The Morgan City daily review. (Morgan City, La.) 1916-1920, 1918-01-31
ARTICLE w.

| ARTICLE w.
The authorized capital stock of
this corporation is hereby declared
to be the sum of TWO HUNDRED
AND FIFTY THOUSAND DOL
liars (S25O,OO0.O0). The present
lly 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 ($100.00)
each. The said capital stock shall
shall be personal property. 1t shall!
be fully paid and non-assessable
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
corporate powers thereof shall be
vested in and exercised by board
Of not more than fifteen I5) 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 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
its business.
/ ARTICLE VI.
| The first board Of directors of this
corporation shall be composed Of:
! Z. A. Pharr, whose post-office adj
dress is Morgan City, Louisiana.
| M. E. Norman, whose post-offlce
address is Morgan City. Louisiana.
/ B. O'Brien, whose post-office ad-
dress is Rhoda, Louisiana.
w. B. Reed, whose post-office ad-
dress is Morgan City, Louisiana:
and,
+; X. S. Foster, whose postoffice
address is Morgan City Louisiana;
with E. A. Pharr as President, b.
O'Brien as Vice-President, and M. E.
Norman as Secretary-Treasured. Said
board of directors shall serve until
the first meeting Of stockholders for
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, meeting of the stock
holders of this corporation shall be
held at it's domicile for the purpose
of electing directors for the ensuing
year. A failure from any cause
whatsoever to hold the annual meet
ing of stockholders, or the failure to
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
stalled.
ARTICLE VIII.
This charter may De amended, ane
the capital stock Of this corporation
may be increased or decreased. OF
this corporation may be dissolved ii
the method and manner provided b,
law.
ARTICLE TX.
No stakeholder of this corporation
, shall ever be held liable or respon
sible for the contracts or faults O.
.. this corporation in any further sun
that the unpaid balance on the stool
, for which he has subscribed, no,
shall any more informally in organ
ization have the effect of rendering
this charter null or of exposing
stockholder to any liability Othe
, than as above provided.
THUS DONE AND PASSED in m.
office at the City of Morgan City
Louisiana, on the day, month ant
year herein first above written, in tn
; presence of Herbert Blanchard AM
, James Doiron, competent witnesses
, who hereunto sign their names wit
said appearers, and me, Notary, afte
due reading of the whole.
Warren B. Reed, Morgan City
, La, one share.
! E. A. Pharr, Morgan City, La
' one share.
+, X. S. Foster, Morgan City La
: one share.
e B. O'Brien, Rhoda, La. one share
: M. E. Norman, Morgan City, La
/ one share.
Witnesses:
+ Herbert Blanchard.
= James Doiron.
I. w. PADDOCK.
Notary Public.
. CLERKS OFFICE,
!. St. Mary Parish, Louisiana.
/, Wilbur H. Kramer, Clerk of tn
23rd. Judicial District Court in an
> for the Parish Of st. Mary, State Q
Louisiana, and ex-officio Recorder
: do hereby certify that the above an
\ foregoing is true and correct cop
Of the original, now on file and Q
record in my office, recorded i
> Book RECORD OF INCORPORA
TONS. page No. 238, Entry NJ