The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1914-05-09

tion, 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 mortgages bonds, notes or
other evidences of indebtedness.
Said Board of Directors shall have
power to appoint all agents, clerks and
| employees, and fix their salaries and com.
pensation. The Board Of Directors shall
have the power to make, change. alter and
modify all proper bylaws, rules or regu-
lations for carrying this charter into effect
and for The management of the affairs of
! the corporation, provided, however, that
1t shall require an affirmative vote of a
majority Of the Board of Directors to
adopt, amend or repeal any by>law or by
laws. Amy Of the said Directors shall have
the right to delegate to any other Director
in writing any OF the rights and powers
ARTICLE VII.
At all meetings Of stockholders. it shall
require vote of a majority of the stock
| so present or represented to elect direc-
tors, or do any other act, except to amend
the charter or dissolve the corporation.
which shall require vote of at least
.fourths Of the stock so present or
REPRESENTED, which three e-fourths must al
80 be majority of the stock outstanding.
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 bythree commissioners
raj meeting called for that purpose, after
giving the stockholders notice as providde
in Article V hereof. In case of the death
of q commissioner 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 q
successor from among the stockholders.
ARTICLE TX.
Except as to the increase or decrease of
capital stock, which must be done in the
manner and form required by law, this
Act of Incorporation may be changed,
modified or altered, or the corporation
may be dissolved. at meeting Of stock
holders called specially for that purpose,
after giving the stockholders notice as
provided in Article V hereof; such meet
ing to be called by the Secretary upon the
written request of those holding not less
than one third of the capital stock.
In the event the dissolution OF the cor
pOration is voted, the commissioners pro-
vided in Article VIII hereof may be elects
ed, IL so desired, at the same meeting at
which the dissolution is voted.
ARTICLEX.
No stockholder shall be liable or in any
manner responsible for the contracts or
faults of this corporation beyond an un-
paid balance that ,may be due on the
shares Vt stock owned by him; nor shall
any mere infolmality in this act have the
effect OF rendering this charter null or Of
exposing stockholders to liability beyond
the amount of their stock.
ARTICLE XII.
In the event that this corporation shall
issue first or second mortgage bonds or
notes, and any default should be made in
the payment of the first or second mort
gage bonds or notes, or il any amount Is
still due in principal or interest on the
second mortgage bonds or notes, then no
dividends whatever shall be paid upon the
stock of this corporations; and dividends
only shall be paid after all second mort
gage bonds or notes are fully paid and
| ratisfied.
ARTICLE XII.
So that this Charter may also serve as
subscription list, the parties signing this
charter have set out opposite their sigma
lures the amount Of the capital stock OF this
corporation subscribed by each one OF
them.
Thus done and passed in my Office at
Franklin. st. Mary Parish. Louisiana, on
| the day, month aud year first hereinabove
written, in the presence OF Messrs. Z:
| witnesses, who hereunto sign their names
with said appearers and me Notary; al
ter due reading of the whole.
Witnesses:
PAUL KRAMER.
r. G. MILLING.
No. Shares. Amt.
OSCAR ZENOR 4l-2 5 450.00
OSCAR ZENOR Agt 26 100000
WILBUR H. KRAMER 21-2 25O.O0
| A. l.. BOUDREAUX 2 10000
MATTE s. DISCH l.2 5000
MRS. AMELIA BELLESIN
Perl S. Perkins $4,000
j. P. LEBOURGEOIS
Per C. F. Borah OO.W
HERBERT WADSWORTH
Per c. F. Borah 3O.W
&. F. BORAH Agt 1-2 50.cO