The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1898-07-09
CHARTER
OF TIE
PROVIDENCE GIN AND IMPROVE
MENT COMPANY, LIMITED.


Stese Of nouisiona, parish Of East Carroll.
Be il known, that on this Goth day of th,
i month ofJune. In the year of our Lord. On,
Thousand Eight Hundred and Ninety
Eight. before me. w. II. Montgomery,
Notary Public in and for the parish of Eas
Carroll, State of Louisiana, duly commits
stoned and qualified, and in the presence O.
| the witnesses hereinafter named and under
signed, personally came and appeared the
parties whose names are hereunto sub.
scribed, all of full age. who declared that
| awaiting themselves of the provisions of the
of this State relative to corporations
| and especially ofAct No. SO OF 1883 of the
General Assembly of Louisiana they have
coyenanted and agreed and by these pres.
ents conyenant and agree and bind them
| selves as well as such other persons as may
hereafter become associated with them, to
form and constitute corporation and body
polite In law for the purposes and objects
and under the stipulations, articles and
conditions following, to-wit:
ARTICLEI.
The name and'stille of the said corpora
ton shall be THE PROVIDENCE GIN
AND IMPROVEMENT COMPANY,
LIMITED, and its domicil is hereby
established in the city ofProvldence, parish
OF East Carroll, State of Louisiana, and un.
uei It's saiu cOTpOTuLc name EalQ corpora
ton shall have power and authority to con-
tract. sue and be sued; to make and use a
corporate seal and the same to break and
alter at pleasure; to hold. receive, have,
purchase, Improve. aleniate. convey, sell.
borrow, pledge. mortgage aud hypothecate,
under its said corporate name, property,
real. personal and mixed; to name and APP
point such officers, directors, agents and
managers, or employees as the interest or
convenience Of said corporation may re-
quire; to make and establish bylaws, rules
and regulations for the proper management
and regulation of its affairs, as may DE
deemed necessary and proper, and the same
to change and alter at pleasure; and to do
all other acts and things permitted by law. |
or rs shall or may be necessary and proper |
to carry out the objects and purposes of
sa.d corporation.
Said corporation, unless sooner dissolved. |
In accordance with its charter, shall exist |
and continue for the period of ninety-nine |
years from and after the date hereof.
ARTICLE Ii.
The objects and purposes for which this
is organized, and the nature OF |
ne business to De carried Cd by 1t, are
The operation of cotton gins. cotton COM
presses, cotton seed oil mills and grist mills;
also the lease or purchase of lands build
ngs. machinery and such other things as
nay be necessary for same; also the cree
ion of buildings and the setting ur and
OF ali machinery and other things
necessary Tor same; also whatever may be
Usual, necessary and convenient in conduct
ng said business,
ARTICLE III.
The capital stock of the said corporation
hall be One Hundred Thousand Dollars.
livIded into and represented by Two
Thousand Shares of the sum of Fifty Dol
ars each of which said stock % per cent
twenty-five per century shall be paid for
n cash at the time of subscription and the
emainder at such time or times as may be
designated by the board of directors, or the
anne may be issued at not less than par, in
,ayMent or exchange for property. or
lights actually received or purchased by
AID corporation, or the same may be issued.
tIa paid, for money advanced, and for such
Their valuable considerations or services
the board of directors of said corporation
nay determine; provided, that no stock ,
ball be issued until the consideration
herefor, has been received by the said cor ,
Grafton.
Any stockholders may sell. assign. or :
ransfer his stock in this corporation, pro- :
ided. thirty (30) days prior notice of such
ltention to sell, assign or transfer :the
thereof shall have the first i
rivilege of purchasing same, after which
llrty (30) days notice. the said stock nav q
e sold In open market.
The stock Of said corporation may be
.ansferred under the above conditions pro-
loed such transfer thereof be made on the
ooks Of said company at its Office in the 6
ty OF Providence. and on surrender of the C
,rtificate therefor. q
No transfer of any fractional part of a p
lare sh Ill be made. O
This corporation shall commence doing t
lsiness as soon as five thousand dollars Of e
'e capital stock Shall have been subscribed 8
: ana twenty-five per centum paid there p
The board of directors shall have the right G
determine how much stock shall be i
sued. ii
ARTICLEIv.
fhe corporate powers OF this company 81
all De vested in, and exercised by a board o.
nye directors consisting of the president. q,
&c president, and 81 three stockholders. j
lree OF said board shall constitute a quo 10
m Ior the transaction OF business and j,
cir decisions shall be valid corporate acts. ].
me following persons shall constitute q
9 nrst board OF directors: E. j. Hamley.
esldt mt; 1ancey Bell, vice presidents.
hn 9. Pittman, q. NJ. Franklin and 5. w. A
zen. ~
No person shall be ELIGIBLE as a director. y
an omcer VINO Is not stakeholder OF this
During the absence of the president, the te
,e president shall act and preside. The q,
esident or in his absence the vice presi. on
ut: shall be the proper person upon whom ~
we'd. 10
said board shall continue In Office unit, %
nrst Monday Of July, QS99) eighteen
1dred and ninety-nine, on which date n,
thereafter annually, a board of direc.
. Shall be elected on the first Monday in T..
y OF each year, unless the same should he =
onoay, when the election shall be held n,
the next legal day thereafter. VI
lotice of such election shall be given to ar
u stockhelder by the secretary in writ -.
at least ten days prior to each election. VA
the board of directors shall appoint an