The Lafayette advertiser. [volume] (Vermilionville [i.e. Lafayette], La.) 1865-19??, 1896-07-11
No. 1881.
CHARTER
OF the Peoples Cotton Oil Co l. I'd
of Lafayette, La
UNITED STATES OF AMERICA
STATE OF LOUISIANA, PARISH OF
LAFAYETTE,

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BE it known that on this twentieth
day of the month of June "Anno Domi-
nj One Thousand Eight Hundred and
Ninety Six and of the Independence of
the United States of America the One
hundred and twentieth, before me Ed.
G. VOorhies, Clerk of Court and ex.
of1cio Notary Public, in and for said
parish and State, as such duly commits
stoned and qualified, and in the presence
of the witnesses hereinafter named and
undersigned: Personally came and ap-
peared the several persons whose names
are hereunto subscribed who declared,
That availing themselves of the provisions
of the law of this State relative to the
formation of Corporations they do by
these presents, covenant and agree and
bind themselves and those whom they re-
present and those who may hereafter be-
come associated with them. to. form and
constitute corporation and body polite
in law for the purpose anG under the
agreements and stipulations following.
ARTICLE I. The name and little of
this corporation shall be Peoples Cotton
Oil Company, Limited. Its domicile and
place for doing business shall be in the
parish of Lafayette State of Louisiana.
and it's capital stock shall be Fifty
Thousand Dollars divided into five hun
dred shares of One hundred dollars each:
The appearers being shareholders and
their places Of residence, and the mum.
her Of shares held by each of them res.
pectively. being set opposite their names,
which said shares are to be paid for in
instalimente of not more than twenty per
cent every sixty days beginning with the
fret payment on the first day of August
Eighteen hundred and ninety .six, sub ject
to the call Of the Board Of Directors.
ARTICLE II. Said corporation shall
commence its existence from the date of
these presents and shall continue for a
period Of Ninety nine years and by it's
corporate name may sue and be sued
plead and be impleaded appear answer
and prosecute in any and all courts of
justice here and elsewhere. The presi-
dent Of this corporation shall be the of.
ficer on whom citation may be served,
and in his absence on the vice president.
ARTICLE III. This corporation IS or
ganized for the purpose of erecting and
operating Cotton Oil Mil! for the man.
ufactrre of Oil, and all other products
from cotton seed, and conducting and
operating all businesses incidental there
to. Said corporation shall also have
power to acquire, hold, receive, purchase
and convey by and under their corporate
name real and personal property, said
corporation shall have power through its
board of Directors to pledge mortgage or
hyrothecate its real and personal proper
ty for the purposes Of its business.
ARTICLE w. Said corporation shall
be managed by board of Nine Directors
who shall be citizens of this State and
actual stockholders Of said corporation
to be elected by ballot on first Tuesday
of June of each year and said board shall
hold Office for one year or until their sue
cessors are duly elected and qualified.
All elections shall. be conducted under
the supervision of three stockholders to
be appointed by the board of directors
for that purpose and in case of any one
Of said commissioners of elections declin-
ing or failing TO act, the president shall
appoint another to I'll his place. The
nine persons receiving the highest num-
Der of votes shall be declared elected. In
case Of a tie between anytwO or more
among the number exceeding nine receiv-
wing the highest number of votes. then
the tie shall be determined by casting
lots. The said board of directors shall
elect from their number president and
vice president who shall serve without
salary and from the other stockholders
secretary who shall be book keeper, q
treasurer and general manager whose
salaries shall be fixed by the board of d.
rectors. The board of directors shall
have power to fll vacancies occurring on
the board.
ARTICLE The said board of d.
rectors shall make and Ordain such by
laws for the proper management Of the
corporation, as may be peeessaTy and
proper in conformity with law and such
bylaws to alter amend or repeal at pleas
ure. They may adopt for the use of the
corporation seal of such device as they
NAV deem fit and appropriate.
ARTICLE vi. The names of the