The herald., 1917-02-22

to make and establish. as we'll as alter and
amend from time to time, such bylaws rules
and regulations for the proper government
of the affairs OF said corporation as may be
necessary and proper.
Article 1.-THE domicile of this corpora
ton shall be in the city OF New Orleans.
State of louisiana, and all citations or other
legal process shall be served upon the pres
ident of said corporation or, in the event OF
his absence, upon the vice president there
of, and, in the absence of both of said Off
GERS, upon the secretary thereof.
Article III.-The objects and purposes for
Which this corporation is organized and the
nature OF the business to be carried on by
it hereby declared TO be the buying
and selling Of all kinds of lumber, timber
and logs. both for domestic and foreign con-
sumption; TO carry on the business Of an
exporter Of lumber and for this purpose TO
own and charter vessels and to do steam
ship business and generally TO do and
transact all such business AZ may be Incl
dental to or connected with the business
contemplated in this charter.
Article IV.-The capital stock of this cor
Poration is hereby hxed at the sum of twenty
thousand Apllars Ns2OOOGO, divided into
and represented by two hundred shares OF
stock, Of the par value of hundred dol
lars $4,000 each. Said stock shall he paid
for, in cash. at such time, in such amounts
and after such notice to the subscribers as
may be fixed by the board Of directors, or
the same may be issued at not less than par
FOR labor done or property actually received
by the corporation.
This corporation shall become a going con-
Germ and be authorized TO do business when
ten thousand dollars (Sl0,0OOOO of its cap
ital stock shall have been subscribed and
paid for.
The amount to which the capital stock
may be increased shall be the sun. of fifty
thousand dollars.
Article V-All the corporate powers of
said corporation shall be vested in and ex-
ercised by a board of directors, composed OF
three stockholders, a majority of whom shall
constitute a quorum. Said directors shall be
elected annually on the second Tuesday in
February IN each year, except the FIRST board
appointed in this charter, who shall hold
their offices until the second Tuesday in
February, 1918.
All such elections shall be held BY ballo;
and conducted at the office of the said cor
poration, under the supervision of three com
| missioners 10 be appointed by the board OF
directors.
| Notice Of such election shall be given by
the secretary OF the company by written no
| tee thereof delivered personally or by de
posting same IN the post office, properly ad
| dressed. to each stakeholder at least ifteer
| tlo) days preceding such elections.
| AT all such elections and al all corporate
meetings every stakeholder shall be entitled
| 20 one vote for each share of stock STANDING
| IN his name on the books of the corporation
| 70 be cast in person or by his written proxy
and majority Of the votes cast shall elect
| Any vacancy occurring among the direc
| tors by death, resignation or otherwise shall
De niled by election tor the remainder OF tn
| term by the remaining directors.
| failure to elect directors on the dat
above specified shall not dissolve the cor
poration nor impair its corporate management
but the directors then in office shall remain
in office until their successors are electe,
and qualified.
The board of directors shall elect from
| their own number a president and a vice
president. They shall also elect a secretar,
and treasurer, or one person who shall b
both. either Of whom may or may not b
members Of the board. They shall hav
power and authority, from time to time, /
name and appoint all such officers. agents 0
other employees as may be deemed necessar
for the purpose and business Of the corpora
ton. They shall have power to FIX tn
compensation and define the duties of ever
officer and employee, and all officers an
employees shall hold Office and employment
at the pleasure of the board.
The board may make and establish, a
well as tier and amend. any and all bylaws
rules and regulations necessary and prope
| in its judgment for the conduct support an,
management of the business and affairs 0
| said corporation. At all meetings Of tn
| board Of directors each director shall hav
the RICH, to appoint proxy to act in hi
place and stead.