The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1889-09-14

mortgage. and to dispose of said prom.
erty. to sue and be sued, plead and Be
! implicated, contract with. to make and us<
common seal, TO establish bylaws ia
govern this corporation, and hoat debent.
ures or other bonds, and to do general
printing aad publishing business.
ARTICLEv.
The capital stock Of this corporation ia
hereby 6xed 1t the sum Of one hundre,I
thousand dollars ($lOO ,OOO). divided into
two thousand (20OO) shares of Hfty dollar
$3.50 each. with liberty to commeuce
operations whenever Eve thousand dollars
(e5U00) of the capital stock shall have
been suhscribed. No stockholder' shall
ever be held liable or responsible for the
contracts or faults of this corporation in \
further sum than the unpaid balance due
on the shares Of stock held by him, nor
shall any mere informality in thu orRani-
cation have the effect Of rendering thia
charter null or exposing q stockholder 70
any liability beyond the amount Of his
stick unpaid.
ARTICLE vi.
Subscriptions for shares in the capital
stock shall be received only FROM trustees
elected by and representing subordinate
Farmers Unions holding charters from
the State Fsrmers' Union Of Louisiana.
and not from individuals. and applications
for shares must be accompanied by tweu-
ty-fvs per cent in cash Of the amount Of
stock subscribed. the balance to be paid
within one year from the date Of applica-
ton, whom certificates Of stock shall be
Issued in the name Of the trustee STOCK
holder ~ soon - tho full amount sub-
scribed for shall be paid mp.
ARTICLE VII.
Each subordinate Farmers' Union SUBJ
scribing for stock shall be entitled to one
trustee stockhcller who shall be the rem
rosentative Of his subordinate union Ia
the corporation, giving 10 the president Of
his subordinate union good and sufficient
bond In double tho amount Of stock sub
scribed for the faithful performance Of his
duty. The frst trustee stockholdsr shall
be elected by subordinate union when-
ever the union decides 70 apply for stock.
and shall servo until the next annual
election Of officers Of the subordinate
union, at which his successor shall be
elected to servo one year, and thereafter
the trustee etockholder shall b. elected by
the snbordinats union annually at the
time Of the regular election of ofacen.
ARTICLE VIII
All the corporate powers Of this corper-
alton shall be vested in and exercissd hy
the trustee stockholders duly elected, Who
shall constitute . board Of direoeoss for
the transaction Of business, two-thiras Of
whom shall constitute . quorum. Each
trustee stockhOlder shall BE- entitled to one
vote for each nfty dollar shars Of stnck
subscribed by bis union. The board Of
direct0n st their 6rst meeting, and ON the
INST Wednesday thersaftsr in July Of each
year, which shall be their regular annual
meeting, shall elect president, vice prusi-
dent, secretary and treasurer. and shall
appoint from time to time. and dismiss e
their will such managers, clerks, seent :
snu emPioyos - may % deemed necesnary
ZOE the business ana purpose Of this $3.50
c'atIon' ano nx tnear remunerat10n. aud
IA !, snd esssOisn - veai - annni and alter
al oy.i"wss ruies ana regulations deemed
rqn.slte TOT tne support aud management
VI Inc snsars ana business OF the corporation
ARTIC LIE TX.
All profits earne.l shall be arnl;.d s--t
20 nav ali oueratiUv ernen...P.ssr.,,s -
paw ten DER cant ner a,.nnm ;n,ersst ~,
the amount of TIE uaid nm c.n;taI sse,.I
the balance of pre6ta. If snv- shaTl - "A.
vided among the suboriipafe nniors hoid-
ing stock through trusteee in this aseo,.is.
lion "A reh.ta IN nrouovtior "a tho .,non.<
Of their purchases ana saiss thronch ~ |
association.
ARTICLE \.
TIT. "a. oe,...-.....,r.
.od;e.d ~ .It.ssS ' !" - - o.
nav - 5;..,,I'e's .., ~ 49, os.s'cn
- 10y - IL ~ - VIII sno osus Of
It any ssuenI meeting Of the said board |
for such purposes after thirty /
yv days notice Of such notice sdall have /
,HposIcr.v or anv other ,,a,,.r rr,i;shss,
n the parish.
ARTICLE XII.