The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1908-02-29

/ Sorrento postoaiee, in the parish of Ascension
state OF Louisiana and it shall have and enjoy
succession by and under its corporate nanae for
period of ninsty-nins years from and after tbs
ARTICLE TWO.
The objects and purposes for which this cor
poaatiQnI is organized and established, and the
nature OF the business to be conducted by 1t are
hereby declared TO be a general cotton ginning
/ BUSINESS general sa#lnill business and gem
eEai corn milling business; to build buy Or lease
and operate cotton gins and their accessories:
5aa2aills and their accessories and corn mills
and their accessories in the parish OF Ascension,
and at such oJaer places as the corporation
might determine; to gin cotton, sew timber and
mill corn for the general public and to charge
and collect fees therefor: to bay and sell cotton
and cotton seed; to buy and lease cotton and
otnef lands and TO sell and let-otit the same; TO
cultivate cotton and other crops on its own
lands and leased lands; to buy and sell 1lIn-
her and timber and timber lands; to nlanutac-
ture timber into lumber and sell the same; to
buy and grow corn and to manufacture 1t INTO
gTits and to sell the same; to make advances on
cotton or other crops growing or to be grown
also on timber and timber lands ana on lumber,
aud generally to do and perform any and all
things that may be requisite and necessary to
carry out the objects and purposes OF this cor
ARTICLE THREE.
This corporation shall have power 10 contract
she and be sued IN its corporate name; to make
and use & corporate seal and the same to
break or alter at pleasure; to hold, lease, re-
ceiye, purchase and convey to mortgage, pledge
and hypothecate property, real, personal and
mixed, corporal and incorporeal; to name and
appoint slch directors, managers, agents and
employees as its business interests and convent
ences may require, ana to make and establish as
well as alter and amend from time to time. such
bylaws rules and regulations as may be neees-
sary for the proper government of the affairs of
the corporation.
\ The president and in his absence or inability
or refusal to act, the vice-presdent shall be the
proper person on whom all citations and other
Oh q fGa zE1p1TflF
ARTICLE FOUR.
The capital stock of this corporation is hereby
fixed at five thousand dollars, $4,000, to be
divided into and represented by five hundred
$500 shares OF the par value of ten dollars tS10)
each. Said stock shall be paid for i'll cash, at
such time in such amounts and after such notice
to the subscribers may be fixed by the board
OF directors; the same may be issued for labor
performed for services rendered or for money or
property received or purchased by the said cor
poratlon, upon such terms and conditions, and
IN such amounts and at such times as may be
decided upon by the board of directors. The
corporation shall be going concern and shall
be aut horized to commence business as soon as
three thousand dollars $4,000 of the capital
stock shall have been subscribed for. No stock
holder shall at any time own in his own name
OF hold more than fifty shares of the capital
stock the corporation.
ARTICLE FIVE.
al of the corporate powers of this corporation
shall be vested IN AMI exercised by d board OF
nine directors to be composed OF stockholders of
the corporation, FIVE of whom shall constitute a
quorum for the transaction OF any and all bust
ness of the CORPORATION. The said board of
directors shall be elected annually, on the first
Monday in February of each year. except the first
board OF directors appointed, named and desig-
mated in this charter who shall hold their Offices
until the first Monday in February 1909 or un-
til their successors are elected and installed.
All such elections Of directors shalEbe by ballot
and conducted at the Offices of the corporation
under the supervision of two commissioners. who
snail be stockholders of the corporation and who
shall be appointed by the board of directors.
Ten days notice of said elections shall be given
by written or printed notices to be mailed
to each stockhoider at his usual postof-
floe address. Every stockholder shall be en-
titled to one vote for each and every share OF
stock Standing in his name on the books of the
corporation, to be cast in person or by proxy
held by other stockholders, and a majority of
the votes thus cast shall elect failure to elect
board OF directors on the date above specified
shall not dissolve the CORPORATION but the di-
rectors then in Office shall remain in Office and
continue to perform the duties of their offices
until their successors are elected and installed,
and another election shall be held as soon as
possible thereafter, of which ten days previous
notice shall have been given as above provided.
The board of directors shall at their first meet
ing after election, elect from their number d
president, q yiee-president, 3 secretary and
treasurer, who shall hold their respective offices
for the term OF one year until their successors
are elected and installed.
The board of directors shall also have power
and authority to make and establish as well rs
alter and amend bylaws, rules and regulations
necessary III the conduct and management of
the business OF the corporation; and the said
board Of directors shall have full power to
borrow money, execute mortgages and create
liens issue notes, bonds or other obligations,
and generally to do and to perform all things
necessary and lawful for the proper carrying on
Of the business OF the corporation, and also, as
shove provided, to issue and deliver full paid
shares of stock of the corporation, for cash, or
in payment OF labor performed, services rendered
or property received, upon such terms and con-
GitIOnS as 1t may see lit.
any vacancy occurring among the directors
shall be filled by the remaining directors.
ARTICLE SIX.
Transfers of stock shall be made upon the
books of the corporation by the stakeholder in
person or by his duly authorized agent or at
tofney, and no transfer of stock shall be adj
Tnitted or held to be valid or binding SO far as
the corporation is concerned unless made on the
books of the corporation; and no stockholdef
shall dispose Of his stock to another stakeholder
or 10 an outside person until he shall have Of
fered the said stock for sale to the corporation
at the book value thereof
ARTICLE SEVEN.
No stakeholder shall ever be held liable nor
responsible for the contracts faults Of the said
corporation in any further sum than the unpaid
balance due to the corporation on the shares
in organization have the effect Of rendering this
charter null or of exposing any stakeholder to
any liability beyond the unpaid amount due ON
the shares Of stock subscribed for by him.
ARIlCl4E E1GHI.
The capital stock of this corporation may be
increased, or the act of incorporation may be
altered or amended, or the corporation may be
by three-fourths of the capital stock,
at a general meeting OF the stockholders con-
Yened for that purpose of which forty days
previous notice shall have been given by ptbli-
cation in one newspaper published in the parish
of Ascension, and by written or printed notices
mailed to each stakeholder at his usual post
- ARTICLE NINE.
st the expiration of this charter. or in the
event Of the prior dissolution of the corporation,
its affairs shall be liquldated by three COM
riissoners who snail be elected by the stock
holders of the corporation at the meeting at
which it is decided to liauidate. The duties OF
the said commissioners shall be defined and
their compensation fixed by the stockholders,
and they shall continue in Office until the Iqui-
dation of the affairs of the corporation shall be
Yss'z,,s ARTICLE TEN
The following named persons shall constitute
the first board of directors of the corporation
and shall serve until the first Monday in Febrn-
airy 1903, or until their successors are elected
and installed: r.. NJ. Johnson, William Lee
Blanc c. S, StIckey, Joseph Trabeau, James
AIeAlister. Wallace Trabeaa, Felix Leblanc, E.
C. Causey. c. V. Albriton. r. NJ. johnson shall
be president, William Leblanc shall be vice
president, G. s.stuckey shall be secretary and
Joseph Trabeau shall be treasurer.
The ncoFporatoTs, whose names are affixed to
this act. have and do By these presents sub
segibed for the number of shares of the capital
stock os this corporation set opposite their
said names.
Thus done and passed in the parish of As
cerlsion state of louisiana on this 18th day of
February, 1908 in the presence of Edwin J.
Leroy and Anatole j. Esneault, lawful and
competent witnesses. who together with said ap
bearers and me- notary, have signed these pres
ents after due reading of the whole.
C. S. stuckey, Burnside. La. ten shares. $100.
=. C. Causey, per G. S. Stuekey, Burnside La,
twenty-five shares, $3.50.
AIorris Refine. per C. S. stackey, Sorrento La,