The herald. [volume] (New Orleans, La.) 1905-1953, 1915-08-12

ness and be going concern until ten thou
sand (Sl0OOOO 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 for in property, in that event the
terms and Provisions Of ,6 Section Io, qwG) 9,
strictly complied with.
Article VAL the corporate powers of this
corporation shall be vested in and exercised
by Board of Directors to be composed of
own, in his own right. during his term of Of
fee, at least one full-paid. non-pledged share
of stock, which shall be shown by his writ
ten declaration, eight () of whom shall con-
stitute a quorum for the transaction OF busi-
ness.
The officers of this corporation shall con-
sist of a 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.
7 &astf5liqg, j r. Lily; T. II; Price. j. ?
G. nE Woods H. h.eS caT1uth Jr M H. y Phar
c. A. Reiser, A. w. Carlson, ]. w. Parker
J. A. Bishop, with H. ~ Pharr as president
L. II. Price as FIRST vice-presIdent, A. w
Carlson as secretary, and A. W. Carlson as
treasurer, and these directors and officers
shall serve until the first Monday in August
1916, 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 or represented to elect
The failure to elect the Board OF Directors
on the first Monday in August, 1916 or an
nually thereafter shall not work forfeiture
of this charter, but the old Board Of Direc'
tors shall remain IN office until their success
ors are elected and qualihed. =,
Article VI.-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 me donlclit
of the corporation, but the president may
call special meetings of the Board OF DiIec
tors at such times as he may deem advisable
and he shall be required TO call such spe
cial meetings whenever requested to do 81
| by three members of the Board of Directors
| Three days notice of such special meetings
shall be given in writing TO the directors
unless waiver of notice is signed by the di
| rectors. ANY vacancy occurring on the board
or among the officers, either rom death, resig
| nation or inability to serve, shall be hlled d!
the Board of Directors at its next regula
meeting after such vacancy snail nave oc
cured The first Board or Directors OF thu
corporation shall be required TO draft suitabl
bylaws for the government OF this corpora
| tion, which may be altered, amended o
| changed as the exigencles OF the case ma
Article VII-The stock of this corporatio
NAV be transferred, provided such transte
shall be recorded upon the books OF the col
poration before II shall be required TO recos
nize the transfer or the new holder OF sal
Article VIII.-This charter may be mod