The Meridional. (Abbeville, La.) 1856-1906, 1901-02-09
CHARTER
OF THE
ARREVILLE CANAL COMPANY.
OF THE

United States Of America-State OF
Lonisiana.-Parish OF Vermilion.
Be il known that on this 10th OF
December in the year of our Lord One
Thousand Nine Hundred, and OF the
Independence of the United States OF
America. the One Hundred and Twenty
fifth. before me Geo. w. Summers a
Notary Public duly commissioned and
qualified, in and for the parish OF YER
million, State of Louisiana, and IN the
preaence Of the witnesses hereinafter
na,;,ed and undersigned, personally
came and appeared the several persons
whose names are hereunto subscribed,
who severally declared that awaiting
themseleves of the provisions ofthe laws
of this state, relative to the organiza-
ton of corporations theyhave contract
ed and agreed, and do by these pres,
ents, contract and agree and olnd ana
ohlicate themselves, as well as all other
persons as may become associated with
them. to form themselves'into and con-
stitute a corporation and body corpo-
rate in law, for the objects and pur
noses and under theaconditions ,stlputa-
tions and Articles following, to@wlt:
ARTICLE FIRST.
Tbeename and itle.o said corpora
ton shall be the Abbeville Canal Com
nany and under its said cooperate name,
It shallFhave power and authority 10
exist and enjoy succession for the Saii
term and period of ninety nine years
from and after date hereof; to contract,
n and be sued; to make and use a cor
norate seal and the same to break and
alter at pleasure; to purchase, receive,
lease. hold and convey ,as well as mort
gage and h~ypothecate under It's corpo-
rate name, property, both real and per-
senat; to name and appoint sucn nan
ayers and directors, officers and agents
az the interest and convenience OF SAID
corporstion may require; and to make
and establish as well as alter and amend
at Measure. such BY -laws, rules and
regulations for the proper management
and regulations of the affairs OF SAID
corporation as may be necessary and
proper.
ARTICLE SECOND.
The domicile of said corporation
shall be in the town of Abbeville, State
Of Louisiana, and all citations or other
legal process shall be served upon the
President of said Corporation, or IN
case of his absence, on the vice
President; or in case of his absence,
the Secretary Of the Corporation.
ARTICLE THIRD.
The objects and purposes for which
this CORPORATION 10 established and the
nature OF the business to be carried on;
are declared and specified to be:
TO buy, sell, hold, reclaim, develop.
improve, build upon, irrigate and cul-
tivate lands; to rent to tenants ana TO
other persons; TO build, purchase, lease
and operate rice mills and warehouses;
to purchase, construct. own, lease ana
onerate canals in the state Of Louisiana,
co he used for irrigating lands, or for
transportation Of products and mer-
chandise, or for both; to furnish water
for irrigating purposes and to charge
and collect tolls therefor in money OF
CROPS or otherwise; to buy, sell, store,
ship, forward and handle rice and other
agricultural products, and to acquire
canals and canal property or interest
therein, whether represented oy stock
or otherwise; and to do any and all
such acts and things as may or shall be
necessary and proper to carry out sad
objects and purposes.
ARTICLE FOURTH.
The capital stock of this corporation
shall be FIVE hundred thousand $685.
OO0) dollars, but the corporation shall
be entitled to organize and begin 6usi-
ness when forty five thousand dollars
GAS, 000) of said capital stock shall
have been subscribed and paid IN as
follows: Fifteen per cent December
18th 1900; twenty -iVe per centJannary
lst, 1901; and sixty per cent March LIST,
1901. The remaining four hundred and
ffty-five thousand ($455, 000) shall be
issued only on a resolution passed by
three fourths of all the directors or the
company, at a meeting called to on
slider the issuance after ten days full
notice to all the directors. When said
additional stock shall be issued it shall
be first offered to the then owners ofthe
stock of the company in the same pro-
portion in which they each own the
existing stock, Each shareholder
shall have ten days to decide whether
he will or will not take his proportion
of the additional stock, and if he does
not both take and pay for the same il
ten days after the notice Of the allot'
ment to him, he shall be ~conclusively
presumed to have refused to take thu
same, and the amount allotted to hin
shall then be reallotted to the othel