Abbeville progress. (Abbeville, Vermilion Parish, La.) 1913-1944, 1917-06-30
objects and purposes.
ARTICLE ".

ton is hereby fixed at the sum of Fifty
Thousand Dollars, represented by five
thousand shares of the par value of
Ten Dollars each, which capital stock
may be increased or decreased in the
manner provided by the laws of the
State Of Louisiana. This corporation
shall be a going concern as soon as
Twenty-Five Thousand Dollars Of the
capital stock is subscribed, and fifty
per cent of the subscribed stock paid
in. This stock shall be paid for in
cash or its equivalent in personal or
real property received, services render
ed, or labor performed, in such manner
and on such terms as may be fixed by
the Board Of Directors; but no Certih
cate shall be issued for said stock
until the same has been paid for. At
all elections, each share shall be en-
! titled to one vote, to be voted either
by the holder or his proxy.
No shares of the capital stock of the
Corporation shall be transferred except
upon the books of the Corporation, nor
until the Certificate of stock shall have
been delivered to the Corporation and
duly cancelled. AL Certificates of stock
shall bear the seal of the Corporation,
and be signed by the President and
| Secretary.
ARTICLE V.
All the powers of said Corporation
| shall be vested in and exercised by the
Board of Directors composed of not less
than four members nor more than if
teen members. The additional mem
bers of four to be added from time to
time at the discretion of the Board of
Directors until the full number of ff-
| teen is named. Each director must hold
one share of said corporation continu-
ously during the incumbeney of his
Office. Said directors to be elected at
d general meeting of the stock holders
on the first Wednesday of March, 1918,
and thereafter to be elected at such
meetings on the first Wednesday of
March of each year. Notice of such
election shall be published in a news
paper published at Abbeville, La, three
times, the first notice to apper at least
fifteen days preceding such election
All elections shall be held at the office
Of said Corporation, at Abbeville, La,
under the supervision of three stock
holders appointed for the purpose; by
the Board of Directors at its regular
meeting preceding the date Of such
election. Failure to hold the election
on the date specified shall not cause or
operate dissolution of this corpora
lion, but the Directors shall hold over
until their successors are elected and
installed. Vacancies occurring on the
board from any cause whatever shall
| De filled by the remaining directors
rom among the stock holders qualified
20 serve as directors. Three directors
shall constitute a quorum to transact
any and all business of the corpora
ZION. Meetings of stockholders not
herein provided for shall be called in
The manner and upon such notice as
may be provided in the bylaws of said
corporation.
Each Board of Directors at its first
meeting shall elect from its members
president, vice-president, treasurer,
and from its members or its stockhold-
ers of this corporation, secretary. The
following named persons shall cohsti-
tute the first Board of Directors end
| they are vested with all the rights,
powers and duties herein specified and
shall continue in Office until their sue
;essors shall have been elected acd in
stalled as hereinbefore provided, to-
Wit: s. =. Watts, H. \. Eldrcdge,
George NJ. Eldredge, Or. R. y. MAYER,
f whom DIR. II. A. EldreGgs shall be
prc'identj DR.. R. A. Mnye:, first vice.
president, and George N. Eldreige,
second yice-presidcnt; =. J.. Waits,
secretary and treasurer. Tic Board If
Directors may appoint such managers,
agents, employees, and sub-oficeIs, as
they may deem necessary for the prop.
er management and carrying out ofthe
business of this corporation, and TO
likewise fix compensation of such
managers, agents, employees, and SUBJ
officers; to establish all such laws, rules
and regulations, which may be deemed
requisite for the support, management
and regulation of this corporation, to
borrow and lend money, to issue bills
of exchange, notes, bonds, drafts, and
other negotiable papers, execute mort.
cages, and generally do any and all
things incident to the objects and pur.
poses Of this corporation.
ARTICLE vi.
This sst of incorporation bisy be
changed, modified, OF altered with the
assent of three fourths Of the stock
epresented at general meeting con-
Fened for that purpose, after thirty
days previous notice Of such meeting
shall have been given. by advertise
ment in one of the weekly newspapers
published In tho TnRn ~ Ahbsvilln