The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1914-04-25

held at the office of the company after ton
IO) DAYS notice in writing shall nave
beer given to each stakeholder OF the time
and place of holding said annual electlon,
which notice in writing TO eaca ssoc cs uo't ~
er may be served by transmitting same 20
him through the mails, addressed 70 MS
address as registered on the books OF the
company. or If no such address be regis
tered then addressed care general dellv"
cry, Franklin, Louisiana.
The voting for directors shal De Dy
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 Tor a.
least ten days prior to the date OF said
election. A failure from any cause what
soever to hold said annual election or
on the date above specified, shall not dis~
solve the corporation, but the directors
and officers then in Office shall hold over
until their successors shalt have been
elected and gu alified; and 1t shall be the
duty OF the Board of Directors. within ten
days, to convene another meeting OF
stockholders, for the purpose of e)ecting
directors, of which meeting each stock
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 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,
ing directors by the election in his place
of stakeholder, who shall act until his
successor shall have been elected, 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 transsc:
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 IN.
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
charter into effect and for the management of
the affairs of the corporation, provided, how
ever, that it shall require an affirmative vote
adopt, amend or repeal any bylaw, or by-laws.
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, it shall
present or represented to elect di1ectos. a =
do any other act except to amend the charter
or dissolve the corporation, which shall require
present or represented, which three-fourths
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
business and affairs of the corporation shall
be liquidated by three commissioners selected
from the stockholders at general meeting
called for that purpose, after giving the
hereof. In case OF the death of q 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 or decrease of Cant
and form prescribed by law, this Act Of
Incorporation may be changed, modified or
altered, or the corporation may be dissolved.
holders notice as provided In Article v hero.
OF; such meeting to be called by the Secretary.
less than onet 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-
luton Is voted.
ARTICLE x.
NO stockholder shall be liable or in any
OF this corporation. beyond an unpaid balance
that may be due on the shares of stock owned
oy him; nor shall any mere informality in this
null or Of exposing stockholders to liability
beyond the amount i G q their g stock.
In the event that this Corporation shall il.
sue nrst or second mortgage bonds or notes,
and any default should be made In the payment
OF the nrst Or second mortgage bonds or notes
interest on the second mortgage bonds OF
notes, then no dividends whatever shall 10
paid upon the stock Of this corporation: and
dividends only shall be paid after all second
mortgage bonds or notes are fully paid and
ratified.
ARTICLE XII
snSsc sras in,s Gnarter may also serve -
charter have set out opposite their siKnatures
the amount OF the capital stock of this CORPORA.
ton subscribed by each one OF them
Thus done and passed in my ONCE at Frank.
lin, St Mary Parish, Louisiana, on the day.
month and year first hereinabove written, In
t nn. pr, presence of Refine H. Mayer and K. v.
unto sign their names with said appesrers and
me, Notary, after due reading OF the whole.
Wilbur II. Kramer, Three Thousand Dollars
($3, 000.00), Thirty Shares >-''
Fifteen Shares '.s4sso'pS''
a, d. Thompson, Eight Hundred Dollars
ESQ.,. 00), Eight Shares
). e. Lassus, Seven Hundred Dollars fs7o0 m,
Seven Shares. Nv'SS's~s
" J. Young. Fifteen Hundred Dollars