The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1917-10-27

Board shall have power. without referring
to the stockholders, to borrow money. ex-
ecute mortgages, issue notes, pledges,
bonds. or other obligations, in such
amounts and under such terms as in their
Judgment may be advantageous; and gen.
orally to do all things reasonably neces
sary or convenient for the proper carrying
out OF the business Of the corporation; and
they are specially authorized to issue and
deliver full shares OF stocks and bonds or
other obligations Of the Company in pay
ment OF pr 'perty acquired by said corpo.
ration, and specially for the b,i,in $ now
operated by ". h. Smardon co Inc. IN
Morgan City. La, at such valuation as IN
their judgment may be proper.
A majority OF the Directors shall con.
stitute quorum for the transaction IT
business. At any meeting of the Board
of Directors. any Director absent from the
meeting may be represented by any other
Director. who may cast the vote of the
absent Director according to written in
structions, either general or special, of
said absent Director.
Until the annual meeting of 1918. the
Board Of Directors shall consist Of the fol.
lewing:
Names: Pcstoifice address,
Yrs: L 4. Smardon, franklin. "a.
hrs Olive Wrightsman Colt, "
VI the foregoing, ". K. Smardon shall
be president. Mrs. l.. h. SmsrdOn. Vice
President. Mrs. Olive Wrightsman Golt
Secretary. Treasurer.
ARTICLE VI
This act of incorporation may be
changed. modified or amended, or this
corporation ma. be dissolved IN the man,
ner provided by law. by vote OF two
thirds OF the entire outstanding capital
Rtnpk nraRQnf I'D ut
raj meetin9pf the stockholders nvensd
for such purpose, after previous notice
shall have BEEN given in the manner above
required to be given OF the Annual meeting
OF the corporation. The capital stock vi
the corporation may be increased or de-
creased by proceedingsl accordance allh
the laws OF the state OF Louisiana.
ARTICLE vi,
II this corporation shall be dissolved.
either by limitation or from any other
cause, its al asrs shall be iiquidsted b, two
LII commissioners to be appointed n, a
meeting Of stockholders convened for the
purpose of liquidation, aud 10 be elected
by vote of all the Stockholders SAID
liQutdatOrs shall remain III ot6cc until the
affairs OF the said Corporation shall have
been fully settled aud ilquii.atet, and
they shall have full power AID autbo NV
to transfer and give title To all The proper
ty and assets OF the coippra,lon, and 10
the proceeds. In case VI deaih b.
disability or reslgGatiOn Of one or more
l!quidators, the vacancy shall be niled By
The survivor or Survivors
ARTICLE viii
No stockhoIdsr SHAH ever DO held liable
Or responsible for the contract. or iault
VI the cOrpOrattbni In any iurtnor su b ca
~ amount Equal To The unpaid balance on |
The shares VI stock owed by hun, nor |
shall an, informally IN ciysbIEltlnn nave |
he effect OF reDd-rlng tnis cnarter uli. or |
exposing any stockho,der ~ any Ilabiiity |
otuer tban as above provided.
Aud, in order that this charter NAV
serve as the original subscription list the |
subscribers hereto have indlcai.d oppo>lte
heir respective signatures and po>,ofH e.
ADDRESS The number Of shares OF stock
for by each VI them.
Thus tone and PASSED at nv Office this
lay. month and year first above written
u The presence Of Otne }. Heuert aud
feOrgs >. E.iis, competent witnesses. who
ave hereuntO subscribed their names
ogether with me. Notary and said ap,
earers, after due reading OF the whole.
n. Smardon 10. lLc.. by ". Il.
President, Franklin, La, Forty
light -hares.
n. Il. smsrdou, Franklin. La, Four
hsres.
L. X. Snardou. Franklin, La, -Four
Olive wr.ghssnsn 0ott. Franklin, La.
ne Share.
Chas. Colt, franklin. Ia. Three shares,
Witnesses.
ilig ]. HIlBar, /,
!. l.. ExI.La.
CHARLES l.. WISE.
NotarS Public.
Dad tho Rann>v