The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1909-01-02

Louisiana; to engage in the business OF planting
and raising sugar cane, corn, rice and any other
agricultural crops and products; OF manufacture
ing and refining sugars; of buying and selling
sugar cane and other agricultural products; Of
growing and ginning cotton; to engage in
general merchandise business and to do al
things necessary or incidental to the carrying
out of the above objects and purposes.
ARTICLE FOUR.
The capital stock OF this corporation is hereby
fixed at ten thousand dollars represented by one
dollars each, all of which shares have been paid
and subscribed for on the signing OF this act,
and this corporation shall begin business at
once.
No stakeholder in this corporation shall ever
sell, or otherwise dispose OF any share of stock
held by him until he shall have first offered to
sell the same, at the lowest price at which he
viii sell to Others to the stockholders who shall
have the option OF purchasing the same during
period of thirty days, after which time, should
no stockholder purchase such shares OF stock,
the same may be otherwise disposed OF by the
holder thereof.
The secretary and treasurer shall be without
power to legally transfer upon the books any
shares belonging to the present stockholders
unless the above directions and rules are carried
out.
All of the corporate powers Of said corporation
shall be vested in and exercised by 8 board Of
directors, composed of three persons. all of
whom must be stockholders of this corporation,
and any two OF whom shall constitute quorum
for the transaction of business. The directors
shall be elected annually on the second Tuesday
of January OF each year. but the directors con-
stituted under this charter shall hold Office until
the second Tuesday OF January, 1910. The cleo
ton shall be by ballot and each stakeholder
vote for every share of stock held by him. Ten
days prior notice OF said election shall be given
to each stockholder by written notice mailed to
him. addressed to his residence or place OF busi-
ness postpaid, or by delivery to him in person.
The manner of conducting said election shall be
regulated BY the bylaws. At the first meeting
after their election the poafd OF directors snalI
elect from their own number president and
secretary and treasurer, whose duties shall be
prescribed by the bylaws. The said Offices of
secretary and treasurer may be combined into
one Office and in such case the person elected to
fill both offices shall be known as the secretary
and treasurer. Said directors shall hold office
until their successors shall have been elected
and qualified. A failure to elect directors on
the date above specified shall not dissolve the
corporation nor impair its corporate name, but
the directors then In office shall remain IN off1ce
until their successors are elected and qualified
Until the first election as herein provided for,
the following stockholders are constituted the
board of directors to wit: CyTlle Babln, who
shall be president; Henry Babin who shall be
secretary and treasurer, and James A. Godfrey,
who shall hold Office until the second Tuesday OF
January, 1870 or until the first election to be
held in accordance with this charter, or until
their successors shall have been elected and
enter upon the discharge OF their duties The
board of directors shall have full power and
authority to borrow money; to execute mort
cages; to grant pledges and liens; to make, ex-
ecute and issue promissory notes ana other oDil-
cations; to purchase or otherwise acquire, to
lease, let or rent or take and hire the property
of and for this corporation and generally to do
all things reasonable, convenient and necessary
for the carrying on of the business Of the corpo-
ration. The board of directors shall make and
adopt such bylaws as may be necessary for the
proper management and regulation OF the a4a1rs
and business of said corporation and shall have
the power and authority to amend and alter the
same at pleasure and shall themselves or in
such manner as may be prescribed by the BY
nj oil
and duties and fix their compensation. The
board of directors will fill any vacancies among
their own number. at a meeting thereof Meet
ings OF directors may be called by the president
or by any two directors by mailing notice,
postpaid to each director addressed to his resi-
dence or place of business or by delivery to him
= peAoO-e' ARTICLE SIX.
A general meeting Of stockholders shall be
held annually as provided for by Article Five,
and the president or any three stockholders may
can a special meeting OF the stockholders for
any lawful purpose upon notice to be given in the
manner and for the time to be prescribed in the
~ laws ARTICLE SEVEN.
No stakeholder shall be held or responsible
for the contracts or faults of the corporation in
any further sum than the unpaid balance OF the
informally IN the proceedings of organization
render any stakeholder liable beyond salo
amount 1900 -
This act OF Incorporation may be modified,
altered or amended, or this corporation may be
dissolved with the assent OF two-thirds Of the
capital stock represented at general meeting
of the stockholders to be convened for said pur-
pose, after due notice to be given by thirty days
publication in a newspaper published in the
parish of Ascension and also by written notice
mailed postpaid to each stakeholder. to him
addressed to his residence or place OF business
or delivered 10 him in person.
ARTICLE NINE.
Upon the dissolution of this corporation either
by limitation or otherwise its affairs shall be
hquidated By three commissioners to be elected
by the stockholders, who shall at the same time
fix their compensation.
The incorporators whose names are affixed TO
this act have and do by these presents subscribe
to number of shares of capital stock placed
opposite their names.
Thus done and passed at the parish of Ascen-
sion, state of Louisiana, the day, month and
year first above written, in the presence Of
Messrs Felix N. Gros and Jonas Well, good
and competent witnesses, who, with the said
appearers and me, Notary, have signed these
presents after due reading OF the whole
FELIX eros,
WITNESSES JONES WE'LL.
Signed
III