The Bienville Democrat. [volume] (Arcadia, Bienville Parish, La.) 1912-1980, 1919-11-06

ARTICLE Y.
This corporation shall have power
10 contract sue and be sued; to make
and use a corporate seal and the same
to alter at pleasure; to hold, receive
purchase, lease, sell and convey, as
we'll as hypothecatc and mortgage, IN
IFS corporate name, any property which
| il may own; to appoint such officers
az the business of this corporation shall
require; to make such bylaws, rules
and regulations for the government OF
this corporation, as may be necessary
and the same 70 alter or change at
will.
ARTICLE VI.
The authorized capital stock of this
corporation is hereby fixed at five hun
bred thousand ($jOO,0O0) dollars, di'
yided into five hundred thousand
shares of the par value Of one ($l.OO)
dollar each, and the authorized capital
stock of this corporation may be III
creased to one million Isl, 0OO0OO) dol
lars, by complying with the law In
such cases made and provided. All
shares Of stock shall be paid for In
money or in property conveyed to this
corporation, or In labor performed IN
behalf of this corporation. This cor
poration shall be authorized to COM
mence business when fifty (50) per
cent of its authorized capital stock
has been subscribed and fully paid for
ARTICLE VII.
The business affairs Of this corpora
ton shall be under the management
and control Of a board of directors t.
be composed Of five stockholders, 4
majority of which shall constitute a
quorum. which board of directors shall
be invested with all the corporate
powers Of this corporation, subject
however, to any restrictions whicl
may be stipulated in this charter.
The Board Of Directors shall elect
a president vice-prcsldent, sccretar!
and treasurer (thc last two to be held
by one and the same party, and such
other officers as may be necessary fol
the management of the affairs of Thu
corporation; they shall have the pow
er to fill all vacancies occurring by
death, resignation or otherwise. TIL,
office of secretary and treasurer tC
be combined and held by one and tht
same person.
The following stockholders shall
constitute and compose the first board
Of directors, viz: George w. Saser
Ahncr Siegal, Arthur Goldman, L. l.
Lieber and c. II. Goodwin, the first two
Of Arcadia, and the last three Of Mon
roc. State of Louisiana, with George
W. Sager, president, c. H. Goodwin
yice-presidcnt, and Abner Siegal, sec
rctary-treasurer. The first board OF
directors shall hold office until the
third Tuesday Of October, 1920, at
which time and annually thereafter 4
now board of directors shall be elect
ed by a majority of the stockholders
being entitled to cast, either In persol
or by proxy, one vote for each share
of stock owned by him. Nothing ir
this charter to be construed as pre-
venting the reelection Of the first
board of directors, II the majority Of
stockholders being entitled to cast
either IN person or by proxy, one vote
for each share Of stock owned by him
so rule.
| Notice Of the holding of the annual
stockholders meeting shall be given &C.
cor'ling to law.
| The failure or commission to hold the
annual election of officers of this cor
operation In the manner and at the time
and place specified IN this charter shall
in no manner suspend or affect tn,
business Of this corporation, but the
corporate officers then in charge shall
hold office until their places are fille,'
BY a new election to be provided for
BY the board Of directors.
ARTICLE VIII.
No transfer Of stock shall be bind.
Ing upon this corporation unless the
same shall have been made upon the
application Of the owner or his au
thorized agent, and Is duly entered lip.
on the books Of the corporation.
ARTICLE TX.
This charter may be amended AMI
Its capital stock increased or decreas.
ed by complying with the provisions of
law i'll such cases made and provided.
whenever this corporation is ,lissoly.
ed by liquidation or otherwise its af.
fairs shall be liquidated or setteld BY
one or more liquidators elected or an.
pointed by the stockholders Of q meet.
ing called for that purpose, and sucl
llquidators shall have such powers
perform such duties, and give such
bonds as the stockholders require.
ARTICLE X.
There shall be no preferred stock
but all stock shall be Of the same class,
equal In all respects, including Its vot.
Ing power. The corporation may IN
case Its Board Of Directors authorize
IT. hold as much as 100000 shares Of
its stock as Treasury Stock, provided
at least 100000 shares shall always
De outstanding and not retired or held
as treasury stock.
ARTICLE XI.
1t is hereby declared that each mem.
Der OF the Board of Directors herein.
above named is the cvner in his own
name and rightly paid for all unincum.
bered, OF at least one share of the
|capltal stock Of this corporation, and
nc hereafter each director shall posses a
like qualification.
ARTICLE MI.
The subscribers to these articles Of
incorporation, their respective postof.
llces and addresses, and the statement
OF the number of shares which cacl
agrees to take In this corporation, arc
as follows: George W. Saser, Arcadia.
La, 62,5O0 shares; Abner Sieps] Ar.