The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1919-05-10


And no treasury stock shall be sole
until ten (l0) days prior notice be giyer
the stockholders who shall have tht
first privilege Of purchasing same, after
which ten days notice the said treasur,
stock may he sold i'll open market.
ARTICLE ".
TIE corporate power Of this company
snail be vested in, and exercised by, n
hOa"l Of three GU directors, two ri OF
said board shall constitute q Ipr4m for
he transaction Of business, anI their
decisions shall be valid corporate acts.
The stockholders may 1T Il regular meet
ing. by resolution, increase the number OF
directors to five (3I.
The following persons shall constitute
The first board Of directors: Mrs Mtrv
Deckclmau ClauSen. William A. Deckel.
mann and James K. Patterson, with Mrs.
Deckclman Clausen, rs President and
Treasurer; William A. Dcckelnln, A.,
Vice president and Jas. K, Patterson. as
secretary.
No person shall be eligible as director or
IN officer who is not Il <toCkholder in this
company.
During the absence Of the President, til.
Vice President shall act and preside
said board shall continue in office until
the first Monday in January, 1920. at
which date, and thereafter, annually. a
BOARD OF directors shall be elected on the
irst Monday of January Of each year,
unless the same should be holiday. then
The election shall be held on the next legal
lay thereafter.
Written notice Of such election. ad .lress.
ID to each stock holder at his last known
po,totiice address, shall be given at least
en- (lD) days prior to said meeting; and
the board OF directors shall appoint one or
more stockholders to preside ut such cleo
tons As commissioners. In the event of
the failure of any commissioner or COM
mlsSiOners TO attend, the PRESIDENT shall,
" appointment, fill the vacancy, Any
allure from any cause whatsoever to
.ect directors then in otiice, the officers
IT said company, at that time, shall hold
Iver until their Successors are chosen.
in such event the President shall cause
mother election to be held within thirty
,3JD days, and shall give notice thereof As
lereinbefore provided.
At every election AMI meeting each
stock shall be entitled to vote for
Zach share OF stock registered in his name,
ili may vote by proxy.
The election of Directors shall be by
ballot and the maj ority in am ouat OF votes
asst, (each share OF stock vote upon to be
counted as one vote }, shall elect the per.
,on for whom they have been cast.
After elcn election the board of direc-
t0rs shall elect from their own number
the officers OF said company.
The officers OF this company shall be q
President, a Vice PRESIDENT, a Secretary
and Treasurer. The offices of President
and Treasurer and Secretary and Treasur-
IT may be h 9ld by one person.
ARTICLE V.
The Board Of Directors shall have full
)ower to fill vacancies in their number,
caused by death, resignation or otherwise,
from among the stockholders of the cor
poratlOn.
The board shall have full control of the
property of this company and shall so con-
tuct, manage aud Use SAM, as in their
discretion they deem fit, and that is con.
.istent with toe obj -cts of this company
II the welfare Of the same, with the au-
hOrity to frame and adj ,pt such bylaws,
Jules and regulation, as they may deem
necessary fJr the conducting and Ia IN.
tgement thereof; provi led, same shall
lot conflict with this charter or with the
Avs of this State or OF the United States.
ARTICLE vi.
No st)ckh Ol Ter shall ever be held liable
)r responsible for the contracts or fault of
this corporation in any further sum than
The unpaid balance due to the Company
IN the shares owned by him; nor shall
my mere ;nformality in the Organization
x this Company have the effect of renders
ng its charter null, or Of exposing any
to any liability beyond the
tnonnt of his stock.
ARTICLE VII.
The capital stock may be increased or
lhcse articles or inc )rpor alton amended,
VI the corp ,ratlon dissolved, in the man
Ter and form provided for 10y ths Cousu-
,tlon and Laws Of the State Of Louisiana.
ft,n .t-t I,rr
unvened for any such purpose, after
1irty t3Jb days notice sh,tl hlvs been
,iven Of such meeting by advertis .ment in
zoe of the new>p ipers published in the
town Of Franklin, Parish Of st. Mary,
.ouiSiana.
ARTICLE VIII.
In case of dissolution OF Gals coporatioa,
.lther uy limit LII IN of It's chart1r or from
,ny other cause, the liz lllitlon Of its af>
urs shall be c1n III ;teI " tnre, ) ic)m-
nissi )ners selecte ftom tue stock doi lers
t general IN letting Of stockholders, con.
'ened after thirty (3D days notice s1at
ave been given, as above provided ia
Article VII,
Said commissioners shall rem ain in office
Until the affairs Of said corp )ratl0n shall
AYE been fully lIqlliiated.
La case of the de eth Of one or more OF
aid cOmnis St)ners the survivor or sur.
'ivorS shall continue to act.
fhe subscrlD IL. hereto I'VE written OPP.
70 site their name, the num)er of shares
uUscribe for, 50 that this act may serve
the orr 5inll .ubSc ip.ion list.
Thus done and passed at Franklin, Par
81 of 81. Mary. LDli~idua. in the pres
,nce of Luke j. Leg sndre and Miss Olive
Wise, two competent witnesses OF lawful
,ge, and resi- lent, Of the Parish of st.
4 Try, Louisi ana, who bereuuto subscrlb.
ID their nam IS. together with said parties
M me, Notary, on tnls Bird day of May.
\. d., 1919.
, lme. postoifice. No. Shares. Amount.
Irs. Mary Deckelman ClauSen, Foster.
Li., IS shares S9,SH.U0
William A. Deckelman, Centreville, La,
[ share sI1UW
as. K. Parkerson, Franklin, la. [
share SlN.N
Witnesses;
l.. j. LeGenire,