St. Landry clarion. (Opelousas, La.) 1890-1921, 1902-08-09
STATE or LOUISIANA.
Pa1.i /. Of S4 NJ,

/ written duly commissioned, sworn an1
| qualified, and IN the presence of the
witnesses hereinafter named and un
dersigned, personally came and appear
| ed, W. +. Glopton, j. Scott, +. S. Hav
ard, Ernest Morrow. T.. Goudchaux anG
| il. A. Hayard, att residents of the parish
and State above written and to me we'll
| known, who seyerally declared that
4 availing themselves of the provisions OF
| Act No. 36 of the General Assembly OF
the State Of Louisiana, approved and
signed on June rs, 1888, they have con.
| tracted and agreed, and by these pres
ents do contract and agree and have
| formed themselves into O corporation
| for the objects and purposes and under
| the terms, limitations and stipulations
hereinafter set forth, to-Wit: that is te
say:
| ARTICLE /.
The name and title of this corporation
shall be TIL II MORROW GINNING
| CO. LIMITED. Its domiciIe shall be
shall exist foI. the term of ninety-nine
years from this date, provided, however
that by mutual consent the present In
corporators or their successors or assigns
shall have and enjoy the privilege OF
extending the term of this charter be-
yond said date or of limiting it's dura-
fion and liquidating Its affairs If they
see proper SO 10 do.
ARTICLE II.
The objects and purposes of this cor
poration are hereby declared to be to
maintain and operate cotton gin for
the purpose of ginning, pressing and
baling cotton for the public at said vii
lage of Morrow, and to buy and sell cot
ton. Said corporation shall be author
lied to acquire such real estate as may
be necessary to carry on its said busi-
ness, as also such personal property as
may be advantageous or necessary for
operating the same.
ARTICLE III.
The capital stock OF this corporation
is hereby fixed at the sum of four tfous-
and eight hundred dollars, divided into
six shares of the par value of $4,000
each. and subscribed by the present i'm
corporators in the amount set opposite
their respective names.
And 1T is now hereby expressly pro-
vided that all persons who may become
members of the same by signing the
copy of this present charter, which the
Secretary of this corporation is hereby
directed to keep in his Office. provided,
however, that the capital stock may be
increased in such amount as may be
agreed upon by the stockholders at a
general meeting called for that purpose,
of such stockholders who may vote for
such increase of stock.
ARTICLE ".
This corporation shall begin business
as soon as all stock is paid in. A stock
certificate shall be issued to each menu
Der of this corporation for the amount
of stock subscribed by him. The stock
certificate shall be signed by the Presi-
dent and eoun tersigned by the Secre-
tary and Treasurer. That the property
assets and credits of this corporation
shall alone be liable for its debts.
ARTICLE ".
The business and affairs of this cor
poration shall be carried on and man
aged by Board of Directors, composed
of six kholdeTs, who shall from their
number elect q President, Viee-Presi-
dent, Secretary and Treasurer, which
last offices shall be filled by one and the
same person. All legal process shall be
served upon the President, and in case
of his absence or death, upc2-t,a Vice
President, and in case of the absence or
death of the President and Vice-Presi-
dent, then same shall be served upon
the Secretary and Treasurer. In case OF
death the five remaining directors shall
have right to choose from among the
stockholders new director, who shall
serve until the next general election for
a Board of Directors. Until otherwise
provided for, DIR. w. #. Clopten shall
be President. and j. s. Hazard, Vice
President, and Joseph J Scott shall be
Secretary and Treasurer; provided,
however, that the Board of Directors
may select, hire and employ and dis
charge at pleasure such managers, em-
ployees and laborers as the business of
the corporation may require, and shall
also have power and authority to fix
their compensation.
ARTICLE VI.
The net profits of the business of this
corporation shall be divided rateably
among the stockholders in proportion
to the amount of stock held by each one
severally, and such profits are to be di-
vided at such time as may be determine
ed by the Board of Directors after full
statement of the business OF the com
pany justifying such dividends to be
made by them; provided. however, that
all salaries, wages and other expenses
of running the corporation and of keep
ing the plant in repair, shall be paid by
the corporation before any profits are
declared and divided.
ARTICLE VII.
This corporation shall not expire or
cease ON the death of any of its stock
DAb III HtiCG C3SlR3 tB0 buSaliCGSj
shall be carried on by the surviving
members until the expiration of the
term of this charter or the extended
term which it has begun to run: pro-
vided, however, that this corporation
may be terminated and Its business
affairs liquidated at any time on a vote
of three-fourths in amount of the stock
held by the members at a special meet
ing called for that purpose, and after
,,Af chn11 fnsyo crt txsnn fa tb a.
stockholders of the time and place of
such meeting and OF its objects and pur-
poses to be given in writing.
ARTICLE VIII.
The Board OF Directors, az well as all
officers of this company, shall hold their
office for the term of one year from the
date of this charter, at which time a
general election for such officers and d.
reetors shall be held at the Office of the
company, on the second Monday in May
in each and every year, and at such
election each stockholder shall be en-
titled to as many votes as he may own
shares in this company, and such voting
NAV be done either in person or by
proxy. The manner of holding said
election shall be as follows: Twenty
days notice of the time and place and
hour of such election shall be given in
such election the Board of Directors
then in office shall name two commits
sioners of election whose duty it shall
be to receive the votes Of all members
entitled to vote under suoh charter and
to make an accurate and true record of
the same, and to issue TO the persons
elected at such election, a certificate
setting forth the fact of their election as
officers and directors of this company,
which said certificate shall be presented
by such officers and directors chosen as
aforesaid at the next meeting of the
Board Of Directors, and the same shall
entitle them to be recognized and quail
filed as the officers and directors OF this
with power to exercise al OF