The Morgan City daily review. (Morgan City, La.) 1916-1920, 1917-11-14

purposes, or to loan money on prop.
erty, or to borrow money on its
lands or real estate, tenements, OF
other property, to mortgage and hy-
pothecate the same, and to issue
bonds, notes, or other evidences of
Indebtedness; and, generally. to have
such powers and to do and perform
all such other and further acts
whether directly enumerated above
or not, and as may be permitted by
law, to be embraced within the pur-
view of one corporation holding the
powers set out above, as well as to
do, have and perform all acts nee
essary or Incidental to the enumer-
ated powers.
ARTICLE III.
This company shall have power in
its corporate name to contract, sue
and be sued; to make and use cor
porate seal and the same to break or
alter at pleasure; to acquire proper
ty of all kinds by any means whatso-
ever; or to hire or lease the same,
to hold, use, sell or otherwise dis
pose of same, as it may elect, as
well as to mortgage, pledge or n.y.
pothecate the same, subject only to
such limitations as may be prescrib-
ed by law; and, in general, TO do.
have power to or perform, any and
all acts of whatsoever kind, inciden-
tai or usual to a corporation.
In all matters not specifically pro-
vided for herein, this corporation
shall be deemed to have, possess,
and exercise any and all other and
further powers as may be given it by
said Act 267 of 1914, or other laws
of this State.
ARTICLE ".
The entire and full corporate
power of this Company shall be
vested in the Board of Directors,
consisting of not less than three.
nor more than twelve stockholders,
the number to be determined at the
annual stockholders meeting. Said
Board of Directors shall elect a
President, Vice-President, and Sec
retary-Treasurer from among their
number, together with such mana
gers and subordinate officials as in
their Judgment may be necessary
all of said officers and agents to
have such powers as said Board may
delegate to them by general by
laws or special resolutions and to
hold their office at the pleasure OF
the Board of Directors.
Directors may for a single meet.
ing grant their proxy to any stock.
holder or other director. Vacan.
cies in the board shall be filled by
the remaining members.
Until the first stockholders meet
ing in 1913, the Board of Directors
of the Company shall consist of:
Albert F. Storm
Eugene A. Pharr
Lewis J. Bass
Maurice E. Norman
James F. Prohaska
A. w. Pettigrew
Warren B. Reed
Herbert M. Gotten
C. E. King
Sol Loeb,
which Board shall meet immediate
ly after the adoption of this act Of
incorporation, at the donaicile of tn
Company, and elect the officers TO,
the remainder of the business year
and fill any vacancies among tn
number.
ARTICLE v.
The annual stockholders meetin,
shall be held on the first Monda!
after the first Tuesday of Januar.
of each year after due and legal no
tice, at the domicile of said Com
pany, which meeting shall elect tn
Directors for the ensuing year, a
well as transact any other bushes
of said corporation coming befor
it.
| Each stakeholder shall be 'entitle;
to one vote for each full share O
capital stock held by him in person
or by proxy, provided, however, tina
each and every stakeholder shall al
so have the right at their option O.
cumulative voting in the election O.
said Directors.
Two Tellers shall be appointed b,
the Board Of Directors to hold sait
election.
ARTICLE vi.
The domicile of this company j
hereby fixed at Morgan City, Parish
of St. Mary, State of Louisiana
where all legal process shall b
served, as provided by law.
ARTICLE VII.
The capital stock of this company
shall be SEVENTY-FIFE THOU
SAND 100000 DOLLARS, di
vided into SEVEN HUNDRED
FIFTY (750) SHARES, of the pal
value of ONE HUNDRED $500.
OO) DOLLARS each, fully paid ant
worcestershire, all of said shares II
be Of equal rank, provided, however
that said capital stock may be in
creased as provided by law, not ex
ceeding TWO HUNDRED TOHUS