Tensas gazette., 1917-03-09
II a share of stock shall be made.

his stock IN this corporation, proNluihg
thirty days prior notice of such intention
to sell or transfer the same be given the
company, and the other stockholders
thereof shall have the first privilege OF
purchasing same, after which thirty days
notice the said stock may be sold IN open
market. =,
Each share of stock shall entitle the
owner thereof, either in person or by
proxy, to cast one vote at all generai
meetings.
No stockholder of this corporation shall
ever lie held liable or responsible Tor the
contracts or faults thereof In any further
sum than the unpaid balance due the
Company on the shares oil stock SUD-
scribed for or owned 10y him, nor shall
any mere intormality in the organization
have the effect of rendering this charter
null, or of exposing stakeholder to any
stakeholder to any liability, beyond the
unpaid balance, if any, of his stock.
ARTICLE SEVEN.
The corporate powers of this corpora
ton shall be vested in and exercised by
a Board OF Directors composed OF three
stockholders, who shall be elected by a
majority vote of the stockholders OF this
corporation, said stock to be voted by
the owner thereof, or by some person by
him duly authorized in writing, and each
share of stock to be counted as one vote.
The Board of Directors shall be elected
at the regular annual meeting OF the
stockholders hereof, which said meeting
shall he held at the dOmicile OF this cor
pOratiOn on the third Monday in Febru-
airy, A. ID. 1918, and annually thereafter,
after the giving of ten days notice IN
writing mailed to each stockholders last
known address of the time and the place
Of the holding Of said meeting.
A failure to hold such election, or, IT
held, to elect Board of Directors shall
not dissolve this corporation, nor impair
its corporate management, but the Dl-
rectOrs then in office shall remain in Of
flee with powers unimpaired until ther
successors are elected and qualified.
Immediately after their own election,
the said Board of Diectors shall convene,
and shall elect, from their own members,
"A president, a vice president and secre-
tary treasurer Such officers and Board
Of Directors shall serve until their sue
cessors shall have been elected and shall
have qualified.
Special meetings of the stockholders
may be held at the request OF any three
stakeholder, after ten days notice in
writing, as above provided, stating the
object Of such meeting.
Any director who may he absent from
Highland, shall have the right to ap-
point any shareholder of the Company
to vote for him at any meeting of the
Board of Directors, and such proxy shall
have and exercise all the powers OF such
director appointing him.
Tie Board of Directors shall have full
power to ill vacancies in their number
caused by death, resignation or other
wise, from among the stockholders OF the
corporation.
ARTICLE EIGHT
All notes and evidence of Indebtedness
must be signed by the president, or vice
vice president, and cOuntersigned by the
secretary-treasurer, and this corporation
shall not be responsible for any debts
created by any of its officers, in excess OF
the sum OF Five Hundred Dollars, unless
same shall be authorized or approved by
a resolution of the Board of Directors.
ARTICLE NINE
Whenever this corporation is dissolved,
by limitation or otherwise, its affairs
shall be liquidated in accordance with
the manner laid down and provided by
Section 30 of said Act No. 267 OF the
General Assembly of this State, ap-
proved July 9th, 1914.
The capital stock of this corporation
may be increased in the manner and
form provided by the general laws OF
this State for the increase Of the capital
stock of such corporations. 1t may di-
minish in amount after complying with
the same requirements prescribed by the
general laws of this State.
The charter may be amended, other
wise than to increase or diminish the
capital stock, in accordance with the
manner laid down and provided by Sec
ton Six Co of said Act No. 267 of the
General Assembly of this State, approved
July 9th, 1914.
ARTICLE TEN
Until the first regular meeting of the
stockholders Of this corporation, the
Board of Directors shall consist of Har-
rison e. Miller of Highland, La, who
owns i'm his own right and unpledged
forty nine (49) shares of the capital stool;
of said corporation; Bolton Smith, Of
Memphis, Tenn, who owns in his OWL
right and unpledged forty mine (49) share:
OF the capital stock of said corporation
and Thos. NJ. Wade, Jr., who owns in
his own right and unpledged two (2)
shares of the capital stock of said corror'
atior, with Harrison G. Miller as Presi-
dent, Bolton Smith as Vice-Presiden'
and Thos. Nj. Wade, Jr., as Secretary
Treasurer, and they shall hold their re.
spectiye offices until their successors shall
been elected and shall have qualified.
Thus done and passed, at my office in
the Town of St. Joseph, Parish of Ten.
sas, State of Louisiana, on the day, month
and year herein first above written, il
the presence Of f. +. Newell and Josiah
p. Scott, competent witnesses, who here
unto sign their names with said appear
ers and me, said Notary, after due read
ing Of the whole.
HARRISON c. MILLER,
per pro Thos. NJ. Wade, Jr., Agent.
BOLTON SMITH,
per pro Thos. NJ. Wade, Jr., Agent.
THOS. NJ. WADE, JR.