The Era-leader. [volume] (Franklinton, La.) 1910-current, 1911-05-11


hereby declared to be fixed at the sum OF Ten
Thousand (slo,ooo.oo) Dollars, divided into One
Hundred uo0) shares Of One Hundred (slo0. O0)
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, 100000 DOL
lars, after the compliance, with the provisions
Of the law relative to increasing the capital
stock Of corporations.
ARTICLE III.
1t shall have the right to commence business
when Six Thousand (ss,O00.0O) 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 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
served.
ARTICLE w.
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 all description, to buy and
that may be necessary for the proper conduct
Of 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.
ARTICLE v.
The business affairs of this corporation shall
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 J. Addison Wadsworth, Secre-
tary and Treasurer. Said officers and directors
shall hold their respective Offices until the first
Monday in January, 1912, or until their success
sors shall have been duly elected and qualified.
The annual stockholders meeting for the election
Of directors shall be held at the Office Of the
corporation on the first Monday Of January, Of
each year, and the directors when elected at
and the board Of directors shall elect from their
number the officers Of the corporation. The
said board of directors shall have the power to
make all rules, bylaws and regulations for the
management of the business affairs of this cor.
poration, or to alter or change them by two
third vote at any regular meeting, they shall
have the power to purchase, sell, mortgage o.
pledge property, both real and personal, NOV
able or immovable. to make contracts binding
| on said corporation and to do all other natter
and things necessary and proper in the man
agement Of the business. OF the said corporation
They shall appoint officers, agents, clerks ant
employees and Ok their salaries and defn'
their duties.
All vacancies occurring on the board o
directors shall be filed by the remaining
| directors and any stakeholder shall be eligabl,
as director.
ARTICLE vi.
Whenever this corporation shall terminate
either by limitation or from any other cause
its affairs shall be liquidated under the super
intendence Of two stockholders to be appointed
for that purpose by general meeting OF tn
! stockholders, convened after ten days notice BY
| registered mail to each stakeholder, and with
the assent Of the majority Of the stockholder'
| in amount of capital stock, said liquidators o.
commissioners shall remain in Office until thu
oA3a{ro ~ Tho a. il howe hoe,
fully liquidated, and in case Of death Of ont
Of said commissioners the surviving membe
! shall continue to act.
ARTICLE VII.
This act Of incorporation may be changed, o.
the corporation may be dissolved with thu
assent Of three-iourths Of the stock represented
at any general Getting Of the stockholders o.
| said corporation convened for that purpose
| after ten days previous notice Of such meeting
shall have been given, by registered mail. Il
each stakeholder, provided majority Of thu
stock shall be represented at said meeting.
ARTICLE VIII.
Al stock this corporation shall be issuet
under the direction Of the board Of directors
and no tockholder shall be allowed to dispos'
Of his stock until after having first offered Il
sell it to the Company and its refusal BY tn
Company and the individual members thereof
ARTICLE TX.
No stakeholder shall ever be held liable TO
the contracts or faults OF said corporation j,
any further sum than the unpaid balance du'
on the sharea Of stock then owned by them
nor shall any intormality in organization hsv
the effect Of rendering this Charter null or
exposing stakeholder to any liability Peyon
the amount OF his stock.
ARTICLE X.
This corporation shall 60 into operation
soon as sixty shsres Of the capital stock sla]
have been subscribed and paid for.
| ARTICLE XII.
All transfers Of stock shall be made on tn
books of the corporation in the presenc :of tn
secretary, and the person to whom the :ock
to be Transferred must be acceptable to th
board Of directors.
Thus done and passed at my Office in th
town Of Franklinton, Parish Of Washing. p