The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1902-07-19
ARTICIE I

I've nT T PATTERSON Brick Company, Limited:
and by this name this corporation shall have
the the term p of ninety nine (Ssj years from the
'''' u '''' A 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.
to appoint such officers, managers and
agents for the management of its affairs asst
may desire; to hold, receive, rent, purchase
and convey, mortgage and hypothecate IN.
der it's corporate name, property both real
and personal; to execute notes and bonds
and to make and sign contracts and to do oil
such other things as may De necessary to
carry out the purposes OF the corporation.
ARTICLE Ill.
The objects and purposes, for which this
corporation is organized and the nature OF
its business is declare to De:
The maxi ing and burning OF bricks OF oil
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 IT,
account and the establishing OF such retail
wards as may be necessary.
The building OF houses ana Otner Duildines
of works in which its products can be used,
or the lending OF money lor 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 q
may be necessary to 40 such things.
The purchase and sale OF sand, lime, NOR.
tar and cement and such other material %
are connected with the building and con-
struction of houses, buildings and public
works.
The use of it's machinery and digging ap.
paratus when not in use in the making Of
bricks, for the purpose OF cutting drains and
u f11,s fnr "a Wi ia eOu
private or private use; and make, execute
and carry out all contracts necessary to do
this thing.
The capital stock of this corporation shaft
be Ten Thousand Nl00oO) Dollars, divided
into one hundred (1OO) shares OF the par
this amount Of the capital stock six thous.
and (s6OO0) dollars or sixty (6O) shares shsll
be known as common stock and four thous.
and $4,000 dollars or forty coy shares shall
be known as preferred stock.
The capital stock, common and preferred
| has been subscribed for by the undersigned
| those who may hereafter subscribe for she
| same, upon the following basis
In the event at any time Of the liquidation
| of the affairs of the corporation the Pre-:
| 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 oil
parties as 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 c2rpo-
| ration no dividends for any year shals be
paid to the common stock until the preferrNd
| stock shall have received . preferential
| dividend of ten per cent. for that year.
| After the preferred stock shall have r.
| ceived this preferential dividend OF ten per
cent for the year in which IL is declared. the
common stock shall receive all remaining
/ dividends up to the amount of ten per cent.
| upon the common stock; and then all e.
manning dividends for that year shall be ID.
| vided equally per share between tho com.
| mon and preferred stock.
The stock OF the corporation, common or
preferred, is hereby declared to be non-es y:
| the corporation at any time to adopt any By:
law or amendment whereby any OF the said
stock shall be made assessable without tho
| unanimous consent in writing OF each share
| holders OF the corporation.
| The board of directors can at any time r..
| tire such amounts Of the preferred stock Of
the corporation as it may deem best. BY
| sending written notice 80 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 -
| common stock and shall be subject to re.is-
i
by the board of directors.
All TN issued stock, common or preferred,
or retired preferred shall be placed to the
| account of the treasurer of the corporation.
| to 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 its bona ode eQui-
| valent in material or labor.
/ Transfers of stock will not be recognised
l
| this corporation by the owner or his duly
authorized 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
| the board of directors to retire the same ct
any time on demand aR41crrv
| All the corporate powers OF this corpora
ton shall be vested in and exercised BY
board of nine directors, stockholders Of the
corporation, elected by ballot annually on
the 4th Tuesday of January of each year ct .
meeting of the stockholders.
Said board shall have the power to Ill Ill
| year, and its members shall hold office until
the successors shall have been elected and
| qualified.
The officers OF the corporation shall bea
a treasurer, who shall be stockholders Ind
directors of the corporation.
The first board Of directors shall be cor.
posed of the following stockholders: Henry
| Hausmann, president; j. p. MuRHah, vice.
president; Sam II. Guyther, secretary and =
| Lee Riggs, treasurer, and Messrs. Wilbur b.
| Kramer, T. b. GOOch, Willie Callen, N. B.
| Trellue and J. s. Perkins.
| ARTICLE vi.
| This charter may be amended. or its CAPT
| tai stock Increased or decreased or the cor.
poration may be dissolved at meeting OF
the stockholders called for such specific puf.
pose, each stakeholder having boon giveh
| written notice through the mail ten dayD
prior thereto of the date and purpose of such
meeting; providing three }ourths Of the
stock present or represented vote anirma.
! lively thereto.
| At all meetings OF stockholders held for
| any purpose, each stakeholder can cast one
vote for each share held by him, whether
common or preferred, in person OF through
| an agent by written proxy.
| ARTICLE VII.
| When for any reason this corporation may
| be dissolved three commissioners elected
by the stockholders, shall take charge Of IT.
| affairs and liquidate the sames and shall 70.
| main in office until the final liquidation OF
the corporation, and any vacancies occur.
ring in their body shall be filled by the re-
No stakeholder Of this corporation
shall be ever held liable for any of the
debts, contracts, and faults of the corpors
alton in any further SUM than the unpaid
balance due to the corporation on tho
shares owned by him; nor shall any in-
| fOrmality in organization have the effect