The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1902-01-02
Charter of the
BENTON MERCANTILE COM
PANY, LIMITED.

AAAA OoAH-
PANY, LIMITED.
State of Louisiana-Parish of Bossier.
DE it known, that on this the sixteenth
ID day of December, A. D., nineteen
hundred and one $500, before me,
Beverly A. Kelly, Clerk and ex-oficio |
Recorder and Notary Public in and for
the Parish of Bossier, State of Louisiana,
duly commissioned and qualified, person.
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
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,
clothing, furnishing goods, furniture,
grain, hay, hardware, and all
kinds of plantation supplies and all other
articles generally bought and sold in such
establishments, 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-five years from
the date of this act, under the following
articles, to-wit:
ARTICLE I.
The name and style of CHS corporation
shall be the "BENTON MERCANTILE
COMPANY, LIMITED" and its DOM
icile in Benton, Louisiana, and under
its 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 clei ks,
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 its 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, 0O0), 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. Its business shall begin
when twenty thousand CSC, 0OO) 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
ma1ket, 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 the 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 thu
first Monday in January of each year
beginning in the year 1902. The frs
Board is hereby declared to be Robert E
| Wyche, Thomas w. w. Stinson ant
Walter E. Ivey, and the first officers o
this corporation are declared to be Rober
f. Wyche, President; T. w. w. Stinson
Vice President; and w. E. Ivey, Secre
tary and Treasurer; which Board ant
officers shall serve until the first Monda,
of January, 1903, or until their success
sors are duly elected thereafter.
In election of Board of Directors, an
in all voting, each shall be entitled t.
one vote for each share of stock register
ed in his name, and he may vote in perso
or by proxy. Notice of all meetings o
stockholders shall be in writing by tn
Secretary ten days prior to the meeting
Any failure to elect Directors on the da
named shall not dissolve the corporation
but the Directors and officers then i
Office shall hold over until their success
sors are chosen. In such event the Pres
ident shall order an election to be he'll
thirty days after due notice given a
above; provided, after each election tn
Directors shall elect from their numbe
the officers of the corporation. Noper
son other than a stakeholder is eigibl
as director or officer.
ARTICLE ".
The certificate of stock in this Com
pany shall be signed by the Presider
and Secretary. All checks, drafts, note
or other obligations shall be signed b
the President or in his absence or inabi
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 ,
the stockholders to consider any matt,
pertaining to the business when Gale
on in writing by one or more of tt
stockholders; ten days. notice of sue
meetings shall be given in writing by Il
l Secretary, and the stockholders in sue
t meetings may direct and determine tt
action of the Board of Directors.
ARTICLE vi.