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

u
hereinabove provided, the following
shah constitute the first Board OF
Directors. viz:
Namc: Post-Of'ce Address
i! y. Bell. Franklin, La.
,.cn1y McGarGall, Franklin, La.
w \. Sr.ardon, Franklin, La.
S. I. McCardell, Jr., Franklin, La.
with JOHN D. BELL as President
FENRN McCARDELL as Vice
President and Secretary, and w. l.
Smardon as Treasurer.
No person shall be eligible as
Director or an officer who is not a
sto hholder Of this con pany.
During the absence of the pres
dent, the vice president shall act and
and preside.
Notice @f the election Of Directors
shall he given at least ten I0) days
prior to said meetin" in writing, ad-
dressed to each stockholder at his
post-otiice address; a2d the Board OF
Directors shall appoint one or more
stockholders to preside at such elec-
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 corporation; but the
Directors then in office, as we'll as
the officers of said company, shall
hold over until their successors are
chosen.
At every election and meeting each
stockholder shall be entitled to vote
for each share of stock registered
in his name, and may vote by proxy.
The election Of Directors shall be
by ballot, and the majority in amount
of votes cast, each share of stock
voted upon to he counted for one
vote, shall elect the person or per-
sons for whom they have been cast.
After each election the Board OF
Directors shall elect from their own
The Board of Directors shall have
full power to fill vacancies in their
number, caused by death, resigna-
ton or otherwise, from among the
stockholders Of the corporation.
The said Beard shall have full
control Of the property of this COM
pany, and shall so conduct, manage
and use the same as in their discre-
tion they deem fit, and that is con-
sistent with the objects of this
company or the welfare of the same.
The said Board shall elect or ap-
point such other officers, agents, en-
ployees, servants and clerks as it
may deem necessary for the conduct
ing of the business of the corpora
ton, fix their compensation, term of
service, with the right to dismiss
them at said Boards pleasure; ani
said Board shall have the right To
fix and determine the salaries of the
several officers herein provided for.
ARTICLE VI.
This Charter may be changed.
modified or amended, the capital
stock Increased or decreased, or this
corporation nay be dissolved at a
general meeting of the stockholders
convened for that purpose with the
assent of three-fourths of the entire
capital stock, whether present OF
represented at such meeting, and up
on compliance with the laws of the
State of Louisiana.
In case of dissolution or termina-
ton of this corporation, either by
limitation of its Charter or from
any cause, the liquidation of it's
affairs shall be conducted by three
CD commissioners selected from the
stockholders, and said commissioners
shall remain in office until the at
fairs of said corporation shall have
been fully liquidated. In case of the
death of one or more commissioners,
the survivor or survivors shall con-
tnue to act.
ARTICLE VII.
No stockholder of this corporation
shall ever be held liable or respon
Slbie for the contracts or faults
thereof in any further sum than the
unpaid balance due the company On
the shares of stock subscribed for
or owned by him; nor shall any in
f0rmallty IN organization have the
effect Of rendering this charter null,
or Of exposing stockholder to anv
liability beyond the unpaid balance,
if any, of his stock.
ARTICLE VIII.
So that this charter may also
serve the purpose of and as a SUBJ
scription list, the undersigned org
anlzers of this corporation have,
respectively, subscribed for stock
therein for the number of shares
and amounts respectively set oppo-
site their signatures hereto.
Thus done and passed at Franklin.
Parish of st. Mary, State of Loui-
siana, on the day and date first
above written, in the presence of
T. J. Foster and E. NJ. Johnson,
competent witnesses, who have here
unto subscribed their names with the
said appearers and me, Notary, aft
er due reading Of the whole.
No. of
Name: Shares: Amt.
John ID. Bell. so $4,000. 90
W. X. Smardon, 40 1000. 90