The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1919-05-03
Article ".

A-N''i''' y" NfiOo'No) AOiIdlS pa
share, which capital stock may be
increased to The amount of TWEEN
ly-iiVe Thousand (S25,00O.0J)
Dollars in accordance with the
laws Of Louisiana. Stock in
this corporation may be paid
for in labor or other services,
and in material furnished or
good will as we'll as in cash.
and The Judgment of the Board of
Directors as to The value Of the
property, labor, good will or ser
vices so taken, shall be conclusive
This corporation is authorized to
commence business when one
half of the capital stock has been
subscribed and paid for in full.
Article V.
The corporate powers of this
corporation are hereby declared,
except as hereafter may be stipu-
lated, to be vested in and eXecut-
ed by Board of Directors com
posed Of five of the stock holders
three of whom shall constitute a
quorum, which said Board of Di-
TectOrS shall be elected annually
by said stockholders on the first
Monday in January Of each year ;
each stakeholder shall be entitled
10 one vote for each share of
stock held and owned by him, and
may cast his vote in person or by
written proxy; and said meeting
Of stockholders shall be preceded
by due notice according to law TO
each stakeholder at least fifteen
days before such meeting; pro-
Vided, however, that a failure to
hold said meeting of the stock
holders and to elect a Board of
Directors shall not operate as a
forfeiture of the charter or any
abandonment of any rights secur-
ed by it, to the stockholders, but
the Board Of Directors and Off
GERS shall hold over until their
successors are elected and quail
fled. Other stockholders meet
ings may be held when ordered
by the Board of Directors or the
holders of thirty-three and one
third (33 49, per cent of the out
standing stock and notice Of all
stockholders meetings other than
adjourned meetings shall be given
in the manner prescribed for
stockholders meetings for the
election of Directors unless such
notice be waived, and all meetings
of the stockholders shall be held
at The domicile of the corporation
Article VI.
The Board of Directors when
elected by the stockholders shall
elect from their number a PreSi-
dent, Vice President, Secretary
and Treasurer both of which last
named offices may be held by one
IperS0n.
The respective officers shall
have the powers usually given tc
said officers, and shall serve until
their successors shall have been
elected and qualified.
The President and Secretary
with the approval of the Board OF
Directors shall have the right
power and authority o-enter into
and execute all contracts of any
nature which they may see fit to
make, and to make purchases.
sales, leases, Sub-leases and exc
cute all other instruments as in
their judgment may be proper
and for the best interest of the
corporation.
The following named stock.
holders shall constitute the first
Board of Directors of this corpo.
ration and its officers, and shall
continue until their successors
are elected and qualified at the
annual meeting hereinabove pro-
vided for, on the first Monday in
January, 1920, viz:
NJ. B. VanNess, President, C.
Benoit, Vice President; j. L. Bar
nett, Secretary and Treasurer.
Board of Directors: NJ. B. Van
Ness, C. Benoit, J. L. Barnett, S
Bacon, J. G. Robichaux.
Article VIII.
This corporation shall have au-
thority to adopt a seal, and under
its name and style above desig-
mated, shall have and enjoy cor
Iporate succession for a term OF
ninety-nine (99)s years from the
date hereof. And if before the
expiration of said time, it should
be determined by majority OF
the stockholders, at a regular OF
special meeting convened, to dis.
solve this corporation, they shall
select commissioner from their
own number at the meeting al
which the resolution for the dis
solution of the corporation shall
have been adopted, which com.
missioner shall liquidate its af.
fairs by disposing of its property
and paying first all the debts and
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