The Morgan City daily review., 1919-03-18

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 AMI any acts of whatsoever
kind, incidental or usual to corpora.
tion.
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 It by sa:o
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; sald Board OF
Directors shall elect a President, d
Vice-President, and Secretary
Treasurer from among their number,
together with such managers and ST.,
bordinate officials as in their judg-
ment may be necessary, all of said of.
ficers and subordinates 10 have such
powers as said Board may delegate
to them by general bylaws, or spec,
lal resolutions, and to hold their of
fices at the pleasure of the Board OF
Directors.
Directors may for single meeting
grant their proxy to any stockholder
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 emainder of the business year.
ARTICLE v.
The annual stockholders meeting
shall be held on the first Monday
after the first Tuesday OF 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
corporation coming before it.
Each stockholder 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 stockholder shall al
SO have the right at their optior If
voting in the election OF
said Directors.
ARTICLE VI.
The dumici1e 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 (S50,0OO)
Dollars. divided into Five Hundred
(5OO) shares of the par value of One
Hundred ($1O0) Dollars each, fully
paid and non-assessable, all of said
shares to be of equal rank, provided.
however, that said capitar stock may
be increased as provided by law, not
exceeding One Hundred Thousand
($1O0,0O0) Dollars, such increase Oh
stock to be represented by shares OF
the par value of One Hundred (S1OO)
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 ,or 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
liquiGated and wound up in accord
ance with law.
ARTICLE TX.
The subscription OF said incorpo
rators is represented by a shingle
mill with machinery and equipments.
operated as going concern; said
being owned m equal indi-
vision by the three incorporators, and
detailed list of said property, to-
gether with the value thereof as ap-
by the Board of Directors is
euhto dhHcAcu dS part OF this
charter marked Exhibit AZ
Subsequent subscriptions are to be
paid for in cash, or property in such
nstalments as the Directors shall de-
termine. And that this act of incer-
ooration may also serve as sub.
'criptlon list, the parties hereto have
affixed opposite their names the num-
Der OF shares of capital stock for
which each subscribed.