The Morgan City daily review. (Morgan City, La.) 1916-1920, 1918-06-12

twelve stockholders, the number to
be determined at the annual stock
holders meeting; said Board Of Di-
rectors shall elect President, 4
N:ce-Pres.deEt and Secretarr-
Treasurer from among their number
together with such managers and sub
ordinate officials as in Their judg-
ment may be necessary. al OF said
officials and agents to have such
powers as ..s;d Board may delegate
to them by general by-laws, OF special
resolutions, ami to holi ,:lei- offices
at the pleasure Of the Board Of D:rec-
tors.
Directors may for single meeting
grant their proxy to any stakeholder
or other director Vacancies in the
board shall be filled by the remaining
members.
Until the first stockholders meet
ing in 1919, the Board of Directors
of the Company shall consist Of:
Albert F. Storm
Eugene A. Pharr
Lewis J. Bass
Maurice +. Norman
Ashley W. Pettigrew,
which Board shall meet Immediately
after the adoption of this act of in
corporation, at the domicile of the
Company and elect the officers for
the remainder of the business year,
and fill any vacancies among the
number.
ARTICLE V.
The annual stockholders meeting
shall be held on the first Monday af-
ter the first Tuesday of January of
each year, after due and legal notice.
at the domicile of said Company.
which meeting shall elect the Direc-
tors for the ensuing year, as we'll as
transact any other business of said
corporation coming before it.
Each stakeholder shall be entitled
to one vote for each share of the cap
ital stock held by him in person. or
by proxy, provided. however, that
each and every stakeholder shall al
so have the right at their option of
cumulative voting in the election Of
said Directors.
ARTICLE VI.
The domicile Of this company is
hereby fixed at Morgan City, Parish
of St. Mary, State of Louisiana,
where all legal process shall be serv-
ed, as provided by law.
ARTICLE VII.
The capital stock of this company
shall be Ten Thousand (S1O.OOO)
Dollars, divided into One Hundred
(1OO) shares, of the par value of
One Hundred $4,000 Dollars each,
fully paid and worcestershire, all of
said shares to be of equal rank pro-
vided, however, that said Capi:al
stock may be increased as provided
by law, not exceeding One Hundred
Thousand (s1O0,OOO) Dollars, such
increase of stock to be represented
by shares Of the par value OF One
Hundred (slOO) Dollars each. fully
paid and worcestershire to be sold for
such sums not less than par, as tho
Directors may elect. Stock may be
paid for in cash. or exchanged 70,
services or property.
ARTICLE VIII.
Upon the expiration of this Char
ter, either by limitation or action Of
the stockholders, it's affairs shall be
liquidated and wound up in accord
ance with law.
ARTICLE TX.
This corporation shall become a go
ing concern as soon as Five Thousand
(S5,00O) Dollars of the capital stock
has been actually subscribed for, and
this act of incorporation may also
serve as a subscription list, the par
ties hereto have affixed opposite
their name the number of shares of
capital stock for which each SUBJ
scribes.
Thus done and signed at Morgan
City, Louisiana, on the Both day of
May, 1918, in the presence of J. R.
Braddock and J. E. Bass, competent
witnesses, and me, Notary, after due
reading of the whole.
(Signed)
A. W. PETTIGREW, 9 shares.
E. A. PHARR, 9 shares.
NJ. E. NORMAN, 9 shares,
BY L. j. Bass.
LEWIS J. BASS, Is shares.
A. F. STORM, 9 shares.
Witnesses:
J. R. BRADDOCK,
J.E. BASS.
ROBT. E. BRUMBY,