The herald., 1917-03-01
M0MFY tn IAN DIAMONDS
WVsS.' GOLD and SILVER
Remedial Loan Society
REMEDIAL RATES
A Remedy for the erorbitant
Interest Charged

thermore. to own and operate in connection
with said business, traul-roadS, logging roads,
sailing vessels, steam vessels and other wa
ter craft necessary for the transportation of
It's material and products and also do
Article IV.-The capital stock of this cor
poTatiOn is hereby fixed at the of fifty
thousand dollars (SS0,O00OO), divided into
i've hundred (50O) shares Of one hundred dol
lars $4,000 each, which said stock shall be
! paid for in cash or its equivalent in such
| manner and amounts as the board of dIrec-
| tors may determine may be issued at par
| in payment of property actually purchased
and such stock 50 issued shall be full paid
and worcestershire. All in conformity and
under the restrictions Of the presently exist
This corporation shall be authorized to CON-
| mence business and be going concern as
| soon as twenty-five thousand dollars CS25,-
10000 of its capital stock is subscribed for.
which amount is hereby declared TO be sub |
scribed. The shares of stock shall be trans
| ferable only on the books Of the corporation
and no transfer of stock shall be binding or
have any effect upon this corporation unless
and until made upon its books and a prior
lien all shares OF stock shall be retained
holder for any Indebtedness, secured I'M
secured, however evidenced or created, due al
any time to the company by the holder OF
said stock and all transfers OF stock shall
be made subject to these conditions.
The capital stock of this company may
be increased up TO amount of one hundred
and fifty thousand dollars (Sl50OoOOO by a
vote of three-fOurths ga of the outstanding
stock at a meeting of stockholders called for
| that purpose, in the same manner as provided
for the meeting to elect directors, until there
| days notice prior 10 said meeting, and said
capital stock may be reduced to an amount
| not less than twenty-five thousand dollars
$25,CooOO) in the same manner as above pro-
vided for the increase OF stock.
| Article N.-All the corporate powers of this
corporation shall be vested in and exercised
| by board of six (6 directors, who shall
| each be a stakeholder in this corporation,
| four "a of whom shall constitute quorum
for the transaction of all business and a
| majority vote at any meeting shall decide
| all questions voted upon.
| Said directors shall be elected annually
| from the stockholders, on the first Tuesday
| in January in each year, after due notice of
said meeting shall have been given to each
| stakeholder. sent by mail to his last known
| address at least fifteen OS) days prior to the
holding of said election. And all other
meetings OF stockholders, the stockholders
must be notified in the manner above de-
scribed at least ten Q0) days prior to the
holding of such meeting. All other stock
| holders meetings, other than TO elect direc-
of directors or the holders of twenty-five per
| cent (2596) of the outstanding stock. The
president shall call said meetings and upon
his inability or failure so to do, same will
be called by a vice president.
| At said election, and at all other meetings
| of the stockholders, the vote shall be by
ballot, and each share of stock outstanding
| shall be entitled TO one ID vote to be cast
| by the owner in person or by written proxy.
| The majority of stock voted at any stock
| holders meeting shall decide all questions
| voted upon except otherwise provided.
Within one "a week from their election
as above provided for, the board of directors
| shall elect from among their members pres
| ident and two ~ vice-presidents; they shall
| also elect a treasurer and a secretary. The
| last two named officers may may not be
members of the board Of directors and the
two Offices may be combined in one person
| as the board may determine.
All of the said officers and directors as
above provided for shall hold their respective
Offices for a period of one % year from the
| sors are duly elected; except the first board
herein provided for whose terms will expire
| on the first Tuesday of January, 1918, or I'M
til their successors have been duly elected,
but the failure to hold an annual election or
to elect the officers as above provided for
shall not result in the dissolution of this
corporation but the then board Of directors
and officers shall hold their respective othces
until their successors duly elected.
Any vacancies occurring on said board OF
directors shall be filled by the remaining
term. at meeting called for that purpose,
after ten days prior notice in writing sent
by mail to said directors at their last known
address, and if the said board fails to elect
| at said meeting, a second meeting may be
called for the purpose of electing said dlrec-
tors as above provided or the election may
be made by the stockholders at a special
meeting called for that purpose in the man.
ner herein provided for the election of d.
rectors and should second meeting of the
board be held and fail to elect, then the
board must have said election by the stock
holders as above provided for the election
Of directors.
The said board of directors shall have the
power to make all bylaws, rules and reg:
conduct of the affairs of this corporation
and to change, alter, amend, or abolish the
same at pleasure, and shall have and exer-
else all the powers conferred by law on this
corporation and as set forth in this charter.
, The said board of directors shall have the
! power to appoint any agents, managers, or
, employees who shall respectively have such
power and perform such duties at such place
} or places may be prescribed by the by
!, laws or by the board of directors and who
may be removed at the pleasure Of the
directors, and said board shall have author
ity to delegate any of the said powers vested
! in it, in the transaction of the business Of
this corporation to committees of their own
body or to the officers and agents of this
All employees of this corporation, except
those holding the Offices of president and
ice-president shall be considered as en-
ployed by the month unless otherwise con-
tracted with in writing.
The first board of directors of this corpo-
ration are hereby declared to be: Mr. Walter
Green, Of Laurel, Mississippi; MI Buckner
Chipley, of New Orleans, louisiana; Mr..
Wallace B. Rogers, of Laurel, Mississippi;
Mr.. Frank G. Wisner, of Laurel, Mississippi;
and Mr.. John A Taylor. of New Orleans, La,
with the said Mr.. Walter B. Chilean, as
PRESIDENT; the said Mr.. Charles Green and
the said Buckner Chpey as vice-presidents;
with the said Wallace B. Rogers as treasurer,
and John A. Taylor, of New Orleans, Lou
isiana, as secretary; who shall hold their re-
spective Offices until their successors are duly
elected as provided for.
Article VI.-This corporation may be dis
| solved by a vote of tWO-thirds of the oiit-
standing capital stock thereof at a general
meeting convened for that purpose in the
manner above provided for the calling of
the stockholders meetings to elect directors
and otherwise in conformity with the laws
of this state.
Whenever this corporation is dissolved,
either by limitation or otherwise, its affairs
shall be liquidated by three liquidators COM