The Donaldsonville chief., 1920-09-11
ARTICLE NJ

Separate ana distlnct certificates shan 'assa5
issued for each class of stock Said sst.ssssa ss IS
shall be paid for in cash at such 49, ssoek s.
such amounts and after such notice -.aA ID IA
subscribers may be fixed by tha sSas W. y
of directors, and the name shall Ia issssss isssss 81
at not less than par Tor labor done, OF nrss's
efty actually received by the corperat;nru ~
This corporation shall not become =
concern or be authorized to do hss;ss4E Eas sss
until the full amount of its capital ssSs
to-wit: $4,000. shall have been suhserssss. g
and 5said for. - as5s III
The preferred stock shall be and u
| titled to preference and priority ovars ss sss
common stock in the following manns, 49, -
wit: To receive non-comulative diviiss sss
to the extent of s1s.seo per annum aeeonass ,sass
ing from April /. 1920. payable in nrs
more instalments. as the board of as.as. ss as ss
may determine, before any dividend Al N 81
common stock shall be paid The ca.,,sss s 81
stock shall be entitled to net earninra M M
profits m excess OF the non-comulatiye .ss
vidend of $4,000 per annum to haHsnssssa IS q
on the preferred stock, as herein nrnv,ss ss#z
or all net earnings and profits or any sssssA
or portion thereof, in excess of the E.
cumulative dividend of $4,000 per annsss
to bs paid on the preferred stock. as here
provided may. however. in the discresinr Is a
the board of directors, at the end of Ana NJ M
cal year, be placed in what shall ha kra9Ss
| as common stock surplus account II 49,
business of the corporation ut the end asSssaa
fiscal year shows q loss for said Years n III II
and in that event. the board of irsssss ~ 4.
| may, In its discretion, charge the yhnIn Sx s5l
amy portion, of said loss to the said eoIpsus
stock surplus account.
| In the event of any liquidation or disaoIs
| tion or winding up of the corporstssss
| whether voluntary Involuntary, astes IS &
| of it's debts shall have been paid Ia A. l
| naming assets, property and efforts ahasY Il
be applied to the payment of the prefer 81
and common stock in equal proportions. .sz
| Voting power is vested solely in tha a.s. s88
l mon stock of this corporation
The amount to which th0 capital sta.ss
\ Of the corporation may be increased sksis 4
be the sum Of $4,000, which said inrsrSs sz3
capital stock may be of one or more hisSs
/ be made except by unanimous coasarIf n a
the stockholders represented in perssn g
by proxy. H
| ARTICLE v.
| Az of the corporate powers of this Il
poration shall be vested In and ereroiasa ls +
I q board OF directors, composed of thros SiassS&
| stockholders. two t2l of whom shall rohsfs
tute quorum. Said directors shall ID 60
\ ed annually on the third Tuesday In Jatsunsl
of each year at a general meeting 81 fKxs
rectors appointed in this charter, who sksa
hold their offices until the 18th Of Janusfs'
1891. ssz2 sss
All such elections shall be held by kefss
and conducted at the office of the cax1osss
tion under the supervision of two {g3 saSss
missionsrs to be appointed by the hoaIa 81 i
directors. Notice OF such meeting aHa u
! nil other stockholders meetings ahsll fsa !
1 given in the manner prescribed hy hw. SsS
when not 30 prescribed. then written III!
Of such meetings shall he deposited III M
fifteen t15) days prior to the date ok SaoS
/ meeting in the postoffice of the city al hoSs +
jacksonville, postage prepaid. propssls IS
ldressed TO each stockholder at his laat knas&
| residence or place of business a u sSsaaaSa
At all such elections and at all corpotz3ss
meetings. every stockholder shall be etifafE6ss
to one vote for each bare OF common asotE #
tstanding in his name on the hooks VI fas
corporation. to be cast by him In passas
Tor by his written proxy, and d naiarlty N
the votes cast shall elect.
Any vacancy or vacancies occurring aSar4S
tthe directors by death resignation ar 0tA6ss r
/ wise shall be filled by election for the sisz
iexpired term by the remaining directorss
/ The failure to elect directors on stha 6SsH l.
above specified shall not dissolve ths W.
poratioT. nor impair Its corporate saiatcaaz f.
Tor management, but the directors then iii Qzs +
flee shall remain In Office until their sHassss
sars are elected and qualified. ssaH
The board of directors shall, aIlnsnltx ES F.
Hts first meeting after election, elect fFdS
| Its own number a president. . secsstarg M
faB treasurer, or Ii may elect one gEefa6ss
shall be both secretary and treasurer.
/ board of directors may also elect ans & s
imore assistant secretaries, neither Of Ms1s
tneed be members of the board Or dire6tdaa
in this corporation. The board of darett9za
shall have power and authority 20 nanaa a1
appoint all such other. officers, aKenka MI
the purpose and businesB OF tkiH cuxHe fsz f.
Said board shall have the power nua ANtla6
| ity TO Tix the compensation and deaiNs
duties OF every officer and enpl0yAs m
t tail officers and employees ahaii hold
and employment at the pleasure of a1I
board. provided that no salary shall 81 B1{
| to any officer until the requirements zzS Il
the payment Of the preferred stock diyfasagaf
l 4
establish. as we'll AZ ater and annenA 4Sz
and all hy-laws, rules and regulations Mtas
sary and proper in It's Judgment for III 81
conduct, support and management nf
business ard affairs OF asid eorporati0Rs
The said board shall have full power A4
authority to borrow money, exeeuta saaz
cages and create liens to issue bonds, n6lfz
land other obligations and to sae1r4 fsx
same by MORTGAGE. pledge or otherWlse, fzs
generally, to do any and all things faHsa III
| bic, convenient and necessary for thu pfags
| er carrying on of the business ard akaas
/ of said corporation SssSssS
| Said board may issue fun paid sIasss
stock for cash or In payment of Labor aa9s
and performed for said corporation. " pz
Ierty actually receiver by said coEpafasSs
upon complying with the required by III
| ARTICLE vi.
/ Whenever this corporation shall he
solved, either by limitation or from N
other cause. its affairs shall be liatiasss
BY two t2l commissioners to be app0laMs
from amongst the stockholders Mt gefe
meeting of the stockholders conssned
such purposes; two-thirda In amount
the capital and common stock Of said sea
ppration represented at such meeting -
be necessary to elect. Said eornmlssigst
| shall remain in office until the affaiss
| said corporation shall be fully laHiess
| I'm case Of the death of one or more as III
| commissioners. the vacancy or vasxH
shall be fllel by election by the aufyasMz
nfn.~ ct IL.
hold oil powers conferred upon thsA
law Or by the stockholders at such meesa
| II not inconsistent with law. .ss.
| No stockfolder shall ever be hed ssa8
| or responsible for the contrasts, faass 4
debts of said corporation in any furthef FssA FS
then the unpaid balance, IL tiny. daR 81 ID
teorporatior, ON the shares OF stock aSnsa 81 L
hin4 nor shall any mere infornaiify M "a
ganization have tho effect Of rendering ~
charter null or of exposing stoeghoask q
any liability beyond the unpaid baiases
any. remaining due ON his or her stock
ARTICLE VII.
This act Of Incorporation may bs elaass ss u
modified or amended, or tho capital at0FA a@ M &
this corporation may be increased 0R - vi
creased. or said corporation gay he wv &
law; provided. boweper, that this ecf
tion may be dissolved ut any time uDoa 81
Ipiieation Of one-fourth Of the esnsnon saess
hereof.
ARTICLE VIII.
The following shall constitute fhe ss.s
board ef directors OF this corpcTaesons @se @s
iEharest Thibaut. D0naidsonyifls. - ss S
,se r. Bloomenstial, Dcnaidsonyis. sssa III
Mr.. Arthur .. Huey, $50 union atress Ms sassaA
Orleans, La, and Charest Thibaut, Dosas 40
sonviie, La. shall be pressdant; arla .ss..s 1s
r. Eloomenstiel. Donaldsonyille, Lass "
tary- treasurer. II. III v
Tie said board OF directors shall hsla sss 81
fca until the 18th of January. lszi. . .s Mi Is
ttil their successors shall have neea ssa