The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1889-01-19
LEGAL ADVERTISEMENTS.
CHARTER OF THE
Farmers Union cooperative
Association. - I /, 4
[LIMITED.l


Is go TLIMITED. .sss
article T.. - ,s,
THIS CORPORATION SHALL BE
! J. known and designated Oy tho tatie Of
-Limised:S it's dosnicif shall .Ssin the city
| of West Monroe, La, and IT. shall exist Anu
| enjoy succession for period of ninety-nfne
Years from the date hereof unless sooner
The president OF the corporation. or In his
absence the secretary and treasurer. shall
be the officer upon whom All citatinissanu
other legal process shall 20 serveu. /
a2.sl ARTICLE II. 15ce sss.S-l "a
The objects and purposes OF this coseora;,
ton are declared to be 10 ony and 70 sen
species ofrroperty, bothresf and personal.
and particularly to cArry on t>h the cry OF
West Monroe kel0fAt Osse.
ness with the right to buy And 70 sei. mer-
chandise and produce of every description
which may enter into 0omsneree,s asSd 20
own and employ such ,drays, floats and
other nuxiliaries as the necessities or the
business may require. !, ~ n sf 'f.fisf
~ ~ ARTICLE III. y ,g.,s. II
The capital stock of this corporation u
hereby ii xed at not less thNn i've Thousand
dollars with privilege of extending to fifty
thousand dollars. Tho number of shares
OF stock shall he 10000 at par value Of
ii We dollars each, payable on demand al
cash at tho time of subscription. ai = q
ARTICLE w.. IL ttta}t. 4
ANY member of the Farmers 'Union in
good s,a,ding shall be entitled'.to take
stock. ,''1 80
An tbs corporate powers Of this company
shall be vested in and be exercised BY =
Board of Directors to be composed OF
a L. n H..
McCrary, G.. II. Mckenzie, s. p. LOWS, II.
ID. Wallace, John Il. Hester, ]. $. Henry j.
b. Tayiur, q. w. Ward. Oliver CAM, an@
K. L. Terry shall compose the arst Board
of directors with ]. Il. Edwards ~ prsei-
dent, S. =. Lewis as secretary, AND y. L:
Mckenzie as treasurer, and tho said board
of Directors and the other Aforesaid omcers
shall hold their offices until the first Nom
day in December, 1889, or until their sue
cessnrs are elected and qualified, and on
the first Monday of December, 1850. and on
ton for choosing directors shall be held at
the Office of the company. q majority Of The
votes cast shall elect. each stockho!der 10
be entitled TO one vote, 70 oe east ny tne
bv ballot, and any vacancy occurring on
SAID Board shall DO filled by the remaining
din ectors. H.'F. ~
ulur meeting of tho stockholders, shallynot
dissolve the company, but the dlre0eors
therein office shall continue to toxarclse
functions until new Board 10 eleGteH. y -
Seven members Of said Board shall sonrs
stitute quorum for the transaction Oh DuS;l
mess, and said Board OF Directors a. we'll
as the one herein provided for. shall nave
the right to adopt such bylaws, Rules ana
Reg uIatious for the transaction OF the busl-
ness of said company us may he niece ssary,
and to cause to DO made aud to use corr
porate seal with such device Nv they may
seleat, and shall elect all officers herein
provided for, aud such other officers sss The
necessitias of the business may demand. y
ARTICLE vi. #t' =. IT,. y, y
No member holding stock in this. COR
poration shall have tho right to withdraw
his stock under five years, and not even
then, if there are any hapiiities eNistins
| against this corporation, and IN no case
shall I he re be Il withdrawal of stock except
fupon a two-third vote of all Tie stocknol-
ders and no member making application
to wit hdraw stock shall vote upon SAID "p-
plcation. ''' .'i
All profits earned, and all effects of tho
corporation shall first be applied TO the
payment of expenses or inc c9rPorI Sos,
Of the corporation, and second, TO DO dis
.ribut ed pro rata among the stockholders.
ARTICLE VIII. al..a.t.
This chatter may be amended or this
cOrporatiou dissolved by vote or two
! thirds OF the stockholders present OR rep
resented at a meeting OF the stockholders
| written notice shall have been given to
| each oc.holder,or after fifteen days publ
| cation lhe,eofi in ono of tho newspapers of
| ,Lo CITY of Monroe as the President may
elect. "
| Spccial meetings of tho stockholders may
he called by the president, or in his absence,
| bv the secretary anu lre''SHeF, NJ any fii'he
| upon similar notice.
In tho event of he dissolution, or at the
eNpiration ofth;s charter, the liquidation
| of The affairs of the company shall be con.
| 3ucted by two commissioners TO DO elected
| Inv ballot a. IA general meeting of The stock
| holders convened for that purpose. and
| majority of the stockholders present o.
represented shall elect: q "a,
;, |rho commissioners thus elected shall 81
once proceed to settle and wind up the bus
ness of tho corporation, sell, or othewise
| disnose of its assets, and on payment OF lts
liabilities distribute the excess pro rats
among the Stockholders. ..# no..
ARTICLE IN. 's.H. H ~
NJ, s,ocl.holder Of this company shai
eycr be held liable or responsible Tor tht
contracts or faults OF the same in any FUR
thor sum than the unpaid balance due X
tho company on tho stock owned by him
| nor shall any mere inforinality Ill organ
zation have tho effect of rendering thu
charter null. or of exposing any stockhoid
E ers to n liability beyond tho amount OF III
stock. -
Thus done and passed on this slst day o
Decembcr 1888, at the city Of Monroe, LA.
, in tho presence OF $. i. Lewis and X. A
Young competent Witnesses, VINO sigi
tneir names hereun!o, together with tn
n l,ri to this act, and nue., clerk and ee
onicio Recorder and Notary Public.
= j. Il. EDWARDS, .. .
ROBT. McCRARY,
: Attest q. +. McliENIiE.