The weekly Thibodaux sentinel and journal of the 8th Senatorial District. [volume] (Thibodaux, Lna. [i.e. La.]) 1875-1898, 1894-06-16

DrsING CoMPANY, LIMITED" fss domi.
cile shall be 10 the town Of THiBODAU1.
Parish ofLAFOURCHE. state OF LOuISlANA,
and Il shall enjoy succession By its co[po.
rate name fer the period of Ninety nine
years from and aieer' this date, unless dis
solved In the manner hereinafter provided.
IL shall commence operation at once. The
oficer upon whom citations and other legal
process shall be served, aud in the event
that the President is absent or is unable for
any reason to act, the sumo shall be served
| on the Vice. President.
ARTICLE II.
The objects and purposes for which this
corporation H. organized and the nature OF
by declared to be the carrying on OF a gem
eral merchandise business: and it shall
have the power and authority t., hold, pur-
chase, sell, convey, pledge, mortgage or
sued, make and use, IL it see necessary, a cor
| poFate seal. And it shall have authority
vote OF the Board OF Directors 70 issue and
draw prOmisOry notes and bills OF exchange.
ARTICLE Ill.
The capital stock of this corporation Is
hereby declared to be the sum OF TEN
THOUSAND DOLLARS. divided into and
HUNDRED DOLLARS each, to be psid for as
Yellowstone quarter or more OF the sub.
scription to be paid at the time Of subscrip-
ton and the remainder within sixty days at
ter the subscription. The parties to this
Act have subscribed to the stock of this cor
poration as follows-Mrs. TheOnise ROus-
paid the full value thereof, Five Thousand
Dollars; A. .. Duffy, to Ten shares, ON which
has been paid the sum OF Seven Hundre
and Fifty Dollars; N. Duffy. to Five shares,
Hundred and Fifty Dollars; Richard Con-
don, to Zen shares on which has been paid
the sum OF Two Hundred and Fifty Dollars.
ARTICLE Nv.
! The business and affairs of this CORPORA
ton shall be managed and directed by a
Board of Three Directors who shall be stock
holders. a majority Of whom shall constitute
a,quorum to do business, and the said Board
shall be elected annually on the first o
day OF January of each year commencing
with the first Monday of January of the year
1895. The first Board OF Directors OF this
company shall be composed OF A. o. Duffy,
President; Richard Condor, Vice-President;
and N. Duffy, who shall hold Office until the
first Monday OF January 1895, or until their
successors shall have been elected and quail
flied, and Immediately upon organization
the present Board as well as all future
Boards shall proceed to elect and choose
either from the stockholders or otherwise a
Secretary and Treasurer.
The Board OF Directors shall maxi all by
laws, rules and regulations for the transac-
tiOn of the business OF the Company, and al
ter and amend the same at pleasure. It
shall have the power to transact all the bus
mess of this corporation and each of the
Directors in his said capacity may vote
either in person or by his duly authorized
attorney in fact.
ARTICLE v.
All elections far the officers and the Direc-
tors of this cOmOany shall be by ballot and
held in the office Ut the company before
q ~stOckhOlder, and who shall be appointed
by the BOARD of Directors on or before the
day OF the said election. Each share of stock
shall ha nntttlnd fn nn0 Unfn IN hA nock ~
the owner either in person or by his duly
authorized agent and q majority of the
shares of stock paid up shall be required to
elect.
In default of a choice in such election the
Directors then in Office shall hold over un-
il he next annual election. Vacancies in
he Board of Directors shall be filed by the
EN- aiming Directors.
ARTICLE vi.
This Act of Incorporation may be changed
modified or altered or this corporation dis
solved by a vote Of three fourths Of the paid
meeting Of the stockholders for the purpose.
And when the time for the liquidation Of the
affairs Of this corporation shall arrive, the
missioners whose duties it shall be to liqui-
date and wind up the affairs Of the compa.
ny; sell its property, pay its debts, and di.
Three-fourths Of the number OF the shares
fully paid Up, shall have the right at time
to demand the liquidation Of the affairs Of this
Ompany arc Wnen Cney snail nave so OOn6
the Board of Directors shall appoint the IL
Quidating commissioners as provided for in /
this article. should the Board of Directors
refuse or fail to appoint the commissioner :
for liquidation as hereinbefore provided,
then the said commissioners shall be ap-
pointed by the District Judge Of the Parish
of LafOurche. +;
ARTICLE VII.
The Board shall have the right to issue
certificates of stock to each Of the stock !
holders, the same to be signed by the Pres :
ident and Secretary. The shares of the
stock OF this company shall be transferable
for the purpose. No transfer of the stock
shall be made except upon the written au-
thOrity OF the owner or his duly authorized
agent, and no transfer shall be made OF any
stock to any person not already a stOckhol-
der until the came shall have been previous
ly offered to the other stockholders by writ |
one week previous to the transfer, and
shall have been refused or not accepted by
them. The offer to sell must name the price
for which. the terms on which, Ond the per-
son to whom It Is proposed to sell.
ARTICLE VIII.
T Board of Directors shall provide by
rules and regulations for the division OF the
profits, and shall have the right to employ
deem At whose salaries shall be fixed by
them.
ARTICLE TX.
No stakeholder shall ever be held for any
OF the debts or liabilities of his corporation
beyond the unpaid balance due on bis stock.
No infOrInality in the drawing up of this
charter or OF the organization OF this com
pany shall have the effect of rendering null
this charter, or of exposing q stOckholder
to any liability beyond the amount OF his
stock.
And it is understood and provided that
any Of the powers granted this company by
ARTICLE III, OF the charter or elsewhere
shall be exercised by the Board Of Direc-
tors through their President and Secretary
duly authorized for said purpose by q reso.
luton of the Board
THUS DONE. PASSED and SIGNED at
THIBOCAUX, Parish of LAFOURCHE, State
! OF LOUISIANA. on ills 18th daY OF Nav A II