Sugar planter. [volume] (West Baton Rouge [i.e. Port Allen, West Baton Rouge Parish, La.]) 1856-1925, 1858-02-13

declare, that they 40 ny Fhese presents !oI!ii
| the mselves into q corporation, under authorl-
ty of an act of the Legislature Of this State,
entitled : a act for the organization OF cor
p~orations for works of public Improvement
and u%tii1ty.r mo. 1917 Approved March
agree to the following
ARTICLES OF ASSOCIATION:
Art. |. The corporated name OF the as
ISOLATION to be the "LOUISlANA SUGAR
MART,H and to have its d%on1iciIe IN the
city Of New Orleans.
ART. 2. The object Of the association is
| 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-
structions for the convenient storing and sale
OF sugar and molasses.
Art. 3. The Capital Stock of the said
| corporation shall consist Of FIVE thousand
shares, OF fifty dollars each. But this corpo-
| ration shall 60 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 Di-
| %rectors but not more than twenty per cent,
| shall be called in al 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 Presl-
dent. who shall receive such compensation
for his services as the Board may deem prop
cr, 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 entitIe the owner thereof to one
vote. and he may vote by proxy, but no
stock shall Je voted on unless owned in good
faith, at least sixty days proceeding the time
of the election.
ART. 7. When three thousand sshsrcs of
the Capital Stock shall have bee nssu5scfibeA,
an election shall be held by S. o. Nelson, NJ.
0. H. Norton, ]. D. Denegre. J. A. BEaut, |
Logan Mcknight, or any three of them who
shasla act as commissioners for that purpose, |
and who shall 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, {who |
hsall be Stockholders, but not Dlrectors1 to |
be appointed by the Directors, and shall be
held on the third Monday Of January, in
each and every year; at which election u ma |
joritv Of the subscribed stock must be repre- |
sensed to elect, but if a ma jority 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 runber of
shares re presented shall constitute an cleo |
ton.
ARTS In the event. a -.lY cause, the
election should rat be held at the time here
mheiorc, p DIVIDED, then, and in that case, it
may be held at any subsequent time, after
giving thirty days public notice in one or
more OF the newspapers published IN the city
Of Ney 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 10 make a full and
complete statements OF the affairs Of the cor
p~oration, under oath.
ART. 10. 1t shall be the duty of the Presi-
dent to call d meeting Of the stockholders at
any time, upon the written requisition of any
number of Stockholders. owning, or repre-
s%enting by proxy. not less than one-ffth Of
the subscribed Capital Stock Of this corpog-
alton; and the President and Secretary. if
required SO to do, shall make a report Of the
state of the affairs of the corporation under
oath, to such meeting.
ART. II. The Directors shell elect a Sec
rotary, who shall also act as Treasurer, who |
shall give bond with approved security, for
the FAITHFUL performance of his duties, and
shall receive such compensation for bis ser |
vices as the Board NAV from time to time |
fix, and may be removed at their pleasure
They shall also appoint other officers, and
employ such other laborers as from time to
time, they may think proper, ind remove
them at their pleasure.
ART, IL. Dividends shall be made on the
first Monday OF Sc september, in each and every
year, from the nett profits realized from the
business OF the proceeding year.
ART. Is. ANY two Directors, together
with the President, shall form a quorum for
the transaction Of business, and in case of the
absence ofthe President, the Directors, being
not less than three present, shall appoint one
OF their number President pro TEN.
ART. ID. The said corporation shall have
the right to make and use a common seal, to
sue and be sued to purchase, hold, lease. and
tions upon the President shall be good and
valid against the corporation.
ART. Is. The shares in this corporation
snail be regarded as personal estate, and shall
be transferable only on a book kept for that
purpose by the said corporation, which shall
be and remain in ti,e possession of the
President, and by the surrender of the certi-
tcate Of stock; and no stakeholder shall be
obliged to pay. or be responsible beyond the
amount of his subscription. He shall be
to pay up the amount of his whole
subscrlp tion at such time and in such a man
her as the President and Directors may order,
as hereinbetore provided and if any stock
holder shall thus fail to pay, for thirty days
after demand, they may forfeit his stock, and {
sell it again for the benef. Of the corpora {
ion; and when any stakeholder shall have
,aid up his stock in full, he shall be entitled :