The weekly Thibodaux sentinel and journal of the 8th Senatorial District. [volume] (Thibodaux, Lna. [i.e. La.]) 1875-1898, 1889-04-20

ARTICLE FIFTH.
The said corporation shall have the right
90 make and use . ommon seal, to sue and
ne saed iega! process shall be served ON
the president and in the event Of his absence
from the parish where the Corporation 10
domiciled, upon the secretary. The said Cor
vcy, and mortgage, real and personal estate,
n shall have corporate existence for the
term and period Of ninety-nine years from
ana after the date Of this Act.
ARTICLE SIXTH.
The Board OF Directors shall have power to
generally supervise the business of the Cor.
poratton. to adopt general rules for its con-
uuct, TO contract for the purchase OF machine
OF the corporation, to hx the price OF all cane
or syrup bought, and the charge for granu-
iatlng 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-
nnIng by. general rules the expenses OF the
ance or superintendent as may be necessary
TO carry out the executive business OF the
corporation 1t shall have power, by unani-
nous vote, to mortgage or pledge the proper
ty, plant or effects OF the Corporation. as the
case may be. Three 60 members of the Board
snail constitute a quorum for the transaction
~ AL OuI IN DuSlleSH. OIueT lUdu Ii
regular administrative business of the Cor
poration, shall be conducted by the Board ut
olner 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 ut the meeting OF the
board and participate therein, either in per-
son or by proxy. No person shall be quail
ned TO be a Director of this Corporation, I'M
less ne shall own eighteen t1S) shares of the
Capital Stock.
ARTICLE SEVENTH.
The president shall have general superyi-
sion over the administrative affairs Of the
corporation he shall preside ut the meet
ings or 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
me treasurer shall be the custodian of the
funds OF the Corporation and the discussing
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
De 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 rOper for their demands nor shall
any mere infOrinality in organization have
the effect OF rendering this Charter null or
exposing any stakeholder to any liability be-
yond tn amount Of his subscription.
ARTICLE NINTH.
The revenues of this CORPORATION at the end
of each year, after the paymen 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
the stockholders. This pro rata distribution
shall. however, be subject to the following
exception The Board shall enter into "a con-
tract WIth II non~vo n%r 1N-n:r 100000
to.wit: with the planting firm of TROSCLAIR
y with the planting firm Of
LFEERT MoRyAST. and f: d. WHITE. by
aforesaid, shall become participants in the
profits of the Corporation, upon the basis Of
syrup furnished by the said firm and sub
extent, the said parties shall be participants
in the profits on said syrup. The object of
this stipulation being to make the said par
pant in the profits of the Corporation. The
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.
g. ARTICLE TENTH. K rs
At all meetings of the stockholders, a ma
jofity shall constitute a quorum.
:. ARTICLE ELEVENTH. r.
It shah not be lawful for any stakeholder
to dispose OF any share or shares of the Capt..
s%A NV VI &AiS MI AotioAs 0tNllouG uIS
ohering his shares or share to the said Cor
pOratiOn, and giving it the preference OF pur-
chasing the same mt 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 or
shares be authorized to be made upon the
books OF this Corporation.
ARTICLE TWELFTH.
No transfer of stock OF any stakeholder
shall be valid, as long as he Is indebted unto
the Corporation; and the Corporation shall
nave a lien upon the stock of each STOCKHOLM.
er, for any debt due by him, or the firm Of
transferred except upon the books of the
Company, and no transfer shall be binding.
unless entered upon the books of the Corpo.
ration.
ARTICLE THIRTEENTH.
This Charter shall not be dissolved, altered
or amended, except by the unanimous con.
sent OF the stockholders.
ARTICLE FOURTEENTH.
Whenever this Corporation is dissolved.
either by limitation OF it's Charter or from
any other cause, its affairs shall be liquidat.
ed by three commissioners to be appointed
meeting thereof, convened, after ten (lOl
days prior notice to the stockholders. Nv
letter to their address, and by publication in
one Of the ~ewspapers published in Thibo-
liquidating commissioners shall remain in
Office until their functions are fully discharg.
ed. The said liquidation shall not extend for
vacancies in their number to be filled by 4
meeting of the stockholders to be called for
that purpose.
ARTICLE FIFTEENTH.
The Capital Stock of said Corporation here.
inab0ve referred to, is subscribed as follows:
Want, thirty.six. (se, shares Of Five
Hundred Dollars (S5OO) each sls. OOO
The planting firm of ~TROsCLAIR L RO-