The Opelousas courier., 1902-08-30
RI f r.
Or THE
SUNSET DELINTING And COTTON OIL
COMPANY, LIMITED.
STATE OF LOUISIANA,
PARISH OF ST. LANDRY,

COMPANY, LIMITED.
STATE OF LOUISIANA
PARISH OF ST. LANDRY. 5
Be it known, That on this 9th day of August.
in the year of our Lord one thousand nine nun
dred and two, before me, Alfred Pavy, a no
tary public, in and for the parish OF ST. Landry,
State of Louisiana, duly commissioned ana
qualified, and in the presence OF witnesses
hereinafter named and undersigned, personally
came and appeared the persons whose names
are hereunto subscribed, who severally de-
clared, that availing themselves OF the proyls-
ions of the laws of the State of Louisiana on
the subject Of the formation of corporations,
and particularly Act No. So of the session of
1888, approved June 30. 1883, they have con-
tracted and agreed, and by these presents dc
contract and agree, and bind themselves ana
their associates and successors to form, and by
these presents they do form a corporation for
the objects and purposes, ana under the terms,
stipulations and limitations hereinafter SET
| forth, to wit. that is to say:
Article /. The name and title OF this cOrpoF-
alton shall be the Sunset Delinting and Cotton
Oil Company, Limited, and by that name SAID
corporation shall have power and authority to
exist and enjoy succession for the full term and
| period of 90 (ninety-nine) years from and after
the day and date hereinabove; to contract, sue
and be sued; to mako and use a corporate seal,
and the same to alter at pleasure; to hold aud
receive and purchase, as we'll as to mortgage
| and hypothecate property, real, personal ana
mixed; to issue bonds; to name and appoint
such managers, directors. officers and agents
as the interest of said corporation may require,
and to make and establish such bylaws, rules
| and regulations for tho affairs OF said corpora
ton as may be necessary and proper, and the
| same to alter and change at pleasure.
Article 2. The domicile OF said Corporation
shall be at or near Sunset station, parish or ST.
| Landry, and all citations or other legal pro
cesses shall be served upon the President OF
said corporation, and in ease of his absence
| upon the Secretary thereof.
Article 3. The objects and purposes for which
this corporation is established, and the nature
OF the business to be carried on by it, are here
by declared to be as follows. to wit: go,
To acquire by purchase or lease, or TO bllid
| and equip, and the same to operate, works for
the delinting of cotton seed and for the manu-
facture of oil, Oil cake, meal, fertilizers, soaps
and any and all articles or commodities nf
trade that can or may be made or distracted
from cotton seed or other products of an Olea-
| ginous nature; the purchase and sale OF all such
articles either in raw, manufactured or refined
state; and to these ends and for such purposes
to establish and conduct and acquire by lease
or purchase, and operate such works, machln-
cry, apparatus and manufactures with all nee
essary real estate and buildings, letters patent
or inventions and personal property as may be
deemed requisite for the purpose aforesaid.
To acquire by lease or purchase, and the
same to own and operate, one or more steam
boats, vessels or other water crafts as may be
requisite, convenient or necessary for the stor-
ing, carrying, handling or delivering the prod
| ucts and property OF the said corporation, and
to facilitate It's bushes and transactions, and
to do whatever else may be necessary or peril
nent or in any wise incident to the aforesaid
objects and purposes.
Article 4. III authorized capital stock of
said corporation is hereby fixed at the sum of
one hundred thousand dollars (s10O, 00o), divid-
ed into $1,000 shares at par value of $40 each,
which aid stock shall be paid for at the rate of
five per centum Is per cent? at the time of the
subscription and the balance as follows: ten
per cent on the first (Ist) of November. 1902; ten
per cent on the first ust) of December, 1902; fiji
teen per cent on the first Qst) day of January,
1908; thirty per cent on the first (ist) day of
| --n,1 TnnO nnA fhtafr nu mood ~, tIn
first Qst) day OF January, 1904; and for the
credit portion or deferred payments, stock
holders will furnish personal notes to repre-
sent same. Said stock may be issued at not
less than par in payment OF property actually
received or purchased by said corporation, or
for labor done; and the co: poration shall com
mence business as soon as the sum of ten thou
sand dollars $50 ,000) of its capital stock shall
have been subscribed for.
No individual firm or corporation shall own
at any time more than twenty-five per cent of
the stock issued at that time, and the secretary
is prohibited from issuing stock to any indivi-
dual firm or corporation Tor more than twenty
five per cent Of the stock issued at the time.
Article s. All the corporate powers of said
corporation shall be vested in and exercised
by a board of directors to be composed of nine
() stockholders, of whom at least a majority
must reside in the parish of st. Landry, which
board shall be elected annually on the second
Monday of May in each and every year begin
ming in the year 1903. All such elections shall be
by ballot and held at the office of said corpora
ton under the supervision of two ~ commits
sioners appointed for that purpose by the
board of directors, of which election thirty
days prior notice shall I've given by publication
in any newspaper published in the city of Opel
ousas, La. Each share of stock shall be Ell
titled to one vote, to be cast by its owner either
by proxy or i'll person at the election, and the
person receiving the greatest lumber of votes
at the election shall be the directors. The fail
ure to elect directors on the date above spcci-
fled shall not dissolve the corporation, but the
then incumbent directors shall call another
election. to be held within thirty 500 days,
whereof ten days prior notice shall be given in
a newspaper published as aforesaid, and all
officers shall hold over until their successors
are elected and qualified. Vacancies occurring
in the board OF directors during the year shall
among the stockholders, and five directors
shall constitute a quorum for the transaction
OF ordinary business.
AT the annual or other election of the board
of directors, the stockholders, by ballot at the
said election, shall elect u president, O vice.
president, a treasurer and secretary. The per-
sons receiving the largest number of votes for
those respective offices shall be declared duly
ele cted. The president and vice-president shall
be members of the board of directors. No one
shall be a director who does not own, IN his
own name, stock to the amount of one hundred
dollars, free and unp1edged.
The said board OF directors shall or may ap-
point, from time to time, and dismiss at pleas
ure, such officers, managers, clerks, agents and
other employees as may be deemed necessary
for the purpose and business of said corpora.
ton, and to fix and change their salaries. The
/ secretary HIhy . U0 AAIOluGtSk lLHItXtT,
The said board of directors shall make and
establish, as well as change, alter and amend,
from time to time. as they may see proper, any
and all bylaws. rules and regulations not incon,
sistent with this charter, and which they may
deem requisite for the business and manage
ment OF the affairs of said corporation.
They shall have power and authority to con-
tract debts, borrow money, issue notes and
mortgage bonds, execute mortgages to secure
the same, and to pledge said notes and mort
gage bonds, and generally do all that is perth
nent or conducive to the objects and purposes
Of this organization.
Article 8. All checks, drafts, notes, bonds,
bills, or any other obligations of this corpora
ton issued in pursuance to this charter, shall
be signed by the president and countersigned
by the secretary. And all officers of this cor
p~oration who shall be entrusted with any FUNDS
belonging to this corporation shall furnish
bonds in such amounts as ma be determined
upon by the board OF directors and to be Sc
cured to their satisfaction.
Article Z. Transfers OF stock shall be made
on the books of the corporation upon the sur
render of the stock certificates in the presence
of the secretary, who shall attest all transfers
and issue new certificates of stock in lieu OF the
ones surrendered.
if any be due on the transferred stock, and all
certificates of stock shall be signed b. the pres
ident and secretary OF this corporation and au-
thentieated by Its seal, and shall have written
or printed across them tho words: Not trans.
/. ferabie except on the books of the corporation,
as per Art. VII Of the charter.
Article 8, The secretary and treasurer shall
make a statement of the affairs of the corpora
ton to tho board of directors at such tino as
the latter may provide by its bylaws, and said
board of directors shall declare such dividends
as may be warranted by the results of the bust
ness Of the corporation. or shall do with the
said earnings as they may deem best for the
general interest.