St. Landry clarion. (Opelousas, La.) 1890-1921, 1915-03-13

Louisiana.
ARTICLE X.
The amount Of the total author
lied Capital Stock of this corpora
ton is One Hundred and Fifty
Thousand Dollars fS150.000.003
divided as follows: Fifty Thou
sand Dollars {~s50,0o9.0ol Of which
stock shall be common stock, di-
vided into ten thousand 10000
shares Of Five Dollars 500 each,
and One Hundred Thousand Dol
lars {si000,000.001 of which Cap
itai Stock shall be seven per cent
dividend, non-participating and
non-voting preferred Stock over
the common stock, divided into
One Thousand shares $1,000 of
One Hundred Dollars {Sf00.0O1 each,
the dividend on which preferred
stock shall be paid out of the net
earnings Of the Company, all OF
which common and preferred
stock, when issued, shall be paid for
in cash or issued at par in pay
ment of property actually puf-
chased or services actually render
ed to the corporations, which said
stock when fully paid for shall be
worcestershire, and this company
shall have authority to commence
business and be a going concern as
soon as fifty per cent of its capital
stock is subscribed for.
ARTICLE Y.
All of the powers and business
Of this corporation shall be vested
in and exercised by the Board of
Directors, unless otherwise pro-
vided for, said Board of Directors
shall consist of three (3) stockhold-
ers, a majority of whom snail con-
stitute a quorum for the transaction
of business.
Said Directors shall be elected an
nually from among the common
stockholders, on the second Tues
day of January, each year, after
due notice Of holding said elect
ton shall have been given to the
stockholders by mail, to,
his last known address. sent ten
days prior to the holding Of said
election. Said notice may be!
waived in writing. Each share Of
stock is entitled to one
vote, provided, however, that the
failure Of the Company to pay a
dividend on the preferred stock
for a period of two II years shall
give the preferred stock equal yot-
ing power with the common stock.
i. e. each share to be entitled to one
vote,t this company ~feserying the
right to redeem all or any part ofsaid
preferred stock at par and five peri
cent premium, after five years by
90 days notice as provided
for in the certificate.
Thel Board of Directors shall
elect from among their number al
President, a Vice President, and a
and Treasurer, who shall
be a stakeholder; all such officers
and directors shall hold their re-
spectiye offices for a period of one
year from the date Of their election
Or until their successors are cleo
ted, but the failure to hold an an
nual meeting Of the stockholders, or
10 elect officers as above provided,
shall not result in. the dissolution
this corporation or otherwise
affect its business but the then
Of Directors and officers
shall hold their offices until their
successors are duly elected. Any
sacancies occurring III sid Board
If Directors shall be filled by the
'emaining members OF the Board Of
for the unespIred term
It a meeting called for tli,.t pur-
Jose. Said Board Of Direcsyrs shall
lave the power to MAKE az bylaws
md rules for the pur-
Jose Of the proper manage
nent and conduct of the affairs 0f
his corporation and to change
liter or amend same,and In ir-
the members IF Direct. rs
when they deem it E;i@ interest -
he company.
The first Board Of Directors oi
his corporation are hereby de-
dared to be for the first yea,
w. Krotz, a resident of Kroh
Springs, La, who has subscribed
nd paid for twenty E205 shares
f common stock; ). K. Doak, a
esident Of krotz Springs, La. who
las subscribed and paid for twenty
201 shares of common stock; Alva
lrotz, a resident of krotz Swings,
IA, who has subscribed and paid
or twenty {20} shares of common /:
took. with C. w. Krotz, President,
Iva W. Krotz Vice President, J.
Doak, Secretary and Treasurer, {
one person may hold the offices or
.ecretary and Treasurer who shall !
odd their respective offices I'M /!
il their successors are duly cleo
ed.
1t shall be the duty of the Pres
lent of this e~orvoration or in the
vent of his absence or inability to
ct, the Vice President, to call a
peciai meeting of the Board of
directors. or Of the. stockholders