The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1917-04-07

To,a, 400 g 81, 900 80
Treasury stock.
The remaining Two Hundred l:"p
ST. res, belonging to tn, corporation. be
ing designated treasury stock. 20 he Is
sued from time to time by me board OF
Directors 10 >uch per-nns an In +uch
amounts a, il may deem most adv'n'a
genus to the corporation; to u" paih 10! III
cash or other valuable consideration
when issued. never l--s than Its actual
value. as shown bv the books of the cor
ppra,jon, al the lat" OF Issuance. anu ut
10 time less than il- par value or fl1ty
Dollars li30. D0i per share.
Transfer OF stock,
Ifapy stock snail be sold ov its Owpe-.
10 any Que else. or presented to the OF
ficer- of the COZ pOra,lOn for transfer, 1t
,n., II first be rendered by the holder there
Of to The Board of Directors OF the corpo-
rati n. 40 shall have authority to pur'
chase anne at its book or market value at
that date to be considered rs Treasury
stack and to be sold BY the Board OF III
rectors In the same manner AS hereln-
above provided for Treasury Stock; pro.
yided that il said Board of Directors fail
within a period OF one week, a1fer saiu
tender has been made. to avail itself OF Its
option to purchase. then the owner there
Of shall be- at full liberty to sell same
other than to the Board Of Directors, or
to have same transferred to such pei sons
as he may designate.
NJ stock shall be transferred except on
the books Of the corporation, and tue per
son to whom the shares are SO transferred
shall receipt for same.
On the death Of any stockhOiutr his le.
gal repres- NATIVE shall be entitled I" as
sumo control Of and transfer said stock to
his name.
Stockholders Meetings.
Stockh. ,lders' meetings for the election
Of directors shalt he held annually as pro-
y,led ia the charter, at the uomlcile of
the corporation and notice thereof must
Lc delivered personally, or by dep"sllny
in the Post Office properly addressed to
each stock holder. al least fifteen days be-
fore such meeting. At least TWO days be-
fore said meeting complete !,st OF stock
holders. pntid.1 to vote. shall b" opened
to INSPECTION BY the stockholders at the
place OF said meeting Other stockholders
meetings may be held when ordered by
the Board OF directors or the holders o.
twenty-hv~sper cent of thu outstanding
stock. NnL,re o. all st"cknOidets' meet
/ x other titan adjourned meetings shall
be given il the manher prescribed tor
Stockholders meeting for the election OF
directors, unless such notice l. waived by
unanlaa o,.s consent. provided that no no.
ttCO 10 IcNubFh " uO1S SuS-A AANSsAn3 40 e~~A
burned to Il given date.
At all meetings OF stockholders, each
stockhOide, shall be eusltted to one vote.
to be cast in person or by proxy. upon all
Questions of amending the act of incOrpo-
ration; Increasing or dect easing the CAPT
tai stock, or dlssolvIng the corporation
upon all other Questions presenting them
selves ut an. stockholders meeting, each
81 nck holder shall tie entitled to one vote
for /. ach share Of stock held by him, to b.
cast in person or bv proxy up to the
amount II ten votes and no more. regard
less of the number of shares by him owned
IN excess OF ten shares.
ARTICLE
Board Of Directors.
All the powers Of said corporation shall
be vested in and exercised by a BOARD vi
Director, to be cum:,n>e,1 OF not les than
til rec Nor more than fifteen stockholders.
to be elected annually on the first Monday
in July of each year, except the hrst
BOARD a ppi, ted IN this Charter. who shall
b Id tn. il Office until the first Monday IN
july. 1918. The stockholders before pro-
c-eding TO elect u Board of Directors at
each annual meeting. shall fix Tue humber
thereof wi hlt the limits above prescribed
q majority of whom shall Constitute quo
rum. All sncb elections shall be held by
ba.tu and c"i duc'ed ut II Office of said
corporxt,n unde' the sup rvl.lon If three
commits sioner>. to be appointed by The
Board OF directors.
nv vacancy occurring among the vi
rectors hy death. resignation Vr Otherwise
shall b, I.,ed ny eieciion i"' thu re",ain
der Of the tes,n bv the remaining i'i,. e.
tors. The failure to elect directors upon
thA date above pecified shalt not dissolve
the cOru"ratiOu nor ,UpaI" Its corporate
| o,aaag-men, hut the directors then i"
Daice saAit retnXin il office until their sue
&c scr. arc rircied aud qualified. The
Rcar,i Ut Dir.c or> she'll exec, from thei,
number 2 nre>iGent = VWet'resideut, Il
secretary ana Treasurer (tbe office ct Sec
| Rotary and Treasurer eau he held hy ONT
and The same person.. The sad BOARD
may trU,n time 10 time name ana appoint
all such ., her officers aud agents as they
may @eem ,.eressary fOI the purpose anu
1 business Of the corporation. They shall
have the power to fix and define the
| powers and duii 3 OF all other officers and
| employees and fix the salaries IT same
aud all officers AOd employees shall hole
| office and employment at the pleas re O
| the Board. he Board may make an
establish. AS well as alter and amend any
| and all bvlswS. rule, and regulations
| necessary ana proper in its judgment fol
| the conduct, support End management 81
| the business and affairs of SAID corpora
ton. the Board shall have full powe
aud authority 10 borrow or loan money. Il
| execu.e or receive mortgages ard liens
to issue bonds, notes and other Ub.lga
tions, to create ser, itudes and gene II,
to do all thing, Reasonable, cohrenier
| and necessary for the proper carrying OF
OF the business of the corporation. Ever!
director in case OF his absence from thu
Parish Of st. Mary or the State of Louis
lana. shall have the power and authority
| tn appoint in writing stockhoder or any
member OF the tioard Of Directors. A. hi
proxy to sit IN his II. Il aud stead at al
meetings OF tue Board Of directors. and Il
! repres ut him at such meetings as fully u,
though be himseH were present. euct