The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1914-04-04

| 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 re ristered on the books of the
company or if no such address be regis
tered then addressed care general deliy-
cry, 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. 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. within ten
days, to convene another meeting OF
stockholders, for the purpose of e)ectlng
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 a 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
the death or resignation of any director or
officer before the end of his term OF office,
the vacancy shall be filled by the remains
ing directors 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.
ARTICLE WI.
Three members of the Board of Direc-
tors present, either in person or by proxy,
shall constitute quorum for the transac,
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
the consent of the stockholders of this
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 it, and to issue for security
! for said mortgages, bonds. notes or other evil
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 s
| the affairs of the corporation, provided, how
ever, that it shah require an affirmative vote
of majority of the Board Of Directors to
| adopt, amend or repeal any bylaw, or by lava
| 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
ARTICLE VII.
| At all meetings of stockholders, 1t shah
| require vote OF the majority OF the stock ~
present or represented to elect directors, or
| do any other act except to amerd the charter
or dissolve the corporation, which shall require
ayote Of at least three -fourths Of the stock GO
4 present or represented. which three-fourths
| must also be a majority Of the stock outstand~
Ing.
| Upon the Termination OF this charter BY
| limitation, or upon the dissolution Of the
corporation as hereinafter provided Tor, the
business and affairs of the corporation. shall
| be liquidated by three commissioners selected
from the stockholders at genera! meeting
called for that purpose, after giving the
stockholders notice as provided in Article
er during the term of his duties, or in case OF
his failure or refusal to act, the remaining
commissioner shall declare the Ofiice vacant
and shall elect a successor from among the
stockholders.
i ARTICLE TX.
Except As to the increase or decrease of CAPT
Il,
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
4 for that purpose, after giving the stock
holders notice as provided In Article V here
of; sueh meeting to be called by the Secretary:
| upon the written request OF those holding not
. les, 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, II 50 de-
| the nlo6tiQV at which the Ol86Os
: ARTICLE
No stock holder shall be liable Or jn any
! manner responsible for the contracts or faults
. | of this corporations beyond an unpaid balance
/. that may be due on the shares OF stock owned
, by him nor shall any more infOrmality in thia
act have the effect of rendering this charter
,iuu or of exposing stockholders to liability
beyond the amount OF their stock. :.
ARTICLE XII.
II 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
J iof the first second mortgage bonds or notos,
or if any amount is stu Que IN peincaRs' y,
notes, then no dividends whatever shaH X
paid upon the stock Of this corporation; anf
! dividends oaly shall be paid after an ss q.
1 mortgage boudS or notes are fully patd anc
ARTICLE XII.
So that this Charter may also serve q. I
!, | subscription list, the parties signing thi
/, charterhaye set out opposite their signatures
the aoiint of the capital stock of this corpora
: ton subscribed by each one Of them.
= Thus done and passedin my Office az Frank
q lin, ST. Mary Parish, Louisiana, on the day
Il month and year first hereipabove written. 4
Y the presence of Refine II. Mayer and 4. '
4 Puckett, two competent witnesses, who here
LII unto sign their names with said app carers an
i me, Notary. after due reading Of the whole.
III wilbur H. Kramer, Three Thousand Dollar
= 1 (S3, oO0O0). Thirty Shares.
y VP. Kramer. Fifteen Hundred Dollarsi $l5o00 co.
= Fifteen Shares.
A, II, Thompson, Eight Hundred Dollar
:. $780,. 00), Eight Shares. .,.. =,
>. Seven Shares.
ot W. J. Young, Fifteen Hundred Dolla
IN tSl5O0), Fifteen Shares.
lgI l. s. Wooster, Fifteen Hundred Dollal
~ (Sl500) Fifteen Shares. 800. :.
!. H. W. Kappel Two Hundred Dollars (S2o0o
a Two shares. D.,,.