The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1902-07-12
CHARTER.
STATE OF LOUISIANA, J
PARISH OF ST, MARY. (

BE it known that on this day of May,
1902, before me, Ion Rochel, Notary
Public, duly commissioned and qualified
within and for the aforesaid Parish and
state, and i'll the presence of the witnesses
hereinafter named and undersigned, person.
ally came and appeared the several persons
whose names are hereunto subscribed, who
severally declared that awaiting themselves
of the provisions OF the laws of this State
relative to the formation of limited liabil
ity corporations and bodies politics, they did
associates and successors form themselves,
intoa corporation and body politics under
the following conditions, to wit:
ARTICLE |,
The name and title of this corporation shall
be "The Patterson Brick Company, Limited, ;"
and by this name this corporation shall have
tho power to exist and enjoy succession for
the term of ninety nine (99) years from the
date of this act.
ARTICLE H.
The dOmicile of this company shall be in
Patterson, st. Mary parish, La. and all eta
tons and other legal processes shall be
served on the president or in his absence
upon the vice president, or in the absence
of both upon the secretary.
1t shall nave power to contract, to sue and
to be sued; to make and change at its pleas
ure such rules and bylaws for the manage
ment of its business, as it may deem proper;
to appoint sucd officers, managers and
agents for the management of its affairs as it
may DESIRE to hold, receive, rent purchase
and convey, mortgage and hypothecate un-
der its corporate name, property both real
and personal; 10 execute notes and bonds
and to make ana sign contracts and to do all
such other things as may be necessary to
carry out the purposes of the corporation.
ARTICLE Ill.
The objects and purposes, for which this
corporation is organized and the nature of
it's business Is declare to be:
The making and burning of bricks of all
commercial grades and the manufacture of
various commercial products from CLAW
The sale both wholesale and retail of all
clay products and bricks, whether manu-
featured by the corporation or bought for it's
account, and the establishing of such reta il
yards as may be necessary.
The building of houses and other buildings
of works in which its products can be used,
or the lending of money for the construction
of the same, or the advancement of material
for the same purpose; and to make and ex
ecute and carry out all such contracts as
may be necessary to do such things.
The purchase and sale of sand, lime, NOR
are connected with the building and con-
strnction of houses, buildings and public
works.
The use of its machinery and digging an.
paratus, when not in use in the making OF
bricks, for the purpose of cutting drains and
canals and bitches for its own use or for
private or private use; and make, execute
and carry out all contracts necessary to do
this thing.
ARTICLE ".
The capital stock of this corporation shall
NC ACi tcIuiOOOj DOlldTS. DIV lNpu
into one hundred (lO0) shares of the par
value Of one hundred tS1O0) dollars each. of
this amount of the capital stock six thous-
and (S6OOO) dollars or sixty (60) shares shall
be known as common stock and four thous-
and $4,000 dollars or forty (4O) shares shall
be known as preferred stock.
The capital stock, common and preferred
has been subscribed for by the undersigned
incorpOrators and is to be subscribed for bv
those who may hereafter subscribe for the
same, upon the following basis;
In the event at any time of the liquidation
OF the affairs of the corporation the pre.
ferred stock in existence at that time shall
be settled with in full before any settlement
is made with the owners of the common
stock; provided that in making an estimate
of the value of the same, the book value of
the capital stock shall be accepted by al,
parties as basis of settlement
Whenever the board of directors shall
deem tit to declare dividends from the prof
its arising out of the business Of the corpO-
ration no dividends for any year shall be
paid to the common stock until the preferred
stock shall have received preferential
dividend of ten per cent. for that year.
After the preferred stock shall have re-
ceived this preferential dividend of ten per
cent. for the year in which it is declared. the
common stock shall receive all remaining
dividends up to the amount of ten per cent
upon the common stock; and then ali re-.