The herald., 1915-01-14

landings, piers, station houses, and other
improvements necessary, and to use and oper-
ate all floating crafts as the needs of the
business may dictate; in furthering the OBJ
jects and purposes of this corporation, II shall
have the right to extend the operation of its
affairs to any point within the State which
may be deemed advisable without the State
as its necessities may require, at which point
branches may be established. 1t shall have
the authority to contract for the construction
of all necessary structures and edificeS, to
develop town sites IN connection with the
work of reclamation and developing and 10
lay out streets, roadways and alleys for the
convenience of the inhabitants and in gen.
eral to do any and all things that may be
incidental to any OF the lines of business here
tofOre set forth
Article IV.-The capital stock of this cor
poration is hereby fixed at the sum of Ten
Thousand CSl0O0O.O0 Dollars, divided into
and represented by One Hundred (l00 shares
Of stock at the par value of One Hundred
$4,000 Dollars per share. Said stock shall
be paid for in cash at such time, and after
such notice TO the subscribers rs the Board
of Directors may fix, or the same may be
issued at not less than par for labor done
or services rendered for the said corpora
ton, or property or rights actually received
by said corporation.
The amount, to which the capital stock may
be increased shall at no time exceed
Two Hundred and Fifty Thousand (S25O,OOO)
Dollars.
This corporation shall become going con-
Germ, and shall be authorized to commence
business when and as soon as Five Thousand
S5,0OOOO) Dollars of its capital stock shall
have been subscribed and paid for.
Article V.-All of the corporate powers of
said corporation shall be vested in and exer:
cised by Board of Directors, to be composed
of not more than five () and not less than
three 90 stockholders, a majority of whom
sitting at any time shall constitute a quorum,
| second Monday of February, beginning in the
year 1915. Each stakeholder shall be entitled
| in person, or by written proxy, to one vote
| on each share OF stock owned by him and
standing in his name on the books of the
corporation. All elections shall be held un.
| der such rules and regulations as may be de.
termined by the Board of Directors, but, after
| legal notice of such election shall have beer
| given to such stakeholder by mail sent to hi:
last known address or by publication in one
of the daily newspapers published in the Eng
| lish language in the City of New Orleans
| for at least 1G days preceding such election
| office until their successors shall have beer
| duly elected and qualified. No failure e
| elect shall be regarded forfeiture of thi:
| charter. Any vacancy occurring on said BoarC
of Directors shall be filled by the remaining
! directors for the unexpired term. Said BoarC
Of Directors shall, at its first meeting afte
| its election, elect from its members a Pres
| ident, one or more Vice-Presidents, Sec
rotary, Treasurer, and Manager; 1t ma,
| combine the office of Secretary and treasure
| into one and may even elect a Secretary whit
| need not be a stakeholder or director. SaiC
| Board OF Directors shall have the right anC
power to appoint and dismiss such clerk
and employees of the corporation, includin,
the Secretary who is not a stakeholder o
director, as conditions may justify, or tn,
| business OF the corporation may require. TIT
tenure of office of all the employees of tn,
corporation shall be during the pleasure of tn,
Board of Directors. The Board of Director
may from among its members appoint an Elk
eeutive Committee, which said COMMITTEE,
shall consist of three CD members, Including