Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1909-11-26
ACT oF INCORPORATION
or THE
PROGRESSIVE COMPANY, Ltd.
STATE OF LOUISIANA,

PARISH OF TENsAs.
BE IT KNOWN that on this 18th day OF
jSotspy Public. duiy commissioned and quail
fled In and for the Parish OF Tensas, and
State of Louisiana, personally came and APP
peared Adolph Elgutter, resident OF the
Parish Of East Baton Ronge, Louisiana, and
DR.. Alfred Jacoby, resident of the Parish
of Orleans, Louisiana, and Leop> Id DeVries,
q resident of the said Parish OF Tensas, Louis
lana, who declare to me, said Notary, that
they do hereby form corporation under the
laws of the State of Louisiana for the pur-
poses and objects and under the agreements
and stipuiations hereGatser setfortn' to-"''
The name and style Of this Corporation
shall be 1.-THE PROGRESSIVE COMPANY,
LIMITED" and by this name IL shall have
power and authority to exist and enjoy sue
cession for the full term of Ninety nine 1891
years from this date.
ARTICLE III.
The objects and purposes for which this
business to be carried on by IL is hereby
declared to be, to sell and buy at retail or
wholesale such general articles and mer-
chandise as is ordinarily carried in general
store, such as clothing, dry goods, shoes,
hardware, and the like, and for that purpose
to purchase or rent such real estate and
buildings as may be necessary, to name and
appoint such managers, officers or agents as
the business of the same may require, and
to make all necessary bylaws, rules and
regulations for the government of the affairs
to successfully carry on the said business.
The domicile of this company shall be In
the town of Newellton, In the State OF Louis
lana, and all citation and other legal pro.
ceeding shall be served on the President OF
ARTICLE III.
The capital stock of this corporation II
hereby fixed at the sum of Seven Thousand,
Five Hundred Dollars, divided into Seventy
Five shares of One Hundred Dollars each.
And this corporation shall commence busi-
ness as soon as the whole of the capital stock
shall have been subscribed. Its business
shall be managed by general manager who
shall be elected by the Board OF Directors.
All transfers Of stock shall be made on the
books of the company by the stakeholder or
the duly authorized agent In fact OF the said
ARTICLE
All of the corporate powers OF this corpora
ton shah be vested in, and exercised by the
Board Of Directors, majority of whom shall
constitute a quorum for the transaction or
all business. They shall make all bylaws,
rules and regulations for the government OF
the business and affairs of the company, and
alter, amend and change the same at pleas
ure. They shall I'LL all vacancies which may
occur in said Board from death, resignation
The said Board Of Directors shall elect at
their first meeting, and annually thereafter,
make all contracts for the said corporation,
purchase all goods, institute all suits In the
name of the corporation, and to compromise
and adjust all disputes and litigation INTO
to hire and discharge all agents and clerks
and other employ ees and to fix their salaries,
and to do and perform all things necessary
in the transaction of the business and AFFAIRS
of this corporation. The said manager Is to
be subject to removal at any time on the vote
Of majority of the Directors.
The first Board of Directors OF this corpor-
alton shall consist of DR.. Alfred Jacoby,
as President, L. De Vries, as Secretary and
Treasurer and Adolph Elgutter, who shall
hold their office until the first Monday OF Oc-
tober, 1910, or until their successors have
been duly elected and qualified. On the nrst
Monday of October, 1910, and annually there-
after, an election for directors shall be held
ors then elected shall take their seats fmme-
diately and shall hold the same until their
successors shall be duly elected ana quar-
fled. Each Board shall appoint its own Of.
fcers. All of the corporate elections shall
be by ballot and a majority OF the stock pres
ent or represented shall elect, and eacn share
of stock shall be entitled to one vote, TO be
/ cast by the holder thereof or by his proxy,
authorized in writing. Notice OF such cleo
| ton shall be given to each stockholder In
writing by the Secretary at least ten days
before election, which shall be sent by mail
directed to each stakeholder. Any failure to
elect directors on the day specified shall not
| in any manner invalidate this charter, but
the Directors in office shall continue 70 hold
their seats until their successors are elected
and qualified, but another election may be
held at any time thereafter after ten Gays
notice in writing to each stockholder and
publication for ten days prior TO SAID erection
| In q newspaper published In the town OF 81.
Joseph, Louisiana;
whenever this corporation is dissolved
either by limitation Of its charter or other
| wise, its affairs shall be liquidated under the
superintendance of the stockholders OF the
company. The said lquidators snail remain
in office until the affairs of the said corpora
ton shall have been finally closed and hgui'
dated.
This charter may be changed, modified OF
the assent of majority of the stock at reg.
ular meeting of the stockholders convened
for the purpose after thirty days notice In
newspaper published In the town of st. 10.
seph, La, by three publications thereof and
by written notice to the stockholders.
ARTICLE VII.
The President may In his discretion and
shall upon the written request of any two
special meeting of the stockholders Of thii
corporation, notice thereof shall be gived II
writing by the Secretary to each OF the stock
holders OF the corporation.
ARTICLE VIII.
No stockholder shall be held liable or re-
sponsibie for the contracts or faults Of thi
company In any further sum than the UNPAID
| balance due to the company on the share
owned by him. Nor shall any mere informal
fly In organization have the effect Of render
ing this charter null, nor exposing any stock
holder for any liability beyond the amour
of his stock.
Under the above entitled name and for tn
above expressed purposes the said corpora
shall have the power to sue and be sued,
make, have and use common seal, with sue
devices and descriptions as they deem prop
er, and. the same to break alter and amend a
In testimony whereof the said parties hav
hereunto signed their names In the presenc
| ~ hn N0m