The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-07-02

make and use a corporate seal, and the
same to break and alter at pleasure; to
hold, receive, purchase, convey, ALLEVIATE,
borrow pledge, mortgage and hypothe-
cate under its corporate name property
real, mixed or personal-to name and
appoint such officers, managers, agents
and employees as the interest Of the
corporation may require; to make and
use such bylaws, rules and regulations
for the management of the affairs as may
be deemed necessary and proper, and
the same to reasonably change at pleas
ure, and to do all other acts and things
permitted by law that may be necessary
and proper to carry out the objects and
purposes for which this corporation is
organized.
ARTICLE II.
The domicile of this corporation is
hereby fixed and established at Plain
Dealing, Parish of Bossier, La. The
President, or in his absence the Vice
President, Secretary or Treasurer, are
the officers upon whom all legal pro-
cesses shall be served.
The officers of this corporation shall
consist of President, Vice-President,
Secretary and Treasurer, but the
Office of Secretary and Treasurer may be |
filled by one and the same person. The |
Treasurer, if the Board of Directors
shall so require, shall give bond in such
sum as the Board Of Directors mey de-
termine. Said officers shall be stock |
holders in said corporation, and shall be |
elected annually, in such manner as may
be determined, by vote of the stock
holders and set forth in bylaws govern
ing the election of officers, and they
shall serve until their successors are |
elected. However, said officers shall be |
subject to removal at any time by said
Board of Directors for good cause shown.
ARTICLE III.
The objects and purposes for which
this corporation is organized and the
business to be carried on by it are de-
clared to be the following, to-wit: To
establish and maintain cotton yards, |
warehouses and other plants for hand
ling cotton or other farm products, and
to do general warehouse business in
all its branches, and particularly to store
cotton and cotton products, as well as
all other farm products, and to conduct
general brokerage and commission busi-
ness in all farm products and supplies;
to aid farmers to hold their products and
to market same advantageously in times
of financial stress or depressed prices,
and to assist in obtaining loans and adj
vances on all farm products, and for that
purpose to act as agent or trustee for
either borrower or lender; and to issue
certificates, negotiable or otherwise, to
persons warehousing goods with the cor
poration, and to make advances on the
security OF such goods or orthrwise, and
generally to hold and exercise all such
incidental powers and privileges as
relate to the objects herein set forth.
ARTICLE w.
The capital stock of this corporation
shall be $1,000, divided and represented
by 600 shares of S. each, and as soon as
the said amount of stock has been SUBJ
scribed fer and $50 has been paid in
this corporation shall be authorized to
begin business, (no stakeholder to own
over twenty-five shares Of stock.)
ARTICLE ".
The corporate powers Of this corpora
ton shall be vested in a Board of Direc-
tors to be composed of five persons, all
of whom must be stockholders in said
corporation, majority Of whom shall
constitute quorum.
The stockholders shall hold regularly
annual meetings, the date of which shall
be fixed by the bylaws Of said corpora
ton. AT these meetings the stock
holders shall transact any business COM
| ing before them, and shall elect Board
of Directors for the ensuing year, all
directors and officers to be elected in
accordance with such rules and regula-
tons as shall be set forth in the bylaws
Of this corporation, and all other matters
to be determined in accordance with
said bylaws.
The first Board of Directors shall be
G. T. Mays, President; S. P. Johnston,
Vice-President; A. Hoffpauier, Secre-
tary; J. A. Lowe, Treasurer and DIR.
|. S. Arnold, who shall hold Office until
their successors are elected.
1t is especially understood that in the
event of failure on the part of the stock
holders to hold their regular annual
meeting, or for any cause to fail or neg
lect to elect new Board of Directors, it
shall in no wise effect the corporate acts
of this corporation. The old board
always to hold over until the new board
is elected and organized.
ARTICLE vi.
This charter can be changed, amended
or dissolved by two-thirds vote of the
stockholders at meeting called for that
purpose.
Should this organization become dis
solved by a vote of its stockholders it's
affairs shall be liquidated by the Board
OF Directors, acting as liquidating
board.
ARTICLE VII.
Shares of stock can only be trans
ferred by having the transfer recorded
on the books of the corporation, and no
transfer can be made until any unpaid
balance thereon shall have first been
paid.
When it is needful that the stock sub
scribed for by the stockholders shall be
paid in the corporation, or any part
thereof, the Secretary and Treasurer
shall give written notice to each sub
scriber OF the amount of his subscription
/ that is called for by the corporation
/ through it's Board of Directors, and in
case such subscriber fails to pay in the
amount SO called for, written notice of
which has been given by the Secretary
and Treasurer, then the Board of Direc-
tors shall have the power after said
thirty days. notice to forfeit the stock
SO subscribed and the amount already
paid by such subscriber who fails to
comply with said notice.
/ ARTICLE VIII.
The President, or in his absence or in
ability to act the Vice President, shall
| cyivp oaoh c,1hcoribor top daxrc3 yotioo IN,