The herald. [volume] (New Orleans, La.) 1905-1953, 1915-04-29

the holder of such stock shall be
| entitled to the amount deposited as
I aforesaid and shall have no further
| right or claim against said corpora
| ton or interest in its business and
affairs.
Should said corporation he dissolved
| before the preferred stock shall be
| redeemed, then its net assets shall be
| used first to redeem the preferred stock
and, after such redemption, the remain
| ing net assets shall be ratably distribu-
! ted and divided among the holders of
| common stock.
No transfers of stock shall be bind
ing upon said corporation unless made
upon the books, and all certificates Of
| stock shall be signed by such officers
| as may be designated by the Board of
| Directors
| The said corporation shall at once
become and be going concern and shall
| commence business.
| The said capital stock may be in
creased from time to time TO any
amount not exceeding one million
| dollars such increase to be made as
provided by law.
| Article V.-All the corporate powers
of said corporation shall be vested in.
and the management and control of its
affairs shall be exercised by Board of
| Directors, composed of not less than five
nor more than nine stockholders. as
the Board of Directors may determine
| from time to time. Each director shall
own at least ten SnareS or common
stock, and the directors shall be elected
annually by the holders of common
stock, by ballot on the Thursday
following the first Monday in February
the first election to be in 1916. Notice
shall be given by mail, addressed to
leach holder of common stock at his
place of residence as shown on the books
of the corporation, said notices to be
mailed not more than three weeks nor
less than two weeks before such cleo
tion.
| All elections shall be held under such
rules and regulations as may be fixed
by the Board of Directors; provided,
that each holder of common stock shall
be entitled, in person or by proxy, to
least as many votes on each share of
stock owned by him as there are direc-
tors to be chosen, which votes may be
given for one person or may be divided
among several persons. not exceeding
the number of directors to be chosen,
and. provided, also. that no fractional
votes shall be considered. From the
persons thus voted for, there shall be
taken first the one having the greatest
number of votes, second the one having
the next greatest number of votes, and
; | so on until the number thus taken shall
be equal to the number of directors to
be chosen; and the persons thus elected
, shall be and constitute the Board OF
, Directors, and shall continue in office for
one year, and until their successors
shall have been duly elected.
In case of any failure to hold ar
election, as above provided, such failure
shall not forfeit this charter, but an cleo
tion shall be held soon as may be prac-
, ticable after notice as above provided.
, Each Board of Directors, at it's first
meeting after each election, shall elect
from its number President and a
: Vive-President; and shall also elect g
Secretary and Treasurer who may be
) members of the board or not as the
] directors see fit; and both of saic
i offices may be held by one and the same
| nd rrao as
may be determined by the board.
r A majority of the directors shall
constitute quorum for the TRANSLATOR
E of all business. and any vacancy occur
ring on said board shall be filled by
{ the remaining directors for the un
t expired term. The said board, or sucf
officer or manager as II may designate
: shall appoint such officers, managers
E clerks and other employees of saiC
corporation as may be necessary for it:
| business and shall dismiss the same
E and the tenure of office and employment
= of all officers, managers. clerks and
employees shall be during the pleasure o.
said board.
f The said board shall have the RICH
r and power to buy, sell, improve, con
| tract, lease, borrow money, issue bonds
: and execute mortgages, and. in general
$ to exercise all the powers of the cor
E poration, as well as to carry out III
objects and purposes all withou
reference to or authorization by thu
stockholders--but nothing herein shall
4 | give said board any authority to inter
S fere in any manner with the rights
the holders of preferred stock.
Z , From time to time said board shall
adopt rules, regulations and bylaws 70
q the management and control OF the busl
a ness and affairs of said corporation, and
s in it's dissertation. shall cancel, chang
4 and modify the same.
ArticleVI-No subscriber hereto o
4 stockholder of the corporation shall eve
: be held liable or responsible for the con
Y tracts, faults or debts of said corpora
T ton; nor shall any mere informally II
= its organization have the effect o
h rendering this charter null, or of ex
posing any subscriber or stockholder I
any liability beyond the unpaid balance
e If any, due on the share subscribed 10
y or owned by him.
q Article VII.-This act of incorpora
! ton may be changed, modified, o
I altered, or said corporation may b
dissolved, with the assent of the holder
e of two-thirds of the common stock o
e the corporation, whose owners ar
: present and represented at genera
d meeting of the holders of common STOCK
y after at least thirty days written motto
t. of such meeting has been given throug
o mail, addressed to each stakeholder a
/, his place of residence, as shown on tn
hooks of the corporation, but no change
e modification, alteration, or dissolution
il shall in any manner abridge, affect, o
d interfere with the rights and privilege
y of the holders of preferred stock,
t established herein,--this charter being
d contract between all parties in interes
e as to said rights and privileges.
e In case of dissolution, whether by tn
d expiration of this charter or otherwise
r the holders of common stock shall cleo
f three liquidators from among their mum
d Der, to liQuidate and settle the bushes
=, and affairs of said corporation, in cas-
n of death, or disability of any said liqul
h ldators the survivors, or the remainin
II lliquidators shall appoint a successor t
j. such liquidator. Said liquidators ar
d hereby given full power, either by cour