The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1888-10-20
NEW ApvERTtSEMENTs
ACT OF INCORPORATION
The Monroe Cotton Yarn and
Bagging Factory.

=. Bagging Factory. :,
DE ir4kNowN AND SREMEMREtsEn
ID that before mo Dennis NJ. Sholars, No
sary Fablie. siNiy consnissicaed and !. quail,
State of Louisiana, OH tho TIL day OF thto-
.t,liowing nan,eil eE.1ens of said i'srtsi, and
Andrew A. g unby. Robert Layton. Fred
Sanlsel Whited, W. 8. lShodes. =. +: Mill
sape, Green L. Bate. Hypoiite fithioi,
). Broadway. Alb. shoisrs.. n IE1dicsar.
II. Kinderman, I. Bser and }. II. Flournoy
/ Who declare that they have associated
and formed themselves into . corporation
and body. polite under the laws OF Louis
lana for the purposes and in the manner
hereinafter provided and SGT forth.
Tho name Of this corporation shall be
The Monroe Cotton Yarn ,and tagging
Factory and by that name It shsit sue ana no
served on the President OF the Board.of
Directors n hereinafter Specided. This
corporation shalt exist for nine,y-nine
years, It's doMicile shall be Monroe.
s- o. 5,..,tis- III. .G rs &
The purpose and object for which this
corporation is formed Is the msnntact nre'
Of cotton into yarn. cotton be8KtnE AND
other fabrics whenever deemed advisable
or necessary, and, to that end, the purchase
Of ground the erection no. OF n% ~
all other acts necessary or proper 70 eerry
ont the purpose Aforesaid. 1t 10 hereby de-
clared that this corporation ia formed With
reference 70 Article 2o7 Of the Constitution
Of the State Of Louisiana, ~ amended ~
1855, and that the capital, machinery and
other property that said corporation, may
acquire and employ In its business, shall
twenty years from the adoption OF said
constitution. III
The capital stock OF this corporation
shall be one hundred thousand tl00, 000)
(2OOO) of fifty (5O) dollars each At All meet
ings Of the stock holders, eack stockholder
shall be entitled to one vote for each sharc
.suhscribed for shall be payable in such In
stallments a. the Board of Directors may
determine and require.
-. ~. .a'...
The affairs OF this corporation shall be
conducted, and its business transacted aud
ing Of ton members, all of whom shall b
stock holders, and shall be elected by . ma
jority of the stockholders 1t an annual
meeting to be called ~ the president
ment in newspaper pubfisEed in the city
Of Monroe. The first ten iucorporatoIs
hereinbefore named shall cCu3titute q
e for a ns q .s
scrtptions, correspondence and collection
OF data and bids for work to be done. But
no purchases shall be made by this Board
holders, which shall be called as soon a.
fifty thousand dollars OF the stock has boon
subscribed. f..
The Board of Directors shall elect from
their number president, . secretary and q
treasurer. The treasurer shall give boud
with good security for sum not less than
10000 ten thousand dollars and for more
if required by the Board. He shall keep
the same on tho order Of the president ~
shall be directed by the Board. The Board
of Directors shall have full and plenary
power to make all contracts, agreementsa and
the establishment and transaction OF tho
business Of tho mandatory hereinbefore
described; provided that no money shall
special authorization by . meeting Of the
and provided further that
tho Directors shall never vote themselves,
or their officers. any conlpensation or sal
of the stockholders. They shall have pow
or to select and buy a site for the buildings
needed by said mandatory. to contract
for the buildings required, to select and
ent, all the machinery and materials need
ed for the business of said manu- factory, to
hire superintendent and other employ
ers, and toohx their compensation, to pnr-
chase cotton, to sell manufactures. aud
generally to do and perform all such acts,
"a are customary in the management and
for the interest Of the cotton manufacturing
business, ard all the contracts and acts Of
said Board of Directors shall be binding on
this corporation and its property.
The mestings Of the Board OF Directors
and the duties of its officers, shall be gov
erned by rules and regulations 10 be adopt
cd by them. A majority OF the Board shall
constitute quorum.
VII.
Immediately after the signing of this act,
the Board of Directors herein provided for,
shall elect q secretary whose duty it shall
book in which he shall receive subrcriptiona
to be signed by the person subscribing,
specifying the amount and number Of shares
subscribed for. Tho secretary shall not
receive subscriptions from persons who In
his Judgment are not good for the amount
subscribed, unless such person gives secur-
ity. The act OF signing tho subscription IN
said book shall create legal obligation OH
the part OF each subscriber, to pay the
amount subscribed to the corporation provi.
ded the amount of fifty Thousand dollars Is
subscribed by all the subscribers: aud
provided that the Directors shall, at theiI
discretion, sue tor subscriptions unpaid, IN
whole or in part. or drop suoh subscrip.
lions from the books Of tho company and
deny the rights of stookholder to the
II,