The Era-leader. [volume] (Franklinton, La.) 1910-current, 1911-06-15
Charter Of tho
fTank|inton Mercantile Co., Inc.
UNITED STATES OF AMERICA, STATE OF
LOUISIANA, PARISH OF WASHING
TON, TOWN OF FRANKLITON.


IS Louisiana, duly commissioned and qualiHe
n and in the presence of the witnesses herei
after named and undersigned, personal
came and appeared the persons whose nam
II are hereunto subscribed, all of lawful age, al
It residents Of the Parish of Washington, State
# Louisiana, who severalIy declared that availil
themselves Of the provisions of an Act Of Il
Legislature Of this State, known as Act No.
Of the session of 1883, approved June 18th, 1873
as we'll as the general laws Of the State relati,
4 to the organization Of corporations, they ha,
formed and organized and by these presents
form themselves into and constitute corpt
ration for the objects and purposes, and undo
!, the st.pulations and agreements hereinafte
I set forth, which they adopt as their Charte
: to-wit;
i. ARTICLE l.
The name Of this corporation shall be TIL
FRANKLINTON MERCANTILE COMPANY
INCORPORATED, and it shall have its domi
cile in the Town of Franklinton, Parish Q
Washington, State Of Louisiana, and shall hav
| and enjoy succession under it's corporate nam
for period Of ninety-nine years from and at
ter date hereof.
! ARTICLE IL.
The Capital Stock Of this Corporation i:
hereby declared to be fixed at the sum Of Ter
Thousand (s1o0OO.o0 Dollars, divided into One
Hundred (l0o) shares Of One Hundred ($l00 00)
Dollars each, which shall be paid in cash at the
time Of subscription. The capital stock Of said
corporation may be increased to an amount
not to exceed Fifty Thousand (s50, 10000 Dol
lars, after the compliance with the provisions
Of the law relative to increasing the capital
stock of corporations.
ARTICLE III.
It shall have the right to commence business
when Six Thousand ($s,ooo00) Dollars Of the
| capital stock shall have been subscribed and
paid in, and may hold, purchase, sell, convey,
lease, pledge or mortgage property, personal,
movable or immovable, sue and be sued, and
may have q corporate seal, with such inscrip-
ton or device as may be elected by the Board
Of Directors. The President, or in the event Of
his death, absence or inability to act, from any
cause, the Secretary Treasurer is named as the
person upon whom all legal process shall be
served
ARTICLE Nv.
The object and purpose for which this cor
poration is formed and the business to be con-
Quoted by it. is hereby declared to be, the con-
Quoting OF a general merchandise business,
either wholesale, retail, or both, to purchase
farm products of ar description, to buy and
sell real estate and 1 enter into any contract
that may be necessarySor the proper conduct
Of a general mercantile business in the town OF
Franklinton, or at any branch store in the
Parish Of Washington, State Of Louisiana,
which the said corporation may hereafter
establish.
ARTICLEV.
The business affairs Of this corporation shall |
be managed by board Of three directors, viz: |
H. Willis Magee, Miss Leila Magee and J. |
Addison Wadsworth, two Of said directors |
shall constitute quorum for the transaction |
OF business. The FIRST officers of said board are |
hereby declared to be as follows: H. Willis
Magee, President; Miss Leila Magee, Vice
President and ]. Addison Wadsworth, Secre-
larry and T, easnrer. Said officers and directors
shall hold their respective Offices until the first
Monday in January, 1872, or until their success
'ors shall have been duly elected and qualified.
The anual stockholders meeting for the election
II directors shall be held at the Office of the
on the first Monday Of January, Of
'ach year, and the directors when elected at
aid meeting shall take their seats Immediately
md the board Of directors shall elect from their
'nmber the officers Of the corporation. The
aid board OF directors shall have the power to
make oil rules, bylaws and regulations for the
Of the business affairs OF this cor
oration, or to alter or change them by two
bird vote at any regular meeting, they shall .
ave the power to purchase, sell, mortgage or
ledge property, both real and personal, mov- =
Die or immovable, to make contracts binding :
n said corporation and to do all other matters =
nd things necessary and proper in the man :
cement Of the business Of the said corporation. |.
hey shall appoint officers, agents, clerks and 4
nployees and fix their salaries and define \
leir duties. :
All vacancies occurring on the board Of \
rectors shall be filed by the remaining
rectOrs and any stakeholder shall be eligable :
director. -
ARTICLE VI -
this corporation shall terminate, \
Eher by Limitation or from any other cause, {
affairs shall be liquidated under the super \
Of two stockholders to be appointed I
that purpose by general meeting Of the
convened after ten days notice by -
sistered mail to each stakeholder, and with
, assent Of the majority Of the stockholders
amount Of capital stock, said liquidators or r
nmissioners shall remain In Office until the
airs Of the said corporation shall have been
" liquidaled, and in case Of death OF one
raid commissioners the surviving member
ii continue to act.
ARTICLE VII.
his act OF incorporation may be changed, or
corporation may be dissolved with the
ent Of three-fourths Of the stock represented
ny general meeting Of the stockholders Of
corporation convened for that purpose
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