The Meridional. (Abbeville, La.) 1856-1906, 1901-01-26
CHARTER
OF THE.
ABBEyILLE CANAL COMPANY.

A6bE lLLC SAANEaA ooA
United States of America-State of
Louisiana,-Parish OF Vermilion.
Be it 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 q
Notary Public duly commissioned and
qualified, in and for the parish OF YER
million, State of Louisiana, and in. the
presence of the witnesses hereinafter
named and undersigned, personally
came and appeared the several persons
whose names are hereunto subscribed,
who severally declared that awaiting
themselves ofthe provisions ofthe laws
of this state, relative to the organlza-
ton of corporations they have contract
ed and agreed, and do by these pres
ents, contract and agree and bind and
obligate themselves, as we'll as all other
persons as may become associated with
Them. to form themselves into and con-
stitutc a corporation and body corpo-
rate in law, for the objects and pur
poses and under the conditions, stipula-
lions and Articles following, to-wit:
ARTICLE FIRST.
The name and title of said corpora
ton shall be the Abbeville Canal Com
pany and under its said cooperate name,
it shall have power and authority TO
exist and enjoy succession for the full
term and period of ninety nine years
from and after date hereof; to contract,
sue and be sued; to make and use a cor
porate seal and the same to break and
alter at pleasure; to purchase, receive,
lease, hold and convey AS well as mort
gage and hypothecate under its corpo-
rate name, property, both real and per-
sonal; to name and appoint such man
age and directors, officers and agents
as the interest and convenience Of said
corporation may require; and to make
and establish as we'll as alter and amend
at pleasure. such b bylaws, 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,
upon the Secretary of the Corporation.
ARTICLE THIRD.
The objects and purposes for which
this corporation is 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 and tt
other persons; to build, purchase, lease
and operate rice mills and warehouses;
to purchase, construct. own, lease and
operate canals in the state of Louisiana,
to be used for irrigating lands, or fol
transportation of products and mer.
chandise, or for both; to furnish water
for irrigating purposes and to charge
and collect tolls therefor in money Oh
crops, or otherwise; to buy, sell, store
ship, forward and handle rice and nthel
agricultural products, and to acquire
canals and canal property or interes'
therein, whether represented by STOCK
or otherwise; and to do any and al
such acts and things as may or shall bi
necessary and proper to carry out sale
nhinnta and nose
ARTICLE FOURTH.
The capital stock of this corporation
shall be five hundred thousand $500,
OOO) dollars, but the corporation shall
be entitled to organize and begin bust
ness when forty five thousand dollar
($45. 000) of said capital stock shal
have been subscribed and paid In a
follows: Fifteen per cent Decembe
18th 1900; twenty i've per cent Januar
lst, 1901; and sixty per cen March Isl
1901. The remaining four hundred an
fifty-five thousand ($455, 000) shall b
issued only on a resolution passed b
three fourths of all the directors or th
company, at a meeting called to cor
slider the issuance after ten days fu
notice 20 all the directors. When sal
additional stock shall be issued it sha
be first offered to the then owners of tl
stock of the company in the same pre-
portion in which they each own th
existing stock, Each shareholde
shall have ten days to decide wheth'
he will or will not take his proportiG
OF the additional stock, and if he do
not both take and pay for the same
ten days after the notice of the allo
ment TO him, he shall be conclusive
presumed to have refused to take Il
same, and the amount allotted to hi
shall then be reallotted to the 9th