Sugar planter. [volume] (West Baton Rouge [i.e. Port Allen, West Baton Rouge Parish, La.]) 1856-1925, 1858-05-29

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sona)ly came and appeared, the persons here
matter named and undersigned, who severa'ly
declare that they do by these presents torn
themselves into a corporation, under authorl'
ty of an act of the Legislature Of this State
entitled: :Anact for the organization OF cor
porations for works of public improvements
and u%ti|,ty." mo. 1919 Approved March
18th. 1855. To which end they make and
agree to the following
ARTICLES OF ASSOCIATION:
ART. /. The corporated name of the as
ISOLATION to be the LOUISIANA SUGAR
MART.n and to have its donlicjle IN the
city of New Orleans.
ART. Q. The object of the association is
directed especially to the lease or purchase
of d lot OF ground, AID the erection thereon
! of suitable sheds, or warehouses and plat
forms. railways, wharves, buildings, and con-
structions for the convenient storing and sale
of sugar and lnolasses.
ART. 8. The Capital Stock Of the said
CORPORATION shall consist of five thousand
shares, OF fifty dollars each. But this corpo-
ration shall 90 into operation when three
thousand shares shall nave been subscribed.
ART. i. The Capital Stock shall be paid
upon the call or demand of the Board Of Di-
~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. 5. 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-
cent. who shall receive such compensation
for his services as the Board may deem prop
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dollars. And said PRESIDENT and Directors
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 aavebeen subscribed,
an election shall be held by S. O. Nelson. NJ.
0. H. Norton, J. D. Denegre, J. A. Blaud
Logan Mcknight, or any three of them who
shall act as commissioner 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 be held by three Commissioners, (wko
hsaIi be Stockholders, but not Dlrectors) 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:
ioritv Of the subscribed stock must be repre-
sen5ed to elect, but if a majority.of the sub
scr:oed 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
ton.
Arts In the event, from any cause, the
election should not be held at the time here
inbeforc provided, then, and in that case, it
may oe held at any subsequent time, after
giving thirty days public notice in one Or
more of the newspapers published IN the city
of New Orleans.
ART. 8. A meeting Of the stockholders
shall be held annually: on the Saturday pre-
ceeding the third Monday of January, at
which meeting it shall be the duty of the
President and Secretary to make a full and
statements of the affairs Of the cor
poration, under oath.
ART. 10. ltshall be the duty of the Presi.
dent to call a meeting of the stockholders at
any time, upon the written requlsition of any
of stockholders. owning, or repre-
by proxy. not less than one-ffth of
the subscribed Capital Stock of this corpor-
alton; and the: President and Secretary, if
required so to do. shall make a report of the
stat of the affairs Of the corporation under
oath, to such meeting.
ART. II. The Directors shell electa Sec
rotary, who shall also act as Treasurer. who
shall give bond with approved security, for
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shall receive such compensation for his SER
and may be removed at their pleasure
They shall also appoint other officers, and
such other laborers as fiom time to
lime, they may think proper, und remove
hem at their pleasure.
ART. u. Dividends shall be made on the
lrst Monday of September, in each and every
year, from the nett profits realized from the
business of the preceding year.
ART. 10. Any two Directors, together
With the President, shall form a quorum for
he transaction Of business, and in case of the
ofthe President, the Directors, being
rot less than three present, shall appoint one
If their number President pro tenn.
ART. IA. The said corporation shall have
he right to make and use a common seal, to
Tue and be sued; to purchase, hold, lease. and
convey real or personal estate: and all cjta-
ions upon the President shall be good and
'alid against the corporation.
ART. Is. The shares in his corporation
hall be regarded as personal estate, and shall
,e transferable only on, a hook kept for that
by the said corporation, which shall
4lways be and remain in the possession Of the
President and by the surrender of the certi-
Icate Of stock; and no stakeholder shall be
to pay, or be responsible beyond the
mount of his subscription. He shall be
to pay up the amount of his whole
subscription at such time and in such a man
Ter as the President and Directors may order,
$ hereinbetore provided and if any stock
lolder shall thus fail to pay. for thirty days