The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1896-06-06
CHARTER.
STATE OF LOUISIANA, PARISH OF
EAST CARROLL.

d lSe6. before me, w. ii. Montgomery,
a Notary Public for parish and state alore-
said, came and appeared the seVerai per
sons whose names are hereto subscribed,
who in the presence of the undersigned
witnesses. seyerally declared that awaiting
themselves of the law relative to Corpor-
atoms, they do hereby contract, bind,
agree and obIigate themselves, as wen rs
such other persons as may nereaiteF pc
come associated with'them, to form an con-
stitute body polite in law tor The objects
and purposes and under the agreements
and stipulations hereinafter set out, to-Wlt'
ARTICLE 1.
The name and title of this corporation
shall he TIE PEOPLES COTTON GIN COM
PANY. LIMITED; under which name ana
title the said Corporation shall nave power
to exist for fifty years, to sue and be SUED
| TO make and use q corporate seal, ana TO
| break or change same at pleasure. same TO
| he DESIGNATED by the Board of Directors
| to purchase, lease own, sell, mortgage and
| pIedre real estate and personal property
| TO arjpoint such managers and agents as the
! business OF the Corporation may deihahu'
and generally to do all sucn acts anu
| things necessary and convenient for car
| rying out the objects OF this corporation
| as hereinafter stated.
ARTICLE II.
| The domicile OF this Corporation shall be
in the town of Providence, East Carroll
parish, Louisiana, and all citations or other
legal processes shall be served on the fresi-
| dent, aud IN his absence, on the secretary.
| ARTICLE Ill.
The purpose for which this Corporation
| ia Established and the business TO be car
| RED on by it is operating a PUBLIC COTTON
GIN AND GRIST MILL IN the parish aiore,
said and the lease or purchase OF the lahq
necessary for same; and the purchase ana
| nfa al
machinery for same and the construction
for lease of such buildings near the gin site
| as can be leased TO advantage; togetner
with the general power to do all things
necessary and convenient IN conducting
said business.
ARTICLE w.
The capitai stock of this Corporation is
hereby fixed at Ten Thousand Dollars
$50 .OtlOl divided into and represented by
TWO Hundred Shares OF Fifty Dollars each
The number OF shares to be subscribed foI
organization shall be thirty (30), and as
soon as that number shall have been sup.
scrlbed and paid in full, the Company shaii
organize and commence business. NO GER
titicate of stock shall be issued until the
! same shall have been fully paid tor in cash
or property. The stock shall be evidenced
nv such certificates issued and signed
bv such officers as the Board OF Dl
rectors may designate and shall pc trans
ferrable only on the books OF the company
No transfer OF stock shall be valid or bind
ing unless and until same shall have peer
made and entered on its books. No share
, holder his heirs, representatives, OF
assigns, shall sell or dispose OF stock heie
| by him in this Corporation until the same
shall have been rendered to the remai 20
a Stockholders in writing through the ofncel
designated by the BYLAWS OF said Corpor
:. alton to receive such tender, who are u
have am option on said stock at the marke
price Tor a period of fifteen days. IN
8 bylaws shall be adopted By the Board Q
Directors al their first meeting after tnl'
J, said Corporation shall have been organ
t lied.
a p = ARTICLE v.
The corporate powers of this Compan.
shallf,e vested in Board of Directors t
be composed of three stockholders. III
l. first Board of Directors shall be chosen a
. hereafter provided. on the. End Monday i
- NAV. 1897 Frior to that time tue Doard
Il directors shall be composed as hereinafte
Stated On the second Monday OF Ma
u Of each YEAR, general meeting OF Tn
Il stockholders of said Corporation shall D
!. held and thereat shall be elected three VI
u reetors for the ensuing year, after nteee
DAYS written notice served on each oil IN
Eshare holders by the secretary OF this Coz
!. f,oration. At all elections majority oil ~
Votes cast shall elect, and each share hoide
" shall he entitled to cast either in person Q
= nv proxy one vote tor each share Of stoc
IL held bv him. but not to vote Oh any shal
b of stack transferred to him within invent
DAYS prior to an election. All Director
10 both those appointed in this charter an
m those hereinafter elected, shall hold ONO
until their successors arc elected and II
ducte,l into office. In case OF failure
- elect officers on the day hereinabove nKe
!. or on such day as said annual meeting sna
have been regularly adjourned to, tnis co
,e poration shall not be thereby dissolve.
To but the three Directors shall continue !
Office and a new election shall he held 10
90 proceeded by fifteen days notice as apo'
90 provided.
90 ARTICLE VI.
w Until the first election to be held und
W this charter as hereinaboye provided u
W following named persons shall serve
~ Directors, to-wit:
W Jos. r. Rasdell as President.
w Jas. s, Mlllikin as Vice President
W Ed j. Hamley as Secretary aud Treasure
W Said Directors shall serve and no
w Office uutll their successors shall have he'
" elected and qualified at the hrst annu
w meeting of the share holders as above pl
w yided. In case Of vacancy rom deal
- resignation or otherwise, the said Board
W Directors shall elect a successor.
ARTICLE VII
The Board Of Directors shall, at their d