Abbeville progress. (Abbeville, Vermilion Parish, La.) 1913-1944, 1917-08-04

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Directors until the full number OF iii
teen IS named. Each director must hold
one share Of said corporation continu-
ously during the incumbcncy Of his
office. Said directors to be elected at
a 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 iii 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 AbbevIllc, 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
Oh the date specified shall not cause or
operate Il dissolution Of this corpora
ton, but the Directors shall hold over
until their SUCCESSORS are elected and
installed. Vacancies occurring on the
board from any cause whatever shall
be filled by the remaining directors
from among the stock holders qualified
TO serve as directors Three directors
shall constitute a quorum to transact
tiun. Meetings of stockholders not
herein provided for shall be called i'll
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
a president, ice-presiient, treasurer,
and from its members or its stockhold-
crs Of this corporation, secretary. The
| following named persons shall cohsti-
tute the first Board Of Directors end
they are vested with all the rights,
bowers and duties herein specified and
shall continue in Office until their sue
ccssor5 shall have been elected AID in
stalled rs hereinbelore provided, to
wit: $. =. Watts, II. \. Eldrcdge,
George NJ. Eldredge, Or. r. y. Mayer,
Ct whom DR.. II. a. EldreGgs shall bc
| -ccs ident; Or. r. "A. Mayo:, first vice
president, and George NJ. Eldrcige,
| second vice-presidcnt; ;. i. Watts,
secretary and treasurer. TLe Board #
| Directors may appoint such managers,
agents, employees, and sub-of1iCeIs, as
they may deem necessary for the prop
err management and carrying out ofthe
business of this corporation, AMI 10
likewise fix compensation of such
managers, agents. EMPLOYEES. and sub
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 ali
things incident to the objects and pur-
! poses Of this corporation.
ARTICLE VI.
This act of incorporation may be
changed, modified, or altered with the
assent of threc-fourths of the stock
represented at general meeting con
vened 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 the Town Of Abbevillc,
/ La. Such changes, however, shall be
/ desired in reference to the capital
stock, shall be made in the manner pro
vided in the statue of this State rela
tive to such action.
ARTICLE VII.
No stakeholder shall ever be held
liable OF responsible for the contract
" fault of such corporation, in any
/ further sum that the unpaid balance
due to the Company on the shares
| owned by him; nor shall any mere in
/ formality in organization have the eff
/ 'ect Of rendering this charter null or
exposing a stakeholder to any liability
/ 5evond the amount of his stock.
ARTICLE VIII.
At the expiration of this Charter, or
/ If sooner dissolved, the affairs of this
corporation shall be Gquidated BY
three liquidators elected by a majority
Of the stock, present or represented, at
meeting Of the stockholders determln-
/ ing to dissolve or present At the last
meeting which shall be held prior to
the expiration of the charter. Such
/ liouidators are hereby vested with full
power to sell any and all assets and
/ property, both real and personal, OF
/ the corporation and give and grant full
and complete title thereto, and shall
have full power and authority to do