The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1914-05-23

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
rectore may see nt. and to issue for security
for said mortgages, bonds, notes or other evil
dences of Indebtedness.
Said Board of Directors shall have power to
sppohas; all agents. clerks and employees. and
Board OF Directors shall have the power to
make. change, alter and modify all proper by
laws, rules or regulations for carrying this
the affairs of the corporation, provided, how
ever, that it shall require an affirmative vote
OF . majority OF the Board Of Directors to
adopt amend s q repeal any bylaw. OF bylaws
to delegate to any other Director in writing
any OF the rights and powers enjoyed by him
- such director pr,crr VI,
At ell meetings Of stockholders, it shall
require vote Of tho majority OF the stock 60
present or represented to elect directors or
do any other act except to amend the charter
or dissolve the corporation, which shall require
q vote Of at least three-fourths of the stock 80
present or represented, which three-fou rths
must also be majority OF the STOCK outstand-
ing.
ARTICLE VIII.
Upon the termination Of this charter by
Limitation, or upon the dissolution of the
corporation as hereinafter provided for, the
be liquidated by three commissioners selected
from tho stockholders at a general meeting
called for that purpose. after giving the
hereof. In case of the death of a Commission
er during the term of his duties, or in case OF
his failure or refusal to act, the remaining
commissioners shall declare the Office vacant
and shall elect a successor from among the
stockholders.
ARTICLE TX.
Except as to the increase decrease of capi-
- 49, II 81. TAIL L. =
and form prescribed BY law, this Act Of
Incorporation may be changed, modified or
altered, or the corporation may be dissolved,
at . meeting OF stockholders called specially
for that purpose, after giving the stock
holders notice as provided In Article here.
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 SO de-.
sired, at the same meeting at which the DISCO
ARTICLEX.
No stakeholder shall he liable or in any
manner responsible for the contracts or faults
Of this corporation. beyond an unpaid balance
that may be due on the shares of stock owned
by him; nor shall any mere informality in this
act have the effect of rendering this charter
null or Of exposing stcckholders to liability
ARTICLE XII.
In the event that this corporation shall ia.
sue first or second mortgage bonds or notes.
aud any default should be made III the pavment
Of the frsr or second mortgage bon Is or notes.
or il any amount is still due in principai or
interest ON the second mortgage bonds or
notes, then no dividends whlteyer shall he
paid upon the stock Of this corporation: and
dividends only shall he aid after all second
mortgage bonds or notes are fully pail and
ratified.
ARTICLE XII
So to 1t tis Charter may ais, serve al a
subscription list the PARTIES signing this
charter have Ut out opposite their signatures
ton subscribed by each one Of them
Thus done and passed in nv office at Franz.
lin, st. Mary Parish, Louisiana, on the day
mouth aud year first hereinabove written In
the presence of Refine Fl. Mayer and x. Y.
PucKett, two competent witnesses who hare
unto sign their names with said appearers and
me. Notary, after due reading of the whole
Wilbur H: Kramer, Three Thousand Dollars
($3, o00.0O). Thirty Shares.
Fifteen Shares. ~o0o'o0''
a. H, Thompson, Eight Hundred Dollars
($800. O0), Eight Shares.
J. Il. Lassus, Seven Hundred Dollars ($7o0. oo)
Seven Shares. >"O'o0|
,., " J; r, Young, Fifteen Hundred Dollars
s. Wooster, Fifteen Hundred Dollars
I$l50aJ Fifteen Shares.
: H. W. Kappel, Two Hundred Dollars (s2oO. o.,
Two shares.
JOS; J. Schwartz, One Hundred Dollars
Oscar Zenar. fncve Hundred Dollars (S3J0.0o)
rnree Shares.
G. F. Borah, Four Hundred Dollars. fsl0o o01
Four Shares
HENRY MAYER.
Witnesses:
Refine II. Mayer,
K. v. Pickett.