The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1902-01-23
Charter of the
RENTON MERCANTILE COM
PANY, LIMITED.
State of Louisiana-Parish of Bossier


who declared severally that they do
hereby form and organize themselves,
their associates and successors into
corporation 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,
groceries, grain, hay, hardware, and all
kinds of plantation supplies and all otner
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
it's 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 Gle, 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 it's affairs not inconsistent with
law. Service of all legal processes shall
be had on the President, or in his abb
sence, on the Vice President.
ARTICE II.
The capital stock of said Company
shall be twenty-five thousand dollars
($25, OOO), divided into two hundred and
fifty shares of one hundred dollars (St00)
each, which shall be paid for in cash or
it's equivalent in property at the time OF
subscription. Its business shall begin
when twenty thousand (S20, O00) 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
| maIket, 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 tlaas-
| fer Of fractional part of a share shall
| be made.
| ARTICLE III.
| Tho oornnraf y,nuarc nf this enrnnro
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 the
first Monday in January of each year,
beginning in the year 1902. The first
Board is hereby declared to be Robert E
Wyche, Thomas w. w. Stinson and
Walter E. Ivey, and the first officers OF
this corporation are declared to be Robert
E. Wyche, President; T.W. W. Stinson,
Vice President; and w. E. Ivey, Secre-
tary and Treasurer; which Board and
officers shall serve until the first Monday
of January, 1903, or until their success
sors are duly elected thereafter.
In election of Beard of Directors, and
in all voting, each shall be entitled to
one vote for each share of stock register
ed in his name, and he may vote in person
or by proxy. Notice Of all meetings OF
stockholders shall be in writing by the
Secretary ten days prior to the meeting
Any failure to elect Directors on the day
named shall not dissolve the corporation
but the Directors and officers then in
office shall hold over until their success
sors are chosen. In such event the Pres
ident shall order an election to be helo
thirty days after due notice given az
above; provided, after each election the
Directors shall elect from their number
the officers of the corporation. No per-
son other than stakeholder is eligible
as a director or officer.
ARTICLE w.
The certificate of stock in this Com.
pany shall be signed by the Presiden
and Secretary. All checks, drafts, notes
or ether obligations shall be signed by
the President or in his absence or inabil-
/ ity, by the Vice President, and in the
absence or inability OF the President ant
Vice President, by the Treasurer.
ARTICLEv.
The President shall call meeting O.
the stockholders to consider any matte
pertaining to the business when called
on in writing by one or more of the
stockholders; ten days notice of suci
meetings shall be giveE in writing by tn,
Secretary, and the stockholders in sucl
meetings may direct and determine thu
action of the Board of Directors.
ARTICLE vi.
This charter may be changed o
amended, or this corporation dissolved a
meeting of the stockholders convenet
for that purpose, with the assent of ;
majority of the stock; ten days. notice o
such meetings shall be given as abov'
provided.
| ARTICLE VII.
In case of dissolution, or termination
J of this corporation by limitation, o
otherwise, the liquidation of its affair
shall be conducted by three commission
ers selected from the stockholders; sucl
commissioners shall remain Id Office unit
the affairs of the corporation are full,
iquidated. No stakeholder of this cor
poration shall be held liable or response
BILE for the contracts, liabilities or fault
thereof in any further sum than the un
: paid balance due the corporation on tn
shares of stock subscribed for or owne