The weekly Thibodaux sentinel and journal of the 8th Senatorial District. [volume] (Thibodaux, Lna. [i.e. La.]) 1875-1898, 1889-04-13

OAS EUGENE M I
EMILE MORvANT and f. d. WHITE and
the officers of said Corporation, during the
term of said Board aforesaid, shall be as fol- |
lows T.. D. WHITE, President, EUGENE RO
BICHAUX, Secretary, and j. Is. LEVERT,
Treasurer.
ARTICLE FIFTH.
The said corporation shall have the right
to make and use a common seal, to sue and
be sued and legal process shall be served on
the president and in the event of his absence ;
from the parish where the Corporation is
domiciled. upon the secretary. The said Cor
poration may also purchase. hold and con
vey, and mortgage, real and personal estate,
and snail have corporate existence for the
term and period of ninety-nine years from
ana after the date OF this Act.
ARTICLE sIXT
| The Board of Directors shall have power to
generally supervise the business of the Cor
poration, 10 adopt general rules for its con-
duct, to contract for the purchase of machine
~ and the necessary plant for the purposes
of the corporation, TO fix the price of ali cane
or syrup bought, and the charge fer granu-
lating syrup. and to do. all and everything
necessary and incidental to the objects and
purpose OF the Corporation, as hereinabOVe
expressed fixing the salary of officers, de-
timing by. general rules the expenses of the
corporation, and providing for such assist
ance or superintendent as may be necessary
to carry out the executive business of the
Corporation. It shall have power, by unani-
NOUS vote, to mortgage OF pledge the proper
tN. plant or effects OF the Corporation, as the
case may be. Three ~ members of the Board
NiAui OilS q GtolitI y tliC t.lIStttiVtl
CT business, but no business, other than the
regular administrative business OF the Cor
poration, shall be conducted by the Board at
other than regular stated meetings., unless
notice be given to the members of the Board
of the nature of the extraordinary business
to be conducted at any extraordinary meet
ing. The members of the Board shall have
the right to be present at the meeting of the
Board and participate therein, either III per
fled to be a Director OF this Corporation. un-
less he shall own eighteen QS) shares of the
Capital Stock.
ARTICLE SEVENTH.
The president shall nave general supervt-
sion over the administrative affairs of the
corporation he shall preside at the meet
ings of the Board and deal directly with the
executive officers of the Corporation. But
the Board of Directors, at any time, by unani-
nous vote, shall have the right to remove or
suspend any employee, superintendent, or
other subordinate officer of the Corporation.
The treasurer shall be the custodian of the
funds OF the Corporation and the disbursing
agent thereof. He shall keep his office in the
city of New Orleans. The secretary. shall be
charged with keeping the books and records
OF the Corporation.
ARTICLE EIGHTH.
No stakeholder shall be obliged to pay, or
be responsible for any sum beyond the
amount of his subscription, and he shall be
subject to no further call and shall, in no
way, be liable for any of the debts of the Cor
poration. All creditors must look to the cor
porate property for their demands nor shall
any mere InIoTlldlltN III organization ilaNc
: the effect of rendering this Charter null or
exposing any stakeholder to any liability be-
You'd the amount of his subscription.
ARTICLE NINTH.
The revenues of this Corporation at the end
OF each year, after the payment of taxes, re-
pairs, debts, and such other needful outlay
or reserve, as may be deemed by the Board
necessary, shall be divided pro rata among
s shaii .G noMever. be t snSts pao t ra' the a's foii"Win
exception The Board shall enter into a con-
tract with the incorporators herein named,
!; 4 ROBICHAUX; with the planting firm of
LFVERT : MORVANT, and f. d.. WHITE, by
which said planting firms and said subscriber
aforesaid, shall become participants in the
profits of the Corporation, upon the basis of
!, syrup furnished by the said firm and sub
scribers for FORMULATION, so that up to a given
extent, the said parties shall be participants
: in the profits on said SYRUP. The object of
! this stipulation being to make the said par
ties. up to a limited extent, mutual partieei-
contract made by the Board of Directors to
. execute this latter provision with the parties
aforesaid, to be ratified by the unanimous
! vote of the stockholders, and be binding upon
, the Corporation.
l ARTICLE TENTH.
At all meetings of the stockholders, a ina
jority shall constitute Il quorum.
| ARTICLE ELEVENTH.
: 1t shall not be lawful for any STOCKHOLDERS
? to dispose of any share or shares of the Capt.
ia! stock of this Corporation, without first
offering his shares or share to the said Cor
poration, and giving it the preference OF pur-
chasing the same at such price as may be
offered by any other party: and only upon
) the refusal of this Corporation to purchase
the same, will the transfer OF such share OF
: shares be authorized to be made upon the
books of this Corporation.
ARTICLE TWELFTH.
n No transfer OF stock Of any stakeholder
shall be valid, as long as he is indebted unto
the Corporation; and the Corporation shall
have a lien upon the stock of each stockhola
er, for any debt due by him, or the firm OF
:, which he is Il member. No stock shall bt
, transferred except upon the books of the
I Company, and no transfer shall be binding
Z unless entered upon the books of the Corpo
ration.
' ARTICLE THIRTEENTH.
This Charter shall not be dissolved, altered
q or amended, except by the unanimous con
II sent of the stockholders.
el ARTICLE FOURTEENTH.
Whenever this Corporation is dissolved
either by limitation of its Charter or from
any other cause, it's aft airs shall be liquidat
ed by three commissioners to be appointed
from among the stockholders at a genera
meeting thereof. convened, after ten Go
n days prior notice to the stockholders, b,
g letter to their address. and by publication ii
o one of the newspapers published in Thibo
10 ' daux, in the Parish of Lafourche. The sai'
l. liquidating commissioners shall remain il
le Office until their functions are fully discharg
ed. The said liquidation shall not extend 70
N a longer period than eight (S) months. An,
vacancies in their number to be filled by
ot meeting of the stockholders to be called 70
that purpose.
le ARTICLE FIFTEENTH.
lie The Capital Stock of said Corporation here
20 inabove referred to, is subscribed as follows
rs The planting firm of LEEERT & NOR
n WANT thirtV-Siy (361 shares of Five