The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1917-03-31

II. Luxe, ~ "UO.o'
Il. Dumesnll, ~ 1'Do.U'
ii. j. Guidry. . 20O.W
Walter simmonueaux. - 300. O(
Total 400 $40 900 .oC
Treasury Stock.
The remaining Two Hundred t2oo)
shares, belonging to the corporation. be
ing designated Treasury Stock. TO be Is
sued from time to time by the Board OF
Directors to such persons and in such
amounts AS it may deem most advanta
geous to the corporation; to be paid for In
cash or other valuable consideration.
when issued. never less than It's actual
value, as shown by the books OF the COR
pOration, at the date of Issuance. ana at
no time less than its par value OF Fifty
Dollars $50. O0l per share.
Transfer Of stock.
Ifany stock snail be sold by its owner.
to any one else, or presented TO the Of
ficers of the corporation for transfer. it
shall first be rendered bv the holder there
OF to the Board of Directors Of the corpo-
ration. whO shall have authority to pur-
chase same at its book or market value at
that date, to be considered as Treasury
Stock. and to be sold by the Board OF i'l-
rpctors in the same manner AS herein
above provided for Treasury Stock; pro-
within a period Of one week, after SAID
tender has been made, to avail itself of its
option to purchase, then the owner there
OF shall be at full lib srty to sell same
other than to the Board of Directors, or
to have same transferred to such persons
as he may designate.
No stock snail be transferred except on
the books of the corporation, and the per-
son to whom the shares are so transferred
shall receipt for same.
On the death of any stakeholder his le'
gal representative shall be entitled to as
sumo control Of and transfer said stock to
bis name.
Stockholders Meetings.
Stockholders meetings for the election
Of directors shall be held annually as pro-
vided in the charter, at the dOmicile of
the corporation. and notice thereof must
he delivered personally, or by depositlng
in the Post Office properly addressed to
each stakeholder, at least fifteen days be-
fore such meeting. At least two days be-
fore said meeting. complete list of stock.
holders, entitled to vote, shall be Openel
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 OF
Twenty-Five per cent OF the outstanding
stock. Notice OF all stockholders meet
ings other than adjourned meetings shall
be given in the manner prescribed for
stock holders meeting for the election OF
directors, unless such notice i waived by
unanimous consent, provided that no no
tice is required when such meeting is adj
journed to a given date.
At all meetings of stockholders, each
stakeholder shall be entitled to one vote,
to be cast in person or by proxy. upon all
questions Of amending the act OF lncorpo-
ration; increasing or decreasing the capt.
tai stock, or dissoving the corporations;
upon all other questions presenting them
selves ut any Stockholders meeting, each
tOckhOlder shall lie entitled 10 Que vote
for zach share of stock held by him, TO be
cast in person or by proxy up TO the
amount Of 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 corp oration shall
be vested in aud exercised by Board Ut
Directors to be composed of not les than
three nor more than fifteen stockholders,
TO be elected annually on the first Monday
in July of each year, except the first
BOARD appointed in this Charter, who shall
b I'D tn. il Office until the first Monday in
July, 1915. The stockholders before pro-
c.eding to elect Board of Directors at
thereof wi hlp the limits above prescribed.
u majority of whom shall cons itute quo
rum. All such elections shall be held by
La lot and corduc ed at tn" Office of said
corporation under the sup fvision of three
to be appointed by The
Board Of Directors.
my vacancy occurring among the Di
rectOrs by death. resignation or otherwise,
sh ali De filled by election for the renain- |
der Of the term by the remaining pirec-
tors. The failure to elect directors upon
the date above specified I'll not dissolve
the corporation nor impair its corporate
but the directors then in
office shall rema in office until their sue.
ce SsOrs are elected aud qualified. The
Board Of Direc ors shall elect from their
u number President. n Fiee-Pre>ident, u
secretary and Treasurer the Office Of See
rotary and Treas eau be held by one
aud the same personI. The said Board
may from time to time name AN appoint
all such other Officers aud agents as they
may 9eem necessary for the purpose and
business of the corporation. They shall
have the power to fix and define the
powers and duties Of all other officers and
employees and fix the salaries Of same,
ana all officers and employees shall hold
utfice xaQ employ ment at the pleasure Of
he Board. The Board may make and |
establish. as well as alter and amend any !
and all bylaws, rules aud regulations !
necessary and proper in its judgment for !
The conduct, support and management OF
The business and affairs Of said corpora
len. The Board shall have full power
and authority 10 borrow or loan money. to ,
execute or receive mortgages aud liens, !
% issue bonds, notes and other Obiiga-
ions, to create servitudes and generally
o do all things reasonable, convenient
ind necessary for the proper carrying on
II the business Of the corporation. Every
iireeior in case of his absence from the
'arish Of st. Mary or the State of Louis.
ana. shall have tie power and authority
. appoint in writinge stakeholder or any
mem Der OF the Board of DireGt0rs, as his
proxy to sit In his lieu and stead at all
meetings. Of the Board Of Directors, and to
tpr,sent him at .such meetings As fully as
hoagh be himself were present. Such