The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1889-02-02

other iesa! process shalt be served.
ARTICLE II.
The objects and purposes of this ccrrors-
ton are declared to ba: to buy and to sell
i'll its corporate name and capacity, every
species of property, both real and personal,
and particularly to carry on in the city of
West Monroe Il general mercantile husi-
ness with the RICH. to buy aud 10 sell Mer-
chandise and produce OF every description
which may enter into com CONNER ana to
OF her aUNi,iaries as the necessities Of the
business may require.
ARTICLE III.
The capital stock of this corporation is
hereby fixed at not less than five thousand
dollars with privilege of extending to tiity
thousand dollars. The number of shares
OF stock shall he 10000 at par value OF
five dollars each, payable on demand in
cash ut the time OF Subscription.
ARTICLE ".
Any member Of the Farmers Union In
good standing shall DO entitled to take
s.Cck.
ARTICLE V.
All this corporate powers OF this company
shall be vested in and be exercised by u
eleven Stockholders: J. Il. Edwards, Robt.
McCrary, q. l.. Mckenzie, S. Il. Lewis, ".
d. Wallace, John Il. Hester, j. s. Henry, J.
Il. Taylor, q. W. Ward. Oliver Calk, and
H. H. u
of Directors will, j. Il. Edwards as presi-
dent, S. =. Lewis AS secretary, and G. +.
Mckenzie rs treasurer. aud the said board
of Diroc .ors and tho other aforesaid officers
shall hold their Offices until tho first Mon
day in December, 1889, or until their sue
cessors arc elected and qualified, and Oh
tho first Monday of December, lSS9, and on
the same day annually thereafter, an elec-
ton for choosing directors shall DO held at
tho office of the company, 4 majority ofthe
votes east shall elect, each stakeholder to
DO entitled to one vote, TO be cast by tho
holder or by proxy; all elections to be held
by ballot. and any vacancy occurring on
sand Board shall be filled by the remaining
din ec.orS.
ANY failure to elect directors at any reg
uiar meeting of the stockholders, shall not
dissolve tho company, but the directors
therein Office shalt continue to exercise
functions until new Board is elected.
Seven members Of said Board shall con-
stitute Il quorum for the transact ion of bus
mess, and said Board of Directors as we'll
as the one herein provided for. shall have
the right to adopt such bylaws, Nules and
Regulations for tho transaction of the bust
ness of said com. auy rs may be necessary,
a:tG, to cause To DO mado and TO use q cor
porato seal with such device os they may
select. and shall elect all officers herein
provided for. and such other officers AS the
necessities of the business may demand.
ARTICLE VI.
No member holding stock in this cor
pDratiUtl SNGll NaNc mo fiSnt 10 WllNufaW
his stock under tive years, and not even
then, if there are any liabilities existing
against this corporation, and in 40 case
shall ihtrp DO ~ Withdrawal of stock except
ders, and no member making application
to withdraw stock shall vote upon said as
ARTICLE VII.
All profits earned. and all effects OF the
shall first be applied to tho
max q 4 "a itn
and Tho liguihaiion Of all jnncbi ednDss
of tho corporation, and second, to be dis
tribu:cd l'ro rata among tho Stockholders
ARTICLE VII
TniS cna!tpr may ne attended or this
corporation dissolved by Il vote of two
thirds of the stockholders present or rep
resented ut a meeting OF the stockholders
convened for that purpose after fifteen days
written notice shall havc been given -
each stocii!oiacr, orHt;cr fifteen days publ
cation tNci cnf in one of the newspapers OF
the City q! Monroe rs tho President may
elect.
Special uoetings of he siock holders may
be called by the president, or iii his absence,
by the secretary ana tieasHer, at amy Time
lipOn similar notice.
In tno event of the dissolution, or at TO
expiration oIthiS charter. iho !iHui,ihiioa
of The affairs of tho company shal be corr
duet ed bV two commissioners 10 he elected
by ballot NJ ~ general meeting Of tlie stock
holders convened for thai purpose, and u
majority OF the stockholders present or
represented shall elect.
frhc commissioners thus elected shall nj
once proceed to settle and wind up tho bus
ness of the corporation, sell, or otherwise
dispoSp of its assets. and on payment OF its
liabilities, dis! rihute the excess pro rata
among the stock holders.
ARTICLE IN.
= X. stakeholder Of this company shall
over he held liable OK responsible for tho
contracts or faults of tho Same in any fur
thcr su;l than the unpaid balance due to
the company on lhe stock owned by him,
nor shall amy nero infurmaiity in Organi-
cation haVn tie effect of rendering this
charter null or of exposing any stockhold-
ers tn a liability beyond the amount of his
stock.
Tins done and passed. on this 2lst day Of
I December. lS-S, a; the city OF Monroe, La.
I in the presence OF s. Z. Lewis and K. A.
! Young competent witnesses, who Sign
| their names hereuniO. together with the
| parties to this act, and me, clerk ard ek-
! Gririo Eccor,icr aud Notary Public.
J. II. EDWARDS.
E8BT M"CHAftI,
Attest. g. +. Nick ENTIE.
! :. =. LEWIS,
/ 4. \. Ett' Ne.
~ AUSTIN GREEN,
/ C ClCrE and ex-Oili"iD Kecorde
! '''''" ana Notary Pablo.