The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1901-12-19
Charter of the
BENTON MERCANTILE COM
PANY, LIMITED.

ally appeared the undersigned parties, all
residents of the Parish of Bossier, La,
who declared severally that they do
hereby form and organize themselves,
their associates and successors into a
corporation for the purpose OF doing a
General Mercantile Business, wholesale
or retail, in the town of Benton, said
Parish and State, including the purchase
of all kinds of dry goods, shoes, hats,
furnishing goods, furniture,
grain, hay, hardware, and all
kinds of plantation supplies and all other
generally bought and sold in such
and to purchase such
articles, either in bulk or detail from
other mercantile concerns, including
purchase of stock and assets OF such
other establishments, or the purchase in
the usual course of trade OF such goods
and property, and the resale OF such
purchases into cash or its equivalent;
also to buy, barter and sell cotton, cotton
seed, corn, and other farm products, &c.,
for the term of twenty-fiv years from
the date of this act, under the following
articles, to-wit:
ARTICLE 1.
The name and style of CHS corporation
shall be the "BENTON MERCANTILE
COMPANY, LIMITED" and its dom
icile in Benton, Louisiana, and under
it's corporate name it shall have power
to contract, sue and be sued; to acquire
property, real, personal and mixed, and
to pledge, mortgage, hypothecate or sell
the same; to employ and discharge clerks,
laborers or other persons necessary to
the conduct of it's business, and to do and
perform all acts essential to the manage
ment of it's affairs not inconsistent with
law. Service of all legal processes shall
be had on the President, or in his alb
sence, on the Vice President.
ARTICE II.
The capital stock of said Company
shall be twenty-five thousand dollars
(S25, OO0), divided into two hundred and
fifty shares of one hundred dollars ($10O)
each, which shall be paid for in cash or
its equivalent in property at the time OF
subscription. It's business shall begin
when twenty thousand (S20, 900 capital
stock shall have been subscribed and paid
for in cash or its equivalent. No stock
holder shall sell, assign or transfer his
stock without first rendering the same
for thirty days to the other stockholders
for sale, and in event of the refusal to
purchase, such stock may be sold in open
maIket, but not for less than price ten
dered by the stockholders, or any one of
them. No transfer of stock shall be made
except such transfer be entered on the
books of he.Company, at its Office in the
town of Benton, La, and on the surren-
der of the certificates therefor. No trans
fer of fractional part of share shall
be made.
ARTICLE III.
The corporate powers of this corpora
ton shall be vested in Board of Direc-
tors to be composed of three stockholders,
two shall constitute quorum, which
Board shall be elected annually on the
first Monday in January of each year,
beginning in the year 1902. The first
| Board is hereby declared to be Robert E
Wyche, Thomas w. w. Stinson and
Walter E. Ivey, and the first officers Of
| this corporation are declared to be Robert
| E. Wyche, President; T.. w. w. Stinson
Vice President; and w. E. Ivey, Secre-
tary and Treasurer; which Board anG
| officers shall serve until the first Monday
of January, 1903, or until their success
sors are duly elected thereafter.
! In election of Board of Directors, ano
in all voting, each shall be entitled tt
one vote for each share of stock register
ed in his name, and he may vote in person
or by proxy. Notice Of all meetings o.
stockholders shall be in writing by the
Secretary ten days prior to the meeting
| ANY failure to elect Directors on the day
named shall not dissolve the corporation
but the Directors and officers then il
Office shall hold over until their success.
sors are chosen. In such event the Pres.
ident shall order an election to be hell
thirty days after due notice given a
above; provided, after each election tn,
Directors shall elect from their numbe
the officers of the corporation. No per
son other than stakeholder is eligible
as director or officer.
ARTICLE w.
The certificate of stock in this Com
pany shall be signed by the Presiden
and Secretary. All checks, drafts, note
or other obligations shall be signed b,
the President or in his absence or inabil
ity, by the Vice President, and in tn
absence or inability of the President an,
Vice President, by the Treasurer.
ARTICLEv.
The President shall call meeting Q
the stockholders to consider any matte
| pertaining 10 tue UuSlucSS WHICH Gale
. on in writing by one or more of tn
stockholders; ten days. notice of sue
meetings shall be given in writing by tn
Secretary, and the stockholders in sue
meetings may direct and determine. tn
action of the Board of Directors.
ARTICLE vi.
This charter may be changed c
amended, OF this corporation dissolved q
meeting of the stockholders convene
| for that purpose, with the assent of
/ majority of the stock; ten days. notice {
such meetings shall be given as abov
provided.
ARTICLE VII.
In case of dissolution, or termination
of this corporation by limitation, {
otherwise, the liquidation of its affair
shall be conducted by three commission
! ers selected from the stockholders; sue
) commissioners shall remain Id Office unit
!. the affairs Of the corporation are full
j. iquidated. No stakeholder of this col
). poration shall be held liable or respons
BILE for the contracts, liabilities or faul
thereof in any further sum than the III
paid balance due the corporation on Il
shares of stock subscribed for or owne
by him; nor shall any informality in Il