The Morgan City daily review. (Morgan City, La.) 1916-1920, 1919-03-19

alter at pleasure; to acquire property
of all kinds by any means whatso-
ever; or, to hire or lease the same, to
hold, use or otherwise dispose OF
same, as it may elect, as we'll as to
mortgage, pledge or hypothecate III.
same, subject only to such limitations
as may be prescribed by law; and. in
general to do and have power to per,
form all AMI any acts of whatsoever
kind, incidental or usual to corpora
ton.
In all matters not specifically pro-
vided for herein. this corporation,
shall be deemed to have. possess, and
exercise any and all other further
powers as may be given 1t by saiG
Act 267 OF 1914. or other law. of this
State.
ARTICLE ".
The entire and full corporation pow
er of this company shall be vested in
the Board of Directors, consisting OF
three members; elected at the annual
stockholders meeting; SAID Board or
Directors shall elect President, a
Vice-President, and Secretary
T,
together with such managers and su
coordinate officials as in their judg-
ment may be necessary, all of said OF
ficers and subordinates 10 nave such
powers as said Board May delegate
to them by general bylaws, or spec
ial resolutions. and to hold their of.
fices at the pleasure of the Board OF
Directors.
Directors may for a single meeting
grant their proxy to any stakeholder
or other director. Vacancies in the
Board shall be filled by the remain.
ing members.
Until the first stockholders meet
ing in 1920, the Board of Directors of
the Company shall consist of:
Herbert M. Gotten
Albert NJ. Gotten.
William NJ Gotten Jr.,
which Board shall meet Immediately
after the adoption of this act of in
corporation, at the domicile of the
company and elect the officers for
the remainder of the business wear.
ARTICLE V.
The annual stockholders meeting
shall be held on the first Monday
after the first Tuesday or January OF
each year, after due ana legal notice,
at the domicile of said company,
which meeting shall elect the Direc-
tors for the ensuing year, as we'll as
transact any other business of said
coming before it.
Each stakeholder shall be entitled
to one vote for each chare of the cap
ital stock held by him IN person, or
by proxy, provided, however, that
each and every stakeholder shall al
so have the right at their option ST
cumulative voting in the election OF
said Directors
ARTICLE VI.
The dumicile of this company is
hereby fixed at Morgan City, Parish
Of St. Mary. State OF Louisiana,
where all legal process shall be serv-
ed. as provided by law.
ARTICLE VII.
The capital stock OF this company
shall be Fifty Thousand ($5O,0OO)
Dollars, divided into FIVE Hundred
,500) shares of the par value of One
Hundred (S100) Dollars each, fully
,aid and worcestershire, all of said
shares to be of equal rank, provided.
however, that said capitai stock may
'e increased as provided by law, not
exceeding One Hundred Thousand
$1O0,OO0) Dollars, such increase O,
took to be represented by shares OF
he par value of One Hundred (SlOO)
Dollars each, fully paid and non-as.
essable to be sold for such sum not
ess than par, as the Directors may
lect. Stock may be paid ror in cash, |
n exchanged for services or proper
y.
ARTICLE VIII.
Upon the expiration of this charter, |
ither by limitation or action of the
tockhofders', its affairs shall be
iquidated and wound up IN accord
ARTICLE TX.
The subscription OF said incorpo |
ators is represented by a single |
all with machinery and equipments
pefated as q going concern; said |
roperty being owned m equal indi-
ision by the three incorporators, and
detailed list of said property, to.
ether with the value thereof as ap-
raised by the Board of Directors is
ereunto annexed as part of this
harter marked Exhibit Az
Subsequent subscriptions are to be
aid for in cash, or property in such
as the Directors shall de-
ermine. And that this act of incor-
Grafton may also serve. as a sub.
criptlon list, the parties hereto have
ffixed opposite their names the mum.
er OF shares of capital stock for
hitch each subscribed.