The Era-leader. [volume] (Franklinton, La.) 1910-current, 1916-12-07

The capital stock of this corporation
may be increased to the sum of Fifty
Thousand $50, 000.00) Dollars in &C.
cordance with the provisions of law
pertaining thereto.
In case of any increase in the cap
ital stock, the stock holders of record
at the tine of such increase shall have
the preferment right to subscribe at
par for any such increase pro rata to
their respective holdings.
ARTICLE VI.
All the powers Of this corporation
shall be exercised by Board of Di-
rectors. to be composed of three ~
stockholders, to be elected at the an
nual meeting OF the stockholders.
The persons named as Directors, all
of whom shall be stockholders in the
corporation, shall elect from their
number a President. Vice President,
and Ia Secretary-Treasurer, all of
whom shall be under the authority
and supervision OF the Board of Di-
rectors. The first Board of Directors
with their respective addresses, are
as follows:
r. r. CoWAN, Hattiesburg, Miss.
j. D. KERR, Franklinton, La.
W. c. STORM, Franklinton, La.
Until the first meeting of stockhold-
ers, r. R. Cowan shall be President,
J. D. Kerr, VicetPresident. and w,
c, Storm shall be Secretary-Treas.
urer of the corporation,
ARTICLE VII
On the lst day OF September A. D.
1917, and on the same day of each
succeeding year, except when such
day shall fall on a legal holiday, in
which case the meeting shall be held
on the day following, the stockhold-
ers shall elect a Board of Directors
for the ensuing year; the Board of
Directors already installed shall con-
tinue to hold over until their success
sors are elected and qualified.
The Board of Directors SO elected
shall elect from their number the Of
fcers of the corporation as above
provided, and every such board may
appoint all such necessary managers
and agents as the nature of the bust
ness may require. The election of
Directors shall be by ballot and the
persons receiving the largest number
OF votes shall be declared elected.
For electing Directing, or for any
other purpose, each share of stock
shall be entitled to one vote and ma
jority OF votes shall be required to
pass any resolution or decide any
question submitted to the stockhold-
ers, except for the alteration of the
charter or the dissolution OF the cor
poration. Said Board of Directors
shall have power and authority to
make all necessary rules and regula-
tions for the management, operation
and control of the business of the
Corporation, and shall have power
to fill the vacancy occurring in their
number. A majority of the Directors
voting at one time, in person or by
proxy, shall be required to pass any
resolution or adopt any by law, and
which, when so adopted shall become
valid corporate acts.
ARTICLE VIII.
Notice OF all meetings of stockold'
ers for electing directors or for other
purposes, shall be given in writing by
the Secretary, such notice to be de-
livered personally or to be deposited
| in the post Office. properly addressed
to each stockholder, at his last know
residence appearing upon the books
OF the Corporation, at least fifteer
days before such meeting, unless such
notice is waived in writing by all the
stockholders appearing as such upor
the books.
ARTICLE TX.
This act OF Incorporation may b
modified, added to, changed or amend
ed, or this Corporation may be dis
solved, by and with the assent OF tn
holders of two-thirds in amount OF TIT
then outstanding stock, at meeting
/ of the stockholders convened ate
fifteen DAYS prior notice, as prOvidet