The Houma courier. (Houma, La.) 1878-1939, 1915-11-13

w VI
fered to be prorated among the
stockholders desiring to exercise
such option in the same proportion
tthat their holdings then bear to
leach other.
All shares Of stock shall be full
lpaid worcestershire and NO transfer
Iof stock shall be binding upon the
1c~orporatfon, unless recorded in the
books; provided that nothing in
1this act shall be constructed as pro-
nibiting the endorsement of the
isaid In blank or validly, ~pledging
ABee, transfaree or Pledge shall
ipossess and enjoy the ownership or
rights therein or thereto as evil
adenced by such endorsement, trans
Her OF pledge subject to the exer-
I9cise OF the option h~ereinabove writ
item for the benefit Of the original
lEtock-holders.
ARTICLE v.
Au the corporate powers Of the
Sorporation and the full manage
l1aent OF its affairs shall be vested in
and exercised by a Board OF Direc-
tnrs, to be composed OF five stock
Iholders, three OF whom shall con-
BISsitute q quorum for the transae.
LION OF business which Board #
directors shall be elected annuai,5
IAtHa stockholders meeting on The
Illrst Monday after the first day of
november each year beginning with
Ithe year 1916. All elections shall
~ by ballot, each stakeholder be-
l19 entitled to d vote for eacil
share owned by him, and the ma.
lJority OF the votes cast shall elect.
Written notice OF each annual
stock-holders meeting shall be mail-
go TO each stakeholder at least ten
lays prior thereto; but any failure
hold such q meeting or to elect
directors shall not invnlidate this
Ieorporation nor the sets OF any OF
lts officers, but the incumbent
boar OF Directors shall continue to
serve until their successors are
siected and qualified at any stock
holders meeting called and held for
that purpose, after ten days written
aotice to each stakeholder.
The Board OF Directors shall al
its first meeting select from among
It's number q president, a vice
president, a secretary and treasur-
eT, both OF the latter positions may
be held by the same director, but
ne secretary shall not necessarily
be y director.
-Any vacancy on the Board may be
iilled for the ~unexpired term by
the directors.
III shall be the duty of the Board
Of Directors to formulate such by
avs, rules and regulations defining
l aff0 HatfInc fir6t, a& 80 n - :, 49,,
powers Of the several officers, and
concerning the management and
-onduct OF the corporate business az
they ma deem advisable. wise and
consistent with this charter and the
Jaws OF the State, and to alter, re-
oke or change the same at any
segtllar meeting of the Board.
The first Board OF Directors shall
consist OF i. Arthur Daspit, Houma,
La, President; Teles P. Blanchard,
Bourg, La, Yice-President; Paul
Dupont, Houma, La. Treasurer;
Milton r. Beauya4s, Houma, La,
Secretary. .. ". Carson, Paradfs,
ARTICLE Nv.
This act OF incorporation NAV be
amended or this corporation dis
IsClYed in accordance with the pro-
y sfsi0ns Of law ia such cases made
and provided.
ARTICLE VIII.
No stock-holder Of this corpora
lion shall ever be liable or response.
bleSfor any contracts OF faults here
ol IN any further sum than the un.
lpad balance due on the stock sub.
lEcrtbed for, nor shall any informal
ity in organization have the effect
of rendering this charter null or o.
exposing q stakeholder to any great,
scr liability than any unpaid balances
lupon the par value OF this stock.
The subscribers hereto have writ,
ten opposite their names the mum
jber OF shares subscribed for ST
That this act may serve as the orig
anal subscription list. And there il
annexed hereto an accurate detaile,
and itemized description OF suci
property. as to amount, location. ex
tent, character and State OF I'm,
proyement, together with a state,
ment Of its value as appraised By
the directors herein, as Is sub
scrihed or rendered in whole or IL
part payment for capital stock.
Thus done and passed at my of
flee In the City of Houma, Stats
and Parish aforesaid on the da,
and month and year first above
written.
In FAITH WHEREOF, the par
lies. witnesses hereinabove named
and I. said Notary Public. have
signed these presents after due
leading of the whole.
All interlineations and erasure
made and approved before signing
and each separate page hereof iden
lifted with my official signature ant
seal.
WITNESSES:
Herbert l.. Chauvin,
Frank Wurzlow tSigned):
j. Arthur Daspit, ! share
M. r. Bauvais, i share
r. r. Blanchard, tpel
NJ. r. Bauvais, ] share
J. w. Carson, (per M
r. Bauvais, l share
p. J. Dupont, l share
CALVIN WURZLOW,
Notary Public