The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1914-02-21

directors on the day above specified shan
not dsso aUa the soT1pbo sn but
hold over until their successors shall h sna
been duly elected, qualified and instaIIsSS
and it sha' be the duty Of the Board =;
Directors to convene within ten, ~ -.
another meeting of stockholders for *
purpose = Letting directors, Of whicS
meetins 'tockholder shall have thrss
days p 'ce in writing. The faiInrs
t. <. d. ators at said second meetins
ton, but the incumbent officers shall "a.
main in Office and there shall be no elac.
ton Of directors by stockholders until ~.
date Of the next annual meeting.
The Directors, as soon as possible3 .ft.,
their election, shall qualify. take ofsca
and elect from among their numbsr :
President, q Vice-President. a Secret,rr
and Treasurer. The said Board sh.H
further elect each year General Manacsr
who shall be one of the members of sad
Board, and who shall have the power ~
generally manage the business. The
Board of Directors shall have the pover
to appoint agents and employees, and ~
enact such bylaws, rules and regulations
as they may deem necessary and prone,
for the conduct of the business of this en-.
pOration, and in case OF a vacancy on IN.
Board of Directors, or among the officer.
! from death, resignation, removal or anv
other cause. the said vacancy shall h
filled by the remaining directors at a
special meeting called for that purpose
after three DAYS notice thereof has bean
given in writing to the remaining members
| Of the Board.
ARTICLE VI.
Except as otherwise provided In ArtcI.
V. notices of all meetings of Stockholders
| for the election of directors or for anv
other purpose shall be given in writing bv
| the Secretary at least ten days before the
date fixed for such meeting and shall
| be delivered personally to the stockhold.
ers or deposited in the mail, directed to
each stakeholder to his address as ths
| same shall appear upon the books Of the
| notices required by this charter NAV ba
| waived in writing by any or all of tSe
| stockholders appearing as such upon the
| books. At all such meetings each stock.
holder shall be entitled to cast one vote.
either in person or by proxy. for each
share of stock owned by him a I'd standing
| in his name on the books Of the COMPANY.
and, except as herein otherwise provided,
| a majority of the votes so cast shall be
questions voted upon.
ARTICLE VII
No stockholder may offer for sale, assign
or transfer his stock in this corporation
without giving to the other stockholders
thirty days notice of such int ntion, which
shall be given in writing to the President
who sha ! thereupon Immediately commu.
nicate said notice in writing to each and
every stakeholder of record in the manner
set out in Article vi for notice of stock.
holders meetings., and the other stock.
holders shall have the first privilege Of
purchasing the said stock at the BOOK
value thereof for period Of thirty days
from the delivery of said notice to the
President, after which thirty days said
stock may be sold in the open market.
ARTICLE VIII.
Except as to the increase or decrease OF
manner and form required by law, this
act of inc Jrporation may be CHANGED,
modified, or altered, or the corporari,n
may be dissolved by a vote OF three.
fourths In amount of the capital stock
present or represented at meeting Of the
stockholders called specially for that pur-
pose. provided that in order to dissolve
the corporation at least a majority Of the
entire capital stock must be present or
ARTICLE TX.
Upon the termination of this charter
by limitation or upon the dissolution Of
the corporation, the business and affairs
of the company shall be liquidated BY
three commissioners. elected from the
stockholders at a general meeting called
for that purpose: said commissioner
shall have entire charge Of the liquidation
with authority to sell and dispose of the
assets of the corporation. and In case Of
the death or resignation of commission.
er during the term of his duties, or in case
of his failure or refusal to act, the remain.
ing commissioners shall declare the ofEics
vacant and shall elect successor from
among the stockholders.
ARTICLEX.
No stakeholder shall ever be held liable
or in any manner responsible for the CON.
any unpaid balance that may be due to the
corporation on the shares Of stock sub.
scribed for by him; nor shall any mere Ia.
formality in this act, or in the organization
Of this company, have the effect of render.
ing this charter null or of exposing stock.
holders to any liability beyond such IN.
paid balance.
Thus done and passed, in my Office, q
Franklin, Louisiana, on the day, month
presence of Murphy J. Foster and
Mary Feske, competent witnesses, who
hereunt0 sign their names with said ap.
bearers and me, Notary, after due read
Ing of the whole.
WILSON T. PETERMAN, shares
r. NJ. MILLING, 6 shares,
j. A. PErERMAN, 6 shares,
l.. A. LOUSTALOT, s shares. =
ROBERTS C. MILLING, 6 shares.
Witnesses:
MURPHY j. FOSTER,
MARY FESKE.
W. PRESCOTT FOsrEa,
Notary Public.