The Era-leader. [volume] (Franklinton, La.) 1910-current, 1914-01-22
ARTICLE /.

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and be sued, to make and use cor
porate seal and to alter same at pleas
ure: to hold. receive, have, purchase,
ALLEVIATE, pledge, mortgage. and hypoth-
ecate under the said corporate name,
real, personal and mixed; to
name and appoint such offlcers. direct
ors, agents, managers or other EN-.
plOyees as the interest or business OF
this corporation may require; to es-
tablish branch stores and to operate |
same in any part of the State Of Lou
isiana as the Board Of Directors may |
to make and establish such
bylaws. rules and regulations. for the |
proper management OF its affairs, as it |
may deem necessary and proper. and
the said corporation shall hold and eX-
ercise all such powers and. privileges
as relates to the objects herein set
forth or that may be necessary to carry
on the business for which, this corpora
ton is established and which this cor
poration may legally do or perform
under the laws O. this State.
ARTICLE II.
The domcile Of this corporation shall
be at Franklnton, Washington Parish,
Louisiana, where all citations, papers
and other legal process shall be served
upon the president, or in his absence
or inability to act, the secretary treas
urer.
ARTICLE III.
The objects and purposes for which
this corporation is established, and the
nature of the business to be carried on
by it, are hereby declared to be the
operation of drug store, confectiOn-
cry and notion store; to buy and sell,
either at wholesale or retail, drugs,
licin tn
bacco, cigars and school books, md
such notions and novelties as are
usually sold in a first-class drug store.
and do all acts necessary and proper
for the conduct and maintenance of the
business as above outlined, or as incl
dental thereto.
ARTICLE ".
The capital stock of this corporation
shall be TEN THOUSAND ($10,00000)
DOLLARS divided into and represented
by One Hundred Shares of stock at the
par value of One Hundred Dollars each ;
said stock shall be paid for in cash
at the time of subscription. or as the
same is issued, for not less than par,
| or in payment or in exchange for prop
erty actually received or purchased by
| this corporation, or for work or SER
vices actually rendered.
|
ing business and shall be a going con-
Germ as soon as Three Thousand
(s3.OOO.OO) Dollars of it's capital stock
shall have been subscribed for The
Board of Directors shall have the right
to determine how much stock shall be
issued after the first Three Thousand
Dollars of its capital stock shall have
been issued.
Any stakeholder may sell, assign or
transfer his stock in this corporation;
no transfer of stock shall be made
unless the same is transferred on the
books of this corporation at its office.
ARTICLE v.
The corporate powers of this cor
poration shall be vested in and exer-
cised by a Board Of Directors COM
posed of three stockholders, and their
decisions and acts shall bind this cor
ton. The first election of the
Board of Directors under this charter
shall be held at a meeting of the
stockholders to be held at the office of
the corporation on the first Monday
in January, 1915, and thereafter the
stockholders shall elect a board Of d.
rectors on the first Monday in jan
uary of each year, who shall serve
elected and qualified The Board of
Directors shall elect from among their
President, Vice-President, Secretary
and Treasurer; the office of Secretary
and Treasurer shall be held by the
same stakeholder. No person shall be
eligible as a director, or hold an office
holder; during the absence of the
President the Vice President shall act
and preside in his stead. Notice of the
election of the Board of Directors shall
be given in writing by mail addressed
to each stakeholder at his usual place
tion and the Board of Directors shall
appoint one of the stockholders to pre-
side at said election; and in the event
that said stakeholder shall fail to at
tend, the President shall appoint a
stakeholder to fill his vacancy; any
failure, for any cause whatever to elect
directors on the day named for that
poration, but the directors then in Of
flee and the incumbent officers shall
continue to serve until their successors
are chosen. At every election and
meeting Of the stockholders, each
stakeholder shall be entitled to one
In his name, and the vote Of the stock
election of directors shall be by ballot
and the majority in the amount of
votes cast. each share of stock being
counted as one vote. shall elect the per-
son or persons for whom they are cast
The first Board Of this corporation
shall be composed of W. NJ Darlington,
Miss Ellen Darlington and r. W. Bah
ington, Of whom W. VI. Darlington shall
be President, Miss Ellen Darlington
Vice President. and T. NJ. Darlington
Sec"otary aid Treasurer, who shall
serve until their errr"esors shall have
been elected and qualified.
ARTICLE VI.
The BOARD of Directors shall have the
rover to fill all vacancies in. their
rnl'her c?rsed by death. resigna tion
or otherwise from among the stock
h9I 'ers of this corporation. Tho said
''os I'd shall have full power and con-
tro' of the property Of this corporation
ant shall conduct and manage the same
7nr "istent with the objects for which
hi" company IS organized and in &C
"Or 'arce with the provisions set forth
~ ~ "h2rt"r cri3 Bnor1 is further
'1'hor'zed 70 adoDt such laws rules
and regulations as t." affairs and bust
I'D pc ~7av no rnceNsHrv for the man
: rnr'ert or the business thereof. pro-
ted the same shall not conflict with
tNi7 charter o. the laws Of the State
c' Io":@'ana. or &C the United States.
| r'hn BOARD &C Directors shall elect or
aoNoint such further agents. clerks
ga" var'e or nther employees as they
r,~v deem necessary Cor the conduct
iirr cf the business affairs of this cor
poration, and to fix their compen-