The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1915-03-20

household furnishing business. wherever
it may desire, with power to buy, sell
aud exchange all classes of goods.
wares, and merchandise, etc and to,
if desired. operate in connection there
with wholesale and jobbers business
in such line or lines as it may desire to
handle; and to open such branch stores
as it may desire; and III the inter-
est of such business to make such
advances as are required; aud to carry
out the purpose hereof, it shall have the
power to purchase and acquire real es-
tate, erect buildings thereon. lease, let
and rent same, and to receive security
by way of mortgage and pledge, or in
any other manner, and to borrow money
and to issue notes and secure the same
by mortgage, pledge or otherwise; and
generally to do all things necessary and
proper pertaining or incident to such
| business.
ARTICLE w.
| The capital stock of this corporation
is hereby declared to be the sum Of Ten
Thousand $50, 000.00) Dollars, divided
into one hundred (100) shares of the par
value of One Hundred (slO0.0Q) Dollars
each: and this corporation shall be Ope-
rative and go into business and become
going concern when Five Thousand
(S5. OOO.00) Dollars of its capital stock
shall have been subscribed and paid fer
to-wit at the execution of these pres
eDts No transfer of stock shall be
binding upon this corporation unless
same appears on the books thereof,
transfers only to be made upon the sur
render of The certificate of stock and by
or under the direction of the President
and Secretary of this corporation.
No stakeholder shall have the right
to assign or transfer any share or shares
held by him unless he shall have first
: offered same in writing to the Board OF
Directors. which will have the right to
purchase same within ten days there
after. at the valuation determined by
the Board; and in case of dissatisfac-
ton as to the price the matter shall be
arbi,rated, one arbitrator with powers
of amicabe cOmpounders TO he appoint
ed by each side, and an umpire To be
selected by those two. who shall take
oath. and whose decision shall be final,
And all shares of stock when 50 pnr-
chased may be reissued at not less than
par value.
ARTICLE V
l. The corporate powers of this corpo-
ration shall be vested in a Board OF
Directors to be composed of not more
than five ~ stockholders, and not less
than three 81 stockholders, two OF
whom shall constitute quorum, saio
directors to be elected at a general
meeting, to be held on the second
Tuesday in the month of July. each
wear. No person shall be eligible as 6
director unless he owns in his own name
one "a share, full paid. of the capta
stock.
2. The Beard of Directors shall have
The power to make all bylaws, rules
/ and regulations necess ,ry for the con
duct of the business affairs of said cor
poraiion: shall elect from their numbel
a President, Vice-President, Secretary
and Treasurer, or may combine ths
office of Secretary-Treasnrer.
3. Until the election to be held a
hereinabove provided, the following
shall constitute the first Board o
Directors, viz:
f. A. Boudreaux, Franklin, St. Mar!
Parish La.
Mrs. A. 7. Boudreaux, Franklin, st
Mary Parish, La.
S. j. Boudrcaux, franklin, St. Mar,
Parish, La. =. ,,,r,
/ A. L. Boudreaux, Berwick, ST. Mary
Parish. La. ,o:,y.
With E. A. Boudreaux as PRESIDE I
Mrs a. |. Boudreaux as Wee rresi'ieh'
S. J. Boudreaux rs secretary ana "A
l.. Boudreaux as Treasurer
: = Thus done and passed at my , ei'ic'
in the Town Of Fra an tb. ST. S,v Mary larry
: 40 e. G,st above written. in the presence
20 Tra W. Schwartz and w. II. Latham
! onmpetent witnesses, who have here
INTO subscribed their names with sale
srpe arers and me- Notary, after reading
Of the whole.
| (Signed) E. A BOUDREAux,
And Others.
Witnesses.