The Natchitoches enterprise., 1918-08-22
CHARTER OF
Farmers Cooperative Gin
And Mill Company, Inc.
STATE OF LOUISIANA,
PARISH OF NATCHIToCHES.

mat on CnlS Gay, before me ~ 1.
Smith, a duly qualified and commits
stoned Notary Public, in and for the
said State and Parish, personally came
and appeared, the persons whose names
are hereafter affixed, and who declared
that, availing themselves of the pro-
visions of the law of this state rel
ative to corporations, that they have
this day and do, by these presents,
agree and bind and form themselves in
to a corporation and body polite, which
they adopt as their charter, a. follows:
ART. I.
The name of this corporation shall be
and Is FARMERS COOPERATIVE GIN
AND MILL COMPANY, Inc, with its dom
icile in the City and Parish of Natchi-
toches, La, where it shall have and
enjoy corporate existence for a period
of fifty years, unless sooner dissolved.
ART II.
The purposes of this corporation shall
be, and are, to build, maintain and con-
duct a general gin and mill business; to
acquire by lease, sale or purchase the
necessary lands and tuildiDgs, machin-
cry, ETC., necessary for said business;
to engage in and carry on the ginning
and handling Of cotton, cotton seed,
corn and meal and their products, and
do and carry on all other matters neces-
sary to carry on and operate the same
in every way, with the right and power
to bny. sell, mortgage, pledge, hypoth-
ecate and borrow, as allowed oy law.
ARTICLE III.
The capital stock of this corporation
h hereby fixed at the sum of Fifteen
Thousand Dollars, with the right to in
crease same to Twenty Thousand, if
found necessary, which said capital
stock is divided into Fifteen Hundred
Shares. of the par value of Ten Dollars
per share, and shall be paid for in the
form and manner to be authorized by
the Board ot Directors; and this cor
poration shall be going concern, and
authorized to commence business as
soon as Ten Thousand Dollars of the
Capital stock is subscribed for.
ARTICLE Nv.
The corporate powers Of this corpo-
ration shali be Haanaged NY O Board of
Directors composed of seven stock
holders, four a. of whom shall compose
a quorum for transaction of any bus
mess, and the following shall be and
are hereby elected as the first Board.
to-wit: H F Grow, G ] Cook, 2 T Gal
lion, Jr, T f Porter. Il p Gatlin. NJ B
Tauzin, and G T Scott. who shall COM
pose the first Board, and shall hold Of
fee till their, successors are elected and
qualified; and the following are hereby
elected and shall compose the first Of
ficers, and hold Office till their success
ors are qualified and elected by the
Board, as directed, as follows to-wit:
President, G Cook; Vice-President, II
F Crow; Secretary Treasurer. 7 F
Porter, all OF which officers, after the
expiration of their present terms, shall
each year be elected by the Board of
Directors, and the Board of Directors
shall be elected at a general meeting TO
be held on the first Tuesday of July of
each year; but should the stockholders
fail or neglect to so meet and elect q
board. the same shall not in any man.
ner vitiate or annlll this Charter and
the board and officers. then in Office, shall
hold over and continue their duties
till new board and officers are elected
and qualified; and it is specially agreed
that at said meetings each stockholder
shall be entitled to one vote, and no
more, for any purpose.
ARTICLE v.
The board shall have full power and
authority to conduct and manage the
business of the corporation, and to del
egate what powers and authority it
deems best to its officers and employ
ees; to select, hire, employ, pay and
discharge all employees, and fix all sal
aries of officers, as it deems fit and
proper, and to perform all other duties
and powers necessary for the business.
ART vi.
The President, and in his absence,
the Vice-president, shall be the exec
utiye officer of the corporation, and
shall perform all duties usually and
generally delegated to and belonging to
that Office. and on them in the order
named shall all legal service ard pro-
cess be made.
ARTICLE VII.
All stock of this corporation shall be
ordinary stock, and none preferred; no
stock shall be sold or transferred by
any one, without the stockholder 30 Of
fering same, first offering the same, to
the Board of the corporation for ten
days and giving the corporation or its
members the first right to purchase
same ut its regular price, and any sale
or transfer made contrary to this pro
vision shall be null and void.
ARTICLE VIM.
No stockholder shall ever be held Ii
able or responsible for the faults or
contracts of the corporation Ia any fur
ther sum than the amount due by him
on his unpaid balance due on the cap
ital stock Of same.