The Caucasian., 1909-07-15

CHARTER
OF THE PHELPS INVESTMENT
COMPANY.

1
S. L Herold, notary public in and fol
the State and Parish aforesaid, duly
commissioned and sworn, came and ap-
peared the parties whose names are
hereunto signed, who declared that
availing themselves of the provisions oi
the laws of Louisiana relative to or
ganization of corporations, they do here
by form and constitute themselves, their
associates and successors, into a cor
poration for the objects and purposes
hereinafter set forth, to-wit:
ARTICLE l.
The name and style of this corpora
ton is hereby declared to be PHELPS
INVESTMENT COMPANY, and its
domicile is fixed in the City of Shreve-
port, 5Caddo Parish, Louisiana, where
all citation and all other legal process
shall be served upon the proper officer,
as provided by law.
ARTICLE II.
The objects and purposes of this cor
poration are hereby declared to be to
buy, sell, hold, own and lease property
of any description, to build houses and
lease or sell same, to loan money On the
security of mortgages on real estate or
otherwise, and in general to do all and
any things necessary or incident to the
purposes set forth. And to the end
above mentioned, this corporation shall
have power to contract, sue and be sued
purchase, hold, hypothecate, sell and to
ALLEVIATE property, real and personal and
mixed; to name and appoint all officers
anl agents that he interests of the cor
poration may require, and to make and
establish all necessary laws, rules and
regulations, and to alter and change
same at pleasure.
ARTICLE III.
The corporate powers OF this corpor-
alton are hereby vested in a board of
directors, to consist ofkhree directors,
two of whom shall constitute quorum
for the transaction of business. All di
rectors shall be elected annually on the
first Msnday of January of each year,
beginning January 1910, and they shall
hold Office for one year or until their
successors shall be elected and qualified.
All officers of the corporation shall be
elected by the directors out of their
number and shall consist of the presi-
dent, vice president and secretary-treas-
urer. The first board of directors,
which shall hold Office until their sue
cessors are elected and qualified, are
hereby declared to be: Emanuel Phelps,
Bernard Sokoloski and Benjamin A,
Phelps, with E. Phelps as president, B.
Sokolosli as vice president, and B. A.
Phelps as secretary All va
cancies in the board of directors shall
be filed by the board
ARTICLE ".
The capital stock of this corporation
is hereby fixed at the sum of fifty
thousand dollars, divided into FIVE hpR-
dred shares of one hundred dollars
each, to be paid for in cash or in prop
erty at the discretion of the board of.
directors. This corporation shall COM
mence business and become going con-
Germ whenever ten thousand dollars of
the capital stock shall have been SUBJ
scribed and paid for in full, and this
corporation shall have and enjoy cor
porate existence for period of ninety
nine years from the date hereof.
ARTICLE v.
This act of incorporation may be
amended or modified, or the corporation
may be dissolved by vote of two-thirds
of the stock present at special meeting
called for such purpose, after notice
has been given by REGISTERED mail ten
days previous, in which the object and
purpose of the meeting shall have been
stated. Whenever this corporation
shall be dissolved, by limitation or 9TH
.GIWISC, IT'S dl1dl1S SAldA4 DS SNttASO ~ SAS
board of commissioners, consisting of
two Iiquidators, selected by majority
of the stock present at meeting called
for such purpose. In case of the death
or inability of either one of the COM
missioners to act, the other shall act as
sole liquidator.
ARTICLE VI.
No stockholder shall ever be held
liable or responsible for any of the con-
tracts or faults of this corporation in
any greater sum than the unpaid balance
due on his stock as subscribed; nor shall
any informality in organization have
the effect of rendering this charter null
or of exposing any stockholder to any
loss beyond the amount of his capital
stock.
This done and signed in my Office in
the presence OF Sara W. Pearce and ].
A. Thigpen, competent witnesses, on
this the I4th day of June 1909.