St. Landry clarion. (Opelousas, La.) 1890-1921, 1915-04-17

tons by the laws of the State Q
Louisiana.
ARTICLE Nv.
The amount of the total author.
lied Capital Stock of this corpora
3 ton is One Hundred and Eft,
Thousand Dollars (S~150,000.00)
: divided as follows: Fifty Thou
sand Dollars (~s50,O00.0G) of which
stock shall be common stock, oil
/ yided into ten thousand 10000
shares of Five Dollars $500 each
and One Hundred Thousand Dol,
lars $4,000, 100000 Of which Cap
ital Stock shall be seven per cen.
dividend, non-participating ant
non-voting preferred Stock ovel
the common stock, divided into
One Thousand shares 10000 0.
One Hundred Dollars (Sl00.0O) each
the dividend on which preferred
stock shall be paid out of the mel
earnings Of the Company, all OF
WIlCI CJIllhluH diId
stock, when issued, shall be paid fol
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 it's capital
stock is subscribed for.
ARTICLE Y.
J 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 (3lstockhold-
ers, a majority Of whom shall con-
stitute a quorum for the transaction
Of business.
Said Directors shall be 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 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 ~ years shall
give the preferred stock equal yot-
ing power with the common stock,
i. e. each share to be entitled to one
yote,this company r~eserying the
right to redeem all or any part ofsaid
preferred stock at par and five per.
cent premium, after five years by
giving 80 days notice as provided
for in the certificate.
Thel 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-
speetiVe 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
nual 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 oil
Directors for the unexpired term
at a meeting called for ills. pur-
pose. Said Board Of D~iraes,,s shall
the power to make al bylaws
and rules for the pur-
of the proper manage
ment and conduct of the affairs of
this corporation and to changed
OF amend same,anI 10 in-
crease the members Of DirectrrsI
when they deem it Ela interest ufI
the company.
The first Board Of Directors Of
this corporation are hereby del
to be for the first year
8. w. Krotz, a resident of krotz
Springs, La, who has subscribed
md paid for twenty (20) shares
If common stock; ). K. Doak, a
resident of Krotz Springs, La, who
las subscribed and paid for twenty
.20) shares Of common stock; Alva
a resident of krotz Swings,
Ia, who has subscribed and paid
or twenty (20) shares of common
stock, with C. w. Krotz, President,
Alva w. Krotz Vice President, j..
<. D0ak, Secretary and Treasurer,
one person may hold the offices OF
secretary and Treasurer who shall
lold their respective offices UNI
their successors r duly cleo
ed.
It shall be the duty of the Pres
dent of this corvoration or in the
vent of his absence or inability to
ct, the Vice President, to call