Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1915-04-30
ACT OF INCORPORATION
the MfxEll1oA ELEVATOR COMPANY, INC.
STATE OF LOUISIANA,
PARISH OLE TENSAS


Of the witnesses hereafter named a nj under
signed, personally came and appeared +. L.
Guthrie, c: &. farrar and $. ID. Farrar, all
residents OF the Parish of Tensas and State ol
Louisiana and Oscar Jones a resident Of Chris
man, Illinois, who severaly declared to me,
Notary, that, awaiting themselves of the
Laws and Constitution of Louisiana in such
cases made and provided, they CONTRACT
AND AGREE and by these presents bind
Themselves, as well as such other persons as
may hereafter be associated with them, to
form and constitute a corporation and body
polite in law for the objects and purposes,
and under the agreements and stipulations as
follows, to-wit:
ARTiCLEI
The NAME AND TITLE of this corpora
ton shall be THE NEWELLTON ELEVATOR
COMPANY. INC, aud by said name, said
porate existence for and during the full term
OF Ninety nine years from the date of this act ,
unless sooner dissolved. and by said name
may contract and sue and he sued.
Said corporation shall have power to make
and use corporate seal. and the same To
alter ut pleasure, also Ia hold, lease, pur-
chase, sell and convey, as well az mortgage
and hypothecate under its corporate name,
real and personal property; also to borrow
money. and give security therefor, also to
make contracts and receive grants and dona-
lions of real and personal property; also to
name and appoint such managers, directors
and officers as its interest and convenience
may require; also To make and establish such
bylaws, rules and regulations for the proper
management and conduct of affairs of said
corporation as may be necessary and proper,
also to possess and exercise all other powers
and privileges which corporations of a simlar
character are or may be authorized to pos
sess and exercise under the laws and Con-
stitutiOn OF the State of Louisiana.
ARTICLEH
The PLACE chosen for the domicile of this
Corporation is Neweliton In the Parish of
Tensas and State of Louisiana.
ARTICLE III.
Tha gAr h;,hs afI 81,
has been organized are "a follows, to-wit:
To locate, construct, purchase, own, main
tain and operate a GRAIN ELEVATOR and
PUBLIC BONDED WAREHOUSE in or near
the Village of Newellton in Tensas Parish,
Louisiana, and to this end and for this pur-
pose, to locate, construct and maintain such
buildings, warehouses, platforms, railroad
switches, or sidetracks, and all other appur-
tenances and accessories necessary for or
incidental to the business of conducting and
operating grain elevator and public bonded
warehouse.
To purchase, own, maintain and operate,
and to ALLEVIATE, mortgage or pledge all ma
chinery, such as engines, boilers, fans,
pumps, and connections, etc, appurtenant
and necessary to the business herein estab
lished.
VITO buy and sell and trade in grain, hay,
meal, feed stun seeds, coal, and agricul-
tural implements, and To store, weigh, meas
ure, sample, and class the said articles for
themselves, or for their patrons, and GUS
toners, and to make and collect such charges
therefor as may be fixed by the authority
hereinafter provided for, to-wit: the Board
OF Directors.
And upon complying with Act l56 of the
Acts OF the General Assembly for the year
1855, and with Act No. 2ll of the Acts Of the
General Assembly of the State of Louisiana
Tor 1903, and the Constitution and Laws of the
State of Louisiana relative hereto, and gov
erning the conduct, management and exis-
tence OF public bonded warehouses, To issue
public warehouse receipts To such person,
persons, firms or corporations may have
stored with IL any OF the above ment oned ar
wv tah int
and be governed by the law. of the State OF
Louisiana made relative thereto
To obtain or receive by purchase. grant,
g1ft or exchange, both real and personal
property for the objects, purposes, intents,
and business of this corporation and the
same to sell, part with, ALLEVIATE or convey.
TO borrow money or to purchase or lease
property on It's own credit, for the purpose of
constructing. maintaining and operating the
business herein provided for. and as evidence
OF such Indebtedness, of this corporation for
such loans. or for the purchase, lease or con-
structton OF such property. to issue its cor
porate bonds or promissory notes, bearing
Of Directors hereinafter provided for may
elect, payable at such times and places as
may be agreed upon, and for the security of
such bOnds or notes, and the interest thereon,
% mortgage and pledge ity property. It's cap |
1tal stock, Its corporate franchise, and an, |
Seau Of its real or personal property. or
ARrICLEIv.
All citations shall be served upon the Presi- |
dent, or In his absence, upon the Vice Presi- |
dent, or the Secretary and Treasurer of this
- may be determined upon and designate |
by this corporation.
ARrICLEv.
The amount of the Capital Stock Of this cor
pOrstion snail be TWELVE THOUSAND
DOLLARS, divided into Twelve Hundred
Shares Of the par value of One Hundred Dol |
lars each. This charter shall become opera
ttve, and this corporation shall commence its
business as soon as one-half of its capital
at0ck sh II have been subscribed and paid in.
The Time and Manner of paying subscrip-
lions for stock of the said corporation shall
be determined by the Board of Directors,
but no stock shall be issued by the corpora
ton unless IL be for money or property ac-
tuaily received. or for labor performed.
In case OF failure on the part OF any sub
Scriber to pay the whole or any portion of his
subscription, at the time in the manner
SEED by the Board of Directors, the shares
OF atock subscribed for by him, and all pay
pnenfs heretofore made thereon may AT their
option be forfeited to the corporation by the |
Board Of Directors by service of written
notice ON the delinquent subscriber, and
failure ON his part To pay the balance due.
No stakeholder Of said corporation shall
ever b liable or held responstbie TOR its con
tracts or faults In axfS further sum than the |
By him, nor shall nfJrmality in the organi-
1Ati0n have the effect of rendering this char
Ter null, or exposing stoekeolder to any liza
otllty beyond the amount OF the stock sub
ocrption subscribed by him.
Article W.
the corporate powers of this corporation
shs,l be vested ia a Board of Directors com,
posed Of four members. The first Board o,
Directors shall consist of and be compose. |
and constituted as follows, to-wit: 4. ID. |
tArrar, G. y. Farrar, Oscar Jones and +. l.. |
Guthrie, each owning ia his own right ana
unpledged more than one share OF capita
stock. The Directors herein named shai |
hold ONCE until the first Monday in the mont, |
Of April, 1915. On the first Monday in III |
month Of April, 1916, and annually thereaft.
on the FIRST Monday in April of each year,
general meeting of the Stockholders of ga, |
corporation shall be held and there shall b, |
selected as many directors to serve durin. |
the ensuiny year will be necessary to CON |
plete the Board. Notice of the meeting -
the stockholders shall be given by publica |
ton In newspaper published in the Parish o
Tensas, Louisiana. for fully ten days pro |
thereto, or by ten days notice in writing L.
each stakeholder in this corporation.
AT all elections the vote of "A majority of ID, |
0eock present or represented shall be neces
a1ry to elect, and the majority of the gu
atandtng stock of this corporation shall . |
necessary To constitute quorum at su, |
election. and each stakeholder shall be e. |
titled to cast either in person or by proxy on
vote for each share of stock held by him, bu
can not vote on any share of stock transfer
Pod within ten days prior to an election. Al
Directors shall continue in office until thei. |
Successors are elected, and indicted int, |
once. The Directors shall elect one of thei. |
number TO be President of said corporatio |
. nd another To lie Vice President, and m. |
eject from among themselves. or appli.
from others who are not directors. another |
person To be Secretary and Treasurer of this |
And the said Board il il So determines, ma, |
Also appoint an Assistant secretary and A. |
sista nt-treasurer, or one person to I'LL bot
positions. IL NAV also appoint a Ciener. |