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


connection with the<abGve.
Section 7. To carry on any other BUSH
ness which under the law it may be ems
titled to carry on which may seem to the
corporation to be calculated directly or
indirectly to effectuate the aforesaid OBJ
jects, or either Of them, or to facilitate 1t
In the transaction OF its aforesaid business
or businesses, or any part thereof, or in
the transaction Of any other lawful bust
ness that may be calculated directly or
indirectly to enhance the value or to
render profitable any Of the c0mpany's
properties and rights, and generally to
hold and exercise all such incidental
powers and privileges as relate to the OBJ
ljects and purposes hereinbefore set forth,
or as may be necessary, useful or conve-
9ient for affecting said objects and pur-
poses.
ARTICLE ".
The capital stock of this corporation is
hereby fixed at Fifty Thousand $3.50, .0O)
! Dollars, divided into and represented by
Five Hundred 1900 shares Of One Hun
dred $4,000. Dollars each; which capital
stock may be increased or reduced by
proceedings taken in the manner pre-
scribed by law.
This corporation shall be going con-
Germ and be considered as fully organized
The capital stock Of said corporation shall
have been subscribed for.
The said stock shall be paid for in cash,
or in labor done, or property actually re-
ceived by the corporation, and all stock of
this corporation not subscribed for in this
charter shall only be issued by the Board
| of Directors Of this corporation, and then
for cash or labor done or performed, or
property received by the corporation.
The officers of this corporation shall
| consist of a President, VicesPresident,
Secretary and Treasurer. The Office OF
Secretary and Treasurer may. be held by
one person.
| ARTICLE v.
The corporate powers OF this corpora
ton shall be vested in and the business of
same shall be managed by Board of not
less than three - nor more than five -
directors. to be selected from among the
stockholders: and any person having
stock standing in Bis name, either as
owner or agent, shall be qualified to be-
come director. The first Board of Dr.
rect0rs shall consist OF Oscar Zenor, Will
bur Ii. Kramer, j. G. LeBourgeois, A. L.
Boudreaux aud G. f. Borah, and they
shall hold Office until the first Monday in
February, 1915, or until their successors
shall have been elected and qualified.
The Board of Directors Immediately upon
their election annually shall meet and
elect President, vice>President and
Secretary, each Of whom must be chosen
from among their own number.
OF the first Board of Directors herein
named Oscar ZenoE. shall be President, G.
Ii. Kramer shall be Secretary>Treasurer;
all os whom shall hole their offices cntil
their successors are elected.
On the first Monday in February, 1915,
and annually thereafter at such hours as
may be fixed BY the bylaws, the annual
meeting Of the stockholders OF this COM
pany for the election Of directors shall be
held at the Office Of the company after ten
slOs days notice In writing shall have been
| given to each stakeholder Of the time and
place of holding said annual election,
which notice in writing to each stock
holder may be served by transmitting
same TO him through the mails, addressed
of the company, or e no such address be
registered then addressed care. general
delivery, Franklin, Louisiana.
| The voting for directors shall be by bal.
lot; 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
Ethe company's books for at least ten days
Iprior to the date of said election. A fail
| ure from any cause whatsoever to hold
said annual election or meeting, or to elect
directors or officers on the date above
specified, shall not dissolve the corpora,
ton; but the directors and officers then in
shall have been elected and qualified; and
| 1t shall be the duty of the Board of Direc-
tors, within ten days, to convene another
| meeting OF stockholders. for the purpose
OF electing directors, Of which meeting
each stakeholder shall have three days
prior notice in writing. by mail as afore-
said, issued to him by the Secretary Of the
Company. a failure Of the Board of
Directors to convene such second meeting,
or failure to elect directors at said sec,
ond meeting shall likewise not dissolve
this corporations; but the incumbent di-
rectors and officers shall remain in Office
until their successors are elected at the
next ensuing annual election and have
qualified In case Of the death or resig-
nation OF any director or officer before the
end Of his term of Office, the vacancy shall
be filled by the remaining directors by the
election in his place OF stakeholder, who
shall act until his successor shall have
been elscted, 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,
shall constitute quorum for the transac-
tion OF all bus mess OF the Company b. the
said Board, and majority vote OF any
meeting Of said Board shall prevail, ex.
cept as herein otherwise provided.
The Board Of Directors shall have the
rl2nt, without consulting with or get
ting the consent OF the stockholders of this
corporation to sell, or ALLEVIATE all or any
part of said real estate or other property
owned bV or belonging to this corpora
ton, or to mortgage all or any part of
said property for any amount and on any |
terms and conditions that said Board OF |
Directors may see fit, and to issue for Sc
curity for said mortg iges bonds, notes or
other evidences of Indebtedness.
Said Hoard of Directors shall h.vo |
power to appoint all agents, clerks and |
employees, and fix their salaries and COM |
pensati0n. The Board Of Directors shall |
have the power to make, change alter and /
modify all proper by laws, rules or regu-
lations for carrying this charter into effect |
and for the management Of the affairs of |
the corporation, provided, however, that