The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1902-07-05
CHAR i..!..
STATE Ot Loo .>iANA, !
PARISH OF ST. MARY. !

| Public, duly commissioned and GUtilnet
| within and for the aforesaid Par II ant
, | state, and III the presence of tn" .ACSSc
hereinafter named and unders gac,i, person
| ally came and appeared the several persons
| whose names are hereunto subscribed, W he
| sevcrally declared that awaiting themsclN e!
of the provisions of the laws of this State
| relative to the formation of limited liabii
ity corporations and bodies politics, they dc
| and do by these presents form themselves
| associates and successors form themselves
into a 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 fof
the term of ninety nine $3.50 years from tho
| date of this act
ARTICLE II.
The domicile of this company shall be in
| Patterson, It. Mary parish, La. and all eta
| tions and other legal processes shall be
| served on the president or in his absence
| upon the vice -prcSdent or i'll the absence
| OF both upon the secretary
1t shall have power to contract, to sue and
| to be sued; to make and change at its pleas
J ure such rules and bylaws for the manage
ment OF its business, as it may deem proper
| to appoint such officers managers and
! agents for the management of its affairs as it
| may desire; to hold, receive, rent purchase
| ana convey, mortgage and hypothecate un-
| der ITS corporate name, property both real
| and personal; to execute notes and bonds
| and to make and sign contracts and to do all
| such other things as may be necessary to
| carry out the Purposes of the corporate ion.
ARTICLE III.
The objects and purposes, for which this
| corporation is organized and the nature of
| its business is declare to be:
| The making and burning of bricks of all
| commercial grades and the manufacture of
various commercial products from clay.
The sale both wholesale and retail of all
| clay products and bricks, whether manu-
| featured by the corporation or bought for its
account, and the establishing of such retail
| 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
tor the same purpose; and to make and eX
ecute ana carry out all such contracts as
MAY be necessary to do such things.
| The purchase and sale of sand, lime NOR
tar and cement and such other material as
are connected with the building and con
struction 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 ana 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 snail
be Ten Thousand (Sl0,000) Dollars, divided
into one hundred (100) shares of the par
value of one hundred $500 dollars each. of
and (S60O0) dollars or sixty (60) shares shall
be known as common stock and four thous-
| and $4,000 dollars or forty (40J shares shall
be known a. preferred stock,
The capital stock, common and preferred
has been subscribed for by the undersi gned
incorporators and is to be subscribed for by
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
he
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 Il basis of settlement.
Whenever the board of directors shall
deem hit to declare dividends from the prof
ration no divideuds for any year shall be
paid to the common stock until the preferred
stock snail have received a preferential
dividend OF ten per cent. for that wear
After the preferred stock shall have ra
ceived this preferential dividend of ten per
cent. for the year III 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 all re-
manning dividends for that year shall be d-
vided equally per share between the com
mon ana preferred stock.
The stock OF the corporation, common or
preferred, is hereby declared to be non-as.
sessable and it shall not be in the power of
the corporation at any time to adopt any by-
law or amendment whereby anv Of the said
stock shall be made aSsessable without the
unanimous consent in writing of each share
holders of the corporation.
The board of directors can at any time re-
tire such amounts of the preferred stock of
the corporation as it may deem best, by
sending written notice so DAYS in advance
to any stock holder or Stockholders whose
stock it may desire to retire, and paving to
him to them the book value of the stock
provided that in any year before any pre-.
terred stock can be retired, it must also be
paid its preferential dividend of ten per cent
before being retired at its book value.
All preferred stock thus retired shall be
listed on the books of the corporation as
common stock and shall be subject to re-is-
sue as common stock at its full book value
by the board of directors.
All I'M issued stock, common or preferred
or retired preferred, shall be placed to the
account of the treasurer of the corporation.
to be known as treasury stock, held for issue,
and such stock shall be entitled to no accru,
ing profits or dividends, while they are in
this condition.
No stock, common or preferred, shall be
issued except for cash or its bona tide eoui-
valent in material or labor.
transfers OF stock will not be recognized
until notice or the same has been given to
this corporation by the owner or his duly
authorized agent, and such transfer has been
made on the books of the corporation
All transfers of preferred stock shall be
maze ana accepted subject to the right of |
the board of directors to retire the same at |
any time on demand.
ARTICLE V.
All the corporate powers of this corpora.
ton shall be vested in and exercised by a |
board of nine directors. stockholders of the
corporation, elected by ballot annually on
the 4th Tuesday of January of each wear at n !
meeting of the stockholders
said board shall have the power to I'LL all
vacancies in its body, occurring during the
year, and its members shall hold office until
the successors shall have been elected and
qualified.
The officers of the corporation shall he a
vice president, a secretary and
a treasurer, who shall be stockholders and
directors of the corporation.
The first board of directors shall he com !
posed of the following stockholders: Henry
llausmann, president: j. Z. Muggah, vice.
president; Sam X. Guyther, secretary and X.
Lee Riggs. treasurer, and Messrs Wilbur II |
Kramer, T.. Is. Gooch, Willie Callen, N. b.
TrelIue, and }. S. Perkins.
ARTICLE VI
This charter may be amended or its cant
tai stock increased or decreased or the cor
poration may be dissolved at a meeting of
the stockholders called for such specific bur
pose, each stakeholder having been given
written notice through the mail ten DAYS
prior thereto of the date and purpose of such
meeting, providing three fourths Of the
stock present or represented vote affirma- |
lively thereto.
At all meetings of stockholders held for
any purpose, each stakeholder can cast one
vote for each share held by him, whether
common or preferred, in person or through
IN agent by written proxy.
ARTICLE VII.
When for any reason this corporation NAV
liSSn aI