The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1902-05-10
THE PROVIDENCE LAND con-
PANY, LIMITED.

| the City OF Providence, parish of East Car
} roll. State of Louisiana. and under its salt
corporation shall have power and AUTHORITY
to contract, sue and he sued; to make ant
use corporate seal, and the same to hreal
and alter at pleasure; to bold. receive, have
, purchase, improve, ALLEVIATE. convey. sell
borrow, pledge, mortgage and hypOthecate
Hnder its said corporate name, propert,
real. personal and mixed: to name and APP
point such officers. directors, agents ant
managers or employees as the interest Oh
convenience of said corporation may re
quire; to make and establish bylaws. rules
and regulations for the proper manage
ment and regulation of its affairs as may bt
deemed necessary and proper. and the same
to alter and change at pleasure; and to dc
all other acts and things permitted by law
or as shall or may be necessary and proper
to carry On-the objects and purposes of said
corporation.
Said corporation unless sooner dissolved
in accordance with its charter, shall exist
and continue for the period OF Dinety-nine
years frorn and after the date hereof.
ARTICLE II.
This corporation is created for the
purpose of doing Real Estate bust
ness in buying, leasing and sell
ing lands and houses in Louis
lana and elsewhere; also building houses
for lease or sale: cultivating agricultural
lands and developing plantations and un-
improved lands; also whatever is usual and
customary in the creation, management and
operation OF Land Company.
article III.
The capital stock of SAID corporation
shall he One Hundred Thousand Dollars.
| divided into and represented by one thous-
and shares of one hundred dollars each, of
which said stock ten per centum shall be
! paid for in cash at the time of snb-
| serIpuon and the remainder at such
| time or times as may be desig-
mated by the board of directors. or
the same may be issued at not less than par
IN payment or exchange for property. or
rights actually received or purchased by
said corporation. or the same may he issued
full paid for money advanced. and for such
other valuable considerations or services as
the board OF directors of said corporation
may determine; provided. that no stock
shall be issued until the consideration
therefor has been received by the said cor
poration
Any stakeholder may SELL assign or
transfer his stock in this corporation, pro-
yided thirty t30) days prior notice of such
intention to sell, assign or transfer the
same be given to the company and fine
other stockholders thereof shall have the
hrst privilege of purchasing the same. after
which thirty days notice the said stock
NAV be sold In open market.
The stock of said corporation NAV be
transferred. under the above conditions.
provided such transfer thereof be made on
the books of said company at its Office in
the city of Providence. and on the surrend-
er OF the certificate thereof
No transfer of any fractional part of
share shall be made.
The corporation shall commence doing
business as soon as twenty thousand dol |
lars OF the capital stock shall. have been
subscribed for and ten per centum paid |
thereon.
The board OF directors shall-have the |
rlght 10 determine how much stock shall be /
issued.
ARTICLE ~.
The corporate powers of this company
shall be vested in and exercised by board |
or three directors. consisting of the Presi-
dent, Vice President and Secretary AMI
Treasurer. Two of said board shall consti-
tute quorum for the transaction of bust
ness. and their decisions shall be valid cor
porate acts.
The following persons shall constitute
Ihe first board of directors
j. ) Millikin. President; J. E. Ransden.
ice PRESIDENT; 4. j. Hamley, Secretary
and Treasurer.
During the absence of the president the
Iiee president shall act and preside. The
PRESIDENT. or in his absence, the vice presi.
lent shall be the proper person upon whom
ltation or other legal process shall be
Said board shall continue in Office until
he first Monday in buly (l903) one thous-
nd nine hundred and three, on which
iate ana hereafter annually. board OF d-
ectors shall be elected on the first Monday
Il July OF each year, unless the same should
e regal holiday, when the election shall
e held on the next day thereafter
Notice of said election shall be given tn
acb stoekholder by the secretary in writ
ne, at least ten days prior to each election. :
nd the board OF directors shall appoint one
T more stockh olders to presdes at such
lechon as commissioners. In the event
] the failure of any commissioner or COM !
customers to attend, the president shall.
y appointment. fill the vacancy ANY fail
re by any cause whatever to elect
lreetors the day named for that
urpose shall not dissolve the cor
grafton. but the directors then in
NEE, as well as the officers of said COM
any, shaii hoid over until their successors :
re chosen.
In such event.the president shall cause
lother election to be held in 80 days. and
lall give notice thereof as hereinbefore
rovided.
AT every election and meeting each
oeknoider shall be entitled to vote for
'ch share of stock registered in his name
I'd may vote by proxy
The election of directors shall he nv hal-
and the majority in amount of votes cast.
len snare OF stock voted upon to be counted
T one vote. shall elect the person or per-
ms for whom they We're cast.
After each election the board of directors
All eject from their own number the OFF,
rs oil said company
The board of directors shall have tull
'Wer TO nil vacancies in their number
USED oy death, resignation or otherwise
ON among the stockholders OF the corpor-
ion.
ARTICLE V. Y
The said board shall conduct all the husi-
IS OF TINS corporation, with full authority
ou! sell. lease lands and houses, for cash
on terms OF credit. IN Louisiana and
'eWhere, and to do whatsoever is neces.
~ ana customary in CARRYING out the =
Jects OF this corporation, and il can dele
te any of its powers to an agent or agents co
me SAID board is further authorized to sb
me ana adopt such bylaws. rules and
sniat1ons as the affairs and business of
corporation may require, and as il NAV
EN- necessary tor the conducting and be
ln1aseIieht thereof, provided the same FIJI
~ not conflict Will this charter or with mr. -"
! raw OF tue State or the United States. sh
ne SAID board shall elect or appoint a 81
'retary ana treasurer, and such other ~
-CeIs' agents. employees, servants and 10,
fks as 1t may deem necessary Tor the ~,
Iuucllhg OF the business OF the corpora nf
- ~ ."eii compensation, term OF ser
e, win the right TO dismiss them at said ~;
ar9s pleasure; and said board shall have ! .
rlsht to Tx and determine the salaries ho o
the several officers herein provided for. on
ARTICLE W. ste
ms charter may be changed, modified or ag
ehoeu, the capital stock increased ar de- wi
asSu' OF TINS corporation may be dis ge
we'd at meeting ofthe stockholders con- ait
leo iof The purpose, with assent of three
RUS OF the entire capital stock. whether
sen, OF represented at such meeting.
'otiee OF such meeting shall be served nv
secretary on each stockEolder. in writ j.
!, zen Gays prior TO such meeting. E.
n case of dissolution or terminat;on ~
corporation either by limitation of its 7
rlef or from any cause. the LIQUIDATION tor
Is nllairs shalI La IN H.. - ~