The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1918-08-17
CHARTER
Farmers Gin Co., Inc.
STATE OF LOUISIANA
Parish of Grant

are hereunto subscribed. who declared
that availing themselves of the consti-
tuition and laws of the State of Louisi-
ana and especially of Act 267 of the
Acts of the General Assembly of Lou
isiana for the year 1914. they have
formed and do by these presents form
themselves into and constitute body
polite and corporate in law under the
name and for the purposes and objects
hereinafter set forth in these articles
of incorporation, to-wit:
ARTICLE l.
The name and style of this corpora
ton shall be FARMERS GIN CO.,
INC. The domicile of the company
shall be at Colfax, Grant parish, Lou
isiana, and under its said name it shall
enjoy corporate life for period of fifty
years from this date.
ARTICLE 2.
The objects and purposes of this cor
poration are hereby declared 10 be as
follows: To buy and operate cotton
gin or gins at Colfax; to own and con-
troll site for the same; to buy and
sell cotton and cotton seed and their
products; to employ managers and la
borers necessary for the carrying on of
said businesses; and generally to do all
things necessary, proper and usual in
the conduct of said businesses.
ARTICLE 3.
The capital stock of this corporation
shall be fifteen thousand dollars, divid-
ed into six hundred shares of the par
value of twenty-five dollars per share,
and all stock issued shall be paid for in
cash. The capital stock of this corpor-
alton may be increased to the sum of
twenty-five thousand dollars.
ARTICLE a.
All the powers of this corporation
are hereby conferred on the Board of
Directors of this corporation, which
board shall consist of eleven stock
holders, and the first board of direc-
tors shall be as follows: L. O. Bostick,
K. l.. Carnahan, r. w. Richardson
and Alfred Huthnance, of Colfax, La. !;
John Abraham, of Marco, La; j. H.
Hodnett. of Colfax, La, R. F. d. No.
2; d. F. Williamson, of Colfax, La. !;
N. S. Roberts, of CoIfax, La. j. A.
Dean, Of Colfax, La. R. F. d. No. 2;
Tom Dean and Tom Futrell.
The officers of this corporation shall
be president, a secretary-manager
and a treasurer. At its first meeting
after the adoption of these articles of
incorporation the Board of Directors
shall elect from their number a presi-
dent, and they shall elect from the
stockholders of the company secre-
tary-manager and treasurer. They
shall also elect four vice presidents
from among the stockholders. The
president so elected shall preside at all
meetings of the Board of Directors,
and in his absence any one of the vice
presidents may be called upon to pre-
side. AT all such meetings each direc-
tor shall be entitled to one vote only
and he shall be present in person to
vote. At all stockholders meetings a
stakeholder may vote by proxy and
each stockholder shall be entitled to as
many votes as he owns shares of stock
in the corporation.
The Board of Directors now named
shall hold Office until the first Monday
in August, 1919, on which date the
stockholders shall meet to elect Board
of Directors for the ensuing year., and
each year thereafter the stockholders
shall meet on the first Monday in Au-
gust to elect Board of Directors.
All officers, managers, Iaborers and
employees of the corporation shall hold
their offices during the pleasure of the
Board of Directors. The board. how
ever, shall have the right to make con-
tracts for stated terms.
ARTICLE
None of the stock issued shall be pre-
ferred stock. All stock issued shall be
upon the same basis and of equal rank.
and in sales of stock this corporation
shall have preference over all other
purchasers at same price.
ARTICLE 6.
At its first meeting or as soon there
after as practical, the Board of Direc-
tors shall make and, adopt a set of |
rules and regulations for the conduct |
Of the business of this corporation, and
for the guidance of those intrusted
with the powers of administration of |
It's affairs and the operation of its gin
Or gins and other businesses.
In testimony the persons whose
names are hereunto subscribed have
his day, in the presence of the under
signed two competent witnesses. sign