St. Landry clarion. (Opelousas, La.) 1890-1921, 1916-11-25

uOuSu Lu6 diAulG1tA0hg ~ 9A
and buildings a well as leases shall
he only to the extern that the same
are medicinal to o. necessary for the
operation and growth o. fthe business
of this corporation as d~elineated
above.
ARTICLE Nv.
This corporation may sue and be
sued in its corporate name, and Dy
and through it's President or in his
absence through its Manager, who
may appear and act in court pro-
ceedings for and on behalf of this
corporation without the necessity of
any further authority from the stock
holders or directors thereof; and
through it's Board Of Directors this
corporation may sell, mortgage, hypo-
thecate, pledge, lease and suitcase
real estate and personal property,
though this grant of authority shall
in no way curtail or interfere with
the authority of the managing officers
to carry on the ordinary business OF
| the corporation and TO maxi con-
tracts respecting the purchase or
sale of merchandise ard the manner
of payment therefor, to borrow
money in fu1thcrance Of the objects
and purposes of this corporation and
to make contracts of mortgage and
pledge to secure the same; to make
use OF a corporate seal and the name
to break and alter at pleasure: to
name and appoint such managers,
directors, officer agents and clerks
as the interest or convenience of
said corporation may require.
ARTICLE v.
The Capital Stock of this corpora
ton is hereby fixed at Ten Thousand
Dollars, ($10,O00.00), represented by
one hundred shares, (100), of a par
value of One Hundred Dollars, ($100.-
00), leach, and it shall be divided in
to preferred and common stock, OF
which there shall be Seventy-ive
Hundred Dollars, ($7, 100000, common
stock and Twenty-Five Hundred Dol
lars, ($2,5O0.00), preferred stock
The preferred stock shall entitle the
holder to cumulative semi-annual
dividends at the rate of eight per
centum per annum, and no more, the
same to be paid or set apart before
any dividends shall be paid or set
apart for the common stock; and in
case of liquidation, the proceeds of
liquidation shall be first applied to
the payment of the holders OF the
preferred stock Of the s,s,n of One
Hundred Dollars per share and any
or unpaid iisi1ends thereon,
and the balance remaining thereafter
shall be divided among the holders of
common stock in proportion to their
holdings. The first dividend on the
preferred stock shall be payable July /
1917, on shares then outstanding. All
any of the preferred stock shall
be subject to redemption by the
Board of Directors at par, and also
in addition thereto any unpaid ac-
dividends past due there
on, though such redemption shall not
take place except at one of the Pc
RODS fixed herein for the payment of
accumulated dividends. The pre-
ferred stock shall have no voting pow
er, nor shall the possession of any of
it alone entitle the holder to serve as
a member of tho Board of Directors,
or as aliquidator
This cornoratior shall commeuce
hus;ness &c soon aa Fiftv sharas or
rive Tbo,1aand Dollars az the com.
mon stock has haan s,,bscribad and
Maid for
The nroforred s+ooL shall no DO
s;notad ond ba,d as +raoe,,ru r+ocL
+ ha sold a. s,,cb timas ana II sucb
. mo,,nts 90 tba Raarl af niraetors
determine lint onlv for casb and Of
nor
pn ,ota ~ +-uo.+hirds ~ +ha
s+ockbo1ders tho oantisI stooL of tb;s
nov ba ;ncraosaa - or
ma,,n+ +.tayooa5ino E;ftv Tho,,e.
md noI,ars fs5o am eo1
ApTIcT Ut
Tba h,s;na.r .f.;rs +b;s oor
,ora+;on shaI1 10 tr.,sao+ad h., and
hrorah : hoar5 ~ 4b,-ae di-aotora
~ sbau ~ staoLho,da~s ond -, hs
1850 - rnao+ira - ba ba1d TO-
Mt n,,rna-a ~ he rocond Mondsv or
mortbs ~ T n,srv of oacn 1s.ar
niraotor- +h,,s se;o.+aa shan
far ono uaor ~ ,nti1 tbeir enc.
shall hove heen dulv elected !
nd analifed The Rsard of Dlect-
,rs shah elect from their number a /,
), esident a y~ice-President. and a !
oorotarv.Traa s,,rer and Manager.
honpb the Manager NAV also he any
+ the other Ulcers. and a majority
f the board shall have the power to
N any vacancy occurring in that :
,ody or anon the officers, and to +.
s1,ch hy-laws rules and regula- /.