The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1903-06-20
CHARTER
LOUISIANA BLACK PRAIRIE
LAND CO., LIMITED.
OF THE
UNITED STATES OF AMERICA.
STATE OF LOUISIANA,

PARISH OF ST. MARY, 5. :.
CITY or FRANKLIN,
| BE ii known that on the nd day of June
A. d., 1903. and of the Independence of the
United States the one hundred and twenty
seventh. the parties whose names are mere
| to subscribed, awaiting themselves OF the
| rights and privileges granted by and con
tanned in the statutes of the state Of Louis
| lana, have contracted, coVcnanted ana
| agreed and by these presents DO contract
| covenant, and agree and bind themselves As
| well as such other persons as may hereafter
| become associated with them to form and
| constitute corporation or body politics in
| law for the objects and purposes and under
the articles and stipulations following, to-
| wit:
| The name of this corporation shall be the
LOUISIANA BLACK PRAIRIE LAND COM
| PANY, LlMITED,) of Franklin, La, and I'M
| der its corporate nam" shall have power
| and authority to have and enjoy succession
| for the full term and period of NINETY
| NINE years from and after the date hereof,
TO contract, sue and be sued, to make ana
| use corporate seal, and the same to break
| or alter at pleasure; to hold, receive, lease,
! purchase and convey as well as mortgage
| and hypothecate property, real, personal,
| or mixed, corporal or incorpOrtal; to name
| and appoint such managers, agents, direc-
tors and otner officers rs its business inter
| csts and convenience may require, ana TO
| make and establish, as we'll as alter and
| amend from time to time, such bylaws,
| rules and regulations for the proper govern
| ment of the affairs Of the said corporation
| ARTICLE III.
| The domcle of this corporation shall be i'll
| the City of Franklin, Parish of st. Mary,
| state of Louisiana. and ali citations and 9TH
President of said corporation, or, IN the
| event of his absence, upon the Nice-fresi.
| dent thereof, and in the absence of both OF
| said officers, upon the Secretary OF said cor
ARTICLE Ill
The objects and purposes for which this
zil.,1 fh.aI aAt
| the business to be carried on by it are hereby
declared to be to buy, own. convey. lease,
| improve, develop improved or uniInprOved
lands situated in the State OF Louisiana,
| also to construct canals or waterways for
the purpose of supplying water for agrlcul-
| tural purposes and to construct dams, dlkes
anG other necessary drainage works for the
| purpose OF draining lands, to promote lIni-
| 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 retineries and manu-
factories and to store, warehouse, and trans
port mineral oils for hire by means OF pipe
lines, vessels, barges and tank cars and TO
that end to lease, own, control and operate
pipe lines, railroads, tramWays, pumping
stations, storage tanks, tank cars, DaIges,
vessels, wharyes, warehouses, and generally
to hold and exercise all incidental powers
and privileges as relate to the objects and
purposes herein set forth. The corporation
shall also have power to sell, mortgage, hy-
pothecate and bond any OF its property, be
1t real, personal or mixed.
The capital stock of the corpocation is
hereby fixed a: the sum of FIVE HUNDRED
THOUSAND DOLLARS to be divided lpto
THOUSAND shares of stock OF the face value
of Sl.uo each, which said stock shall be paid
for in cash at such times and i'll such
amounts and after such notice to the sub
Scribers may be fixed by the Board of
Directors and the same may be paid for in
real or personal property, notes, bonds,
mortgages or any other property which the
Board Of Directors may approve. 1t is ex-
lressly understood and agreed however
that at least Twenty five t25J per cent OF the
capital stock shall be held as Treasury Stock !
which said stock shall be disposed oil by the |
Board of Directors at such times for cash, |
and in such manner and upon such notice |
and for such prices as said Board shall deem |
best and the proceeds thereof shall be used |
for the purpose of defraying the expenses of |
the corporation for any corporate purpose |
whatsoever. All stock of this corporation
shall be full paid and non -assessable. This |
corporation shall be authorized to exercise
all corporate powers when Slo.o0O0O is sub
scribed.
ARTICLE
All the powers of said corporation shall be
vested in and exercised by the Board of Di-
rectors to be composed Of NINE 90 Stock
holders to be elected annually on the first
Monday in July in each year, and the flrst
Board OF Directors appointed III this chatter
shall hold their offices until the first Monday
in July 1904 All such elections shall be by
ballot and conducted at the Office of said
corporation under the supervision of three
commissioners to be appointed by the Board
OF Directors. Notice OF such election shall
be given by written notice mailed to each
member by the Secretary not more than
fourteen nor less than ten days prior to such
election in one or more newspapers publish
Cd IN the City OF Franklin, in the state of
Louisiana
Every stakeholder shall be entitled to one
vote for each share of stock standing in his
name on the books Of the company, to be
cast III person or by proxy, and Il majority
ct the votes cast snail elect. Any vacancy
occurring among the Directors by death,
resignation or otherwise shall be tiled for
the remainder Of the term OF the Board bv
the remaining directors. failure to elect
directors on the date specified shall not
dissolve the corporation, but the directors
then IN Office snail remain in office until
their successors are electet. and qualified
The first Board of Directors named in this
Charter shall Immediately upon the Organi-
Iation OF this company, and the Board of
directors thereafter elected, shall elect from
their own number a President and shall also
elect Secretary and Treasurer who may
or may not De member of the Board. The
bQard OF Directors shall have the power
either to combine or separate the offices of
'he Secretary and the Treasurer.
Said Board OF Directors may appoint from
inie TO time, such officers, clerks or agents |
inu other employees as they may deem s
necessary for the purposes and business of
'aid cOrporptiOu and who shall hold office at | 1
he pleasure of the Board.
The Board may make and establish as
veil as alter and amend, any and all by
avs, rules and regulations necessary and
proper Tor the support and management of /
he business and the affairs of the corpora
ION. said Board shall have the power and
to borrow money, execute lcort.
ages and create liens, issue notes or other
and generally to do all things
easonaDle or necessary for the proper car I
wing on OF the business of said corporation l
nd 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
ball have authority to appoint in writ
lg proxy to represent him at all
leetiDgs of the Board.
ARTICLE vi.
Whenever this corporation NAV be 0
issolved, either by limitation or from p
ny other cause, its affairs shall be Il
by three commissioners to be a
ppointed from amongst the stock 81
olders at general meeting of stock n
Clders convened for such purpose of p
hlch meeting notice shall be given in st
he manner and time provided for by "
rticle VII, of this Charter and major. tt
y in amount Of the capital stock of said OF
,mpany represented at such meeting OF
lall be requisite to elect. Said COM 81