The St. Mary banner., 1922-11-11

ONd Surh unpaid balance. The names
residences, and the number Of share,
held by each Of the Subscribers ar
given in the handwriting Of each. -
that of his attorncy-in-fact. at tht
end of this act and the same shal
serve IS the 0ri zlnal list Of sul.
scriptions to the capital stock of this
corporation.
ARTICLE ".
All the corporate powers Of tbi,
corporation shall be vested in jrs
Board Of Directors to be composoc
OF ten (lO) persons, but which ma,
be increased at any time w tc
twenty 600 by a vote Of two-thirds
Of said Board of Directors at ,
meeting called for that purpose
Four a. Directors shall constitute 2
quorum for the transaction of anv
business. The first Board of Direc-
tcrs ard Officers of this corporation
shall consist of the following of it.,
stockholders, all of whom shall hold
office as such until their successors
have been elected and qualified:
Names: Postofiice Address
j. A. Peterman, Franklin, La.
Geo. D. Palfrey, Franklin, La.
n. G. Huth, Franklin, La
W. 7. Palfrey, Franklin, La.
". K. Snardon, Franklin, La.
P. Kramer, Franklin, La.
Chas. f. Fernandez, Centreville. La,
VIM. Schwan, Centreville, La.
H, II. Gates, Franklin, La.
Rene H. Himel, Franklin, La.
With j. A. Peterman, as President;
Geo. D. Palfrey, as President,
and ". T. Palfrey, as Cashier.
The members of all subsequent
Boards shall be elected by the stock
holders annually on the FIRST
TUESDAY Of FEBRUARY of each
year. All such elections shall be bv
ballot and conducted at the principal
office of the corporation, under the
supervision of three commissioners
appointed by the Board of Directors
for that purpose. Notice Of any such
election shall be given by written
notice mailed to each stockEolder at
his Post Office address, not less than
ten days prior to such election Each
stockholder shall be entitled to one
vote for each share of stock stand
ing in his or her name on the books
of the corporation, to be cast in per-
son or by written proxy. A majority
Of the votes so cast shall elect. Any
vacancy on the Board of Directors oc-
curing by death, resignation, or 9th
erwise, shall be filled for the remain
der of the term so vacated by the
remaining directors. Any failure to
elect directors annually shall not
dissolve the corporation, but the di-
rectors then in office shall continue
to serve until their successors shall
have been duly elected and qualified.
The Board of Directors named in
this charter shall appoint employees
as they may deem necessary. Each
succeeding Board of Directors shall
elect president, one or more vice
presidents, cashier and such other
officers and employees as they may
deem necessary Immediately after
having qualified as such. The Board
of Directors is empowered to appoint
from its members such committees
as it may deem proper, and to vest
them with any of its powers to be
exercised when the Board is not in
session, and subject to any require
ments which the Board may pres
cribe. All of the officers, employees
and committees shall hold Office at
the pleasure of the Board of Direc-
tors, and the Board shall define their
duties and fix their compensations.
The Board shall have the right to
make and establish, as well as alter
and amend, any and all bylaws,
rules and regulations necessary to
the proper conduct of the business
OF this corporation.
ARTICLE V.
This act of incorporation may be
altered or amended by the affirma-
tive vote of the holders of two-thirds
Of the capital stock of the corpora
ton at a meeting of the stockhold-
ers held after thirty days notice by
publication in newspaper regularly
issued in st. Mary Parish, and by
written notice mailed or delivered to
each stakeholder of record at his
latest known address. This corpora
5ion may be dissolved by the afirma-
tive vote of the holders of three
fourths Of its stock present or rep
resented at meeting convened for
that purpose, after thirty days no
ice by publication and mail as re-
1uired by law. Such a meeting shall
be convened by order of the Board
On its own motion, or on the written
request of majority in amount of
stockholders. On the dissolution Of
his corporation by action of its
stockholders, it's affairs shall be liq-
lldated by three commissioners, sell
'cted by majority of the stock
holders present or represented at
he meeting ordering such dissolu-
ion. The time and manner of liqul-
iation, the compensation of commits
'ioners, and all other matters per-
aiming to the liquidation may be