The Morgan City daily review. (Morgan City, La.) 1916-1920, 1919-03-22
cessories thereof to the fullest extern

and to sell and dispose OF the shin
giles, lumber or other products; to
buy, hold, lease, or otherwise acquire,
hold, operate, improve, develop, sell,
or otherwise dispose of lands. tene-
ments, timber, or other property, real
personal or both; to loan money in-
cidental to or accessory 10 the con-
duct of it's 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 purview 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
IS 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
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 sale
Act 267 of 1914. or other laws of this
State
ARTICLE ~.
The entire and full corporation pow
err of this company shall be vested in
the Board of Directors, consisting OF
three members; elected at the annual
stockholders meeting; SAID Board OF
Directors shall elect a President, d
Vice-President. and a Secretary
Treasurer from among their number,
together with such managers and su.
ment may be necessary, all OF said OF.
ficers and subordinates TO 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 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 or 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 as
transact any other business of said
corporation 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 optior 81
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 (S50,0OO
Dollars, divided into FIVE Hundred
(5OO) shares of the par value of One
Hundred (S10OD Dollars each. fully
paid ard rlon-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
(S10O,OOO) Dollars. such increase OF
stock to be represented by shares OF
the par value of One Hunored (Sl00)
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 .ror in cash,
or exchanged for services or proper
ARTICLE VIII.
Upon the expiration of this charter,
either by limitation or action of the
its affairs shall be
liquidated and wound up in accord
ance with law. s-...=...
ARTICLE TX.
The subscription OF said incorpo
raters is represented by single
mill with machinery and equipments.
operated as going concern; said
property being owned m equal indi-
vision by the three incorporators, and
a detailed list of said property, to-
yether with the value thereof as ap-
praised by the Board of Directors is
1ereunto annexed as part of this |
charter marked Exhibit A
Suhseuueut s,,hscriDtiOns are TO be !