The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1907-07-27

Selma Mercantile COMPANY, Ltd.


Re il remembered, that ON the 81 day OF july
1901. personally came and appeared before me;
u. n Howe a Notary Pnblic IN and Tor salo
n. r,sb and State the parties whose names are |
bereunto subscribed. all Of full age. who de-
cIared that awaiting themselves Of the provl- |
slops Of The laws of the State Of LouisIana re-
I.tive 10 c.,rrurations and especially OF Act No
n; ~ MA and of Act No. 7sof 1874. OF the6enerai
Assembly of Louisiana, they lave cougenanteu
aud agreed and do By these presents convenaht
ard az rec aud bind themselves. as well as such
.,,,,er rersons M may hereafter become associ-
ated with them. To form and constitute BODY
p.iitlc in law. for the purposes aud objects.
aud under the stIpuatIons ARTICLES ana condi-
t,ous follows. to-w't
''"' ''''''' ARTICLE /.
The name and ll.. s.,a eorporat 4, shaii
b.. SELMA MERCANTILE COMPANY,
LIMITED. and its domicIle is hereby estab-
lisised in Selma, Grant Parish, Lonisiaiia' anu
under its said corporate name SAID corporaio'
shall have the power To contract, sue anu ~
sued; TO make and use corporate seal acd the
same break aud alter at pleasure; to hold re-
ceive. and have. purchase. Improve. aiienat~.
convey. sell, borrow. pledge mortgags ana
ypotbecafe, under its sand corporate name.
property real, personal. and mixed; u maxi
n. d appoint such officers. agents. director
managers, employees RS the interest aud con-
yenleDce pf the corporation may rquire; 10
make and establish By claws, rules, and reguia-
tons for the proper management and regnia-
tivn Of its affairs, ss may he deemed necessary
aod proper and the to aitrr anu change Al
pleasure; and to ,to alI :. Their acts aud things
permitted by law. or shall be necessary shd
proper 10 carry out the objects aud purposes oil
this corporatlo,,. SAID corporation. unless
s,on.r dissolved in accordauce with it's charter.
shall exist aud continue for tie perOd OF inuety-
nine years from and after the date hereof
The president. IN hIs absence the wee presi-
dent shall be the proper person upon whom
citation or other T. - n-ors-s shall be- served
ARTICLE ii.
4 The objects anu pa, poses which this Coz
poration is ORGANIZED. and the nature oil the
business to be carried ,,n by II declared to
be- the following, to-wit; To buy and sell ar,
po<is. clothing foodstuffs, groceries. hardware.
and generally, To carry ON a general mercantile
bus,uess ~ all its branches; and for this pur-
pose. 10 acquire iaisis aud property To purchase
or construct OF otherwise acquire. such buiiu-
ip.,s may be necessary for IT'S business, and y
sell same
The capital stU,K vi SAID corporation shall
he TEN THOUSAND tSlu.Vov,UOl DULl.ARS
divided into aud represented by Two Hundred
Shares, OF Fifty Dollars (s5J.0e) par value, each
which raid stock shall be paid for in cash. OF
its equivalent, AT the time of subscription, ol
the same may he ISSUED. at not less than par n
payment or exchange for property or right,
actually received or purchased by said corpora
ton. or the same may he issued. full paid. fol
money advanced and Tor other valuable con
slderations ur services. as the board Of director
of said corporation may determine; provided
that no stock shall be issued until the consider
Htion thereof shall have been received by sait
Any stakeholder may sell. assign, or transfe
his stock IN this corporation, provided hirt'
(sv) days prior notice of snch Intention be elvs!
the company. and the Stockholders thereof shal
have the first privilege OF purchasing the same
After giving thirty days notice, the stock una.
be sold Ia open market
The stock of said corporation may be trnrs
ferred under the above conditions. provide,
sucu transfer thereof be made ON the books o
SAID company ut its office. in Selma Louisiana
and on the surrender OF the certificate thereof
N. trHpsfes of any fractional part Of shnr
shall be made.
1his corporation shall commence doing bust
mess ss soon as three thousand t$s.tN0.0 dollar
uf the capital stock shall be subscribed for AM
paid IN. The board Of directors shall have tn
right 20 determine how much stock shall b
issued.
The corporate powers of this company shall
be- vested in andexercised By a board Of fou
directors consisting OF the President. vice
President, General Manager. and Secretary
TREASURER. Three OF sid board shall constiiui
n quorum for the transaction OF business. M
their decisions shall be corporate acts. tn
board 81 directors shall h lid rs tr~t meetin
Immediately upon the payment into the COZ
.poration Of the Three Thousand Dollars men
TONED above. At this first meeting il shall cleo
the officers 1T the corporation. who shall RENAL
im ofIice until the first Monday in July, 1918. %
which date. and annually thereafter, board q
directors and officers shall be elected. unles
said day shall be legal holiday. in which Gas
the election shall be held on the next legal ds
thereafter. Notice of said election shall b
given by ut least two weeks publication in ON
Off the weekly newspapers published in Colfas
cause whatever Ia elect directors on the da
named for that y rpose shall not dissolve tn
corporation. bnt the directors then in Office a
wall as The officers Q. MID csnpspy' shal. boil
In such event, the President shall cause anothe
election ." be held, within thlrY tso) days, an
shall cause notice thereof 70 be given as here
iuabove provided. The election ot director
shall be BY ballet. and tn. majority in amour
Of votes cast. each hare Of stock voted on to b
counted AS one vote, shall elect the person fo
-. "a. IL al Al.
board of directors shall cleo, from their ow
number the officers Ut said company.
ARTICLE "
The hoard of directors shall have full pOWe
to ill vacancies In their number caused b
death. resignation. or otherwise. from anon
the stockholders of the corporation. They shal
have full control Of ne pro perty Q
manage, and use the same, u
their discretion they deem lit, and that is con
sstent with the objects Of thus company, or th
welfare of the same. The said board is auth
erized To frame and adopt such bylaws rules
aud regulations. the a7alrs of the corpora
ton may require. and ss II may deem necessa
for the management and conduct thereof; pro
vidsd the same shall not conflict with the pro
visions of the charter. or the laws Ut the State
or the United States The said board shall cleo
and cerks rs mns dm
for the conduct If the affairs of the corporation
fix their compensation. term Of service. wit
the right to dism,ss them at pleasure, and sai
board shall have the right Ia fix and de- ermin
the salaries Of the officers beratn provided for.
ARTICLE vi.
This charter MAJ De changed, modified q
amended. the capital stock increased or d.
creased. or this corporation m. be dissolved
at general meeting OF the stockholders c..r
vened for that purpose. with the assent of three
fourths Of the entire capitai stock whett er pref
ent OF represented at the meeting Two week
prior notice shall be- gwen in any weekly news
paper published at Colfax. in Grant parish
Louisiana.
iu case Ut dissolution OF termination of thi
corpora ion by limitation OF its charter or utheI
WISE the liquidation of its affairs shall he cor
Quoted by three commissioners. selected fror
the board OF directors. with like assent. and a
meeting called for that purpose. as above ~
forth in this article. Said com m issioners sha
remain in office until the affairs OF said corpoI
alton shall be fully liquidntrd.
ARTICLE VII
No stockholder of this corporation shall eve