The herald. [volume] (New Orleans, La.) 1905-1953, 1916-04-27
r III E III E II AID

shall decide. All shares shall be full PAL,
and worcestershire. No stakeholder shall
have the right TO sell. or otherwise dispos,
of, his stock in this corporation without frs
offering same to this corporation, and to III,
| individual members OF this corporation, a
the book value thereof, and this corporation
IS authorized to purchase said stock at saiC
book value for the benefit of the othe,
stockholders of the corporation. Should IN,
| corporation decline to purchase said stock IN,
! shareholder shall have the right of optior
TO offer SAID stock Tor sale to any other per
| son or persons, firms or corporations.
| Article N.-All the corporate powers Of
! this corporation shall be vested in and the
! management and control Of its business aud
| AFFAIRS conducted by board OF directors
composed of three stockholders, two Of whom
snail constitute quorum; no member Of
sand board to own or subscribe for less than
pre share Of stock. Said directors shall be
, elected by ballot At general meeting Of the
stockholders 10 be held on the 10th dav Of
May, 1915, and annually thereafter on that
day. Every stcokholdcr shall be entitled
IN person or by proxy, TO one vote for every
shall be held under such rules and rcgtlls-
tons as may be determined by said board rf
directors. Ten days written notice, direct
ed 20 the last known address Of every stock.
holder snail be given OF all elections
The directors thus elected shall continue j,
oihce until the 10Th day of May, 1917, or until
their successors shall have been elected and
gulllhcd; any failure To elect officers or di-
ture Of ih3S charter. Any vacancy occurring
IN the board Of directors shall be tlled bv
the remaining directors for the uucxpircd
term. \ majority 81 the stockholders al a
meeting snail constitute quorum for the
Transaction oi any business
sand board Of directors shall, at its first
meeting alter IFS election, elect out OF Us
own members a president, vIcc-prcsidcnt and
secretary -trcaSurer; and said board shall have
the power IN its discretion to unite two or
more uiUccr~, the same To confer upon one
person. said board shall have the power 10
appoint and dismiss such officers agents
clerks and employees as they NAV deem ad.
ElSablc, and 10 tx their compensation
Sdld board OF directors is especially vested
with the power and authority to mortgage or
pledge the property, real, personal and mixed
u the corporation as they may deem fit and
proper; TO purchase, hold. own, mortgage
pledge, lease and dispose Of real estate i'm
proved and untmprOycd, city and county; 10
execute mortgages. issue notes bonds and
other evidences of debt. and to borrow and
lend money on same 10 and from individuals,
hfinS and corporations, at such times, for such
prices and upon such terms and conditions,
IS they may deem advisable.
SAID board Of directors shall make all the
rules, regulations and bylaws for the gov
eminent, control and management of the bus
mess and affairs Of the corporation, and alter
amend ana change the same At pleasure.
Article Vino stakeholder shall ever be
held liable or rcspoSiblc for the contracts or
faults OF SAID corporation in any further sum
-. "''f', "H,,"''NN n"S o" '4Ie SHARES
oi STOCK owned by nm, nor shall any mere
'Eiorm%Nty IN organization have the effect
o' t .l,fIiS ms charter null or exposing
.f,,,,,1,, ~ ~ ,,SI i-l',.'s oGyonu tne
iormality or irregularity in organization ever
nave the effect OF rendering any stakeholder
h"Die as partner
Article Widths act of Incorporation shall
be changed, modified or altered or this cor.
poration shall be dissolved, with the assent
OF tws-thirds OF the stock Of the corporation.
present or represented at general meeting
called for that purpose after prior notice in
writing TO each stockholder, or mailed to him
cordanec with Sr prs of Act 5f9 IN ,a,s ac
Al the ex,,;-,,;,r % ~ - -.
earlier d;ssoIi,tio, 81 ~ rl- 80 81 "I '.ie
cause. It's affairs shall he GdTiJ.toJ i L, a,s
mr. me- I;c,,;J,,a-s >, 'tJ,ua.Sp 10y oiIe
stockholders, all of whom shall hold stock in
sara company, ana the SAID commissioners are