The Morgan City daily review. (Morgan City, La.) 1916-1920, 1918-01-14

indirectly, to enhance the value o
or to render profitable any of tn
company's properties and rights
and generally to hold and exercise
all such incidental powers and pri
vileges as relate to the objects ant
purposes hereinabove set forth or a
may be necessary, useful or conven
+ lent for effecting said objects ant
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 ($25O,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 ($100.0O)
each. The said capital stock shall
be represented by certificates and
shall be personal property. 1t shall
be fully paid and worcestershire
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 v.
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 l5) and
not less than five 60 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 IS in then
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:
E. A. Pharr, whose post-office ad-
dress is Morgan City, Louisiana.
NJ. E. Norman, whose post-offico
address is Morgan City. Louisiana.
B. O'Brien, whose post-offica ad
dress is Rhoda, Louisiana.
W. B. Reed, whose post-office ad-
dress is Morgan City, Louisiana;
and,
". s. Foster. whose post-office
address is Morgan City louisiana;
with E. A. Pharr as President. B.
O'Brien as Vice-President, and NJ. 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 be amended, and
the capital stock of this corporation
may be increased or decreased, or
this corporation may be dissolved in
the method and manner provided by
law.
ARTICLE TX.
No stakeholder Of this corporation
shall ever be held liable or respon-
sible for the contracts or faults of
this corporation in any further sum
that the unpaid balance on the stock
for which he has subscribed, nor
shall any more informally in organ
ization have the effect Of rendering
this charter null or Of exposing a
stakeholder to any liability other
than as above provided.
THUS DONE AND PASSED in my
office at the City Of Morgan City,
Louisiana, on the day, month and
year herein first above written, in the
presence of Herbert Blanchard and
James Doiron, competent witnesses,
who hereunto sign their names with
said appearers, and me, Notary, after
due reading of the whole.
Warren B. Reed, Morgan City,
La, one share.
E. A. Pharr, Morgan City, La,
one share.
K. S. Foster, Morgan City La,
one share.
B. O'Brien, Rhoda, La. one hare.
NJ. E. Norman, Morgan City, La,
one share.
Herbert Blanchard,
James Doiron.
l. W. PADDOCK,
Notary Public.
CLERKS OFFICE,