The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1912-06-22
c. H A K L E L
OF THE
SOUTH BEND FARMS AND DE-
vELOPMENT COMPANY.
United States Of America,
State Of Louisiana,
C;,- Nn~ nrloana

America the One Hundred anu thirty.sAth,
Before me- William j. FormentO Notary
Public, in and for the Parish of Orleans, state
of louisiana duly commissioned ana quaIin
ed and in the presence of the W ltness herein-
after named and undersigned: personally
came and appeared. the several parties whose
names are hereto subscribed all OF the full
age Of majority and domiciled in this State,
who severaliy declared. that availing them
selves of the laws of this State, made anu pro
vided for the organization OF Corporations,
they have formed and organized, and by these
presents do form and organize themselves INTO
a corporation for the objects and purposes
and under the stipulAtions and agreements
hereinafter set forth and expressed, which
they hereby accept and adopt as their Char
ter, to Wit.
ARTICLE
The name and title of the Corporation here
by formed !.s declared to ibe SOUTH BEND
FARMS AND DEVELOPMENT COMPANY.
Its domicile shall be on the Company'S planta
ton, in st. Mary Parish Louisiana, but said
Company may maintain General Ofices in the
City of New Orleans, Louisiana, and it shall
have and enjoy succession by its corporate
name for q period of Ninety nine years from
tho date hereof
All citation or other legal process, shall be
served upon the President, and in case OF MS
absence or inability to act, upon the Vice Pre-
ARTICLE II.
The objects and purposes for which this cor
poration 10 organized and tho nature OF tho
business to be carried on by it, are declared 20
be.
To acquire whether by purchase, inheritance,
or otherwise, real estate, IS well IS movable
and mixed property, and to sell, mortgage,
rent. lease, pledge. or otherwise dispose OF
same to cultiva4, drain, reclaim, and develop
lands and to subdivide, tenant and colonlze
same; to acquire, own and operate sugar fac
tories or reineries, aud planning mills.
mines Of any kind or nature, rice mile ana
warehouses; to acquire, build and operate
private or public tramways, railroads either
by electricity steam, gas gasoline, Oil, cable or
gravity, canals and any nature OF water craft
to operate or engage in agricultural pursuits,
to conduct general mercantile business; 90
pasture and raise live stock to acquire, operate,
lease, or sell any kind of manufacturing plant
and generally to do and perform any and all
things necessary IN and incidental TO bhs DUST
ness.
The capital stock OF this corporation 10 here
by fixed at the sum of Six Hundred and Fifty
Thousand Dollars $3.50 .00), divided into
common and preferred stock. Of the common
stock there shall be three thousand $4,000 shares
Of the par value OF One Hundred Dollars
there shall be three thousand five hundred
$500 shares OF the par value OF One Hundred
Dollars (S100. 00) each. The said three thou
sand five hundred (3500) shares of preferred
stock shall be non voting and entitled to re-
ceive dividends at the rate OF six per cent (6)
per annum, from date OF issuance. out OF the
earnings of said corporation before any divid-
ends shall be paid upon the said common stock
and snch dividends shall be cumulative so
that any deficiency in the dividends to be
paid on SOch preferred STOCK III any year, snail
be made good out OF the earnings of subsequent
years, before any dividend shall be paid upon
the said common stock. And in case the earn
ings of the corporation shall permit a divd- |
ends in excess of said six per cent, so to be !
paid, the said excess earnings, wholly or in
part, as the Board of Directors may deem ad. |
visable, shall be paid to the common stock !
holders. And on the final liquidation and dis |
tribution of its assets, arrears of dividends |
shall be paid to the holders Of such preferred !
stock, and the shares of the preferred stock
shall be paid in full before any payment shall
be made to the holders of the common stock |
but when such arrears OF dividends and the |
face value Of such preferred stock shall have |
been paid, the holders thereof shall receive no !
other or additional payments whatever.
This corporations may redeem the whole or |
any part OF the issue of its preferred stock at
any time after three years from date OF issu-
ance, at 103, and all accumulated dividends by |
giving ninety 80 days notice, such REDEEM ptiOn
to be made the Board OF Directors may deem
advisable.
Said preferred and common stock shall be
issued full paid and nOn-assessable; said pre-
ferred st Ock for cash only, said common stock
however, may be issued in payment for prop
erty, or rights, leases and options actually re-
this corporation.
All transfer Of stock shall be inscribed on
the books Of this corporation, but no stock.
holder shall sell or dispose OF his stock before
having 6rst offered it, in writing to the Com.
pany at its book value.
This corporation shall commence business
dS SOoH AS IHFee Thousand Dollars |
$500 COZ of its common stock shall have
been subscribed; said amount of stock having |
been subscribed by the unders igned, for the
respective shares set opposite their names
ton.
ARTICLE ".
All corporate powers of this corporation |
shall be vested in and exercised by Board Of
composed of not less than three C3)
nor more than five 81 Stockholders, a majority
OF whom shall constitute quorum for trans
action Of all business.
Through said Board OF Directors this cor
poration shall have power and authority to
contract, sue and be sued in its corporata
name; to make and use corporate seal and to
change or alter same at pleasure, to hold and
receive, have, purchase, improve, ALLEVIATE
convey, sell borrow, pledge, mortgage and
nypothecste, under its said corporate name,
real, personal and mixed; to issue
bonds and notes, or other evidences Of in
iebtedness; to name and appoint such Off.
'ers, directors, agents and managers or EN-.
said corporation may require; to make and Z
establish bylaws, rules and regulations for
ne proper management and regulation of its
'nalrs, as may pc necessary and proper to
AIRY out the objects and purDoses OF aad {
corporation.
ARTICLEv.
The nrst Board Of Directors shall consist t
lorton, Louis Telssier Warren d. Williams 9
md William j. Formento, with william r !
Villains, IS President, William j. Formento t
ecretary- Treasurer. all OF whom shall hold a
ffice as such until the Second Tuesday in A
larch, 1913, or, until their successors shall I
ave been duly elected and qualified. a
The President shall act in the capacity of 3
resident and General-Manager. VI .
On the Second Tuesday Of March, 1915 nm il
.ss said day be Dies Non. then, in such
use, gu the nrst succeeding judicial day and
nnuany thereafter, an election for directors r
hall be held at the General Offices of ths
corporation, under the supervision OF two I2S
commissioners to be appointed by the stock.
oiuers the directors so elected shall i'm |
ledlately take their seats and hold once
htil their successors shall have been duIv u
lected and qualified. All vacancies in said
laining Directors. WV io
Notice OF election shall be given by the A
ecretary. treasurer to each stock holder ten
ays previous TO election, by written uotice