St. Landry clarion. (Opelousas, La.) 1890-1921, 1902-07-26
STATE OF LOUISIANA, :
Parish Of Ct Ianarr,

4 DE IT. KNOWN, that ON this 26th day
, 19 of May, in the year of our Lord
One Thousand Nine Hundred and Two
before me, b. II. Vannoy, notary pub
lie, in and for the parish and State above
written, duly commissioned, sworn ano
, qualified, and in the presence of the
witnesses hereinafter named and un
dersigned, personally came and appear
ed, w. L. Clopton, j j. Scott, j. s. Hav.
ard, Ernest Morrow, L. Goudchaux and
l.. A 4. Hayard, all residents Of the parish
and State above written and to me we'll.
known, who severally declared that
ayailing themselves of the provisions OF
Act No. So of the General Assem- bly, OF
the State of Louisiana, approved and
signed on June 2S, 1883, they have con-
tracted and agreed, and by these pres
ents do contract and agree and have
formed themselves into corporation
for the objects and purposes and under
the terms, limitations and stipulations
hereinafter set forth, to-wit: that is to
say:
ARTICLE i.
1 The name and title of this corporation
shall be THE MORROW GINNING
i CO.. LIMITED. Its domicile shall be
in the village of Morrow, La, aud it
/ shall exist for the term of ninety nine
years from this date, provided. however,
that by mutual consent the present IN
4 lcorporators or their successors or assigns
shall have and enjoy the privilege of
extending the term of this charter be-
4 yond said date or of limiting its dura-
ton and liquidating Its affairs if they
see proper so TO 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 VIII
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 thous-
and eight hundred dollars, divided into
| six shares of the par value of $s00.00
eachs and subscribed by the present in
eorporatorS in the amount set opposite
their respective names.
And il 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
general meeting called for that purpose,
and on the affirmative vote of tWo-thirds
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 mem
ber of this corporation for the amount
of stock subscribed by him. The stock
certificate shall be signed by the Presi-
dent and countersigned by the Secre-I
tary and Treasurer. That the property
assets and credits of this corporation
shall alone be liable for its debts.
ARTICLE Y.
The business and affairs of this cor
poration shall be carried on and man
aged by Board of Directors, composed
OF six stockholders, who shall from their
number elect a President, Vice-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, upon the 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
Board of Directors. Until otherwise
be President. and j. S. Havard, 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
seyerally, and such profits are to be di- |
vided at such time as may be determin- |
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 |
holders, but in such event, the business
shall be carried on by the surviving
members until the expiration of the |
term of this charter or the extended /
term which 1t 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-I
ing called for that purpose, and after
due notice shall have been given to the |
stock holders 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, as 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 dl-
rectors shall be held at the office of the I
company, on the second Monday in May /
In each and every year, and at such |
election each stakeholder 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 /
nroxy. The manner of holding said |
election shall be as fallowsi Twenty |
days notice of the time and place and /
hour of such election shall be given in /
writing, and at the time appointed for
such election the Hoard Of Directors T
then in office shall name two eommis-l
sioners of election whose duty it shall I
be TO receive the votes OF all members
entitled to vote under such charter and I
to make an accurate and true record of
the same, and to issue to the persons
elected at such election, certificate
setting forth the fact of their election as I
officers and directors of this eompany.t
which said certificate shall be presented |