The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1888-09-15

LEGAL ADVERTISEMENTS.
CHARTER
Mitchell-McCOrmi Grocer Co.
"LIMITED."
STATE OF LOUISIANA, PARISH OF
OUACHITA.
DE lTKNOWN THAT ON THIS THE
d 3lst day of July A. D. 1888, before me
Dennis M. Sholars a Notary Public in
| and for said Parish and Stata. Only COM
missionetl and qualified, and in the pres
ence Of the witnesses hereinafter named
and undersigned, personally came and ap-
peared the persons whose names are here
| unto subscribed, who declared that availing
themselves of the general laws of the State
relative to the organization of corporations,
and particularly of the provisions of Act
and agreed to and by these presents do
form themselves into and constitute cor
poration under the following stipulations
and agreement, which they adopt as their
charter, to-Wit.
This corporation shall be known and
designated by the title Of Mitchell@ ;,
&c in he 6ty Of Moaros its
| and it shall exist and enjoy succession for
| q period Of ninety-nine years from the date
hereof unless sooner dissolved.
The president of the corporation, or i'll
his absence the secretary and treasurer
shall be the officer upon whom all citations
| and other legal process shall be served.
ARTICLE II.
The objects and purposes of this corpora
ton are declarec to be, to buy and to sell III
its corporate name and capacity, every
| species of property, both real and personal,
and particularly to carry on III tho City OF
| business, with the right to buy and to sell
| merchandise and produce of every descrip--
| ton which may enter into commerce and
| to own and employ such drays, floats and
| other auxilliaries as the necessities of said
business may reG% TISI = r.,
The capital stock OF this Corporation is
hereby fixed at tho sum of twenty-five
thousand dollars divided into $50 shares at
| q par value OF one hundred dollars zach pay
able on demand in cash at the time OF sub 10
| increased to sum not exceeding fifty
| thousand dollars on complying with exist
ing laws.
All the corporate powers of this company
| shall be vested in and he exercised by II
Board of Directors to be composed of three
John w. Mitchell, j. ii. Mccormick
| Agent and John i. Morris shall compose
the first Board of Directors, with Jno. w.
| Mitchell as president and }. II. McCormick
] agent secretary and treasurer, and the
said Board of Directors and the Other afore-
| said officers shall hold their respective Of
! fees until the first Monday OF Septcm Der
1889, or until their successors are elected
and qualified and on tho first Monday of
September 1850, and on the Same day an
nually thereafter an election for choosing
directors shall be held at the Office of tho
| company, a majority of votes cast shall
elect, each share of stock being entitled to
one vote to be cast by, the holder or by
proxy, all elections to DO by ballot, and
any vacancy occurring on said Board shall
be filled by the remaining directors.
Any failure to elect directors at general
| meeting OF the Stockholders shall not dis
| solve the company, but the directors there
| in Office shall continue 90 exercise thon
| functions until a new Board is elected.
| Two members Of said Board shall constitute
quorum for tho transaction of business
| and said Board of Directors we'll as tho
] one herein provided Tor, shall have the
| right to adopt such bylaws. rules and reg
ulations for the transaction OF tho business
of said company rs may be necessary, and
| to cause to be made and to usea corporate
seal with such device as they may select.
and shall elect all officers herein provided
| for and such other officers as the necess-
| ties of the business may demand.
| ARTICLE v.
| This charter may be amended or this
corporation dissolved by vote of three
| fourths of tho stock present or represented
| at meeting of the stock holders convened
| for that purpose after fifteen days written
| notice shall have Deem given 10 cacn STOCK
holder or after fifteen days publication
] thereof in one of the newspapers of tho
| city OF Monroe as the president may elect.
| Special meetings of the stockholders may
! be called by the president or in his absence
! by the secretary and treasurer, at any
| time upon similar notice.
| In the event of the dissolution or at the
| expiration of this charter, the liquidation
| of the affairs of the company shall be con-
| Quoted by two commissioners to be elected
| by ballot at a general meeting of the stock
| holders convened for that parpose, and II
| majority ofthe stock present or represented
shall elect.
| The commissioners thus elected shall at
| once proceed to settle and wind up the
| business of the corporation, sell or other
] wise dispose of it's assets, and on payment
| of it's liabilities, distribute tho excess pro
| rata among the stock holders.
! Should either of said commissioners die
or resign the business of liquidating the
affairs of said corporation shall be con-
tinuei by the remaining commissioners.
| ARTICLE vi.
/ No stakeholder of this company shall
ever be held liable or responsible for the
contracts or faults of the same i'll any
| further sum than the unpaid balance due
TO the company on the shares owned by
him nor shall any mere informally i'll
organization have the effect of rendering
this charter null or of exposing any stock
holder to II liability beyond the amount OF
his stock.
| Thus done and passed on tho day and
date above written at the city OF Monroe,
La, in he presence of ID. ii. Key and II. ii
Dalton, competent witnesses. who here