The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1889-10-19
mo. 49,.
ures or other bonds, and to do a general
printing and publishing business
ARTICLEV.

ures OF other bonds, and to do a general
printing and publishing business.
ARTICLEv.
The capital stock of this corporation Ia
hereby fixed at the sum Of one hundred
thousand dollars ($lO0, OOO), divided into
two thousand (20O0) shares Of fifty dollars
(s50) each, with liberty to commence
operations whenever five thousand dollars
($5UO0) of the capital stock shall have
been subscribed. No stockholdsr shall
ever be held liable or responsible for the
contracts or faults of this corporation in
further sum than the unpaid balance due
on tho shares of stock held by him. nor
shall any mere informality in the organi-
cation have the effect of rendering this
charter null or exposing . stakeholder "
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 sub ordinate
Farmers Unions holding charters from,
tue State Farmers Union of Louisiana.
and not from individuals. and applications
for shares nust he accompanied by tweu-
ty-fivs per cent in cash Of the amount Of
stock subscribed. the balance to he paid
within one year from the date of applica-
ton, when certificates OF stock shall bo
iss ued in the name Of the trustee stock
holder as soon Al the full amount sub
scribed for shall be paid up.
ARTICLE VII.
Each subordinate Farmers Union sub
scribing for stock shall be entitled to one
trustee stockhslier who shall be the rep-
resentative 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
sclibed for the faithful performance Of his
duty. The first trustee stockholder shall
be elected by 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, aud thereafter
the trustee stakeholder shall be elected by
the subordinate union annually 1T the
time of the regular election of officers.
ARTICLE VIII.
All the corporate powers of this corpor-
alton shall be vested in aud 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 stockh0lder 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. aud en- the
first Wednesday thereafter in July Of each
year, which shall be their regular annual
meeting, shall elect president. vice presi-
dent, secretary and treasurer. aud shall
appoint from time to time, and dismiss ct
<1s.sr mil ,ok IL s1~ -
and employees as may be deemed necessary
for the business and purpose of this asso-
citation. and fix their remuneration, and
fix and establish a. we'll as annul and alter
all by laws, 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
to pay all operating expenses second to
pay ten per cent per ahnum interest on
the amount of the paid up capital stock.
the balance Of profits, If any, shall be d.
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 said board
convened for such purposes after thirty
(3') days notice of such notice shall have
been given by advertisement in the Collar
in the parish.
ARTICLE XII.
Whenever this corporation may be dis
solved, either by limitation of its charter.
or from any cause its affairs shall be liqui-
dated by three (3) commissioners TO he ap-
pointed by the trustee stockholders at y
general meeting called for the purpose.
Said commissioners shall remain ic Of
flee until the affairs OF laid corporation
shall have been liquidatcd, and in case Of
the death If one or more of said commis-
the said survivors or survivor shall
continue to act until others may be APP
pointed 20 flI vacancies, and tue trustee
shall call meeting immedi-
ately for the purpose Of filing such va
cancy or vacancies.
Thus done and passed before me notary
ut colfax, La. in tho presence of II. g.
Goodwin and J. p Lewis competent wit
liesses. who hereunto subscribe their names
with said parties aud me notary on the
day. month aud year in the caption hereof
set forth.
G. W. BRUCE. D. P. MORRIS.
q. C. WALTON X. 3. CAMERON.
per pro W. D. Irwin, per pro w. D. Irwin,
5. Il. LEE, JR., M. KEGS.
per pro w. d. Irwin. per pro W. d. Irwin.
Ai i. q. GOODWIN.
J. p. LEWIS.
fSEAL.I ANDREW THORPE.
Notary Public in and for Grant Parish. La
/, the undersigned, clerk and ex-ofIicie
recorder Of MORTGAGES in and FOR the parish
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