Bogalusa enterprise and American. (Bogalusa, La.) 1918-19??, 1920-04-01
ARTICLE W

The capital stock Of this corpora
ton is hereby fixed at the sum of
Fifteen Thousand ($15, 000.00) Dol
lars, divided into and represented by
three hundred 5000 shares, of the
par value of Fifty (S50.00) Dollars
per share. No fractional share Of
stock shall be issued. This corpora
ton shall be a going concern when
Twelve Thousand 12,000.00) Dol
lars of the Capital Stock shall have
been subscribed, and not less than
fifty per cent of the entire Capital
Stock as herein fixed shall have been
paid in to the corporation in cash,
and on complying with the other re-
quisites of the law. All Of the sub
scribed Capital Stock must be paid in
within one year from the date Of
this charter, and on the failure OF
any stakeholder to pay all his sub
scription within that period, the
Board of Directors shall proceed to
enforce the collection Of same in such
manner as they deem best.
ARTICLE v.
This corporation shall continue for
a period Of ninety-nine years, unless
sooner dissolved by the members, I'M
der this charter, or by law.
ARTIVLE vi.
The affairs of this corporation
shall be managed and its business
shall be conducted by a Board of
Directors, consisting Of seven stock
holders, each holding at least One
Hundred Dollars worth of the Capt.
tai Stock, unpledged. The Board of
Directors shall have full power to
employ and discharge all officers,
agents and employees, and fix their
compensation and confer on any Of
ficer such power or authority as they
deem fit, and to make all such by
laws, rules and regulations for the
conduct Of the business Of the cor
poration as they deem best.
The first Board Of Directors shall
be the following: ]. J. Carter, Mrs.
Ed Harms, H. M. Mccormick, ]. H.
Lipscomb, E. G. Gibson, Fl. c. Coon
and NJ. ]. Graves, all of whom reside
in Bogalusa, Louisiana, and who shall
serve until the first regular stock
holders meeting for the election of
directors. The stockholders meet
ings for the election of directors
shall be held on the first Monday Of
April, 1921, and on the first Monday
of April Of each succeeding year. All
directors shall serve until their
successors are elected and qualified.
In the event of failure to elect di-
rectors on the regular date herein
fixed, the President shall have the
right to call a meeting of the stock
holders for that purpose on giving
the notice as hereinafter provided for
stockholders meetings.
The stockholders meeting for the
election Of directors shall be held at
the domicile of the corporation, after
notice tn the stockholders, which no
tice shall be delivered in person or
bv letter addressed to his or her last
known place of residence, at least
fifteen DAYS before said meeting.
Other stockholders meetings may be
held when ordered by the Board OF
directors, or twenty-five per cent OF
the outstanding stock, and notice of
such meetings shall be given in the
same manner as provided for in case
of meetings to elect directors; pro-
vided no notice shall be required of
stockholders meetings where all the
stockholders waive such notice in
writing.
ARTICLE VII.
Immediately after the elections of
directors as herein stated, the Board
Of Directors shall meet and choose
from among their number a president
of this corporation and also a secre-
tary-treasurer. Until the regular
stockholders meeting on the first
Monday of April, 1921, or Until their
successors are qualified, thu follow
ing shall serve as the officers of the
corporation: