The herald. [volume] (New Orleans, La.) 1905-1953, 1914-03-19

and organization of this corporations; also for
cash or in installments of such amount as the
Board of Directors may determine.
The Board of Directors, as hereinafter
created, is specially authorized to dispose Of
the stock of this corporation, in whole or in
part, for any and all of the purposes above
stated as in its judgment may seem fair and
proper.
This corporation shall commence business
and become a going concern as three
thousand dollars of its capital stock shall
have been subscribed; the residue of said
stock to be issued and payment made there.
for subject to the action and call of the Board
of Directors. Said stock shall be fully paid
at the time of its issuance and, thereafter
non assessable, and the capital stock may be
increased or decreased in the manner pro.
vided by the laws of this State.
The parties to this act declared that they
hereby subscribe for the number of shares
of said capital stock set opposite their re-
spective signatures hereto, so that this act
of incorporation shall serve as an original
subscription.
Article v. All the powers of this corpora.
ton shall be vested in and be exercised by
board of three directors, to be elected each
year from among the stockholders at the an.
nual meeting; said directors shall be bona
hide Stockholders, and the first board shall
consist OF !. I. Rhea, Jr, L. E. Stafford and
! c: Mente, with the following officers: T.
7. Rhea, Jr., who shall be President; L. E
Stafford, who shall be Vice President; J. C.
Mente, who shall be Secretary Treasurer.
OWCIS OF DOdrQ OF DlreCtorS.-On the frst
Monday in January, 1915. and annually there.
after, except when such day shall fall on 4
legal holiday, then upon the next followino
lay.day, the stockholders shall elect a Board
OF Directors for the ensuing year, the board
already installed to continue 10 hold over
until their successors are elected and quail.
fed. The Board of Directors so elected shall
select from their own number the officers
poraton shall be President, Vice Pres;.
dent and Secretary Treasurer The election
of directors shall be by ballot, and the per
sons receiving the largest number of votes
cast shall be declared elected. For electing
directors or for any other purpose, each share
OF stock, whether in person or by proxy, shall
be entitled to one vote, and majority of
the votes cast shall be required tn pass anv
to the stockholders, except for the aiteya.
ton or amendment of this charter or for the
provided.
Said Board of Directors shall bav. nower
and authority to make all necessary rules
and regulations for the management, opera.
ton and control of the business of the cor
poration, as well as TO make all necessary
rules and bylaws, with power to I'LL any
vacancy occurring in their number M am
vacancy occurring among the officers Of the
corporation, a majority of the directors vot.
ing at one time IN person or by proxy, shall
any bylaws and which, when so adopted
snail become valid, corporate acts
Article vi. Notice to Stockholders .-No,;c.
OF all meetings Of stockholders for electinv
directors or for any other purpose, except ne
may be hereinafter directed, shall be given
IN writing, by the Secretary to h.
deposited in the mail, at least ten DAYS p,;or
to such meeting, directed to each stockh6lder
at his last known address appearing on n.
books OF the corporation, unless said notice
IS waived IN writing. by all the stockholders
appearing as such upon the books.
Article VII. Amendments-This az, of :,
corporation may, be added to, modi6ed
changed or amended; or this corporation may
be dissolved by and with the assent Of N,
holders of three-fourths in amount of its tber e