The St. Mary banner., 1922-10-14

CldEeu TO be.
(D To acquire by purchase
lease, exchange or otherwise planta
tions, lands or any interest therein
machinery, tools and instruments
to acquire, construct and operat
sugar and other plantations, sugar o
other refneries, buildings, mills, fac
tories, distilleries, paper mills, OF
wells and other works; to plant, GU.
tivate ard deal in sugar cane, maiz;
or other crops; to buy, acquire
build, possess, rent or sell dwelling
houses; to vWn, lease or otherwise
acquire stores, and to do a genera
merchandise business; to carry or
the business of manufacturing, pro
ducing, refninr, adapting, prepar'
ing, buying, selling and dealing in
and shipping and transporting sugar
cane, sugar, molasses, syrup and al
products thereof; to make all mort
cages of real property and borrow.
ing money thereof by mortga e OF
otherwise, the loaning of money up
on real property and the taking OF
mortgages and assignments of mort
cages of the same.
(2) To carry on the business Of
wareh0using and all business neces-
sary and implicitly incidental thereto
(3) And generally to do all
things necessary and proper pertain
ing or incident to such business.
ARTICLE w.
The capital stock of the said cor
poration shall be THIRTY THOUS-
AND $3.50, 0,O000O) DOLLARS divid-
ed into and represented by Three
Hundred 5000 shares Of the sum OF
One Hundred (S1O0.0O) Dollars each,
which said stock shall be paid for
in cash at the time Of subscription,
or the same may be issued, at not
less than par, in payment or eX-
chan C for property or rights ac-
tually received or purchased by said
corporation, or the same may be is :
sued, full paid, for money advanced,
and for such other valuable consid-
erations or services as the Board of
Directors of said corporation may
determines; provided, that no stock
shall be issued until the ccnsidera-
tion therefor has been received by
the said corporation. No transfer of
stock shall be binding on this corp
Grafton unless same appears on the
books thereof.
Any stockholder may sell, assign
or transfer his stock in this corpora
tion provided thirty (30) days no
tice prior of such intention to sell,
assign or transfer the same be given
the company, and the other stock
holders thereof shall have the first
privilege of purchasing same, after
which thirty days notice the said
stock may be sold in open market.
The capital stock of this corpora
of ONE HUNDRED THOUSAND
& NO-1OO (s1OO,OOO) DOLLARS.
ARTICLE Y. .
The corporate powers Of this cor
poration shall be vested in a Board
Of Directors to be composed of four
(4) Directors, three (3) of whom
shall constitute a quorum Tor the
transaction of business, to be elected
by the stockholders at a general
meeting to be held on the first
Tuesday of February, in each year.
The Board of Directors shall hape
the power to make all bylaws,
rules and regulations, necessary for
the conduct of the business affairs
of said corporation, and shall elect
from thsit nunber a President, q
Vice President, Secretary and a
Treasurer; any two of said Offices
may be combined by vote of the
Directors.
Until the election to be held as
hereinabove provided, the following
shall constitute the first Board of
Directors. viz:
Name: Post-Qfice Address:
John d. Bell, Franklin, La.
Henry McCardell, Franklin, La.
w. X. Smardon, Franklin, La.
S. T. McCardell, Jr., Franklin, La.
with JOHN D. BELL as President;
HENRY McCARDELL as Vice
President and Secretary, and w. K.
Smardon as Treasurer.
No person shall be eligible as
Director OF an officer who is not
stockholder of this company.
During the absence of the presi-
dent, the yice-president shall act and
and preside.
Notice of the election of Directors
shall be given at least ten t1O) days
prior to said meeting in writing, ad-
dressed to each stockholder at his
post-office address; and the Board of
Directors shall appoint one or more
stockholders to preside at such cleo
tion as commissioners. In the event
of the failure of any Commissioner
or commissioners to attend, the
President shall, by appointment, fill
the vacancy. Any failure from any
cause whatever to elect directors the
day named for that purpose shall not
dissolve the corporations; but the
Directors then in office, as we'll as