The Opelousas courier., 1904-08-20

ASSOclhUI.-
soon as seven thousan,r v11uo0) shall have been
subscribed The same to be issued III consecu-
tive instaments, or in one or more successive
series. The said capital stocK shaiL De aiVlueu
into shares of one hundred dollars t$lOO), paya-
Bile In monthly installments at fifty cents per
share. This Association may also fsue palu
up, full paid and permanent STOCK, payable on
such terms as may be hereafter nxed Dy the
bylaws The capital stock Of this Association
may be increased at any future de : by vote
of three -fOurths OF the stOGkhOldeAs at any
meeting called for that purpose oy puDllcatlon
of at least seven days preceding said meeting.
ARTICLE ".
When upon due compliance with the formal
ties required by law. the stock OF this Associa-
tion shall be increased. the original stockhold-
ers shall by preference respectively nave the
privilege Of taking shares in proportion 10 the
shares already held by them, after which all
remaining shares shall be disposed OF at not
less than par value by the board OF directors to
the best advantage and interest OF the Asso-
citation.
All shares shall be payable by monthly in
stallments OF fifty cents. The board or direct-
ors may allow discount Of not less than SIX per
cent per annum upon advance payments on
stock.
Shares NAV be issued by the board of direct
ors as paid stock in payment for property ac
quired by the Association, for payment of labor
done, or for service rendered and accepted,
tWOtnir0S OF the DOafu cOnSonClDS'
ARTICLE VIII.
The non n-payment Of monthly installments on
shares shall subject the owner to an addltonal
liability of five cents per month on each snare,
and a failure to pay such installments for three
consecutive months shall operate as an aDso-
lutte forfeiture of the shares or share owned by
the delinquent, without notice, in favor Of the
- ARTICLE TX
All corporate powers and the entire manage
ment of its business shall be vested in a board
of directors to be composed OF twelve STOCK
holders, seven of whom shall constitute a
quorum, for the transaction of business, each
of whom shall have in his own name at least
three shares of stock. From this board OF dl-
rectOrs shall be chosen by the board the presi-
dent and yice-presdent of this Association.
Said choice to be made at the first meeting OF
each new board.
All checks or drafts for money shall be drawn
by the president, and shall be entered and c0un-
tersigned by the secretary OF this Association.
ARTICLE x.
The following named persons shall constitute
the first board of directors, and so continne to
remain until the first Monday of September,
1905, and until their successors shall have been
elected as herein provided, namely:
Finegan Hams, president; Sam Reed, vice
president; David Locks treasurer; Moses Bor
delon, secretary; VIM. johnson, Edgar Renty
Lawrence C. Simon, as. Ballard Felix Mack, sr
Henry White, H. E. Jones, Robert Rudolphe.
ARTICLE XII.
The board of directors shall be elected by tht
| stockholders by ballot on the first Monday il
September, each succeeding year. Each share
to be entitled to one vote, to be cast by thu
| owner personally, or under his wflHen proxy
to another stockholder, majority of the vote
| cast electng. All vacancies on the board shal
be filed by the board from among the stock
| holders.
There shall be a secretary and treasure
.l11 lrv r +ha u Hhln 1nf
retary shall receive such salary as may be de
termined by the sharehold at their annua
meeting. They shall be removed by the boar
for cause. The treasurer shall furnish bono
with solvent security, for the faithful pei
Torrance of his duties. the amount of the bon
to be fixed by the board, AMI the same to
approved and accepted by them. The treasure
shall deposit the monies of the Association in
bank named by the board OF directors.
ARTICLE XIII.
This charter may be changed, modified @
altered, or this corporation may be dissolve
by and with the express assent OF three-fourtl
of the stockholders at q special meeting.
days previous notice by mail, stating the o'
ject of the meeting.
ARTICLE XIV.
No informality In the organization of tn
charter corporation shall have the effect of al
nulling the charter or expose any shareholdt
to any liability beyond the unpaid balance
his stock.
ARTICLE XIV.
this charter shall be respectively filled unit
the next regular election for same by the IL
lowing named incOrpOratOrs, tO-wit: That
! president, Finegan Hams; Sam Reed, vic
, president; David Locks treasurer; Moses Be
Q delon, secretary, VIM. johnson, Edgar Rent
t Lawrence C. Simon, James Ballard, Eel
Q Mack, sr, Henry White, Robert Rudolphe, Ell.
. Jones.
> And member of this corporation who nj
: ! hereafter wish to withdraw shall communica
his intention to that effect in writing to t
board of directors at least thirty days in q
vance. Any shareholder Withdrawing with
one year after entering the Association mt
a sell his stock to the highest bidder, less his
! rata of expenses for the year. Amy shareholt
q withdrawing one year after entering the as
), citation shall receive only ten per cent OF
q profits Of his share, to be sold with the sto
q as above. Transfers of stock shall only
/. made upon the books Of the Association, a
A. by the issuance OF a new certificate theref
/ for which charge OF ten cents shall be ma
y ARTICLE XVII.
4 All applications for stock shall be presen
I. to the board Of directors for approval.
ARTICLE XVIII.
ls At the dissolution of this corporation
limit OF time, by consent, Or otherwise,
W affairs shall be liquidated under the SUI
70 vision of three commissioners from among
=. 4tOGRnOLQGPS 10 De B6i6CGeu Eur buaG puEpObo
70 the board, who shall have full power to sell
u assets of whatever kind belonging to the Al
y. citation, convey full and complete tiLle there
W receive payment therefor, and generally to
Va and perform all acts necessary for a faitl
" y and complete settlement and liquidation OF
a. a. affairs.
es, Thus done, executed and signed before
W and In the presence Of A. B. Pickett and
go meth Baltic, two competent witnesses.
Ro have signed with said appearers on the
-, -, first above written.
ny All errors and interlineations made hel
es, was noted and approved by all parties be
90 % signing.
on Oriaiaal Signed-S. Reed. p. l.. silaa, NJ
'ne @ Bordelon, David 9. Locks, Henry this K IN
on White, Robert {his x markl RudOlphe, /
To- renee G. Simon, Felix this K mark) Mack
lIsss lIss James Ballard, per L. G. Simon, Fine
sie Hams, Edgar Renty, per Moses Bordelor
,es' E. Jones, william johnson, per +. Hams.
an Attest: A. B. Pickett Kenneth Baill1o.
LUCIUS q. DUPRE, Notary Publ
Opelousas, st. Landry Parish, La.
} In August Q, 1904.
~, Ihave examined the above cha
OF (sEAL and find nothing in it contrary Il
the flaws and eonatifution of this 8
lity I therefore approve the same
IRA Il. LEE GARLAND
Dist. Atty, 18th Judicial Dist Of LOuisia
lon, ALFRED PAvY, Deputy Gle
! by State of Louisiana,
poria ah nF ry