The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1919-04-26
Article ~.

, Hundred (S100.00) Dollars pei
, share, which capital stock may bt
6 increased to the amount of Tween
ty-five Thousand (S25,000.00l
: Dollars in accordance with tn
laws of Louisiana. Stock II
this corporation may be paid
, for in labor or other services,
? and in material furnished or
good will as we'll as in cash,
land the Judgment of the Board of
Directors as to the value of the
property, labor, good will or ser
vices so taken, shall be conclusive
This corporation is authorized to
commence business when one
half of the capital stock has been
subscribed and paid for in full.
Article Y.
The corporate powers Of this
corporation are hereby declared,
except as hereafter may be stipu-
lated, to be vested in and eXecut-
ed by Board of Directors COM
posed of five of the stock holders
three of whom shall constitute a
quorum, which said Board of Di-
rectors shall be elected annually
by said stockholders on the first
Monday in January of each year;
each stakeholder shall be entitled
to one vote for each share of
stock held and owned by him, and
may cast his vote in person or by
written proxy; and said meeting
of stockholders shall be preceded
by due notice according to law to
each stakeholder at least fifteen
days before such meeting; pro-
vided, however, that a failure to
hold said meeting of the stock
holders and to elect a Board of |
Directors shall not operate as a
forfeiture of the charter or any
abandonment of any rights secur-
ed by it, to the stockholders, but
The Board of Directors and Off
GERS shall hold over until their
successors are elected and quail
fled. Other stockholders meet
ings may be held when ordered
by the Board of Directors or the
holders of thirty-three and one
third (33 1-3) per cent of the out
standing stock and notice of all
stockholders meetings other than
adjourned meetings shall be given
in the manner prescribed for
stockholders meetings for the
election of Directors unless such
notice be waived, and all meetings
of the stockholders shall be held
at the domicile of the corporation.
Article vi.
The Board of Directors when
elected by the stockholders shall
elect from their number a Presi-
lent, Vice President, Secretary
md Treasurer both of which last
FAMED offices may be held by one
person.
The respective officers shall
lave the powers usually given to
aid officers, and shall serve until
heir successors shall have been
lected and qualified.
The President and Secretary,
With the approval of the Board Of
Directors shall have the right
'ower and authority to enter into
nd execute all contracts of any
Azure which they may see fit to
make, and to make purchases,
ales, leases, sub-leases and exc
Ute all other. instruments as in
lelr Judgment may be proper
nd for the best interest of the
orporation.
The following named stock
olders shall constitute the first
GARD OF Directors of this corpo-
ltlOn and its officers, and shall
until their successors
e elected and qualified at tba
'nual meeting hereinabove pro-
ded for on the first Monday in --
1920, viz: -
M. B. VanNess, President, G.
'noit, Vice President; J. L. Bar
1T, Secretary and Treasurer.
Board of Directors; M. B. Van
eSS, {. Benoit, J. L. Barnett. S,
icon, j. G. Robichaux.
Article VIII.
This corporation shall have au-
GRITTY to adopt a seal, and under
i. name and style above desig-
ted, shall have and enjoy cor
rate succession for a term of
1ety-nine (99) years from the
te hereof. And if before the
of said time, it should -. -.
determined by a majority of nam
stockholders, at a regular or
acial meeting convened, to dis
We this corporation, they shall
ect a commissioner from their
n number at the meeting at
lch the resolution for the dis
utlon of the corporation shall
We been adopted, which COM
'sloner shall liquidate its af-
rs by dlsposing of its property
paying first all the debts and
1llitieS of fhe cn,nnor,,.