Abbeville progress., 1916-03-18

Abbeville. Louisiana three times, the
| first notice to appear at least fifteen da,S
J preceding such election. All elections
| Shall be held at the Office of said Corpo
| ration at Abbevillc. La, under the su
pervision ofthrec stock holders appoint
ed for the purpose, 10y the Board OF ID
| reCtorS at its regular meeting proceed
| ing the date of such election. Failure
! TO hold the election on the date spcCi
| fed shall not cause or operate dlssolu-
ton of this corporation, but the Dlrec-
tors shall hold over until their success
sors are elected ard installed. Nacan-
Cies occurring OH the Board from any
cause whatever shall be filled by the re-
manning Directors from among the
Stockholders qualified to serve as Di-
rectors. Three Directors shall constl-
tute quorum to transact any and all
business of the Corporation. Meetings
of stockholders not herein provided for
| shall be called in tile manner and upon
such notice as may be provided i'll the
By LAWS of said Corporation. Each
| Board of Directors, at its first meeting,
shall elect from its members, a President
| Vice President and Treasurer and from
| its members or a stoCkhOlder of this
| Corporation, a Secretary.
The following named persons shall
constitute the first Board of Directors,
and they are vested with all the rights,
| powers and duties herein specified, and
! shall continue i'll office until their sue
cessors shall have been elected and
installed, as hereinabove provided, to-
wit:
J. +. Nettles, S. p Watts, H. H.
Shackelford, B. +. Jones and ID. l.. Nc
Pherson and o. a. Broussard, of whom
d. l.. Mcpherson shall be president, J.
| +. Nettles, First Vice President, II. H.
Shackelford, Second Vice President S.
2. Watts, Secretary and o. A. Brous-
sard, Treasurer.
The Board of Directors may appoint
such Managers, agents, EMPLOYEES and
sub-officers as they may deem necessary
for the proper management and carry
| ing out of the business of this corpora
ton, and shall likewise fix the COM
pensation OF such managers, agents, en-
ployees and sub-ofiicers; to establish all
such laws, rules and regulations which
may be deemed requisite for the support,
management and regulation of this cor
poration, to borrow and lend money, to
issue bills of exchange, notes, bonds,
drafts and other negotiable paper, exc
cute mortgates, and generally to do any
and all things incident to the objects
and purposes of this corporation.
ARTICLE VI.
This act of incorporation may be
changed, modified or altered with the
assent of three -tourths of the stock rep
resented at a general meeting convened
for that purpose, after thirty days pre-
vious notice of such meeting shall have
been given by advertisement in one OF
the weekly newspapers published in the
town of Abbeville, La. Such changes,
however, shall be desired i'll reference
to the capital stock, shall be made in
the manner provided by the Statutes OF
this State relative to such action.
ARTICLE VII.
No stockholder shall ever be held liza
BILE or responsible for the contracts or
faults of such corporation i'll any further
sum than the unpaid balance due to the
Company on the shares owned by him.
nor shall any mere informalIty in or
ganization have tile effect OF rendering
this Charter null or exposing d stock
holder to any liability beyond the amount
of his stock.
ARTICLE VIII.
At the expiration of this Charter. or il
sooner dissolved, the affairs of this Cor
poration shall be llquidased by three Ii
quidators, elected by majority OF the
stock, present or represented, at a meet
1r,f, of na ii
dissolve or present at the last meetine
that shall be held prior to the expira-
ton of the Charter. Such iiquidators
are hereby vested with full powers to
sell any and all assets and property.
both real and personal, OF the CORPORA
ton, and give and grant full and com
plete title thereto, and shall have fun
powers ond authority to do and Der
form all acts necessary, useful and pro- !
per to fully and completely wind IN
and liquidate its affairs and distribute !
its proceeds, II any, among the |
stock holders and i'll case of the death /
or disability of one or more of said Ii |
quidators the survivors or survivor shall
continue to act.
Thus done and passed at my office in
AbbevIlle, La, on the day, month ana
year first above written, in the presence
of Messrs. J. g. Leblanc and 7. T
Brooks both of NermilIon Parish Louis
lana, competent witnesses who have
signed these presents with said an
pearers and me, Notary, after due read /
ing OF the whole.
X. NETTLES
5. p. WATTS,
H. h. SHACKELFORD. /
Per ). Z. Watts.
B, +. JONES,
ID. l.. MCPHERSON,
o. A. BROUSSARD,
Witnesses.
!. G. LEBLANC.
J. I. BROOKS.
J. n. GREENE,
Notary Public