St. Landry clarion. (Opelousas, La.) 1890-1921, 1915-04-03

dispose Of any part Of the proper
ty so purchased, to conduct in any
lawful manner the whole or any
part of any business SO acquired,
and TO exercise all of the powers
necessary in and about the con-
duct and management Of such bus
mess and TO exercise all of the
rights, powers and privileges or
ownership Of property to the e1-
tent as natural persons might OF
could do, to enter into and make,
perform contracts of any kind,
with any person, firms, associations
or corporation, municipality, body
polite, country,territory, State or
Government, to draw, make, ac-
cept, endorse, discount, execute or
issue promiss0ry notes, drafts, and
bills Of exchange warrants, bonds,
debentures, or other negotiable or
transferable evidences Of indebt-
edness whether secured by mort
gage or otherwise, as well as to ser
cure the same by mortgage or 9TH
erwise, to do any and all OF the
things herein set forth to the same
extent as natural persons might
or could. as principals, agents, con-
tractors, trustee or otherwise,
alone or in company with others.
In general to carry on any other
business in connection Herewith
not forbidden by the laws of the
State of Louisiana, with all the
powers conferred upon corpora
lions by the laws of the State of
Louisiana.
ARTICLE II.
The amount Of the total author
lied Capital Stock of this corpora
ton is One Hundred and Fifty
Thousand Dollars (sf50,000.00l
divided as follows: Fifty Thou
sand Dollars (s50,00o.00l of which
stock shall be common stock, di-
vided into ten thousand 10000
shares Of Five Dollars $500 each,
and One Hundred Thousand Doll
lars (si006,00o.o0l of which Cap
ital Stock shall be seven per cent
dividend, non-participafing and
non-voting preferred Stock oyer
the common stock, divided into
One Thousand shares 10000 OF
One Hundred Dollars (sff0.0O1 each,
the dividend OH which preferred
stock shall be paid out of the net
earnings of the Company, all Of
which common and preferred
stock, when issued, shall be paid for
in cash or issued at par iii 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 eapItaI
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 (3lstockhold-
ers,, a majority of whom shall con-
stitute a quorum for the transaction
of business.
Said Directors shall be elected an
nuaIly 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
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
stock is entitled to one
vote, provided, however, that the
failure of the Company to pay q
dividend on the preferred stock
for a period Of two l2l years shall
give the preferred stock equal vot-
ing power with the common stock.
i. e. each share to be entitled to one
company reserving the
to redeem all or any part ofsaid
preferred stock at par and five per
cent premium, after five years by
90 days notice as provided
for IN the certificate.
Thel Board of Directors shall
elect from among their number all
President, a Vice President, and al