The weekly Thibodaux sentinel and journal of the 8th Senatorial District. [volume] (Thibodaux, Lna. [i.e. La.]) 1875-1898, 1894-06-23

DIsISG COMPANY. LIMITED It, domI-
ellie shall be in the town of TH1BODAJA
Parish Of LAF3URCHE, state OF L0CIsIASA-
and il shall enjoy succession By its corp0-
rate name fer the period OF Ninety nine
years from and after this date. unless dis
solved in the manner hereinafter provided
II shall commence operation at once. III
President il hereby declared 20 be the legal
officer upon " hom citations and other legal
process shall be served. aud in the event
that the President is absent or l. unable for
any reason tn act. the same shall be >eFytG
on the Vice President.
ARTICLE IL
The objects and purposes for which this
corporation j.. organized and the natur- Of
the business T.. }r carried on IN il are here
by declared IL H. the carrying an 81 Il gen
eral merchandise business and Il shall
have the power and authority - hold. puT-
chase. sell, convey pledge. mortgage or
lease property r-a or personal. sue and be
sued, make and use. il it see necessary acor-
porate seal. An,: il shall nave authority
through its President and Secretary on a
vote OF the Board Of Directors 70 issue ana
draw promisory notes and bills OF exchange
ARTICLE III.
The capital stock OF this corporation Is
hereby declared to be the sum ~ TEN
THOUSAND DOLLARS. divided into and
represented by one hundred share of ONE
HUNDRED DOLLARS each, TO be paid for a.
Yellowstone quarter or more of the sub
Scriptlon TO be paid at the time of >uDScrlp-
ton and the remainder within sixty days af-
ter the subscription. The parties To this
Act have subscribed TO the stock Of thls cor
poration as foilows-Mr-. Theooise Rou~-
sean, to Fifty shares on which has been
paid the full value thereof. Five Thousand
Dollars; A. q. Duffy, TO Ten shares, on which
has been paid the sum Of Seven Hundred
and Fifty Dollars \. DUFFY. TO Five shares,
on watch has been paid the sum OF Two
Hundred and Fifty Dollars; Richard Con
don. to Ten shares on which ha- been paid
the sum Of Two Hundred and Fifty Dollars.
ARTICLE ".
TIE business and affairs Of this corpora
ton shall be managed and directed by a
Board of Three Directors " no 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 Mon
day Of January Of each year commencing
with the nrst Monday of January of the year
1sE. The first Board of Directors OF this
company shall be composed OF A. @. Duffy
President. Richard Condor. Nice-President
and y. Duffy. who shall hold Office until the
first Monday of January l95, or until their
successors Shall have been elected anc quail
ife6. and Immediately upon organization
the present Board as well as all future
Boards shall proceed to elect and choose
either from the stockhelders or otherwise a
Secretary and Treasurer.
The Board of Directors shall make all by
laws. rules and regulations for the transac-
ton Of the business Of the Company. and al
ter and amend the same at pleasure. 1t
hall have the power to transact all the bus
mess Of this corporation and each of the
Directors in his said capacity may vote
1890 - = 80 10y $500
attorney in fact
ARTICLE y.
All elections far the officers and the Direc-
tors of this comoany shall be by ballot and
held in the Office of the company before
three commissioners each Of whom shall be
a sfockholder, and who shall be appointed
by the Board of Directors on or before the
dav of the said election. Each share of stock
shall be entitled TO one vote to be cast ~
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 bold over un-
il he next annual election. Vacancies in
he Board of Directors shall be filled by the
EN- amin Directors.
ARTICLE VI.
This Act of Incorporation NAV be changed
modified or altered or this corporation dis
solved by a vote of three fourths of the paid
up stock present or represented at any
meeting of the stockholders for the purpose.
And when the time for the liquidation OF the
affairs of this corporation shall arrive, the
Board OF Directors shall appoint three com
missioners whose duties ii shall be to liqui-
date and wind up the affairs of the compa-
ny. sell its property, pay its debts, and di-
vide its assets among the stockholders.
Three fourths of the number OF the shares
fully paid up, shall the right at any time
todemand the liguidation of the affairs of this
company ar q when they shall have so lone
the Board of Directors shall appoint the Ii
quidating commissioners a provided for in
I'M. article SilostA IL DbdEa bl DiE-tIDEs
refuse or fail to appoint the commissioners
for liquidation as hereinbefore provided,
then the said commissioners shall be APP
pointed by the District Judge u the Parish
of Lafourche.
ARTICLE VII.
The Board shall have the right 10 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 conIpany shall be transferable
only on the books Of the company to be kept
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 etockhol-
der until the same shall have been previous
IL offered to the other stockholders by writ
t.n offer made to the President for at least
one week previous 10 the transfer. and
shall have been refused or not accepted by
them. The offer to sell must narue the price
for which. the terms on which. ond the per
son to whom it i proposed to sell
ARTICLE VIII.
The Board of Directors shall provide BY
rules and regulations for the division of the
profits, and shall have the right to employ
such agents and employees a. they shall
deem fit whose salaries shall be fixed by
them.
ARTICLE TX.
No stakeholder shall ever be held for any
of the debts or liabilities Of this corporation
beyond tie unpaid balance due on his stock.
No informally in the drawing up CT this
cndrtef or OF the organization OF this com
pany shall have the effect of rendering null
this charter. or of exposing a s~tockholder
TO any liability beyond the amount of his
stock.
And il is understood and provided that
any Of the powers granted this company BY
ARTICLE ii, of the charter or elsewhere
shall be exercised by the Board Of Direc-
tors through their President and Secretary
duly authorized fer said purpose by a reso-
luton of the Board
THUS DONE. ASSET and SIGNED at
~THIBoGAUX, Parish If L.AFoJRCHE, State