Lower coast gazette., 1914-05-02

dred products Of every nature and de
scription; breeding, raising, buying
selling, exporting, importing OR other
wise dealing in mules, horses, hogs
sheep, cattle and live stock of al
classes and descriptions; acquiring
holding, selling, managing ard oper
ating St. Clair plantation, Plaquemine
parish, state Of Louisiana; owning
acquiring the "Goudeau' variety Of
seedless orange; to borrow and loar
money and to engage in any and all
kinds of business that a natural per
son might or could engage in in the
United States, or in any part Of the
world, and in such business as the
board Of directors may deem to the
advantage of the corporation.
ARTICLE III.
Tit total authorized capital stock
of this corporation is Two Hundred
Thousand Dollars (S2o0, Oc0), divided
into two thousand 10000 shares of
the par value of One Hundred ($10O)
Dollars each. Of such total author
lied capital stock one thousand
10000 shares, amounting to One
Hundred Thousand ($100,OO0) Dol
lars, shall be preferred stock, and
one thousand 10000 shares, amount.
ing to One Hundred Thousand ($1Oo,-
000) Dollars, shall be om,mon stock.
Both the preferred and common
stock shall have the same voting
power in the election of officers and all
elections requiring the voting Of
dividends, when earned, shall
be declared equally among the pre-
ferred and common stock holders, and
without distinction.
The stock shall be paid in cash at
the time of subscription, or the same
may be issued at not less than par,
in payment or exchange for property
or rights actually received or pur-
chased by said corporation, or the
may be issued, full paid, for
money advanced, and for such other
valuable considerations or services as
tie board of directors OF said corpora
ton may determine; provided, that
no stock shall be issued until the con
therefor has been received
by the said corporation.
In the event of any liquidation or
dissolution or winding up (whcther
voluntary Or Involuntary Of this cor
poration, the holders Of the preferred
stock shall be entitled to be paid in
full the par amount Of their shares,
before any amount shall be paid to
the holders of the common stock;
after the payments to the holders
of the preferred stock of it's par value
TIE remaining assets and funds shall
be divided and paid to the holders Of
the common stock according to their
respective shares, but only up to the
par value Of same. After the pay
lnent to both preferred and common
stockholders as herein provided, the
assets and funds shall be
anu paid to the holders Of the
preferred and co1n:aon stock equally
and without distinction or advantage.
Any stakeholder may sell, assign Or
transfer his stock il this corporation
provided thirty (30) days prior notice
such intention to sell, assign OF
transfer the same be given the COM
pany, and the other stockholders
shall have the first privileges
Of purchasing same, at the book value
after which thirty days no.
ice the said stock may be sold In
open market.
The stock Of said corporation may
be transferred under the above con-
%ditions; provided, such transfer be
made or the books of said company,
1t It's Office, and On surrender of the
therefor. No transfer of
my fractional part Of q share shall
be made.
This corporation shall commence
.oing business as soon as Three
($3,00o) Dollars Of the
stock shall have been sub
for.
The board Of directors shall have
he right to determine how much
took shall be issued.
ARTICLE ".
The corporate powers Of this COM
,any shall be vested il and exercised
~, q board Of directors OF not less
han three l3) members, consisting
i tie president, vicepresidcnt, secre-
AIRY md treasurer (Which two offices
bc acid by nj person.. Two Of
aid board shall constitute : quorum
or the transaction OF business, and
heir decisions shall be valid and cor
acts.
This corporation shall be powerless
o contract debts Of any nature what
,oevcr, except upon the written con-
.ert Of boz, president and secretary
.reaSlirer.