The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1914-01-17

sign. transfer or invest, trade or deal in
goods, wares and merchandise Of every
kind and descriptions; to carry on and
| conduct any business which may be per.
mitted by law. and particularly to acquire.
own, operate and conduct any or all busi-
ness that may be necessary or advisable
for the purpose of making it's investment
more profitable or disposable; to transact
general real estate agency, including the
buying, selling and dealing in real proper
ty, or the collection of rents, or the man.
agement of estates for others; and gener-
ally to transact all or any other business
which may be necessary or incidental or
proper to the exercise Of any or allof the
Aforesaid purposes of this corporation.
ARTICLE w.
The authorized capital stock of this
corporation is hereby declared to be the
sum of Ten Thousand Dollars [Sl0 ,0000O).
to be divided into and represented by one
hundred shares of the par value of One
Hundred Dollars t$l00.00) each. and this
corporation shall commence doing business
when Three Thousand Dollars $4,000 .OO)
of its stock shall have been subscribed
for. Said capital stock shall be full paid
and non assessabie when issued and shall
only be valid If countersigned by tho
transfer agent appointed by the Board of
Directors aud shall be issued only for cash
or in payment for property, movable or
lmmoFabie. actually purchase eby, con>
veyed to and received by said corporation
or for labor done or services rendered. No
transfer of said capital stock shall be
binding upon the corporation unless re-
corded on the books thereof and made in
accordance with its charter aud bylaws.
ARTICLE v.
The business of this corporation shall be
managed and all the corporate powers
thereof shall be vested in and exercised
by board of five directors. The directors
shall be elected from among the stock
holders and majority OF the Board pres.
ent in person shall at ali times constitute
a quorum thereof.
The first Board of Directors of this cor
poration shall be composed of Wilson L.
Peterman, as President, Thomas M. Mill
ing, as Vice-President. Roberts C. Milling,
as Secretary and l.. A. Loustalot as Treasu.
rer and General Manager, and James A.
Peterman Said officers and directors
shall hold office until the second Tuesday
in January, 1915, Or until their successors
are duly elected. qualified and installed.
On the second Tuesday in January, 1915,
and ann ually thereafter, a meeting of the
stockholders of this corporation shall be
held at its domicile for the purpose of
eleciing directors for the ensuing year.
stockholders receiving a majority of the
votes cast shall be declared elected A
failure from any cause whatsoever to hold
this said annual meeting or failure to elect
directors on the day above specified shall
not dissolve the corporation, but the
directors and officers then in Office shall
hold over until their successors shall have
been duly elected, qualified and installed.
and it shall be the duty Of the Board of
Directors to convene within ten days
another meeting of stockholders for the
purpose of electing directors, of which
meeting each stock holder shall have three
days prior notice in writing. The failure
to elect Directors at said second meeting
shall likewise not dissolve this corpora
tiOn, but the incumbent officers shall re-
main in office and there shall be no elec-
tion of directors by stockholders until the |
date of the next annual meeting.
The Directors, as soon as possible after |
their election, shall qualify, take office |
and elect from among their number a !
Pre- esident, Vice-President. a Secretary |
and Treasurer. The said Board shall |
further elect each year General Manager |
who shall be one Of the members of said |
Board, and vino shall have the power to |
generally manage the business. The |
Board OF Directors shall have the power
to appoint agents and employees, and to
enact such by-laws, rules and regulations
as they may deem necessary and proper |
for the conduct of the business OF this cor |
poration, and in case OF a vacancy on the |
Board of Directors, or among the officers. |
from death, resignation, removal or any |
other cause, the said vacancy shall be |
filed by the remaining directors at a
special meeting called for that purpose |
after three days notice thereof has been
given in writing to the remaining members |
of the Board.
ARTICLE vi.
Except as otherwise provided In Article |
v. notices of all meetings of stockholders
for the election of directors or for any
other purpose shall be given in writing by
the Secretary at least ten days before the |