Sugar planter. [volume] (West Baton Rouge [i.e. Port Allen, West Baton Rouge Parish, La.]) 1856-1925, 1858-07-24

for the parish ofNew Orleans, State OF Lou
%isiana, duly commissioned and qualified, Per
sona]ly came and appeared, the persons here
matter canned and undersigned, who SEVERAL
declare that they do by these presents forn
themselves into a corporation, under authorl
ty of an act Of the Legislature of this State
entitled An act for the organization of cor
porations for works OF public Improvement
and utility" mo. 1917 Approved Mare
14th, 1855. To which end they make an
agree to the following
ARTICLES OF ASSOCIATION:
ART. /. The corporated name of the as
ISOLATION to be the "LOUISIANA SUGAF
MART,o and to have it's domicjle in tht
! city of New Orleans.
ART. 2. The object Of the association j:
directed especially to the lease or purchase
of a lot Of ground, aid the erection Thereon
of suitable sheds; or warehouses and plat.
forms. railways, wharves, buildings, and con
strnctioDs for the convenient storing and sale
of sugar and molasses.
ART. ). The Capital Stock Of the sale
corporation shall consist of five thousand
shares, OF fifty dollars each. But this corpo-
ration shall go into operation when three
thousand shares shall have been subscribed.
ART. 4: The Capital Stock shall be paid
Upon the call or demand Of the Board of d.
%rectors but not more than twenty per cent.
shall be called in at any one time, nor within
any one period Of sixty days.
ART. s. The business of said corporation
shall be managed by a Board, consisting OF
six Directors, who shall be stockholders, who
shall elect one Of their own body as Presi-
dent. who shall receive such compensation
for his services as the Board may deem prop
er, not exceeding the sum of one thousand
dollars. And said PRESIDENT and Directors
shall hold their office until their successors
shall have been elected, and have entered
upon their official duties.
ART. 6. At all elections, each share of
stock shall entitle the owner thereof to one
vote. and he may vote by proxy, but no
stock shall be voted on unless owned in good
faith, at least sixty days proceeding the time
of the election.
ART. 7. When three thousand shares Of
the Capital Stock shall have been subscribed,
an election shall be held by S. O. Nelson, NJ
0. H. Norton, J. D. Denegre, J. A. B,aud
Logan Mcknight, or any three of them who
shall act as commissioners for that purpose,
and who Snail give twenty days notice in one
or more Of the city papers of said election
before holding it. All subsequent elections
shall pe held by three Commissioners, (who
hsall be Stockholders, but not D1rectors,) to
be appointed by the Directors, and shall be
held on the third Monday of January, in
each and every year; at which election a ma
of the subscribed stock must be repre-
sensed to elect, but if a majority of the sub
stock should not BE- represented, then
and in that case, another shall be held on the
Monday following, at which any number of
shares represented shall constitute an cleo
Arts In the event, from any cause. the
should not be held at the time here
nbetorc provided, then, and in that case, it
nay oe held at any subsequent time, after
giving thirty days public notice in one or
more of the newspapers published in the city
If New Orleans.
ART. 8. A meeting of the stockholders
hall. be held annually, on the Saturday pre-
the third Monday of January, at
which meeting it shall be the duty Of the
President and Secretary to make a full and
complete statements Of the affairs of the COR
%'oration, under oath.
ART. 10. It shall be the duty of the Pres;-
'ent to call a meeting of the stockholders at
ny time, upon the written requisition of anv
OF stockholders, owning, or renre.
by proxy. not less than one-ffth of
he subscribed Capital Stock of this corpor-
ton; and the President and Secretary. if
poured so to do. shall make a report of
tate of the affairs Of the corporation under
ath, to such meeting.
ART. II. The Directors Shell elect a Ser
who shall also act as Treasurer, who
hall give bond with approved security, for
ne FAITHFUL performance of his duties: and
hall receive such compensation for his SER
ices as the Board may from time to time
x, and may be removed at their pleasure
hey shall also appoint other officers. and
mploy such other laborers as from time to
me: they may think proper, und remove
aeln at their pleasure.
ART. -. Dividends shall be made on The
rst Monday OF September, in each and everv
ear, from the nett profits realized from the
usiness of the proceeding year.
ART. ID. Any two Directors, together
''th the President, shall form a quorum for
Re transaction Of business, and in case of the
osfnce ofthe President, the Directors, being
otiess than three present, shall appoint one
their number President pro TEN.
ART: IA. The said corporation shall have I
le right to make and use a common seal. to
and be sued; to purchase, hold, lease. and
"'ey iedio personal estate, and all cjta-
'ns upon=the President shall be good and t
lid against the corporation. |
Art. Il. The shares in his corporation $
AL De regarded as personal estate, and shall
transferable only on a book kept for that
rpose by the said corporation, which shall
ways be and remain in the possession of tho
esldent, and by the surrender of the cert;-
Of stock; and no stockho]der shall he "
tsed to pay, or be responsible beyond the S
CUNT of his subscription. He shall he v
y ged to pay up the amount of his whole t,
'scrlptlon at such time and in such a man. Ct
as the President and Directors NAV order, a,
herelnbetore provided and if any stock, o,
ger Shall thus fail to pay, for thirty DAYS n
= demand they may forfeit his stock, and
1t again for the benefit of the cornora-
/; and when any stakeholder shall have =
q up his stock in full, he shall be ent;tled
! certificate for the same s;onoa H. ~ (,