St. Landry clarion. (Opelousas, La.) 1890-1921, 1915-03-20

tons by the laws of the State o
Louisiana.
ARTICLE ".
The amount of the total author.
lied Capital Stock of this corpora.
ton is One Hundred and FIT,
Thousand Dollars {si5o,000.00)
divided as follows: Fifty Thou
sand Dollars $3.50, 100000 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 (st000,000.00) of which Cap
ital Stock shall be seven per cent
dividend, non-partlcipating anC
non-voting preferred Stock ovel
the common stock, divided into
One Thousand shares 1000 Of
One Hundred Dollars $4,000 each
the dividend on which preferred
stock shall be paid out OF the mel
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 par
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 a fifty per cent OF its capital
stock is subscribed for.
ARTICLE v.
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 (5)stockhold-
ers, q majority of whom shall con-
stitute a quorum for the transaction
OF business.
Said Directors shall De elected a
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 of
common 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 III years shall
give the preferred stock equal vot-
ing power with the common stock.
i. e. each share to be entitled to one
vote, this company r~eserving the
right to redeem all or any part ofsaid
preferred stock at par and five per
cent premium, after five years by
80 days notice as provided
for in the certificate.
Thel Board of Directors shall
elect from among their number 2E
President, a Vice President, and al
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
until their successors r cleo
ted, but the failure to hold an an
nual meeting of the stockholders, OF
to elect officers as above provided,
shall not result in the dissolution
Of 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
vacancies occurring In sid Board
Of Directors shall be filled by the
remaining members OF the Board Of
for the u~neSpired term
at a meeting called for tlt;t pur-
pose. Said Board of Directors shall
have the power to make al bylaws
and rules for the pur-
pose of the proper manage
nent and conduct Of the a.fail,s Of
This corporation and to change
alter or amend same,and 10 in
crease the members Of Directors
when they deem it the interest If
,he company.
The first Board Of Directors OF
his corporation are hereby de-
to be for the first yea
J. w. Krotz, a resident Of Krotz
Springs, La, who has subscribed
md paid for twenty {201 shares
# common stock; J. K. Doak, a
'esident of Krotz Springs, La, who
las subscribed and paid for twenty
.20) shares of common stock; Aiva
Arotz, a resident of Krotz Swings,
"a, who has subscribed and paid
or twenty (20) shares of common
itock, with c. w. Krotz, President,
Alva w. Krstz Vice President, ].
{. Doak, Secretary and Treasurer,
one person may hold the offices OF
Secretary and Treasurer who shall
lold their respective offices un-
il their successors r duly cleo
ed.
It shall be the duty OF the Pres
- 49, H.