The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1904-05-12
CHAR Err
The Bank of Benton.

lie O0nk OI OCnIOus
State of Louisiana, / BE 1T KNOWN,
Parrish Of Bossier. That on this, the
29th day OF April, in the year 1904, be-
fore me, Robert B. Hill, Deputy Clerk
and ex-officio Notary Public in and for
the Parish of Bossier, State of Louisia-
ma, duly commissioned and qualified, in
the presence of the witnesses hereinafter
undersigned, personally came and ap-
peared the persons whose names are
hereinafter subscribed, who declared
that, availing themselves of the provis-
ionson Of the laws of this State, relative
to the formation of corporations for the
purpose of banking, they do by these
presents covenant and agree and bind
themselves and those whom they repre-
sent, and those who may hereinafter
become associated with them, to form
and constitute a corporation and body
polite in law for the purpose and under
the agreements and stipulations follow
ing:
ARTICLE /.
The name and title of this corporation
shall be BANK OF BENTON. It's domicile
shall be in the town of Benton, Parish
of Bossier, State of Louisiana. Its cap
ital stock shall be $25, 900, divided into
500 shares of $50 each.
The said bank shall commence bust
ness when 100 shares shall have been
subscribed and paid for. The stock of
this corporation not subscribed at the
date of its organization may be issued
by two-thirds vote of the entire board
Of directors, on terms and conditions to
be fixed by said board. The appearers
being stockholders and their places of
residence and the number of shares
owned by each of them respectively
being opposite their names, which said
shares are to be paid for in cash on or
before September l, 1904.
ARTICLE II.
Said corporation shall commence its
existence from the date of these presents
and shall continue for period of fifty
years, unless sooner dissolved by iquida-
ton, and under it's corporate name sue
and be sued, plead and be implicated,
appear and prosecute in any and all
courts of justice here and elsewhere.
The President of this corporation shall
be the officer on whom all citations shall
be served, and in his absence on the
Vice-President or the Cashier.
ARTICLE III.
This corporation is organized for the
purpose of doing a general banking
business under the laws of the State Of
Louisiana, and shall have power to do
all things necessary to carry on gen.
eral banking business not against the
laws Of this State.
ARTICLE w.
This corporation shall be managed by
a board of not less than five, nor more
than fourteen directors, who shall be
citizens of this State, and actual stock
holders of this corporation, to be elected
by ballot on the first Monday in June
each year.
The first Board OF Directors is hereby
declared to be r. E. Wyche, C. H. Irion,
0. R. Denton, P. G.. Pye, J. A. Bum
gardner, j. F. Edwards, B. A. Kelly,
c. o. Gayle and w. H. Scanland, with
G. O. Gayle, President; p. G.. Pye, First
Vice President; r. Z. Wyche, Second
Vice. President, and O. R. Denton,
Cashier.
Said board of directors shall hold Office
until the first Monday in June, 1905, or
until their successors are duly elected
and qualified. A failure to elect shall
not dissolve this corporation, but the in
cumbent officers shall hold over in case
of a failure to elect, until their success
sors are duly elected and qualified. All
elections shall be conducted by ballot
and under the supervision of three
stockholders to be appointed by the
board of directors. The persons receiy-
ing the highest number of votes shall be
declared elected. The said board of
directors shall elect from their number
a President, first and second Vice
President and Cashier.
The board of directors shall have
power to fill all vacancies occurring on
the board.
ARTICLE v.
Said board of directors may make and
ordain such bylaws for the proper man
agement of the affairs of this corporation
as may be necessary and proper, and in
conformity with the laws, and alter and
repeal such bylaws at pleasure. They
shall adopt for the use of this corpora
ton a seal, which shall be the words
"Bank of Benton" Benton, La, en-
closing the words corporate seals
ARTICLE VI.
The stock of this corporation shall be
transferable only on the books of the
association, and will not be transferable
antil all the indebtedness to the corpo-
ration by the person owning the stock
has been paid and satisfied. All stock
in the company shall be liable to it for
any Indebtedness Of the persons owning
said stock, or in whose name it stands
on the book.
ARTICLE VII.
The names of the stockholders, their
places Of residence and the number of
shares held by each of them respectively:
NAMES. SHARES. AMT.
G. o. Gayle, Benton . 10 S 500
r. E. Wyche, Benton 500
w. H. Scanland, Benton S $50
G. H. 1rion, Benton 5 $50
David Wallace, Benton.--.-.-. 2 100
A. F. Montgomery, Benton. l 50
c. B. Prothro, Benton Z $50
]. ]. Crouch, Benton ....-.,........ 2 100