Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1902-07-25

herein after named and undersigned, person
ally came and appeared the several persons,
whose names are hereanto Subscribed, ana
who severally declared, that, avaiinE tnem-
selves OF the laws and Constitution OF the
STATE of Louisiana, in such cases maze ana
provided, they contract and agree, ana D5
these presents bind themselves, as well as
such other persons as may hereafter become
associa ted with theFn, to form and constitute
effects and purposes and under the agree
ments and stipuiations following, to-wlt;
ARTICLE 1.
The name and title of tins corporation shall
be "St. JOSEPH BUILDING AND IMPROVE
| MENT COMPANY" and by said name said
succession and corporate existence for and
during the full period fznd term OF ninety nine
| years from the date OF this act, unless sooner
dissolved and by said name may contract,
Said corporation shall have power to make
and use n corporate seal, and the same 10
| alter at pleasure; also to hold, lease, pur-
chase, sell, exchange, transfer add convey {,
as well asto mortgage, pledge ANS nypotne-
| cate, under is corporate name, real, person
al and aixetpProperty also 20 borrow money
aud give security therefor, also 10 make con-
| tracts and to receive grants and donations OF
property, real, personal and mixed, also 70
name and appoint such managers, directors
and officers as Its interest ana eoh hS,eh
bylaws and rules for the proper 1ReHage aenI
| and for the regulation Of the AFFAIRS of said
corporation as may be necessary and proper ,
also to possess and exercise all other powers
| and privileges which corporations OF similar
character are or may be authorized to pos
sess and exercise under the laws and Consti-
tuition Of the State of Louisiana.
| ARCTICLE II.
The place chosen for the domieile OF this
| corporation Is declared to be village OF st.
Joseph, in the Parish OF Tensas, State of
| Louisiana.
| ARTICLE III.
The purposes for which this corporation has
been organized are as follows, tO-wft:
| To engage in, conduct and carry on a real
estate and building business in the Parish OF
Tensas, State of Louisiana; and to this end
ceive, and acquire by purchase, grant, gift,
donation, lease, and exchange, property
real, personal and mixed. To build houses,
same buiided, repaired and improved. To
| hold, use, maintain and repair said property,
| real, personal and mixed, and the same TO
/ sell, exchange, part with, aleniate and con-
| vey, also to lease, rent, mortgage, pledge
and hypOthecate.
To borrow money or to purchase or lease
property on Its own credit, for the purpose
| of constructing, maintaining and operating
the business herein provided for, and as evil
| dence Of such Indebtedness of said corpora
| ton for such loans or for the purchase, lease
or construction OF such property, TO issue It's
corporate bonds or prom1ssory notes, bearing
| interest at such rates per annum as the said
corporation may elect, payable at such time
4
the security OF such bonds or notes, and the
interest thereon, to mortgage and pledge its
property, its capital stock, its corporate
franchises, and any or all Of its property real,
All citations shall be served upon the Presi-
dent, or In his absence, upon the Vice Pres
ident or the Secretary and Treasurer Of said
corporation, or upon any such other person
as may be determined by said corporation,
ARTICLE Nv.
SECTION ONE. The amount OF the capital
| stock of said corporation shall be Twenty
| Five Thousand Dollars, divided into Two
Hundred and Fifty shares Of the par value of
One Hundred Dollars each. This charter shall
| become operative and this said corporation
shall commence business as soon as Five
| Thousand Dollars of its capital stock shall
SECTION TWO. The time and manner of
paying subscriptions for stock Of this corpor-
alton shall be fixed and determined by the
Board OF Directors, except that no stock shall
| actually received or for labor reformed.
| SkCTlON THREE. In case of failure on
the part OF any subscriber to pay the whole or
any portion of his subscription at the time or
| In the manner prescribed by the Board of Dr.
rectors, then and In that event the share or
shares OF stock subscribed for by such person,
and all payments therefor made thereon
may at their option, be forfeited to the cor
poration by the Board Of Directors after SER
vice of written notice on the delinquent sub
scrlber and failure on his pari TO pay the
SECTION FOUR. No stakeholder Of said
corporation shall ever be liable or held re-
ssponslple Tor ITS contracts or faults in any
further sum than the unpaid balance Of the
shares Of stock owned by him; nor shall in
formaltty in the Organization hereof have the
effect OF rendering this charter null or expos
ing stock holder to any liability beyond the
amount OF the stock subscription subscribed
by him.
ARTICLE v.
The corporate powers Of this corporation
shall be vested In Board Of Directors com
posed OF seven members hereof The fist
Board OF Directors shall consist of and he
composed and constituted as follows. Robert
Worrell Z. d. Newell, VIM. NJ. Davidson,
jos. q fhoorigHe1, p. r. Young, Joseph Cur
The Directors herein named shall hold Office
until the LIST day OF July, A. D. 1908. On the
~ Gay OF July A; ID. 1905, and annually there
general meeting OF the stock holders 81 said
corporation shall be held, and there shalI he
selected rom the stockholders, a Board of
Notice OF said meeting shall be given by pub
LEGATION In newspaper published in the vii
age OF 81. Joseph, Tensas parish, Sta'e of
louisiana, for fully ten days prior thereto
At all elections the vote OF majority 81 the
STOCK present and represented shall he nacas
sary to elect, and the majority Of the out
standing STOCK OF the corporation shall be
necessary to constitute a Quorum at anT rr ~
election, and each stakeholder shall Re on
titled TO cast, either In person or nv nroxv
one vote Tor eaen share OF stock held by him,
but not TO vote on any share of stock trans
ferred within ten days prior to an election
All directors shall continue in office untiI ~
successors are elected and indicted into
once. The directors shall elect one 81 Their
number to be President of said cou,nanv ana
another TO be Vice President and InaE ,ai a11
rom among themselves or appoint from
among other members of said comnanv who
are not Directors, one person ~ "a r VINO
urer OF said corporation and another e. ho
Secssse8ary or one person to Ill both positions.
sssistapt I T re ector may also appoint an
tary or one person to I'LL both Positions ana
sucn person or persons to be so annnintsd
n nee NOT pc Director or a stock holder of
said Board may also appoint snch ,.A.-
omcers or employees as It may DEAN pecesI
sary; II shall have the power to mi All va
all necessary bylaws, rules and sa, vi make
Tor the government OF the business q "a is
of the said corporation, and To chansa III :
same at pleasure, as 1t may determine VINO
ARTICLE vi.
This corporation may be dissolved nv ~
assent OF three fourths Of the amonnt * tho
outstanding capital stock at a oeneraI % !. .ne
Ing convened for such purpose. after ths,t-
days notice shall have been given - a.,ay
ns meeting N SsaSyeertising the same in news
Louisiana. The capital stock NAV he ~
creased In the manner and form provided nv
the general laws Of the State of Louisiana scyr
tons. sum CORPORA
The capital Of this corporation NAV Ia A..
creased IN the manner and form proyided r.,
sven cases by the general laws OF the state
ARTICLE VII.
Whenever this corporation shall di..,,,..
either by limitation or otherwise. or ~
Gsn ssh Ssqse ,d Its d Affairs shall be qudated
the balance OF its funds, IL any divsSe5 anu anu
rata among the stock holders, under AZ Pro
perintence and charge Of three Commis e 81
ers OF Liquidation, to be appointed Us .Si
purpose at a general meetinr Of ~ lOr tnls