The Bienville Democrat. [volume] (Arcadia, Bienville Parish, La.) 1912-1980, 1919-11-20

be invested with all the corporate
powers Of this corporation, subject
however, to any restrictions Whlcl
may be stipulated in This charter.
The Board Of Directors shall elect
Il president, vicc-preSident, secretary
ana treasurer enc last two to be held
by one ana the same party, and such
other officers as may be necessary for
the management Of the affairs Of TIM
corporation: they shall have the pow
er io fill all vacancies occurring by
death. resignation or otherwise Ih'
office Of secretary and treasurer to
be combined and held by one and the
same person.
The following stockholders shall
constitute aud compose the first board
Of directors, VIZ: George W. Sager,
Ahnpr Sicga}, Arthur Goldman, l.. l..
Lipber and G. II. Goodwin, the first two
Of Arcadia, and the last three Of Mol
roe, State Of Louisiana, with George
!, W. Sager, president, G. II. Goodwin.
yir2-proSident, ana Abner Siegal, sec
Rotary treasurer, The first board of
directors shall hold office until the
third Tuesday Of October, 1920, at
which Zine and annually thereafter a
new board Of directors shall be elect
ed by majority Of the stockholders
being entitled to cast. either in persoD
or BY proxy, one vote for each share
Of stock owned by him. Nothing in
this charter to be construed as pre-
venting The reelection Of the first
board of directors, if the majority of
stockholders being entitled to cast,
either in person or by proxy. one vote
FOR each share Of stock owned by him,
50 rule.
, Notice Of the holding Of the annual
stockholders meeting shall be given ac
corIing to law.
The failure sr commission to hold the
annual election Of officers OF this cor
porat0n i'll the manner and at the time
and place specified i'll this charter shall
! in no manner suspend or affect The
business OF this corporation but the
corporate officers then in charge shall
hold office Until their places are tillet
| 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 all
thorizel agent, and is duly entered up
on the books of the corporation.
ARTICLE TX.
This charter may be amended an(
its capital stock increased or decreas.
ed by complying with the provisions Of
law in such cases made and provided.
whenever this corporation is 1iSS0ly-
ed by liquidation or otherwise its af-
fairs shall be liQuidated Or settled by
one or more IiguidatorS elected or ap-
pointed by the stockholders at a meet
Ing called for that purpose, and suc}
liQuidatorS shall have such powers.
perform such duties, and give such
bonds as the stockholders require.
ARTICLE X.
! There shall be 10 preferred stock,
but all stock shall be Of the same class,
equal in all respects, including its vot.
ing power. The corporation may Ill
case its Board CT Directors authorize
| it. hold as much as 100000 shares Of
its stock as Treasury Stock, provided
at least $4,000 shares Shall always
be outstanding and not retired or hello
as treasury stock.
ARTICLE XII
ii is hereby declared that each mem
Der of the Board of Directors herein
above named is the CWner in his own
name and rightly paid for an unincum-
bered, Of at least one share of the
capital stock of this corporation, and
hereafter each director shall posses a
like qualification.
ARTICLE XII.
The subscribers to these articles Of
incorporation, their respective postof-
fees and addresses, and the statement
Of the number Of shares which eacl
agrees to take in this corporation, are
as follows: George W. Sager, Arcadia,
La, 62,500 shares; Abner Siegal, Ar
cadia, La, 62,500 shares; Arthur Coll