The Morgan City daily review. (Morgan City, La.) 1916-1920, 1918-02-08

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 II.
The dcmicile OF this corporation
shall be at the City of Morgan City,
Parish of St. Mary, State Of Louis
lana.
ARTILLE III.
The objects and purposes for
which this corporation is formed and
the nat,Ie Of the business to be car
ried or b. it, are htreby declared to
be:
To buy and sell stocks. bonds,
mortgages, debentures, trust re-
ceipts, commercial paper, consols,
and government securities, either for
itself or agent of any person, firm
or corporation, but not to engage IN
the banking or stock-jobbing bust
ness; to act as the fiscal agent of
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
any other evidence of Indebtedness;
to carry on any other business which,
Under the law, it may be entitled to
carrv 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 its
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
company's properties and rights,
and generally to hold and exercise
all such incidental powers and pri-
vileges as relate to the objects and
purposes hereinabove set forth or as
may be necessary, useful or conven-
lent for effecting said objects and
purposes
ARTICLE w.
The authorized capital stock of
this corporation is hereby declared
to be the sum of TWO HUNDRED
AND FIFTY THOUSAND DOL
LARS (S25O,OOO.OO) The present
ly 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 ($1O0.OO)
each. The said capital stock shall
shall be personal property. It shall
be fully paid and worcestershire
when issued. No transfer of said
capital stock shall be binding upon
this corporation unless made in ac-
cordance with its charter and BY
laws and recorded on the books
thereof.
ARTICLE v.
The business of this corporation |
shall be managed by and all of the |
powers thereof shall be
vested in and exercised by a board !
of not more than fifteen (15) and !
not less than five (5) directors, to
be elected from among its stock
holders, and majority OF the direc- |
tors, either present in person or
by proxy, shall consti-
tute quorum. The said board of
directors shall have the right to
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
shall be composed of:
E. A. Pharr. whose post-office ad-
dress is Morgan City, Louisiana.
M. E. Norman, whose post office
address is Morgan CITY. Louisiana.
B. O'Brien. whose post-office ad-
iress is Rhoda, Louisiana.
W. B. Reed, whose post-office ad-
lress is Morgan City, Louisiana:
md,
K. S. Foster, whose postoffice
address is Morgan City louisiana;
With E. A. Pharr as President, B.
)'Brien as Vice-President, and M. E.
Norman as Secretary Treasured. Said
BOARD of directors shall serve until
he first meeting of stockholders for
he election of directors, or until
heir successors are elected and
Qualified.
ARTICLE VII.
On the first Wednesday in Janu-
ry, 1919, and annually thereafter
n the first Wednesday in January
n each year, meeting of the stock
lolders of this corporation shall be
leld at it's domicile for the purpose
+ electing directors for the ensuing
ear. A failure from any cause
to hold the annual meet
lect directors thereat, shall not dis s
olive this corporation, but the direc-
OTIS and officers then in office shall
emain in office until their success
ors shall have been respectively du- ]
Y chosen, elected, qualified and in
tailed.
ARTICLE VII.
This charter may be amended, and
he capital stock Of this corporation
aay be increased or decreased, or
his corporation may be dissolved in
he method and manner provided by
Nv. ,
ARTICLE TX.
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