The St. Mary banner., 1922-10-21

- 10 acqu..e by purchase,
Sc, exchange or otherwise planta-
tions, lands or any interest therein,
machinery, tools and instruments;
10 acquire, construct and operate
sugar and other plantations, sugar or
other refneries, buildings, mills, fac
tories, distilleries, paper mills, OIL
wells and other works; to plant, cu.-
tivate and deal in sugar cane, maize
or other crops; to buy, acquire,
build, possess, rent or sell dwelling
houses; to own, lease or otherwise
acquire stores, and to do a general
merchandise business; to carry on
the business of manufacturing, pro-
ducing, refining, adapting, prepar-
ing, buying, selling and dealing in,
and shipping and transporting sugar
cane, sugar, molasses, syrup and all
products thereof; to make all MOTT
cages of real property and borrow
ing money thereof by mortgage or
otherwise, the loaning CT 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
warehousing 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 ".
The capital stock of the said cor
poration shall be THIRTY THOUS-
AND ($3O,O000O) DOLLARS divid-
cd into and represented by Three
Hundred (300) shares of the sum OF
One Hundred (S1O0.00) 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-
change 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
determine; 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 (3O) days no.
tice prior Of such intention to sell,
assign OF 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
tion may be increased to the sum
of ONE HUNDRED THOUSAND
& NO-1OO (s10o,OO0l DOLLARS.
ARTICLE V.
The corporate powers OF this cor
po~ation shall be vested in a Board
Of Directors to be composed of four
(4) Directors, three (3) of whom
shall constitute a quorum for the
transaction of business, to be elected
by the stockholders at general
Meeting to be held on the first
Tuesday of February, in each year.
The Board of Directors shall have
the power to make all bylaws,
rules and regulations, necessary for
the conduct of the business affairs
of said corporation, and shall elect
from their number a President, a
Vice-Prcsident, Secretary and
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-Office 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 or an officer who is not a
stakeholder of this company.
During the absence of the presi.
dent, the vice-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
ton 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 well as
the officers of said con,narv eb,U