The herald., 1916-04-06

/ II aud ID, otherwise; the SAID common stock
7 shall. lu the event OF ANY liquidation o.
. dissolution rr winding up. whcthc. voluntary
/ 'r involuntary. OF tins corporation, be cutl.
/ t!ci 20 the rights accorded II by Section
hereof
All voting rights Of the corporation shall
/ he vested equally IN the common stock and
! IN the preferred stock at all elections OF
! directors or otherwise. each holder Of stock
/ being entitled % one vote Tor each share OF
! stock standing m his name the books oi
/ the company. No transfer Of stock shall be
made within Period Of five DAYS next pre-
yiouS 10 the date OF the election.
Separate stock books and stock registers
| shall be kept for each Of said classes OF stock
The whole OF both classes Of stock, Or any
part thereof. may be issued and delivered
| 90 any person, hrm OF corporation for the
requirement Of the rights, privileges. fran
Chl~c>. property, scrvltudcS. or any part
thereof owned and controlled by such person
Or corporation, also IN payment, settlement
and adjustment Of the costs fees charges,
expenses and COMM SslorS incurred FOR ser
wees rendered IN the formation and organ
izauou Of TINS corporation and in acquiring
and bringing about the purchase of the
Tor cash or in IuStallments Of such amounts
a. the board Of directors may determine. also
tor merchandise received OF for services
actually rendered to this company The
board Of dIreCtols hereinafter created IS
specially authorized TO dispose Of the stock
or any part thereof for any and all OF the
purposes ABOVE stated, as IN ITS Judgment
may seem far and proper.
Article N.-AN the powers Of this corpora
uon shall! be vested in and exercised BY
board OF not more than five 90 and not less
than three 90 directors, each Of whom shall
mold IN ms own name on the books OF the
company at least one % unpledged share Of
stock. Members Of said board OF directors
shall be elected Tor terms of three years at
the annual meeting OF the company which
shall be held on the FIRST legal day of Feb
rudry Of each year, provided that the drec-
tors hereinafter named shall hold Office for
terms as follows:
J. A. Stromberg. Esq, shall hold Office
until the annual meeting to be held in 1917
Or until his successor is elected and quail
r. H. Keep. Esq. shall hold Office until
the annual meeting to be held in 1918 or
until his successor Is elected and qualified
Eugene T. Barry, Esq, shall hold office
until the annual meeting to be held in 1919,
or until his successor is elected and quail
hed; and provided. further, that any duly
elected and qualified board Of directors com
posed OF not less than three directors may by
ship up 20 I'VE members and name the new
members who shall serve until the next an
uual meeting Of the stockholders. the intent
beng that portion only OF the board OF
directors shall be elected at eacn annual |
meeting. All such elections shall be by |
ballot at the office Of the corporation. under |
the supervision of three commissioners to be |
appointed by the board OF directors. and in |
dent shall have power to I'LL the place by |
appointment and OF all such elections, as /
well OF all meetings OF stockholders, ex- |
ccpt for the purposes of liquidation or disSO- |
luton, or as otherwise required by law, hf |
teen ClSD days notice shall be given by |
mailing to each stakeholder who appears as ,
such on the books Of the company, at his !
last designated address, or at the General |
Delivery at New Orleans. if he has not
address, or by delivery to |
him in person. an announcement stating the
time and place Of the meeting. Each share
holder shall be entitled to one vote for each
share Of stock, whether common or pre-
ierred, standing in his name on the books
ii the company, the said vote TO be cast in
person by proxy, and a majority of the
votes cast shall elect. The board of direc-
tors shall have the power to fill all vacancies
hat may occur the board. Failure to elect
directors on the day above specified shall
not dissolve the corporation, but the direc-
ors then in office shall remain in Office until
heir successors are elected and have quail
led. The board of directors at their first
meeting following each annual election shall
vice president, and they shall likewise elect,
out not necessarily from among their num-
Der, secretary, treasurer, and such other
officers as the board of directors shall deem
n its discretion, to unite two more Of
lCes and the same 70 confer upon one per-
son. 1t shall have the power TO fix the sal
irIes Of all officers and OF such further Off
,ers and agents as they deem necessary. The
board Of directors shall have the power to
make and establish, as well as alter and
amend, all bylaws, rules and regulations
necessary and proper for the support and
of the business and affairs of
said corporation not inconsistent with its
charter. Said board shall also have the
power and authority TO borrow money and
through the president some other fully au.
horIzed agent or agents to execute mortgages,
issue notes, pledges, bonds, or other obliga-
lions in such amounts and on such terms as
in their judgment may be advantageous, and ,
generally TO do all things reasonably neces-
5ary for the proper carrying on OF the bust
ness of said corporation, as also to issue and !