The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1903-06-13
CHARTER
Or THE
LOUISIANA BLACK PRAIRIE
LAND CO., LIMITED.
UNITED STATES OF AMERICA
STATE OF LOUISIANA,
PARISH OF ST. MARY, - 5.
stJS hs
THE

| PARISH OF ST. MAXI - ;. -.
CITY or FRANKLIN
BE it known that on the nd day of June
A. d., 1868. and of the Independence OF til
United States, the one hundred and twenty
seventh, the parties whose names are mere
| to subscribed, awaiting themselves OF til,
| rights and privileges granted by and con
| tanned III the statutes of the state of Louis
| iana. have contracted, coNcuanted ant
| agreed and by these presents do contract
! covenant. and agree and bind themselves a
well as such other persons as may hcreai;e
| become associated With them to form an'
| constitute a corporation or body poi tiles II
| law for the objects and purposes and undcl
the articles and stipulations following, to
! wiz
The name of this corporation shall be The
LOUISIANA BLACK PRAIRIE LAND COM
| PANY, IIMlTED,) of franklin, La, and an
| der its corporate nam" shall nave power
and authority to have ana enjoy success ion
| for the full term and period Of NINETY
NINE years from ana after the date hereof
to contract, sue and be sued, to make anG
use a corporate seal, ana the same to breai,
or alter at pleasure. to hold, receive, least
purchase and convey as we'll as mortgage
and hypothecate property, real, personal
or mixed, corpore;il or incorporcl, to name
and appoint such managers, agents, direc-
tors ana otncr officers rs its business inter
csts and convenience may require, and to
make ana establish, as we'll a. alter and
amend from time to time, such bylaws,
rules and regulations for the proper govern
ment of the affairs of the said corporation
as may be necessary and proper.
ARTICLE H.
The dOn.ice of this corporation shall be in
the City Of Franklin, Parish of &. Mary,
state OF Louisiana, and All citations and 9th
cr legal process shall De served upon the
President of said corporation, or. in the
event of his absence, upon the Nice-presi-
dent thereof, and in the absence of both Of
said officers, upon the Secretary Of SAID cor
porat!On.
ARTICLE III.
The objects and purposes for which this
corporation is established and the nature Of
the business to be carried OH by il are hereby
declared to be to buy, own. convey, lease,
improve, develop improved or unimproved
lands situated IN the State OF Louisiana,
also to construct canals or waterways Tor
the purpose of supplying water for aSricul-
turai purposes and to construct dams, diaes
and other necessary drainage works for the
purpose of draining lands, to promote ilEl-
grafton and to raise farm products, and to
buy and sell the same and to buy and sell,
own, lease construct ana operate mines and
mineral oil wells and to refine and otherwise
manufacture mineral oils and minerals and
their by products and to that end to lease,
own, construct, operate reflnerleS and manu-
factories and to store, warehouse, and trans
port mineral oils for hire by means OF pipe
lines, vessels, bargeS and tank cars anu 10
that end 70 lease, own, control and operate
pipe lines, railroads. tramways, pumping
stations, storage tanks, tank cars, DarSes,
vessels, wharves, warehouses, and generally
to hold and exercise all incidental powers
purposes herein set forth. The corporation
Shall also have power to sell, mortgage, ny
pothecatc and bond any OF it. property, be
It real, personal or mixed.
ARTICLE ".
The capital stock of the corporation is
hereby liked a. the sum OF FIVE HUNDRED
DOLLARS to De divided INTO
and represented by FIVE HUNDRED
shares of stock of the face value
of S1.Ue each, which said stock shall be paid
for in cash at such times and in such
amounts and after such notice to the sub
scribers may be liked by the Board of
Directors and the same may be paid tor in
real or personal property, notes, bonds,
mortgages or any other property which the
Board vi Directors may approve. 1t Is eX-
rr-ssiy understood and agreed however
nat at least Twenty five l25) per cent oil the
capital stock shall be held as Treasury Stock |
which said stock shall be disposed OF by the
Board Of Directors at such times tor cash, |
and III such manner and upon such notice !
and tor suca prices as said Board shall deem |
best and the proceeds thereof shall be used |
for the purpose of defray ing the expenses Of !
the corporation for any corporate purpose |
All stock of this corporation |
shall be full paid and non -assessable, This |
shall be authorized to exercise |
all corporate powers when $l5,0OCOO is sub |
scrlDcd.
ARTICLEv.
al the powers of said corporation Shall be ,
estcd in and exercised by the Board of Di
rectors to be composed of NINE 80 Stock |
holders to be elected annually on the first |
Monday in July in each year. and the nrst !
Board of Directors appointed in this chaiter !
shall mold their offices until the first Monday !
n July 1894 All such elections shall be by .
ballot and conducted at the office of said /
corporation under the supervision of three !
to be appointed by the Board ,
)f Directors. Notice OF such election shall
De given by written notice mailed to each !
member by the Secretary not more than
ourteen nor less than ten days prior to such /
election in one or more newspapers publish
I'd in the City of Franklin, in the state of
lou siana.
Every stakeholder shall be entitled to one
iotc for each share Of stock standing in his
lame on the books of the company, to be
asst III person or by proxy, and Il majority
II the votes cast shall elect. Any vacancy
occurring among the Directors by death,
eslgnation or otherwise shall be filled for
he rcnainder of the term Of the Board by
he remaining directors. failure to elect
directors on the date specified shall not
i'ssoivc the corporation, but the directors
hen IN Office snail remain in office until
heir successors are elected and qualified.
The first Board Of Directors named in this
jnarter snail immediately upon the Orsani-
alton OF this company, and the Board of
directors thereafter elected shall elect from
heir own number President and shall also
lect Secretary and Treasurer who NAV
n may not be member of the Board. The
'Oard Of Directors shall have the power
ther to combine or separate the offices Of
he Secretary and the Treasurer.
SAID Board OF Directors may appoint from
!
nd other employees as they may deem
ecesSary Tor the purposes and business of
aid corporptiou and who shall hold Office at
he pleasure of the Board.
The Board may make and establish as
'ell as alter and amend, any and all by
Tvs, rules and regulations necessary and
roper for the support and management of
ne business and the affairs of the cOrpora-
on. said Board shall have the power and
to borrow money, execute TSort.
ages and create liens, issue notes or other
and generally to do all things
'asonable or necessary tor the proper car
1ing on of the business of said Corporation .
M also to issue and deliver full paid shares
stock for cash, or in payment of labor
one or property actually received by
he said corporation. Each director
iall have authority to appoint in writ
g proxy to represent him at all
ceilings Of the Board. :
ARTICLE VI. T.
Whenever this corporation may be
ssolved, either by limitation or from !
~ other cause, its affairs shall be :
Iuidated by three commissioners to be !
'pOinted from amongst the stock ,.
,lders at general meeting of stock ..
,lders convened for such purpose of |
hich meeting notice shall be given in
e manner and time provided for by
'ticle VII, Of this Charter and major b
Y in amount of the capital stock of said u
mpany represented at such meeting il
all be requisite to elect. Said COM t,
lssioners shall remain in Office until
e affairs of the said corporation shall a