St. Landry clarion. (Opelousas, La.) 1890-1921, 1915-04-10

State of Louisiana, with all the
powers conferred upon corpora
tons by the laws of the State of
Louisiana.
ARTICLE ~.
The amount of the total author
lied Capital Stock of this corpora
ton is One Hundred and Fifty
Thousand Dollars {Sf50,000.o0)
divided as follows: Fifty Thou
sand Dollars (%s50,0oo.00l of which
stock shall be common stock, di-
vided into ten thousand 100000
shares Of Five Dollars 500 each,
and One Hundred Thousand Dol
lars (siOOo,000.00) Of which Cap
ital Stock shall be seven per cent
dividend, non-participating and
non-voting preferred Stock over
the common stock, divided into
One Thousand shares 10000 OF
One Hundred Dollars (Si00.0O) 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 pur-
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 (34stockhold-
ers., a majority of whom shall con-
! stitute a quorum for the transaction
of business.
Said Directors shall De 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
common 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 sof
icommon 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 l21 years shall
give the preferred stock equal yot-
ing power with the common stock,
Ii. e. each share to be entitled to one
vote,tlis company ~reserylng the
right to redeem all or any part ofsaid
preferred stock at par and five per
cent premium, after five years by
giving 90 days notice as provided
for in the certificate.
TheI Board of Directors shall
elect from among their number a
President, a Vice President, and a
Secretary and Treasurer, who shall
be a stakeholder; all such officers
and directors shall hold their re-
spective 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
nuaI meeting of the stockholders, or
to elect officers as above provided,
shall not result in the dissolution
of this corporation or otherwise
affect its business but the then
Board of Directors and officers
shall hold their offices until their
successors are duly elected. Any
vacancies occurring IN sid Board
of Directors shall be filled by the
remaining members of the Board OF
Directors for the uneSpired term
at a meeting called for thai pur-
pose. Said Board of Directs shall
have the power to make al bylaw.
and rules for the pur-
pose of the proper manage
ment and conduct Of the affairs Oh
this corporation and to change
alter or amend same,a and To in
crease The members ST Directors
when they deem it the interest u
the company.
The first Board of Directors Oh
this corporation are hereby de-
clared to be for the first year
C. w. Kretz, a resident of Krotz
Springs, La, who has subscribed
and paid for twenty 20 shares
of common stock; J. K. Doak, a
resident of Krotz Springs, La, who
has subscribed and paid for twenty
20 shares of common stock Alva
kretz, a resident of Krotz Swings,
La, who has subscribed and paid
for twenty {20) shares of common
stock, with G. w. Krotz, President,
Alva w. krotz Vice President, j
K. Doak, Secretary and Treasurer.
| lone person may hold the offices OF
! Secretary and Treasurer who shall
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