Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1915-05-14
ACT OF INCORPORATION
TIE nEWEluoN ELEVATOR COMPANY, INC.
STATE OF LOUISIANA, !,
PARISH OF TENSAS

OF the witnesses hereafter named and under
s,gned, personally came ana appeared +. l..
9uthrie, G. &. Farrar and >. ID. Farrar all
residents OF the Parish Of Tensas and State al
Louisiana and Oscar Jones "A resident of Chris
man, Illinois. who severally declared to me,
notary, that. availng 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 a. such other persons "a
may hereafter be associated with them, Ia
form and constitute "A corporation and body
polite In law for the objects and purposes
ana under the agreements and stipulations as
follows, to-wit:
ARTICLEI
The NAME AND TITLE Of this corpora
.0n shall be THE NEwELLTON ELEVATOR
COMPANY. INC, and by said name, said
corporation shall have succession and cor
pornte 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 ana he sued.
said corporation shall have power to make
ana use a corporate seal, and the same to
alter at pleasure, also To hold, lease, pur-
chese, sell and convey, as well "a mort IA ge
. ana hypothecate under its corporate name,
resi- 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 10
name and appoint such managers, directors
and Officers as its interest aud 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 tn POSSESS and exercise all Other powers
and privileges which corporations of a similar
character are or may he authorized to pos
sess and exercise under the laws and Con-
stftution Of the state of Louisiana.
ARTICLE H.
The PLACE chosen for the domicile of this
Corporation is Newcllton In the Parish of
Tensas and State of Louisiana.
ARTICLE III.
The PURPOSES Tor which said Corporation
has been organized are AS 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 otner appur-
tenances AID 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
cninery, such as engines, boilers, fans,
pumps, and connections, ETC., appurtenant
and necessary to the business herein estab-
lished.
To 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
tOmers, and to make and collect such charges
therefor as may be fixed by the authority
Of Directors.
And upon complying with Act 1853 of the
Acts Of the General Assembly for the year
1883, and with Act No. III of the Acts Of the
General Assembly of the state of Louisiana
Tor 1908, and the Constitution and Laws of the
state of Louisiana relative hereto, and gov
erntng the conduct, management and exis-
tence Of public bonded warehouses, to issue
public warehouse receipts to such person,
persons, firms corporations as may have
stored with IL any of the above mentioned ar
ticles, which said receipts are To conform
and be governed by the laws of the state OF
Louisiana made relative thereto.
To obtain or receive by purchase, grant,
gift 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-
-ctructiOn of such property, to issue its cor
bOrate bonds or prOmissOry notes, bearing
Interest at such rate per annum as its Board
OF Directors hereinafter provided for may
elect, payable at such times and places as
may be agreed upon, and for the security of
such OOnds or notes, and the interest thereon,
TO mortgage and pledge its property, its cap
ttal stock, Its corporate franchise, and any
or all Of its real or personal property, or
both.
ARTICLEIv.
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
Corporation, or upon any such other person
~ may be determined upon and desi gnated
by this corporation.
ARTICLEv
The amount Of the Capital Stock of this cor
pOratiOn shall be TWELVE THOUSAND
DOLLARS, divided into Twelve Hundred
Shares Of the par value of One Hundred Dol
lars each. This charter shall become opera
aive, and this corporation shall commence its
business as soon as one-half of its capital
stock 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
ttOn unless Ii be for money or property ac-
tually 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 or in the manner
Mxed by the Board of Directors, the shares
OF atOck subscribed for by him, and all pay
ments 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 stockhOlder Of said corporation shall
ever be liable or held responsible for its con-
tracts or faults in any further sum than the
unpaid balance OF the shares of stock owned
by MN, nor snail informailty in the organi-
xAtiOn have the effect of rendering this char
- null, or exposing stockholder Ia any liza
Sili1y beyond the amount of the stock sub
scRtSstion subscribed by him. ,
ARTICLE vi.
The corporate powers of this corporation
shall be vested In a Board of Directors com
posed of four members. The first Board of
Directors shall consist of and be composed
and constituted as follows, to-wit: ). ID.
Farrar, T.. &. Farrar, Oscar Jones and +. l..
Guthrie, each owning i'm his own right and
unplejKed more than one share OF capital
stock. The Directors herein named shall
hold ONCE until the first Monday in the month
of April, 1915 On the first Monday in the
month OF April, 1915. and annually thereafterI
ON the drst Monday in April of each year, al
general meeting Of the stockholders of said
.COrporation shall be held, and there shall be
selected "a many directors In serve during
the ensuing year as will be necessary to COM
;Dlete the Board. Notice Of the meeting of,
the stockholders shall be given by publica-
tttOn in a newspaper published in the Parish of
.Tensas, Louisiana, for fully ten days prior
thereto, or by a ten days notice in writing to
leach stOc kholder in this corporation.
AZ all elections the vote of a majority of tbe1
stock present ar represented snail be neces-
.standing stock of this corporation shall be,
necessary to constitute "A quorum at SUCH
election, and each stakeholder shall be en-
nikled to cast either in person or by proxy ones
VOfe for each share at stock held by him, but
can not vote ON any share of ste k transient
rQA within ten days prior To an election. ALI
Directors shall continue in Office until their
aucOnSsors are elected, and indicted into
ONCE. The Directors shall elect one of their
number to be President of said corporation
and another to be Vice president, and may
elect from among themselves. or appoint
from others who are not directors, another
person to be Secretary and Treasurer of this
corporation.
And the said Board IL il so determines may
also appoint an Assistant-secretary and As
nistant- treasurer, or one person To I'LL both
positions. II may also appoint General
Manager, and the person or persons To he
appointed need not necessarily be "A stock
holder or director of said corporation, and
Officers and employees as II may deem neces-
aary. IL shall have the power To I'LL all va