The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1916-08-18

be conclusive. This corporation is
authorized to commence business
when one-half of the capital stock
has been subscribed and paid for in
full.
Article V.
The corporate powers of this cor
poration are hereby declared, except
as may hereafter be stipulated, to be
vested in and exercised by board of
directors composed of not more than
nine (9) of its stockholders, which
said board shall be elected annually
oy said stockholders on the first
! Monday in January of each year; each
! stakeholder shall be entitled to one
vote for each share of stock held and
owned by him. and may cast his vote
in person or by written proxy; and
said meeting If stockholders shall be
preceded b! due notice according to
| law to each stakeholder at least fiji
teen days before such meeting; pro-
vided, however, that a failure to hold
said meeting of the stockholders and
to elect board of directors shall not
operate as forfeiture Of this char
! ter or any abandonment of any of the
rights secured by it to the stockhold-
ers, but the board of directors and
! officers shall hold over until their
successors are elected and qualified.
Other stockholders meetings may be
held when ordered by the board of
directors or the holders of twenty
five per cent of the outstanding
stock, and notice of all stockholders
meetings other than adjourned meet
f., ings, shall be given in the manner
prescribed for stockholders meetings
| for the election of directors, unless
such notice be waived, and all meet
ings of the stockholders shall be held
at the domicile of the corporation.
Article vi.
The Board of Directors, when elect
ed by the stockholders, shall select
from their own number a President,
Vice President, General Manager,
Manager of Field Operations, Secre-
tary and Treasurer, both of which last
named offices may be held by one
person. The respective officers shall
have the powers usually given to said
officers, and shall serve until their
successors hall have been elected and
qualified.
The President and Secretary, with
the approval of the Board of Direc-
tors, shall have the right, power and
authority to enter into and execute
all contracts of any nature which they
may see fit to make and to make pur-
chase, sales, leases, sub-leases, and
execute all other instruments as in
their judgment may be proper and
for the best interests of the corpora
ton.
| The following named stockholders
shall constitute the first board of di-
rectors of this corporation and its Of
ficers, and shall continue in office
until their successors are elected and
qualified at the annual meeting, here
lnbefore provided for on the first
Monday in January, 1917, viz:
A. I. Jones, President.
E. H. Boiling, Vice~President.
John 7. Hood, Secretary and Treas
urer.
John W. Carradine, Manager of
Field Operations.
R0ord of D;roo4oao III - IN
Il. Boiling, John T. Hood, John w.
Carradine and Daniel w. Doescher.
Article VII.
This corporation shall have au-
thorlty to adopt Seal, and, under
Its name and style above designed,
shall have and enjoy corporate sue
cesslon for term of ninety-nine
years from the date hereof. And if
before the expiration OF the said
time, it should be determined by a
majority of the stockholders, at a
regular or special meeting convened,
to dissolve this corporation, thew shall
select commissioner from their own
number at the meeting at which the
resolution for the dissolution of the
corporation shall have been adopted.
which commissioner shall liouidate its
affairs by disposing of its property
and paying first of all the debts and
liabilities of the company; second. by
paying unpaid dividends; and he shall
distribute the balance, if any re-
mains, amongst the stockholders in
proportion to the amount of stock
owned by them. But no stakeholder
o. tins corporation shall ever be held
iaDie for any greater amount than
the unpaid balance on his capital
stock, and no informalities shall have
the effect Of rendering this charter
hull OF exnnsinr n,,,r Ns4e4l.l,.fls. :.