The Morgan City daily review. (Morgan City, La.) 1916-1920, 1918-02-05

privileges anu III
porations are and may hereafter be
authorized to possess under the Con,
st tuition and laws of this State, and
particularly under Act No. 267 OF
the Acts of the General Assembly of
the State of Louisiana for the year
1914. :!
ARTICLE IL.
The dcmicile OF this corporation
shall be at the City of Morgan City,
Parish of St. Mary, State ct Louis
lana.
ARTICLE III.
The objects and purposes for
which this corporation is formed and
The nat;Ie of the business to be car
ried or By it, are hereby declared to
be:
To buy and sell stocks. bonds,
mortgages. debentures, trust re-
CENTS, commercial paper, consols,
and government securities, either for
itself or agent of any person, tlrm
or corporation, but not to engage IN
the banking or ock-jobbing bust
ness: to act as the fiscal agent CT
any person, firm or corporation; to
buy. sell. let, lease. hire, own or de-
mise or generally deal and trade IN
real estate, with the power to I'M
prove or increase the value thereof;
to borrow money and grant mort
cages, bond mortgages or NOTES
therefor; to lend money and to re-
ceive therefor mortgage, bonds or
a,,y other evidence of indebtedness;
to carry on any other business which,
under the law, it may be entitled to
carry on which may seem to the cor
poration to be calculated, directly or
Indirectly, to effectuate the afore-
said objects or either of them, or to
facilitate it in the transaction OF It's
aforesaid business or businesses, or
any part thereof, or in the transac-
ton of any other lawful business
that may be calculated, directly or
indirectly, to enhance the value of
or to render profitable any of the
conlpany's properties and rights,
and generally to hold and exercise
all such incidental powers and prl-
v:ieges as relate to the objects and
purposes hereinabove set forth or as
NAV be necessary, useful or conven-
lent for effecting said objects and
purposes -
ARTICLE ".
The authorized capital stock OF
this corporation is hereby declared
to be the sum of TWO HUNDRED
AND FIFTY THOUSAND DOL
LARS (s25O,OOO.0O). The present
w authorized capital stock of this
corporation shall be represented by
Two Thousand, Five Hundred
(2.5OO) shares of the par value of
One Hundred Dollars (S1OO.OO)
each. The said capital stock shall
shall be personal property. 1t shall
be fully paid and non-assessabiG;
when issued. No transfer OF SAID
capital stock shall be binding upon
this corporation unless made in &C
cordance with its charter and by
=, laws and recorded on the books
thereof.
ARTICLE "
The business of this corporation
shall be managed by and all of the
corporate powers thereof shall be
vested in and exercised by a board
of not more than fifteen 13 and
not less than five (5) directors, to
be elected from among its stock
holders, and a majority of the direc-
tors, either present in person or
represented by proxy, shall consti..
tute a quorum. The said board of
directors shall have the right to
nominate and appoint such agents,
managers or sub-agents as IN their
Judgment they deem necessary in
! the management Of the corporation
of the conduct and carrying on OF
it's business
ARTICLE VI.
The first board Of directors of this
CORPORATION shall be composed Of:
| E. A. Pharr, whose post-office ad-
dress is Morgan City, Louisiana.
/ NJ. E. Norman, whose post-office
address is Morgan City. Louisiana.
B. O'Brien, whose post-offlce ad-
dress is Rhoda, Louisiana.
w. B. Reed. whose post-office adj
dress is Morgan City, Louisiana
and,
K. S. Foster, whose postoffice
address is Morgan City Louisiana
with E. A. Pharr as President, 3
O'Brien as Vice-President, and M. E.
Norman as Secretary Treasured. Said
board of directors shall serve until
the first meeting of stockholders fol-
the election of directors, or until
their successors are elected and
qualified.
ARTICLE VII.
! On the first Wednesday in Janu.
airy, 1919, and annually thereafter
on the first Wednesday in January
in each year, a meeting of the stock
j holders of this corporation shall bt
: held at its domicile for the purpose
of electing directors for the ensuing
; year. A failure from any cause
:. whatsoever to hold the annual meet
elect directors thereat, shall not dis
) solve this corporation, but the direc
tors and officers then in office shall
, remain in office until their success
sors shall have been respectively du
ly chosen, elected, qualified and in
z stalled.
: ARTICLE VIII.
! This charter may De amended, an
e the capital stock of this corporation
. may be increased or decreased, o
this corporation may be dissolved il
Tho voo%hod and manner rr0vidp0 h