this corporation shall be a
president. a vicepresident, a secretary treas
urer and a General Manager or Superin-
tendent.
The President, the Vice. President and the
Secretary Treasurer of the Company shall be
stockholders. The other officers shall not be
required to own stock.
Within thirty 500 days after the signing
hereof the stockholders shall meet and elect
the first Board of Directors who shall hold
office until the second Monday in May, 1915,
qualified. The Board of Directors thus elect
ed shall, at the FIRST meeting, elect the Off
GERS of this Company who shall serve the
Company until their successors are elected
and qualified
Article NIII.-This corporation may be dis
solved by the assent OF three-fourthS in
amount Of the issued and outstanding CAPT
tai stock OF the Company voting at a general
meeting convened for such purpose after thir-
~ days notice shall have been given OF such
meeting by advertisement in a newspaper pub
ished in the City OF New Orleans or by no.
tice mailed to each stakeholder at his last
known address.
Article IX.-Wheuever this corporation
shall dissolve, either by liquidation for
any other cause its affairs shall be liqui-
dated, its debts and Liabilities paid and the
balance OF ITS funds divided pro rata among
its shareholders under the superintendent
and charge Of three commissioners Of liqui.
datIon, to be appointed for this purpose at a
general meeting OF stockholders convened af-
ter thirty 800 days prior notice shall have
been given as above provided Said commits
sioners shall remain in Office until the af-
fairs of said corporation shall have been fully
iquIdated, and IN the event of the death of
one or more members of said commi ssioners,
or vacancy otherwise occurring in their num-
Der, those who remain may continue to act
alone or they may FIJI such vacancy.
City of New Orleans, on the day, month and