The St. Mary banner., 1922-11-25

residences, and the number Of SnarCS
held bT ea@a of the subscribers ar
given II the handwriting Of each, ol
that of mis- att0rney-in-fact, at the
end Of this act and the same shall
serve as tht original list of sui
scriptioas to the capital stock of thi.
corporation.
ARTICLE ".
All the corporate powers Of this
corporation shall be vested in its
Board of Directors to he composed
OF ten (l0) persons, but which NAV
be increased at any time W t1
twenty (20f by vote of two-t thirds
of said Board Of Directors a a
meeting called for that purposa
toYr y Directors shall constitute q
quorum fer the transaction Of any
business. The first Board Of Drec-
tors ard Cti,lers Of this corporation
shall consist OF the following of its
stockholders. all Of whom shall hold
Office as such until their successors
have heen elected and qualified
Names: Postoffce Address
J. A. Peterman, Franklin, La.
Geo. d. Palfrey, Franklin, La.
n. G. Huth, Franklin, La.
". I. Palfray, Franklin. La.
". *. Smardon, Franklin, La.
?. Kramer, Franklin, La.
Chas. E. Fernandez, Centreville, La,
Wm. Schwaa, Centreville, La.
i. H. Gates, Franklin, La
Rene Il. Himel, Franklin, La.
With J. A. Peterran, as President;
Geo. d. PalfreT, as Vice-Presdent,
and W: T. Paltrey, as Cashier.
The members Of all subsequent
Boards shall lie elected by the stock
holders annually On the FIRST
TUESDAY of FEBRUARY of each
year. All such elections shall be by
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 stockholder at
his Post-Otfice 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. Ary
vacancy on the Board of Directors oc-
curing by death, resignation, or 9th,
erwise, shall be filled for the remaip-
der of the term so vacated by the
remaining directors. Any failure to
elect directors annually shall NOT
dissolve the corporation, but the d.
rectors then in Office shall continue
to serve until their successors shall
hS have been duly co..ected and qualified.
I'M, Inc Boar" of Directors named in
IS charter shall appoint employees
as they may deem necessary. Ea". Il
succeeding Board of Directors shall
elect a 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 we'll 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 afirma-
tive vote of the holders of two-thirds
of the capital stock of the corpora
ton at meeting of the stockhold-
ers held after thirty days notice by
publication in a newspaper regularly
issued in St. Mary Parish, and by
written notice mailed or delivered 10
each stockholder of record at his
latest known address, This corpora
tion may be dissolved by the affirma
tive vote of the holders of three
fourths of it's stock present or rep
resented at meeting convened for
that purpose, after thirty days no.
tice by publication and mail as re-
quired by law. Such meeting shall
be convened by order of the Board
on it's own motion, or on the written
request of a majority in amount of
stockholders. On the dissolution of
this corporation by action of its
stockholders, it's affairs shall be liq-
Undated by three commissioners, sell
ected by a majority of the stock
holders present or represented at
the meeting ordering such dissolu:
dation, the compensation of commits
sioners, and all other matters per
tanning to the liquidation may be
fixed and determined by majority
vote in amount of the stockholders