The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1917-09-22
CHARTER
Economy Store Company, Inc.
STATE OF LOUISIANA !

clared to me, notary public of the par
lsh of Grant, duly commissioned and
qualified, and in the presence of the
undersigned witnesses, that availing
themselves of the constitution ana the
laws of the State of Louisiana, and es-
pecially of Act No. PCT of the General
Assembly of the State of Louisiana for
the year of 1914. they do hereby organ
ize themselves as well as such others
as may hereafter become associated
with them into a corporation, under
the following stipulations, conditions
and articles of incorporation.
ARTICLE L.
The name of this incorporation shall
be the ECONMY STORE CO., INC.
ARTICLE 2.
The domicile of this corporation shall
be at Colfax, Grant Parish, Louisiana,
and the. period and duration of this cor
poration shall be for the period of nine
ty nine years unless sooner Dissolved by
its stockholders or by operation of the
law.
ARTICLE 8.
The capital stock of this corporation
shall be FIVE THOUSAND DOLLARS
and shall consist of Fifty Shares at a
par value Of ONE HUNDRED DOL
LARS each. The capital stock of this
corporation may be increased to Ten
Thousand Dollars, all the stock shall
be common stock and shall paid for in
cash or its equivalent.
ARTICLE
Twenty-Five shares of the capital
stock of this corporation shall consist
of goods wares and merchandise, own
ed by the stock holders ard transfer
red to the corporation, and the stock in
the corporation shall be issued to the
subscribers in consideration of the
transfer to the corporation the stock of
goods, ware and merchandise, detail
ed list and description of which with
the value thereof is hereto attached to
this charter and is to be read in con-
nection with the charter.
ARTICLE 5.
The object and purposes for which
this corporation is organized is declar-
ed to be to carry on general merchan-
disc business in Colfax, Grant Parish,
Louisiana, to buy and sell all goods,
wares and merchandise, and to do and
to perform all business connected with
or incident to the carrying on OF gen.
eral merchandise business.
ARTICLE
The affairs of this corporation shall
be under the direction and control of a
board of directors, composed of three
members, who shall be stockholders in
the corporation.
The following board of directors have
been elected to serve for the year COM
mencing with the date of adoption of
this charter, who shall serve for the
period of one year or until their success
sors shall be elected and qualified: E.
S. Murrell, B. B. Dean, and A. c. Fair
cloth, all of Colfax, La.
ARTICLE
The officers of this corporation shall
be a president, a vice-president and
business manager and secretary and
treasurer. The office of secretary and
treasurer may be held by the same
person.
A majority of the directors shall
constitute quorum for the transaction
of business.
Any vacancy in the board of direc-
tors shall be filled by the remainder of
the board.
ARTICLES.
The following officers are elected for
the first year or until their successors
are elected and qualified. President,
E. S. Murrell; Vice-President and
Business Manager, B. B. Dean; Secre-
tary and Treasurer, A. c. Faircloth.
ARTICLE
The officers of this corporation shall
be elected annually on the first Monday
of September of each year, commenc-
ing with the first Monday of Septem-
Der, 1918, and annually thereafter, and
they shall be elected in the manner and
forms as prescribed in Act 267 of 1914
General Assembly of the State of LOU
isiana.
ARTICLE 10.
This corporation shall have succession
for the period of time named for its
existence and under its corporate name
shall be sued and shall have authority
to sue, shall make and use a common
seal, shall have authority to acquire
and own property real and personal,
by purchase or otherwise, and to lease.
sell, mortgage or dispose of the same,
and to do all other matters and things
necessary to carry on the business for
which the corporation was organized,
subject to the restrictions and limita-
tons as prescribed by law.
They shall have the power to employ
such agents and employees as they may
see fit to carry on the business and to
fix their compensations, and when so
desired to wind I'D and dissolve the
under the charter and the
law set forth relative to the dissolving
and liquidation of corporations.
They shall have authority to trans
act business in the State of Louisiana
and the territories of the United States
and to hold stock in other corporations.
ARTICLE IL.
No stakeholder of this corporation
shall ever be liable or responsible for
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