The Morgan City daily review. (Morgan City, La.) 1916-1920, 1919-03-21
cessories thereof to the fullest exten


and to sell and dispose OF the shin
giles, lumber or other products; tc
buy. hold, lease, or otherwise acquire
hold, operate, improve, develop, sell
or otherwise dispose of lands, tene.
ments, timber, or other property, rea
personal or both; to loan money in
cidental to or accessory 10 the con-
duct of its business, and to accept
pledges, mortgages or other security
therefor; to borrow money, issue
notes, bonds or other evidences of in
debtedness, and to secure same by
mortgage, pledge or otherwise; and
generally to have such powers and to
do and perform all such other acts,
whether directly enumerated or not
and as may be permitted by law, to
be embraced within the puryiew of
one corporation holding the powers
set out above, as we'll as to do, have
and perform all acts necessary or in
cidental to the enumerated powers.
ARTICLE III.
This company shall have power in
its corporate name to contract, sue
and be sued; to make and use cor
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 the
same, subject only to such limitations
as may be prescribed by law; and, in
general to do and have power to per-
form all anil 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 sa;a
State.
ARTICLE ~.
The entire and full corporation pow
er of this company shall be vested in
the Board of Directors, consisting O.
three members; elected at the ar
stockholders meeting; said Board OF
Directors shall elect President, d
Vice-President, and Secretary
Treasurer from among their number,
together with such managers and SUI.
coordinate officials as in their judg-
ment may be neces airy, all of said of.
ficers and subo, ates TO have such
powers as sait ooard may delegate
to them by cral bylaws, or spec
ial resolut' rs, and to hold their of.
fices at pleasure of the Board OF
Direct ;.
I tors may for single meeting
q L their proxy to any stockholder
9. other director. Vacancies in the
Board shall be filled by tine 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 M. Gotten.
William M. 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 year.
ARTICLE "
The annual stockholders meeting
shall be held on the first Monday
after the first Tuesday OF January OF
each year, after due ana regal notice
at the domicile of said company
which meeting shall elect the Direc,
tors for the ensuing year, as we'll a.
transact any other business of said
corporation coming before it.
Each stockhoider shall be entitled
to one vote for each chare of the cap
ital stock held by him IN person. OF
bv proxy, provided. however, that
each and every stakeholder shall al.
so have the right at their optlor u
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 comeany
shall be Fifty thousand (S5O,OOO)
Dollars, divided into Five Hundred
(sn0) shares OF the par value of One
Hundred (S1OO) Dollars each, fully
paid and non-assessable, all of said
shares to be of equal rank, provided
however, that said capital stock may
be increased as provided by law, not
exceeding One Hundred Thousand
(S1OO,OOC) Dollars. such increase o,
stock to be represented by shares OF
the par value of One Hundred (Sl0O)
Dollars each, fully paid and non-as'
sessable to be sold for such sum not
less than par, as the Directors may
elect. Stock may be paid Tor in cash,
or exchanged for services or proper
ARTICLE VIII.
Upon the expiration of this charter,
either by limitation or action OF the
stockholders, its affairs shall be
liquidated and wound up in accord
ance with law.
ARTICLE TX.
The subscription OF said incorpo
rators is represented by single
mill with machinery and equipments,
operated as a going concern; said
property being owned IN equal indi-
vision by the three incorporators, and
detailed list of said property, to-
gether with the value thereof as ap-
praised by the Board of Directors is
hereunto annexed as part OF this
charter marked Exhibit A
Subsequent subscriptions are to be