The Era-leader. [volume] (Franklinton, La.) 1910-current, 1911-06-01
Charter OF the
flalkIinien Mercantile Co., Inc.
UNITED. STATES OF AMERICA, STATE OF
LOUISIANA, PARISH OF WASHING
ATOM, TOWN OF FRANKLIToN.

came and appeared the persons whose names
are hereunto subscribed, all of lawful age ana
residents Of the Parish of Washington, State OF
Louisiana, who several]y declared that awaiting
themselves Of the provisions OF an Act OF the
Legislature of this State, known as Act No. 81
Of the session Of 1883, approved June 18th, 1885,
as we'll as the general laws of the state relative
to the organization Of corporations, they have
formed and organized and by these presents 90
form themselves into and constitute corpo-
ration for the objects and purposes, and uhoeF
the st.pulations and agreements hereinafter
set forth, which they adopt as their Charter
to.wit;
ARTICLE l.
The name of this corporation shall be THE
MERCANTILE COMPANY
and it shall have its domi-
cile in the Town of Franklinton, Parish OF
Washington, State Of Louisiana, and shall nave
and enjoy succession under its corporate name
for period Of ninety-nine years from ana AZ
ter date hereof.
ARTICLE II.
The Capital Stock .of this Corporation Is
hereby declared to be fixed at the sum OF Zen
Thousand ($lo,ooo0o) Dollars, divided into one
Hundred uoo) shares Of One Hundred ($loo w
Dollars each, which shall be paid in cash at the
time Of subscription. The capital stock OF SAID
corporation may be increased to an aV'ount
not to exceed Fifty Thousand 5o,0OO.OOJ DOL
lars, after the compliance with the provisions
az the law relative to increasing the capital
stock Of corporations.
ARTICLE III.
It shall have the right to commence business
when Six Thousand (ss,ooo.oo) 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
person upon whom all legal process shall De
berved.
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 general merchandise business,
either Wholesale, retail, or both, to purchase
farm products Of all description, to buy and
sell real estate and to enter into any contract
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
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 arc
hereby declared to be as follows: H. Willis
Magee, President; Miss Leila Magee, Vice
President and ]. Addison Wadsworth, Secre'
tary and Treasurer. Said officers and directors
shall hold their respective Offices until the frs
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 thu
corporation on the first Monday of January,
each year, and the directors when elected a
said meeting shall take their seats immediatel!
and the board Of directors shall elect from thei
number the officers Of the corporation. Tn
said board Of directors shall have the power t.
make oil rules, bylaws and regulations for tn
management Of the business affairs OF this cor
p6ration, or to alter or change them by q two
third vote at any regular meeting, they shall
have the power to purchase, sell, mortgage
pledge property, both real and personal, NOV
able or immovable, to make contracts bindin
on said corporation and to do all other matter
and things necessary and proper in the man
larement Of the business Of the said corporation
They shall appoint officers, agents, clerks an
employees and fix their salaries and dem
their duties.
All vacancies occurring on the board q
directors shall be filed by the remainin
directors and any stakeholder shall be eligabl
~ director.
ARTICLE VI
Whenever this corporation shall terminate
either BY Limitation or from any other cause
it, affairs shall be liquidated under the super
intendence OF two stockholders to be appointe
for that purpose by general meeting OF tn
stockholders, convened after ten days notice b
registered mail to each stakeholder, and wit
the assent Of the majority Of the stockholder
IN amount Of capital stock, said liquidators Q
commissioners shall remain in Office until tn
sh,airs Of the said corporation shall have bee
fullv liouidsted, and In case. Of death OF on
Of said commissioners the surviving membe
shall continue to act
ARTICLE VII.
This oct Of incorporation pay be changed. Q
the corporation may be dissolved with tn
anent Of three fourths Of the stock represente
Ct any general meeting Of the stockholders
said corporation convened for that purpos
after ten days previous notice Of such meetin
shall have been given, by registered mail, t
Il each stockholder, provided q majority OF tn
stock shall be represented at said meeting.
ARTICLE VIII.
AL stock d this corporation shall be issue
4 under the direction Of the board Of directors
and NO tockholder shall be allowed to dispos
Of his stock until after having first offered
sell II to the Company and its refusal by tn
comnany and the individual members therco
ARTICLE TX.
i No stockholder shall ever be held liable t.
the contracts or faults Of said corporation ]
any further sum than the unpaid balance du
i ON the shares Of stock then owned by then
i - III any ;nformalikv in organization hay