The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1907-08-17

Selma Mercantile COMPANY, Ltd.
STATE OF LOUISIANA. I


Be il remembered, that ON the 81 day OF July
1901, personally came aud appeared before me;
T. s. Howe. Notary Public W and for SAID
bereunto subscribed. all of full age. who de-
cIared that awaiting themselves VI the row.
sions Of the laws of the State Of Louisiana re-
vi OF ISs and Of Act No. 7sof 1904, Of thetienerai
Assembly of Louisiana, they have convenanseo
and agreed and do by these presents convenant
and agree and bind themselves. as we'll AZ sucn
other persons as may hereafter become nssoci-
ated with them, to form and constitute Douy
politic in law, for the purposes and obJects'
and under the stipulatlons, articles and condi- /
tons follows ''-x ARTICLE
The name and tue q ssid corporation shsii
b. SELMA MERCANTILE COMPANY.
LIMITED" and its domiciie ls hereby estab, |
iisi,ed in Selma. Grant Parish, Louisiana; and
under it's said corporate name said corporation
shall have the power To contract, sue ana De
sued; 10 make aud use curporate seal. and the
same To break and alter nj pleasure to hold, re-
ceive. and have. purchase. improve. aiienate:
ypotiecate. under 4ts said corporate name.
property. real, personal. and mixed; T. make
ard appoint such officers, agents. directors
managers or miloyes, the interest aud con-
ysniepce Of the corporation may rquire; 10
! make and establish by-laws, rules, and reguia-
| tions for the proper management anu reguia-
/ tiou of its affairs, as may be deemed necessary
| and nr.,pr and the same 10 uit.r aud change al
plensure; and to do all = Their arts aud things
| permilted by law. or as shall be necessary and
| III
| ,his corporation. Said corporation. unless
,,,u,r sil resolved in accordaDce with its charter.
shall exist aud continue for the period OF ninety
nine years from aud alter the date heredf
| The president or IN his absence the vice presi-
dent, shall be- the proper person upon whom
citation or other legal process shall be served
| ARTICLE Ill.
The objects and purposes for which this COT
| marathon ~ orsanIzesi. and the nature OF the
business to be- carried .,n by il, are declared to
Ia fI,e f.llowiug to-wit: To buy and sell DIR.
,oo.Is clothing. footistuffs groceries, hardware,
| and generally to carry ON q general mercantile
business in all its branches; and for this pur-
or col, truct otherwise acquire. such build
ings may be necessary Tor It's business ana !"
\ sell same. <,
The capital stock Of said corporation shall
be TEN THOUSAND .(SluUOo,Ol DOLI.ARS
divided into aud represented by Two Hundred
winch SAID stock shall be paid for in cash, OF
its equivalent, at the time OF subscription, 81
the same may be issuei. at not less than par IN
payment or exchange for property or right
nc;nsily received or purchased by said corpora
lion. or the same may be issued. full pad, fO
money advanced and for other valuable con
sidcratious or services. ~ the Dsmru OF uirecioI
p | Of said corporation may determine; provided
| that NO stock shall be issued until the consider
vi alton thereof shall have been received by salt
corporations.
!. his stock IN this corporation, provided 'hirt
ta) days prior notice Of such inteution be give!
4 the company and the stoc kn''iuers tnereoi shal
have the first privilege Of purchasing the same
r. After giving thirty days notice, the stock ma
: be sold in open market
The stock of said corporation may be trans
:, ferred under the above conditions. provide
sucn transfer thereof be made on the books q
p sad company at its office. in Selma Louisiana
= and an the surrender Of the certificate thereo
: M trunsfer If any fractional part OF 4 shaI
! Tms,corporation shall commence doing bus
ness NJ soon as three Thousand ($sun0l dollaI
oh. bn ika<ff 1pn
maid in. Tie hoard of directors shall have u
l. right 10 determine how much stock shall
as issued. .pr,orv,v
/, The corporate powers of this company sha
:. be vested in and exercised BY q board OF fo'
~ directors consisting OF the President, VIC
~ President General Manager. and Secretar
r. Treasurer. Three Of id board shall constitu
e. a Quorum for the transaction OF business. a.
4 their decisions shall be corporate acts. ~
=, beard of directors shall hid is first meetiI
ed Immediately upon the payment into the ca
.s pnration of the Three Thousand DOLLARS me
N. TONED above. At this first meeting il s!sll Gle
=, the oficers Of the corporation. who shall roma
~, In office until the first Monday in July. 19u8
as which date and annually thereafter, board
nv directors and officers shall be elected. uule
~ said day shall be a legal holiday. in which ca
the election shall BIZ held ON the next legal d
thereafter. Notice of said election shall
Lr- given by ut least two weeks qualifications 10 Q
Grant parish. louisiana Any failure from a
. cause whatever to elect directorr on the d
named for that p. rpose shall not dissolve
reruorntion hut the directors then in office.
go | we'll as the officers Of said company. shall hs
70 office until their successors shall b. chuse
ne In such event, the President shall cause anOti
ri election to be- held, within thriy tSU) days. a
ii shaIi cause notice thereof to be &iven as he
W inHboye provided. The election OF directs
x shall be by ballot and the majority in mm"r
nf ~ votes cast each hare of stock voted on to
Ir counted as one vote, shall elect the person
~ whom they are cast. After each election,
10 board Of directors shall elect from their o
N number the Officer SR e eli EeTVmpany'
The hoard Of directors shalt have full pow
ry To- fill vacancies in their number caused
Oh death. RESIGNATION: or otherwise from amc
~ The stockholders Of the corporation. They sh
~ have full control OF the pro perty
the company, and shall SO condu
M their discretion they deem tt and that is O
~" ~, | sstent with the objects Ut this company, or
w welfare Of ths same. The said board is an
% orized to frame and adopt such by:laws rI
mi and rerulatious az the affairs Of the corpu
~, ton may require. and as 1t may deem necess
w for the management and conduct thereof; .
90 vitltd the same shall not conflict with the
M visions sf the charter. or the laws Ut the st.
W. ~, or the United States The said board shall Ell
w or appoint such officers. agents. and emplo,
~ Tor The conduct Of the affairs Of the corporati
w fix their compensation, term OF services, v
the right to dlsmiss them at pleasure. and 6
m the snIaries of the officers herein provided fO
-" ARTICLE vi.
w This charter mHy be changed, modified
by amended, the capital stock increased or
l,ss- creased, or this corporation my be dissol'
ut general meeting OF the stockh0iders
'or vened for that purpose. with the assent OF IN
Mr.. fourths Of the entire capitat stock whether
emit or represented at the meeting Two VI
prior notice shall be gwen in any weekly NJ
paper published at Colfax. in Grant pal
ACE. Louisiana.
In case IT dissolution or termination OF
corporation by limitation OF its charter or Ut
wise, the liquidation Of its nfiairs shall Dc
xM dncted by three commissioners seleeted
y" the board OF directors. with like ascent: IN
meeting called for that purpose, Ne abov
furlh In this article. Said com missioners .
In remain in Office until the affairs Of said cor
eme alton sn"ii oe 'ui A{RTiiCiEVii.
the No stockholder Of this corporation shall
he hell liable or responsible Tor the cont