The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1917-10-20

|
| same within Ten f10) days hereinafter at
the valuations determined by the Board !;
| and in case OF dissatisfaction As to the
price the matter shall be arbltrated. one
arbitrator With the powers Of amlc3hle
eompouninrs to he appointed by each side
, and an umpire to be selected by those two,
who shall take oath and whose decision
| shall be final. And all shares of Stock
| when pur based may be rei>sued At not
| les than par Va I've.
tct This corporation shall be operative
| and 70 into business and become ii going
concern when SIX Thousand lN"2o. th''
| Dollars of lis capital stock shall have been
subscribed and pail for.
ARTICLE V.
All powers of this corpot alton shall be
vested in and exercised by 4 Board OF
three 80 Directors. No person shall be
| eligible as Director unless he owns in
| hi, own name One u share full paid, of
| the capital stock. The Board shall elect
| from their number a President, Vice
| President. and Secretary Treasurer, and
| shall fix the salaries of all officers. agents
| and emp,oyes. The Board of Directors
shall be elected annu lily. on the first
Monday in January of each year, the first
election 20 he hell in the year Of 1918. All
such elections shall be 10y ballot at the
oitice of the corporation Notice OF an
nual meetings, "a we'll as of special meet
r.
written notice mailed fifteen tl3) days in
advance Of the date of such meetings. to
each stockho!ier appearing as such on the
books Of the Company. at his last deslg-
mated address, or at the general delivery
| AT Morgan City. La. ii he mas not de>lg-
| mattel an address. Each shareholder shall
be entitled to one vote for each share of
stock standing in his name on the books
Of the Company, said vote to be cast IN
person or 10y proxy, and majority OF
votes shall elect. The Board Of Directors
| shall have the power TO fill all vacancies
which may occur or IN any manner arise,
to be created on the Board OF Directors.
even though ne quorum remain at the
time such vacancies are to be filled. Fall
IRE to elect Directors on the date above
specified shall not dissolve the corpora
ton, but the Directors then in office shall
remain in Office unit. their successors are
elected.
The BOARD of Directors shall have power
to make and establish. rs well as alter and
amend, all bylaws. rules and regulations
necessary AMI proper for the support ana
management OF the affairs and business of
the corporation and not Inconsistent with
its charter.
The Board of Directors shall have the
power, by a vote of not less than two
third, of all Directors. to sell all or any
part Of the property. movable or imiaov-
abe, belonging to the corporation. or TO
receive IN exchange therefor money or
stocks or bonds, or other Obligations OF
anotht individual. ii LII or corporation III
any character. without referring to the
shareholders for powers to do 50. he
Board shall have power. without referring
to the stockholders. to borrow money, ex-
ecute mortgages, issue notes, pledges.
bonds. or other obligations, III such
amounts and under such terms as IN their
Judgment may be advantageous: and gem
orally TO do all things reasonably neces-
sary or convenient for he proper carrying
out Of the business Of the corporations; aud
they are specially authorized to issue and
deliver full shares Of stocks and bonds or
other obligations Of the Company In pay
ment OF pr ,perty acquired by said cofpo-
ration, and specially Tor the bushes, now
operated by ". X. Smarton Co.. Inc. III
Morgan City. La, at such valuation as IN
their judgment may be proper
A majority OF the Directors shall con-
stitute "A quorum for The transaction ~
business. AT any meeting OF The Board
of Directors. any Director absent from the
meeting may be represented by any other
Director, 40 may cast the vote OF the
absent Director according TO written In
struciiOns, either general OF special, OI
said absent Director.
Unit The annual meeting Of 1918, the
board OF Directors shall consist Of the fol->
lewlpg;
Names: Pcstoltice Address
Mrs. l., X. >mardon, Franklin, La.
W. X. >mardon, -
ars Olive ~r'ghtsman Colt, . .
VI the foregoing, ". e. Smardon shall
ne |. resident. nrs. l.. *. omarJon. Vice
President. Mrs. Olive Wrightsman Cot,
Secretary Treasurer.
ARTICLE VI
This act of incorpo. alton may be
changed. modified or amended, OF this |
corporation NAV be dissolved in the nm
ner provi led by law, by vote OF two
thirds OF the entire outstanding capital
stock present OF represented. At geue- |
raj meeting OF the stockholders convened |
for such purpose, after prevl Us notice !
required TO be given OF the a Inutl meeting |
OF the corporation. The capital stock OF |
me corporation may be Increased or de- !
creased by proceeding, III accord ,nce WITH |
the laws Of The state ol Louisiana.
ARTICLE WI
II this corporation shall De dissolved. |
either by limitation or from any other |
cause, its aft is. III al De iQuiuated by two |
I'll cOmml,>iuuers to be appointed at u |
meetltg Of st LEX holders convened for the |
purpose % liquidation, and 10 be elected |
BY vote Oh all the stockholders. sand |
Ilqul 1atOrs shall remain Iii Otice until the
affair. Of the said corporation snail have
ueen fully settled and llquldated, anu
they shan have full power aud authority
10 trau>fer and give title u all the proper
tv ana assets OF the corporation. anu to
distribute tue pf"ceeds In case III death
disability or resi1natlon of one or Dnore
IQuidatOr,, the Vacancy shall be filled by |
The survivor u Survivors
ARTICLE VIII
No stock holder eh all ever be held liable |
OF responsible for tho contracts or fault,
Vt the poration Ia any further 50 II tn IN
an am Junt .Quat to the unpaid balance on
the shares Of STOCK owned by hiM. Gur
snail an, ntormaiity In olgAni1 ,tiou nave
The effect OF rend .rIIg Inis cnarter uuIi or
Using any stockhoider to any liability