The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1902-06-28
CUAk En.
STATE OF LOUISIANA, !
PARISH OF ST MARY.


| hereinafter named and undcrsi4.., person
ally came and appeared the several person
| whose names are hereunto subscribed. wh'
| seycrally declared that awaiting themSelve
| of the provisions of the laws of this state
| relative to the formation of limited liabil
ity corporations and bodies politics, they dc
| and do by these presents form themselves
| associates and successors form themselves
| into 4 corporation and body politics under
| the following conditions, to-wit
| ARTICLE /,
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 tor
| the term of ninety nine $50 years from the
| date of this act.
| ARTICLE II.
| The domiciic of this company shall be IN
I Patterson. st. Mary parish, La, and all eta
| tions and other legal processes shall be
| served on the president or in his absence
upon the vice prcsident, or in the abSenc.
of both upon the secretary.
1t shall have power to contract, to sue and
to be sued, to make and change at its pleas
urc such rules and bylaws for the manage
ment of its business, as it may deem proper
to appoint such officers, managers and
| agents Tor the management Of its affairs as it
may desire; to mold, receive, rent, purchase
and convey, mortgage and hypothecate I'M
der its corporate name, property both real
ana personal 10 execute notes and bonds
and to make ana sign contracts and to do all
such other things as NAV be necessary to
carry out the Purposes of the corporation
ARTICLE III.
The objects and purposes, for which th
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
various commercial products from clay.
The sale both wholesale and retail of all
clay products and bricks, whether manu-
factured by the corporation or bought for its
account, and the establishing of such retail
yards as may be necessary.
hal iI,l
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 cx-
ecute and carry out all such contracts as
may be necessary to do such things
The purchase and sale of sand, 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 i'll 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 "
The capital stock of this corporation Shall
be Ten Thousand (Sl0000l Dollars, divided
into one hundred (IO0) shares of the mar
value of one hundred (Sl00J dollars each of
this amount of the capital stock six thous-
and (S60O0) dollars or sixty 900 shares shall
be known as common stock and four thous-
and $4,000 dollars or forty (40) 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 by
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-
ferrcu 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 making an estimate
of the value of the same, the book value of
the capital stock shall be accepted by al.
parties as basis of settlement.
Whenever the board of directors shall
deem tit 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 q 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 remainin ing
dividends up to the amount of ten per cent
upon the common stock; and then all re.
main ing 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
nniInrn Of tho cornar,.ian Ing VI c'ch sildfe'
Tic Inird of dirpnct"rs ,.n,,
~ 80" y, ~ ~ 70 81 eali 1T any time re-
~ ~ sun n,iiuu'o u .uc preferred STOCK or
snna ~ 20, itt DIS ~ may ueem pest, by
- 49, q :" hId .'ot'oc ou ua9S ~ advance
stonL il 49, W W 49,. hnoi9ers' whose
bin 70 thn,1 thn 80 ~ I anu paying 10
nrnri ~ w. IN IN ouuA oaauo oi the STOCK
t - $780, h i,y 20, ?.loIe any pre-
paid its preferential dividend of ten per cent
before being retired at its book value.
80; e.. ~ sIoCh nus ietiIeu snall De
i9uSu w III - ~ ~ 'he coi poIation as
, StoSn a aiia! uc sunIect 10 re,ls-
Hr ~" hoanI 81 dironto d. i'o luii pooh Falue
ny iic e.. po ; W u .t.il
Ai IN iSouet 49, ouoeh' Eohiiiion OF preferred,
W ITu.ou - Leu, snall oe placed 10 the
az 10 o VI .'iS VI Tue corporation,
and such stock shall be- entitled ~ No onn
ing profits or dividends. while thny are in
this condition. ' 49, "
No stock. common or nreferrad sb., ho
issued cXcept for cash or its hona i'd nln ~
yalent i'm material or labor NV ei"'
Transfers of stock win not no recoon;vod
until notice of the same has been uiSan ~
this CORPORATION bv the owner or Rs H,iv
authorized agent, and such transfer has hean |
made on the books of the cornoratinm ' "9eh
All transfers of preferred stock shall no |
made and accepted subject to the right Of |
the board of directors to retire tho sa7na ~ |
any time ON demand. ~
ARTICLE
A., ,,.or,,ou..o -.
M ny ~ pOa.0 Po"ei VI tHs CORPORA
iioni 1iiet, ~ 1Sa.Su III anu 1Aeleiseu ny
ooaio ". my ulitel3Is, StoGhHoloers or the |
~ P,ti NJ @ - uy oaiiCl anhually on