The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1898-07-23
CHATTER
OF TIE
PROVIDENCE GIN AND IMPROVE.
MENT COMPANY, LIMITED.

State Of houisians, parish Of East Carroll.
= Be Unknown, that on this 29th day of thu
month of June, in the year of our Lord, Ont
Thousand Eight Hundred and Ninety
Eight, before me. W. III. Montgomery. s
Notary Public in and toT the parish of East
| Carroll, State of Louisiana. duly commits
stoned and qualified, and in the presence Of
the witnesses hereinafter named and under
signed, personally came and appeared the
parties whose names are hereunto SUBJ
scribed, all of full age. who declared that
avaling themselves of the provisions of the
laws of this State relative to corporations
and especially of Act No. So OF 1883 of the
General Assembly of Louisiana, they have
coyenanted and agreed and by these pres
ents convenantand agree and bind them
selves as well as such other persons as may
| hereafter become associated with them, to
| form and constitute a corporation and body
polite in law for the purposes and objects
and under the stipulations, articles and
conditions following, to-w;t:
ARTICLE /.
| The name and stille of the said corpora
ton shall be THE PROVIDENCE GIN
AND IMPROVEMENT COMPANY,
LIMITED, and its domcil is hereby
established in the city of providence, parish
OF East Carroll, State of Louisiana, and I'M
der It's said corporate name said corpora
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. ALLEVIATE, convey, sell,
borrow. pledge. mortgage and hypothecate,
under.its said corporate name. property,
real, personal and mixed; to name and APP
point such officers, directors. agents and
managers, OF 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 pe
deemed necessary aud proper, and the same
to change and after at pleasure; and to dc
all other acts and things permitted by law,
or as shall or may be necessary aud proper
to carry out the objects and purposes of
said corporation.
Said corporation, unless sooner dissolved.
in accordance with its charter, shall exist
and continue for the period of ninety nine |
ARTICLE Ill.
The objects and purposes for which this |
corporation is organized, and the nature Of |
the business to be carried Oh by it, are |
declared to be the following, to-wit
The operation of cotton gins. cotton COM |
presses, cotton seed oil mills and grist mils:i
also the lease or purchase of lands. build I
ings, machinery and such other things as
may be necessary for same; also the cree
tion of buildings and the setting up aud |
equipping of all machinery and other things
necessary Cor same; also whatever may be |
usual, necessary and convenient in conduct
ing said business,
ARTICLE III.
The capital stock of the SAID corporation I
shall be One Hundred Thousand Dollars.
divided into and represented by Two
Thousand Shares OF the sum of Fifty Dol
lars each. of which said stock % per cent
twenty-five per centum) shah be paid for
IN cash at the time of subscription and the
remainder at such time or times as may be.
designated by the board of directors. or the
same may be issued at not less than par. in
payment or exchange for property. or
rights actually received or purchased by
said corporation, or the same may be issued,
Mll paid. for. money advanced, and for such
other valuable considerations or services
rs the board OF directors of said corporation
may determine; provided, that no stock /
shall be issued Until the consideration
therefor, has been received by the said cor
ooratIon.
Any stockholders may SELL assign or
transfer his stock Ia this corporation. pro-
yidet. thirty tS9) days prior notice of such
Intention to sell. assign or transfer sthe
same be given the company. and the other
stockholders thereof shall have the first
privilege of purchasing same, after which
thirty l3O) days notice. the said stock may
De sou III open market. |
The stock of said corporation may he
transferred under the above conditions pro-
ylded such transfer thereof be made on The
books OF said company at It's Office in the
city of Providence. and OH surrender of the
certificate therefor.
No transfer of any fractional part of a
share shall be made.
This corporation shall commence dong
business as soon as five thousand dollars of
the capital stock shall have been subscribed
Tor and twenty-five per centum paid there
on.
The board of directors shall have the right
10. determine how much stock shall be
ssued
ARTICLEIy.
The corporate powers of this COMPANY
hall be vested in, and exercised by a board
u I'VE directors consisting of the president,
ilcc president. and 90 three stockholders.
Ibree of said board shall constitute a quo
'um for the transaction OF business and
heir decisions shall be valid corporate acts.
The following persons shall constitute
he first board OF directors: f. J. Hamley.
reside MT: fancey Bell, vice presidents.
Ohm G. Pittman, q. NJ. Franklin and s. w.
ireen.
No person shall be ELIGIBLE as a director.
n an officer who is not stockholder OF this
During the absence of the president. the +.
ice president shall act and preside. The
resident or In his absence the vice presi- )
lent. shall be the proper person upon whom /.
itation or other legal process shall be !,
erved. !
Said board shall continue in Office until :
ne hrst Monday OF July. flS99) eighteen
undred and 0iDety-nine. on which date ,
nd thereafter annually board OF direc-
ors shall be elected on the first Monday in ,
uly OF each year. unless the same should he
holiday. when the election shall be held :
o the next legal day thereafter.
Notice of such election shall be given tol
ach stockhelder by the secretary in writ I