Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1922-01-27


ARTICLE Nv.
The authorized capital stock of this
corporation is hereby declared to be
the sum Of five thousand dollars
($5,00o.00) to be represented by
two hundred (200) shares of
twenty-five dollars ($25.00) each,
the said capital stock shall be fully
paid and worcestershire when issued !;
shall be represented by certificates
and shall be personal property and
no transfer Of said capital stock shall
be binding upon this corporation un-
less made in accordance with this
charter and bylaws and recorded on
the books thereof.
This corporation shall have power
to begin business upon the subscrip-
ton and paying in Of one-half its
capital stock, list of the stock
holders and amount subscribed and
paid in is attached hereto and made
part hereof.
ARTICLE v.
The business and affairs Of this
corporation shall be managed and all
corporate powers thereof shall be
vested in and exercised by Board
Of Directors Of not less than five
(5) directors or more than seven
(D directors, to be elected from
among its stockholders, and four of
said directors at any time in office
and present in person, including the
president and other officers, shall!
constitute q quorum.
The said board of directors shall
elect from among their number a
president, a vice-president and a
secretary-treasurer. The office Of
secretary and treasurer to be COM
bined and filled by one and the same
person.
The board Of directors shall have
the full and complete control of the
property Of this corporation and shall
conduct, manage and use the same
as in their discretion they may deem
best, if not inconsistent with the OBJ.
jects Of the corporation and the vel
fare Of the same, said board of d.
rectors shall have the further power
to make, alter and annul such bylaws
rules and regulations for the govern
ment Of this corporation as they may
think proper.
The said board Of directors shall
have the further power to appoint al
agents, clerks or employees and fl,
their salaries, with term Of office
with the right to dismiss them Al
pleasure. and shall further have thu
right to fix and determine the sal
aries Of the several officers herein
provided for.
Any vacancy occurring on thu
Board Of Directors shall be filled b,
the remaining members Of the sais
Board for the unexpired term at any
meeting Of said Board Of Directors
ARTICLE vi.
The Board of Directors Of this cor
rorstion is hereby fxed at five ane
shall be composed Of W. u. Davidson
Thomas n. Wade, Jr; A. 3. Ratcliff
Il. u. Whitney and ]. G.. Macpherson
aid tie said Board of Direction
shall .erve until the FIRST meeting
OF stockholders for the election o.
directors, or until its successors arr
elected, qualified and installed.
ARTICLE VII.
On the first Monday in January
1928, and annually thereafter on thu
first Monday Of each year, a meeting
of the stockholders of this corporation
shall be held at its domicile for tn
purpose Of electing directors for thu
ensuing year. The failure from an,
cause Whatsoever to hold annual meet
ings Of the stockholders or the fail
ure to elect directors thereat shall
not dissolve this corporation, but thu
directors and officers then in Office
shall remain in Office until their sue
Fcessors shall have been duly elected
qualified and installed.
Special meetings Of the stockholder'
may be called in the manner pr.
vided by law and the board of di
rectors may be increased or reduced
in number, and partly or entirely re
moved by any such special meeting
Of the stockholders. All steckholderi
meetings shall be held in accordapcs
with and in manner provided by thu
bylaws Of this corporation hereafter
to be enacted.
ARTICLE VIII
This charter may be amended and
the capital stock Of this corporation
may be increased or decreased OF
this corporation may be dissolved ir
the method and manner provided BY
law.
ARTICLE TX.
No stakeholder Of this corporation
shall ever be held liable or respon.
sible for the contracts or faults Of
this corporation in any further sum
than the unpaid balance Of stock
for which he has subscribed, nor shall
any mere informality in organization
have the effect Of rendering thii