The herald. [volume] (New Orleans, La.) 1905-1953, 1914-01-01

the par value of one hundred $500 dollars
each which shares shall be paid for IN cash
at such time and in such manner as the
board of directors may determine, ana salu
stock may be issued by the board OF direc-
tors in payment of property or other things re-
ceived or purchased by said corporation, or
for labor done or services rendered, as may
be determined by its said board OF direc-
tors.
This corporation may commence the trans
action of business under its corporate name
as soon as three thousand $4,000 dollars OF
its capital stock shall have been subscribed
for Certificates of stock fully paid and non
assessable shall be issued to each subscriber
TO the amount paid by him it therefor.
The capital stock of this corporation may
be increased diminished upon complying
with the laws of the state OF LOUISIANA rela.
tive to the altering of the capital STOCK oil
corporations. =,
Article V-Certifcates of the capital stock
shall be executed by the president and the
secretary under the seal Of the corporation.
No certificate shall be issued until the capital
stock evidenced thereby shall be fully paid.
Certificates OF stock shall be transferred on
the books of ghe company under such rules
as the board of directors shall determine. No
transfer of stock shall affect the company
until the same shall be registered on the
company's books. No transfer or sale OF STOCK
| shall be made by any stakeholder until the
corporation shall have been offered the same
| in writing and shall have refused TO pur'
chase the same. The corporation shall have
| the hrSt right TO purchase at It's oooh NdiNt
as carried on the books of the company al
| stock offered for sale, which option to pur
| chase in favor of the company shall exist foi
| a period of fifteen U5) days after said stocE
| shall have been offered in writing TO the cor
| poration as being for sale.
| Article NI.-All the corporate power OF thi:
corporation and the management and contro
of its affairs shall be vested in and exercised
by board of directors composed OF not less
| than FIVE 81 stockholders, a majority Of whom
| shall constitute a quorum for the TRANSACTION
| of all business, but the stockholders may a
| regular or called meetings increase this mum
| Der of directors as they may see mt, or the!
NAV decrease the number of directors at an
| nual meetings TO any number as may b.
deemed at by them, but they may not dc
| crease that number to less than hVe. IN
directors shall be elected annually by tn
| stockholders at a meeting to be held on III
| second Wednesday of each year in the mont
of January, said meeting TO be preceded b
ten days written notice to the stockholders
Each stakeholder shall be entitled, IN pei
son or by proxy, to a vote for every share Q
stock owned by him, and all elections sha
be held under such rules and regulations
may be determined by the board OF directors
At such meetings all questions other tina
routine shall be decided by a majority {
the stock present or represented at such NEE
ing.
The directors when elected shall continu
in office for one year and until their succe
sors have been duly elected and have quail
fed. No failure to elect shall operate II
forfeiture of this charter. Any vacancy o.
curing on this board shall be filled by u
board Of directors for the uneXpired term.
board of directors shall, at the first meetir
after its election, elect out OF its number
Ipresident and one more Independents,
manager and also secretary
Immediately after the signing OF this cha
ter, the stockholders shall without furth'