The herald. [volume] (New Orleans, La.) 1905-1953, 1915-08-05

ness and be a going concern until ten thou
sand (SlO,O0OO) dollars of the capital stock
shall have been issued and paid for either
IN cash, services or in property as aforesaid
II any OF the aforesaid stock of this corpora.
! ton is paid Tor in property in mat event the
terms and provIsions OF Section (two) al
| Paragraph C of Act 267 of 1914 shall be
strictly complied with.
Article N.-All the corporate powers of thi,
corporation shall be vested in and exercised
by Board of Directors to be composed OF
fifteen Q5l stockholders. each of whom shall
own in his own right, during his term of of
hce, at least one full-paid, non-pledged share
of stock, which shall be shown by his writ.
ten declaration, eight (S) of whom shall con
stitute a quorum for the transaction of bust
ness.
The officers of this corporation shall con
| sIst OF president first vice-president, sec.
| rotary and treasurer. all of whom shall be
members Of the Board Of Directors, and shall
be elected by the Board of Directors at their
first regular meeting after the first Monday
IN August, each year, beginning with the
year 1916.
The following named persons shall consti,
tute the Board of Directors of this corpora
ton. to-wit: b. 5. Hood, J. I. Bulard. A.
y. EasteTling, J. r. Lilly; l. II, Price, J. p.
G. Woods, F. ii. Carruth, Jr.. ii, \. Phar r.
{. a. Reisor, \. w. Carlson, J. w Parker,
J. A: Bishop, with II. n. Pharr as president,
l.. II. Price as first vice president, A W.
Carlson secretary, and a. W Carlson as
treasurer, and these directors and officers
shall serve until the first Monday in August,
1910, or until their successors have been duly
elected and qualified.
Thereafter the directors shall be elected an
nually on the first Monday in August of each
year, beginning with the year 1916; all cleo
tions Of directors shall be by ballot or viva
vOce vote, and each stakeholder shall be en-
titled to one vote for each share of stock
standing in his name the books of the cor
poration, this vote to be cast in person or by
proxy, and it shall require majority of the
stock present represented TO elect.
The failure to elect the Board of Directors
on the first Monday in August, 1910,
nually thereafter shall not work a forfeiture
of this charter, but the old Board of Direc-
tors shall remain in office until their success
ors are elected and qualiheo
Article NI.-The Board of Directors shall
hold regular meetings at such times as shall
be fixed in the bylaws OF this corporation.
These meetings shall be held at the domicile
of the corporation, but the president may
call special meetings of the Board of Direc-
tors at such times as he may deem advisable,
and he shall be required to call such spe-
cial meetings whenever requested to do so
by three members of the Board of Directors.
Three days notice of such special meetings
shall be given in writing 10 the directors
unless waiver of notice is signed by the di-
rectOrs. Any vacancy occurring on the board,
or among the officers, either yrom death, resig-
nation, or inability to serve, shall be filled by
the Board of Directors at its next regular
meeting after such vacancy shall have &C.
Cured The first Board or Directors of this
corporation shall be required to draft suitable
bylaws for the government OF this corpora
tlon, which may be altered, amended or
changed as the exigencies of the case may
require.
Article VII.-The stock of this corporation
may be transferred, provided such transfer
shall be recorded upon the books of the cor
poration before 1t shall be required TO recog-
nize the transfer OF the new holder Of said
stock.
Article vIII.-This charter may be modi-