The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1902-05-31
CHARTER.
STATE OF LOUISIANA. !
PARISH OF ST. MARY.

PARISH OF ST. MARY.
:, Re it knowa that on this day of May
1902, b"fo .4'. John r.. Parkerson, Notar,
Public duly commissioned and qualified
within and for the aforesaid Parish ane
State. and in the presence of the witnessei
hereinafter named and undersigned, person
ally came and appeared the several persons
whose names are hereunto subscribed wht
severally declared that availing themselves
! of the provisions of the laws of this State
relative to the formation of limited Iiabil
ity corporations and bodies politics, they die
| and do by these presents form themselves
associates and successors form themselves
into corporation and body politics under
the following conditions to wit:
| ARTICLEI |,
| 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 for
| the term of ninety nine (!t9) years from the
date of this act.
ARTICLE II.
| The domicile of this company shall be in
Patterson, st. Mary parish, La, and all cita =
| tons and other legal processes shall be
| served on the president or in his absence
| upon the vice president, or in 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
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
and convey, mortgage and hypothecate I'M
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 corporation.
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
commercial 81
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
for the same purpose; and to make and ex-
ecute and carry out all such contracts as
may be necessary to do such things.
The purchase and sale of 5 and, 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 ap-
paratus, when not in use in the making of
bricks, for the purpose of cutting drains and
canals and 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 w.
be Ten Thousand ($l0,0OO) Dollars, divided
into one hundred (lO0) shares of the par
value of one hundred (Sl00J dollars each of
this amount Of the capital stock six thous
and (S6OOO) dollars or sixty (60) shares shall
be known as common stock and four thous-
and $4,000 dollars or forty (4O) shares shall
be known as preferred stock,
The capital stock, common and preferred
has been subscribed for by the undersigned
incOrpOrators and is to be subscribed for bv
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
be settled with in full before any settlement
IS made with the owners of the common
stock; provided that in max ing an estimate
OF the value of the same, the book value of
the capital stock shall be accepted by all
parties as Il basis of settlement.
Whenever the board of directors shall
deem fit to declare dividends from the prof
its arising out of the business Of the corpo-
ration no dividends for any year shall be
paid to the common stock until the preferred
stock shall have received preferential
dividend of ten per cent for that year.
After the preferred stock shall have re-
ceived this preferential dividend of ten per
cent. for the year in 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 ali re- |
dividends for that year shall be di- |
Vided equally per share between the com
mon and 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 any of the said /
stock shall be made assessable without the |
unanimous consent in writing of each share
holders of the corporation. |
The board or directors can at any time re- |
t ire such amounts of the preferred stock of |
the corporation as it may deem best, by |
sending written notice 30 days in advance |
to any stakeholder or stockholders whose |
stock it may desire to retire, and paying to |
him to them the book value of the stock
provided that in any year before any pre-.
ferred stock can be retired, it must also be |
paid it's 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 it's 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,
70 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 it's bona fide eoui-
7alent in material or labor.
transfers of stock will not be recognized
Until notice OF the same has been given to
his corporation by the owner or his duly
agent, and such transfer has been
made on the books of the corporation.
All transfers OF preferred stock shall be |
made and accepted subject to the right of
he board of directors to retire the same at |
my time on demand.
ARTICLE "
All the corporate powers of this corpora. |
ion shall be vested in and exercised by a
board OF i've directors, stockholders of the
corporation, elected by ballot annually on
he 4th Tuesday of January of each year at
Meeting of the stockholders.
Said board shall have the power to fill all
'acancles in its body, occurring during the
'ear, and its members shall hold office until
he successors shall have been elected and
Qualified
The officers Of the corporation shall be a
PRESIDENT, vice president, a secretary, and
treasurer, who shall be stockholders and
directors of the corporation.
Ihe nrst board of directors shall consist of |
napoleon b. Trellue, president; Willie n.
ALLEN, vice president; Wilbur H. Kramer. ,
ecretary; X. Lee Riggs, treasurer, and Hen.
y HauSmann.
ARTICLE W. II
rms cnarter may be amended, or its CAPT ,
OratlOn may be dissolved at a meeting of |
he stockholders called for such specifjc mr. | 6
ose, each stakeholder having been given !,
ritten notice through the mail ten DAYS l
rlor thereto of the date and purpose of such a
leeting; providing three fourths Of the l
,ock present or represented vote afiirma- | /
vely thereto Y
At all meetings of stockholders held for v
nv purpose, each stakeholder can cast one t
Oto for each share held by him whether
n or N nf rnl I