New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-09-02
ARrICLR 1


40 hereby declare the following articles to be the
constitution aud chatter Of said corporation
ARTIcLRL
The name, style and title of said corporation
shall be the "Bienviile Oil Works Compailyv And
tne dom mic Of sad corporation s hereby esta
shall commence business on or about the first
day of September la7l aud shall exist for twenty
should be sooner dissolved by order OF the three
fourths Of all tho stock Of the company. II shaii
such as the Board Of Directors may 6eresfter des.
iguate: The president or in his absence the secre-
proper officer on whom citations and all other legal
process may be served.
ARTICLE II
The objects and purposes of the company are
declared to be the following, to wit: To purchase
cotton and other oleagenous seeds prod ucts of
this or any other country. and to manufacture
therefrom OIL oil cakes, soap fertilizer and other
articles of commerce for domestic and foreign mar
kets, and to that end to buy from the proprietors
and owners thereof, the premises known as the
"Bienvliie on Works" in this city.
ARTICLE III.
The capital stock of this company is hereby fixed
at two hundred and fifty thousand dollars, divided
into twenty-five hundred shares of one hundred
dollars each, with privilege of increasing said
be paid for the time and in the manner nroviden
for in article " of this charter.
The company may commence business as soon as
TWO hundred thousand dollars shall have been
subscribed. but each fiscal year shall end on the
thirtieth of September.
Of the company at it's office in this city only but
not while any Indebtedness to the comranv = ist1
on the part OF the holder, and no certificate OF
stock shall be issued until the is paid in full
ARTICLE ".
All persons who have subscribed or may here
pany shall pay cash, or before the first business
day OF the company, twenty-five per cent, or
twenty five dollars on each share, and for she re-
manning seyenty-ive per cent, or seventy-fve
dollars on each share, which shall be divided into
three hstallments Of twenty-five per cent each.
they shall pass their notes 10 the company, pay
abe, respectively two, three and four months
after the first business day Of the company.
The non payment of said notes. as above pro-
vided for, shall forfeit the entire stock to the
company, together with all the benefits thereunto
belonging; provided, that the Board Of Directors
may extend said payments for such time as they
may deem proper. Until the whole capital stock
is taken up, books OF subscription shall be kept
opened by the Board Of Directors
No stakeholder shall, in any event, be made
liable for the losses of the company In any larger
sums than the amount Of his her or their snbscrip-
debtedness TO the company.
ARTICLE v.
On the thirtieth day of September, of tile year
eighteen hundred and seventy-two and of each
and every year thereafter, the president shall
company, showing the receipts and disbursements
made, and the true situation of the company, and
newspapers of his city for one month; and on the
day above fixed the Board of Directors shall de-
clare such dividend as may accrue Of the net pro-
nts OF the company, and tI and determine the
time and the manner in which said dividend shall
be paid to the stockholders.
ARTICLE VI
All the powers of the company shall be exercised
by Board of Directors to consist of i've persons
three OF whom shall form quorum for the trans-
ton of business.
The first election of directors of the company
q hA hnt fhn .1nr- 80 -
1872, and thereafter on the said day in each and
every year, at such place in the city of New Or
leans as the Board of Directors shall designate Of
which the president shall cause at least fifteen
days previous notice to be given in two of the
appoint three of the stockholders inspectors to
preside at such elections and if the said inspectors
decline or fail to attend, the president may APP
point Others to fill such vacancies. The Board Of
Directors thus elected are to take their seats on
the first Monday in November after the election,
and to hold the same one year therefrorn. until
Those persons receiving plurality of votes shall
be considered duly elected In the event Of no
election taking place the day Aforesaid, the
president shall cause another election to take place
within days thereafter, and give notice Of tho
same by advertisement in one or more of the news
papers of this city. No person shall be director
of this company who does not. at the time OF his
election and during his continuance in office, hold.
IN his own name or in the name of the commercial
firm of which he may be a member, at least ten
shares of the capital stock thereof
The Board of Directors shall annually, at their
first meeting, elect from their own members a
president who shall hold his Office until his success
sor is elected and has qualified The president shall
preside at all meetings of the Board of Directors
and at the meetings of the stockholders, and shall
conduct the business of the company generally.
under the supervision of the Board of Directors
In the absence of the president the Board of Dree-
tors shall appoint one of their members to act in
his place; they shall also appoint all the other OH
GERS and clerks of the company they shall fix the
compensation of the president and OF all officers
and clerks employed by said company; they shall
have power to adopt such bylaws as they may
deem necessary and convenient for the govern
ment and regulation of the company. Each and
every stakeholder shall be entitled at elections,
either in person or by proxy to one vote on each
and every share of the capital stock which he, she
or they may respectively hold but not to vote on
any stock to him, her or them transferred within
three months prior to said election.
ARTICLE VII
The following named persons shall constitute the
first Board of Directors of this company and shall
hold their once until their successo shal be duly
elected and have qualified, to wit: Jules Aldges q.
Cavaroc, Paul Aldige, P. s. Witt s. Cambon
They are hereby invested with all the rights
and powers thereunto belonging. with power to
make and sign all acts acts of purchase of the l
said BienVille Gil Works. to make and sign ali
building contracts and all conducts for re pairs and
also to fill any vacancies which may occur in their
number, and generally to do and perform all acts
necessary to carry into full effect the object aud
purposes Of this corporation.
ARTICLE VIII.
At the expiration of this charter or sooner, in
case this company should be dissolved at any gen.
eral meeting of the stockholders thereof to be
convened for that purpose after twenty days no
tice Ia two Of the city papers on the vote Of three
fourthS of all the stock of said company its affairs
shall be iqudated, its debts paid and the bala nce
divided among the stockholders pro rata on the
amount Of stock held by each, under the charge II
and superintendent OF three commissioners APP II
pointed by the Board of Directors.
ARTICLE TX
This act of Incorporation can be altered an
amended by vote of three-fourths Of the capita
stock represented at any general meeting of the
stockholders called for that purpose.
Done and passed at New Orleans, in my oftevI
the day, month and year first above written, in the
presence OF Messrs. Edgar Montegut and Ambroise
G. LaPice, competent witnesses4who have signed
with the said subscribers and me, notary.
Original signed:
Shares. Amount
p J. Martin 500 $50 0ec 1
G. Cavaroc & Son........... 46O 600d
p AIdige Observation-Disclosures. 500 5000
J. Aldige acknowledgements. 400 4OOOt
New Orleans Insurance Associa-