The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1902-05-03
THE PROVIDENCE LAND COM.
PANY. LIMITED.

PANY, LIMITED,
and its domicile- is hereby established in
the City of Providence, parish OF East Car
rolf. State of Louisiana, and under its said
corporation shall have power and authority
to contract. sue and be sued: to make and
use 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 add APP
point such officers. directors, agents and
manage as the interest oil
convenience of said corporation may re.
quire: to make and establish bylaws. rules
and regulations fer the proper manage
ment aad. regulation of its affairs as may be
deemed necessary and proper. and the same
to alter and change at pleasures; and to dc
all other acts and things permitted by law
or as shall or may be necessary and proper
to carry on the objects and purposes of said
corporation.
Said corporation unless sooner dissolved
in accordance with it's charter, shall exist
apd continue, for the period of ninety-nine
years from and after the date hereof.
ARTICLE II.
This corporation is created for the
purpose of doing a Real Estate bust
ness in buying, leasing and sell.
ing lands and houses in Louis;
lana and elsewhere; also building houses
for lease or sale;, cultivating agricultural
LANDS. and developing plantations and un-
improved lands; also whatever is usual and
customary in the creation management and
operation OF a Land Company.
ARTICLE III.
The capital stock of SAID corporation
shall be One Hundred Thousand Dollars
divided into and represented by ore thous-
and shares of one hundred dollars each. OF
which said stock ten per centum shall be
scription and the remainder at such
time or times rs may be desig-
mated 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
full paid for money advanced. and for such
other valuable considerations or services as
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
poration
Any stakeholder may sell. assign or
transfer his stock in this corporation, pro-
vided thirty 1907 days prior notice of such
intention to sell, assign or transfer the
same be given to the company, and the
other stockholders thereof shall have 1.-The
hrst privilege of purchasing the same, after
which thirty days notice the said stock
may be sold I'm open market.
The stock of said corporation may be
transferred. under the above conditions.
provided such transfer thereof be made on
the books of said company at it's Office in
the city of Providence. and on the surrend-
er of the certificate thereof.
No transfer of any fractional part, of a
share shall be made.
The corporation shall commence doing
business as soon as twenty thousand dol
lars of the capital stock shall have been
subscribed for and ten per centum paid
The board of directors shall have the
right to determine how much stock shall be
issued.
ARTICLE w.
The corporate powers of this company
shall be vested in and exercised by board
of three directors. consisting of the Presi-
dent, Vice President and Secretary and
Treasurer. Two of said board shall consti-
tute quorum for the transaction of bust
ness, and their decisions shall be valid cor
porate acts.
The following persons shall constitute
the first board of directors
j. S. Millikin. President; j. E. RansdeH,
Vice President; f. j. Hamley, Secretary
and Treasurer.
During the absence ofthe president the
vice president shall act and preside. The
president. or in his absence, the vice presi-
dent shall be the proper person upon whom
citation or other legal process shall be
served.
Said board shall continue in Office until
The first Monday in July (1903) one thous-
md nine hundred ana three, on. which,
late and hereafter annually, O. board OF d.
'ectors shall be elected on the first Monday
Z July Of each year. unless the same should
De legal holiday. when the election shall
DC held on the next day thereafter.
Notice of said election shall be given to
each stakeholder by the secretary, in writ
ng. at least ten days prior to each elections;
md the board of directors shall appoint one
,r more stockh olders to preside at such
election as commissioners. In the event
If the failure of any commissioner or COM
nissioners to attend. the president shall,
~ appointment, ill the vacancy. Any fail
Ire by any cause whatever to elect
purpose shall not dissolve the cor
'oration. but the directors then in
'fiice, as well as the officers of said COM
'any. shall hold over until their successors
ire chosen.
In such event the president shall cause
mother election to be held in 80 days, and
hall give notice thereof as hereinbefore
provided.
At every election and meeting each
shall be entitled to vote for
zach share OF stock registered in his name
md may vote by proxy
The election of directors shall be bv bal
OF and the majority in amount of votes cast.
Zach share ofstock voted upon to be counted
or one vote, shall elect the person or per-
ons for whom they were cast.
After each election the board of directors
ball elect from their own number the Off
ers OF said company.
The board of directors shall have full
)ower to fill vacancies in their numberr
;aused by death. resignation or otherwise
rom among the stockholders of the corpor-
tiOn. d
ARTICLE ". N
The said board shall conduct all the bust,
less of this corporation, with full authorit 4
o buy. sell, lease lands and houses, for easH
n on terms OF credit. In Louisiana ane
and to do whatsoever is neces-
AIRY and customary in carrying out the
,bJeets OF this corporation, and il can del9
rate any OF its powers to an agent or agents.
The said board is further authorized "a
rame and adopt such bylaws. rules and
equations as the affairs and business of
he corporation may require, and as it may
leem necessary for the conducting and
thereof, provided the same
hall not conflict with this charter. or with
he law OF the State or of the United States.
The said board shall elect or appoint
ecretary and treasurer, and such other
'fficers. agents, employees, servants and
Jerks as it may deem necessary Tor the
of the business of the corpora
ion; Tx their compensation, term of SER
ice. with the right to dismiss them at said
,Oards' pleasure; and said board shall have
he right to fix and determine the salaries
or the several officers herein provided for.
ARTICLE vi.
This charter may be changed, modified or
the capital stock Increased or de-
or this corporation may be dis
olved at a meeting ofthe stockholders con-
'ened TOR the purpose, with assent of three
ourths Of the entire capital stock, whether
present or represented at such meeting :.
Notice of such meeting shall be served by
he secretary on each stockEolder, in writ
ng. ten days prior to such meeting.
In case of dissolution or termination of