Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1909-10-22
ACT OF INCORPORATION
or THE
PROGRESSIVE COMPANY, Ltd.
STATE OF LOUISIANA,

STATE OF LOUISIANA, !
PARISH OF TRNsAs.
BE IT KNOWN that on this 18th day Of
October, 1909, before me, Louis Buckner, Q
Notary Public, duly commissioned and quail
ined 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 Rouge, Louisiana, and
DR.. Alfred Jacoby, resident OF the Parish
OF Orleans, Louisiana, and Leopold DeVries,
resident of the said Parish of Tensas, Louis
lana, who declare to me, said Notary, that
they do hereby form a corporation under the
laws Of the State of Louisiana for the pur-
poses and objects and under the agreements
and stipulations hereinafter set forth, to-wit:
ARTICLE 1.
me :, name NEAR and style Of this Corporation
LIMITED and by this name IL shall have
power and authority to exist and enjoy sue
cession for the full term OF Ninety nine lss)
years from this date.
ARTICLE II.
The objects and purposes for which this
corporation Is formed, and the nature of
business to be carried on by it is hereby
declared to be, to sell and buy at retail or
! wholesale such general articles and mer-
chandise as is ordinarily Carried in a 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
| Of the company, and to do all other things
| 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 Is
hereby fixed at the sum of Seven Thousand,
Five Hundred Dollars, divided into Seventy
Five shares of One Hundred Dollars each.
I.ll
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
stakeholder.
All of the corporate powers of this corpora
ton shall be vested in, and exercised by the
Board of Directors, a majority of whom shall
eHns Ss quorum h ior the Transaction OF
rules and regulations for the government OF
the business and affairs of the company, and
alter amer amend Dan ana Hnange the same st pleas
occur in said Board from death, resignation
or other cause.
The said Board of Directors shall elect nc
their first meeting, and annually thereafter,
q General Manager, who shall have power to
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
which the said corporation may be involved,
to hire and discharge all agents and clerks
and other employees 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 q 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 first
Monday of October, 1910, and annually there
after, an election for directors shall be held
at the office OF the company, and the Direct
ors then elected shall take their seats imme-
diately and shall hold the same until their
successors shall be duly elected and quail
lied. Each Board shall appoint its own Of
be by ballot and a majority of the stock pres
emit or represented shall elect, and each 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 TO hold
their seats until their successors are elected
and qualified, but another election may be
held at any time thereafter after a ten days
publication for ten days prior to said election
In q newspaper published in the town OF St.
Joseph, Louisiana.
ARTICLE
Whenever this corporation is dissolved
either by limitation of its charter or other
wise, its affairs shall be liqudated under the
superintendance of the stockholders Of the
company. The said liquidators shall remain
In office until the affairs of the said corpora
ton shall have been finally closed and hgui-
dated.
ARTICLE VI.
This charter may be changed, modified or
amended, or this corporation dissolved with
the assent of a majority of the stock at o reg
ular meeting of the stockholders convened
for the purpose after thirty days notice in
newspaper published In the town of St. Jo-
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 this
corporation, notice thereof shall be gived In
writing by the Secretary to each of the stock
holders OF the corporation.
ARTICLE VIII.
No stakeholder shall be held liable or re-
sponsible for the contracts or faults of this
company In any further sum than the unpaid
balance due to the company on the shares
owned by him. Nor shall any mere informal
ity in organization have the effect of render
ing this charter null, nor exposing any stock
holder for any liability beyond the amount
Of his stock.
ARTICLE TX.
Under the above entitled name and for the
above expressed purposes the said corpora
shall have the power to sue and be sued, 10
make, have and use common seal, with such
devices and descriptions as they deem prop
er, and the same to break alter and amend as
they may desire.
In Testimony whereof the said parties have
hereunto signed their names In the presence
nf Nhaa nd Middleton.
petent witnesses, who sign these presents
with the said parties and me the said Notary
on the day and date first herein written.
A. Jacoby, M. D., Ten llo) Shares.
l.. de Vries .... Fifteen yl6) shares.
Adolph Elgutter. =. Fifty (50) Shares.
w. W. MIDDLETON,