The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1889-10-26
mo. so.

ures or other bonds. and to do general
printing and publishing business.
ARTICLEv.
The capital stock Of this corporation is
hereby fixed Mt the sum Of one hundred
thou id dollars ($l00,c0 divided into
two thousand (2000i shares Of fifty dollsrs
$500 each. with liberty to Confluence
operations whenever five Thousand dollars
($5OOO) of the capital stock shall have
been subscribed. No st0ckhcld n shall
ever be held liable or responsible for the
contracts or faults Of this corporation ia a
further sum than the unpaid balance due
on the shares II stock beld by him, nor
shall airy mere informality in tn. org.ii-
cation have the effect of rendering this
charter null or exposing y stakeholder to
any liability beyond tue amount of his
st, ok unpaid.
ARTICLE VI
Subscriptions for shares in the capital
stock shall be received only from trustees
elected by and representing sub srdinats
Farmers Unions holding charters from
the state Farmers Union of Louisiana,
and not from individuals. and applications
for shares must be accompanied by TWEEN
ty-fivs per cent in cash of the amount Of
within one year from the date of applica-
ticn, When certificates OF stock shall be
issued in the name of the trustee stock
holder as soon ~ the fall amount sub
scribed for shall be paid up.
ARTICLE VII.
Each subordinate Farmers Union sub-
scribing for stock shall be entitled to ono
trustee stockhclier who shall be the rep
ressntative Of his subordinate union in
the corporation, giving to the president Of
his subordinate union good and sufficient
bond in double the amount of stock sub
scribed for the faithful performance Of his
duty. The first trustee stockh0lder shall
be elected by q subordinate union when
ever the union decides to apply for stock,
and shall serve until the next annual
election Of officers of the subordinate
union, at which his successor shall be-
elected to serve one year, and thereafter
the trustee stockhOlde shall be elected by
the subordinate union annually at the
time of the regular election Of officers.
ARTICLE VIII.
All the corporate powers Of this corpor-
alton shall be vested in and exercised by
the trustee stockholders duly elected. who
shall constitute board of directors for
the transaction of business, two-thirds Of
whom shall constitute quorum. Each
trustee stakeholder shall be entitled to one
vote for each fifty dollar share Of stock
subscribed by his union. The board Of
directors at their FIRST meeting, and on the
first Wednesday thereafter in July Of each
year, which shall be their regular ANNUAL
meeting, shall elect president vice prcsi-
dent, secretary and treasurer. and shall
appoint from time to time. and dismiss at
their will such managers, clerks. agents
and employees ne may be deemed necessary
for the business and purpose of this asso-
citation. and liz their remuneration. and
fix and establish as we'll as annul and alter
all bylaws. rules and regulations deemed
requisite for the support and management
of the Affairs and business of the corporation
ARTICLE TX.
All profits earned shall be applied first
70 pay all operating expenses-second 10
pay ten per cent per annum interest IN
the amonnt of the paid mp capital stock.
the balance Of profits, if any, shall be di-
vided among the subordinate unions hold
ing stock through trustees in this associa-
ton as rebate in proportion to tho amount
Of their purchases and sales through the
association.
ARTICLE x.
This act Of incorporation may be changed.
modified or altered, or said corporation
may be dissolved with the consent Of
three-fourths Of the members Of directors
at any general meeting Of the sud board
convened for such purposes after thirty
(3D days notice of such notice shall, have
been gwen BY advertisement IN tina Holiax
caaoSrcLE, or any other paper published
in the parish.
ARTICLE XII.
Whenever this corporation may be dis
sol we'd, either by limitation of its charter.
or from any cause its affairs shall be liqui-
dated by thee (3j commissioners to be APP
pointed by the trustee STOCKHOLDERS at
general meeting called for the purpose.
Said commissioners shall remain ic Of
fice until the affairs OF said corporation
shall have been liquidated, and in case Of
the death If enc or rsore of said commits
sioners, the said survivors or survivor shall
co,.tinre u act until others may be APP
pointed 20 fiji vacancies, aud the trnstre
shall call meeting inmedi-
ately for the purpose OF filling such va
cancy or vacancies.
Thus done and passed before mo notary
Mt culfax, La, in the preseace Of II. G.
and J. P Lewis competent wit
neskes. who hsrernto subscribe their names
with said parties and ms notary on tho
lav. month aud year in the caption hereof
set forth
g. W. BRUCE. DIP. NORRIS.
NE. swAFfURD. Up. LiScscGH.
Pc s. Pro- L vi y 5 irwin PSF 4To k Y g Irwin
per pro W. d. Irwin, per pro ". d. Irwin.
Attest
II. o. GOODWIN.
J. p. LEWIS.
(SEAL ANDREW THORPE.
Notary Public in and for Grant Parish. La.
I, the undersigned. clerk and ex-cfilcio
Of mortgages 10 aud for the parish