The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1918-06-15
Supplement the ST. Mary Banner Saturday, June IS
ARTICLE ".
C,Oital Stock

Capital Stock.
The Capital Stock OF this corporation
hereby fixed at Seventv-five Thou>an
{ S...r0.to. Dollars. divided into an,, rep
resented hv Fifteen Hundred tl:sej SHADE
of stock. ~ tie amount 0f Fay So Dol
lars each
OF whict amour. Five Hundred {5h
shares Or the total amount II Twenty. tiv,
| Thousand ts2J.VnO.nt,' Dollars has bee,
paid for in full and issued to the owner.
thereof.
Treasury Stock.
The remaining Oae thousand (1u0Hl
shares belonging to the corporation. being
designated Treasury Stocki to be issued
from time 10 tine b. the Board OF pirec.
tors to such persons and N such amounts
as it may deem most advantageous to the
corporations: to be paid for In cash or other
valuable consideration, when issued.
never less than its actual value, as shown
by the books OF the corporation. at the
date of issuance and at no time less than
its par value Of Fifty tS5C.C0) Dollars per
share.
Transfer of Stock.
II any stock shall be sold by its owner
to any one else, or presented to the OH GERS
OF the corporation for transfer. it shall
first be rendered by the holder thereof to
the Board Of Directors OF the corporation,
who shall have authority to purchase
same at its book or market value at that
date. to he considered as Treasury stock
aud to be sold by the Board OF Directors
in the same manner as herelnabOve pro-
vided for Treasury stock; provided that
If said Board OF Directors fail within a
period of one week. after said tender has
been made. to avail itself Of its option to
purchase. then tie owner thereof Stall
be at full liberty to sell same other than
to the Board OF Directors, or to have same
transferred to such persons as he desig>
nate.
No stock shall be transferred except Oh
the books Of the corporation. and the
person to whom the shares are SO trans
ferred 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
his name.
ARTlCLEv.
Hcaru Of Directors.
Ali the powers of this corporation shall
be vested in and exercised by II Board Of
Directors. to lie composed OF not less than
three Or more than ten stOckh oiders. to be
elected annually on the third Wednesday
in July OF each year. beginning on Wednes.
day, July 18th. 1913.
The stockholders before proceeding 10
elect HoaId of Directors at each annual
shall tx the number within the
limits above prescribed, majority Of
whom shall constitute a quorum. All
such elections sbal. lie held by ballot and
at the office of said corporation
lnder the supervisors of three commits.
,ioners to be appointed by the Board of
Directors.
Any vacancy occurring among the Di- |
'ectots. BY death. resignation or other.
wise. shall be filled by election for the re- |
nainder Of the term Of the remaining Di- !
'ectOrs. The failure to elect Directors |
lpon the date above specified shall not |
dissolve the corporation nor impair its |
corporate management. but the Directors
hen in office shall remain in office until
heir successors are elected and qualified.
The Board OF Directors shall eject from
mong their number, a President, Vice.
President, Secretary and Treasurer. the
ftice OF Secretary aud Treasurer can be
eld by one and the same persOn). The
aid Board may from time to time name
nd appoint all such other officers and
gents as they NAV deem necessary for
he purpose and Business of the cor.
'oration. Thee shall have the power
hx and define the powers and
ees and fix he salaries of same,
nd all officers all hold Office aud en-
oyment at pleasure of the Board.
he Board may make and establish. as
'eil as alter and amend any and all by
Avs. rules and regulations necessary and
roper III It's judgment for the conduct.
Import and management of the business
nd affairs OF said corporation. The Board
hall have full power and authority to
orrow and loan money. to execute or .
'ceive mortgages and liens. to issue
onds, notes and other Obligations, to
reate servitudes and generally 10 do all
llngs reasonable. convenient and neces.
Try for the proper carrying on of the
uslness OF the corporation. Every di- i,
'ctor in case OF his absence from the !,
arish Of st. Mary or tie State of Louis.
ma. shall have the power and authority S
appoint in writing a stakeholder or anv '
ember of the Board of Directors. as his c
roxy to sit in his lieu and stead at all /
ceilings OF the Board Of Directors. and to .
present him at such meetings as fully :
though he himself were pre- sent. Such
ritten proxies must be fied with the '
.cretacy Of the Company.
stockholders Meetings.
Sto6 kholder>' meetings for the election l.
directors shall be held annually as pro- ;
ded IN the charter, at tie domiciie of q
&c corporation. and notice thereof must
delivered personally. or by deposit;ng =
the post office properly addressed to
ch stockhOlder, at least fifteen DAYS
fore such meeting. At least two days :
fore said meeting. complete list OF the
ockholders entitled to vote shall be
'ened to inspection by tue stockholders
the place of said meeting. Other stock !,
lders meetings may be held when or.
red by the Board Of Directors or the a
lders Of Twenty-Five per cent Of the out. a
anding stock. Notice Of all stockholders G.
ceilings other than adjourned meetings a
all be gwen IL the manner prescribed
stockholders meeting for the election 80
directors. unless such notice is waived =,
Unanimous consent. provided that no
lice is requil ed when such meeting is ~
journed to given date.
At all meetings of stockholders. each q
'ckhOlder shall be entitled to one vota =,