The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1918-02-09
c H A R T E R
PEYTAvIN PLANTING CO., INC.
United States of America-State of Louisi-
ana-Parish Of Orleans.

PEYTAvIN PLANTING CO., INC.
United States of America-State of Louisi-
ana-Parish of Orleans.
de 1T KNOWN. that on this 18th day of
ID the month of January. in the year of our
Lord one thousand nine hundred and
eighteen t1918), and Of the independence Of
the United States of America the one hun
dred and fcrty-second (142nd}, before me.
commissioned and qualified in and for the
parish Of Orleans, therein residing, and in the
presence of the witnesses hereinafter named
and undersigned. personally came and ap-
peared the several persons whose names are
hereunto subscribed. who declared that, avail
ing themselves of the provisions Of the laws
of this state relative to the organization Of
corporations, they have coyenanted and
agreed, and do by these presents covenant,
agree. bind. form and constitute themselves.
as well as such persons as may hereafter
join or become associated with them, into a
corporation and body, polite in law. for the
objects and purposes. and under the agree
ments and stipulations following. to-wit:
ARTICLE /.
The name and title of this corporation
shall be PEYTAVIN PLANTING COMPANY,
INC, and under its corporate name it shall
enjoy succession for the full term and period
of ninety-n years from ana aftef tne oa.e
hereof. and shall have power and authority
10 contract. sue and be sued; to accept ana
receive mortgages, pledges or other hypothef
cations; to make and use corporate seal
and the same to break and alter at pleasure;
to purchase, receive, lease, hold, or other
wise acquire and convey. as well as mort
gage and hypothecate under. its corporate
name, property both real and personal and
mixed: to borrow money and make and issue
bonds and other evidences of debt, and to Sc
cure the same by mortgage and otherwise;
to acquire, hold and reissue shares OF its
capital stock; to name and appoint such man
ayers and directors, officers and agents, as
the interest and convenience OF said corpora
ton may require; and to make and establish,
as we'll as alter and amend at pleasure, such
bylaws, rules and regulations tor the man
agement and regulation of the affairs of the
corporation as may be necessary, proper or
convenient.
- ARTICLE II
The domicile Of this corporation shall be In
the parish Of Ascension, state OF Louisiana,
and all citations or other legal process shall
be served upon any Of the OFFICERS OF tne
- ~ - @.'. ARTICLE III.
The objects and purposes for which this
corporation is organized, and the nature OF
the business to be carried ON by It, are mere
by declared to be: To engage u all sorts OF
agricultural operations: to hold, own, pur-
chase, sell, lease, develop and cultivate lands
and to produce thereon crops OF all sorts TO
operate sugar houses, rice mills, cotton gins,
and any other factories useful or convenient
ZCOnNGEL1ON$
to drain, irrigate. reclaim, COLOMBO. develop.
improve andedeal in lands Of alp sorts. rural
and urban; to raise. market ana deal ~ I'VE
stock and operate diaries; to build, lease ana
phone and telegraph lines. lighting plants
waterways and other means o. TRANSFORM
ton necessary or convenient IN prosecut.ng
the business of the company; to erect puIid-
ings and other structures. and 70 operare,
leage or tAerwise handle th@n and deal
therein to construct and operate commits
saries, boarding houses, hotels, warehouses
and general stores; to make advances for
the cultivation Of lands i; to develop, produce.
market and deal in minerals; to acquire and
hold, sell, cucumber or dispose of stocks and
bonds Of other companies TO the extent per
mitted by law; to hold stock in other COM
panies; to exchange Us entire capl,a. ss =
or any part thereof. for property which 1T IS
authorized to acquire. or to exchange IT'S en-
tire assets and business. or any part thereof
for property, stocks. bonds. or other ob!lga-
tions Of other companies TO deal IN aErlcu III
t,ral commodities Of all kinds and generally
to do all such acts or things rs may be ne
cessary. proper or convenient for the ac-
complishment of any Of the foregoing objects
and purposes.
Section /. The capital stock of this cor
poration is hereby fixed at the sum Of one
hundred and seventy-fve thousand ($l7b,-
0o0) dollars, divided into seventeen hundred
and fifty (17501 shares of the par value OF
one hundred G 81 001 dollars per share. OF which
Ave hundred 5000 shares ahall be preferred
stock and twelve hundred and Atty (1250)
shares shall be common stock. The COM
mon stock may be increased to two hundred
and fifty thousand dollars ($250,00O; no
change to be made in the preferred stock
except by unanimous consent Of the preferred
stockholders.
Section g. The holders Of preferred stock
shall be entitled to receive from the surplus
,r net profits of the corporation dividends at
&llc rate of seven per cent III per annunAv
and no more, payable on the first day OF
January of each year. Dividends on the
said preferred stock shall be cumulative from
January l, 1918. and shall have preference
and priority over the common stock, SO that
at no time shall any dividend be declared,
set apart for or paid on the common stock.
unless at such time all dividends on the pre-
ferred stock at the rate Of seven per cent ~
per annum which shall have matured shall
have been declared and paid in full. On the
first day of January, 1921 ten per cent (1o)
Of the original amount of issue of preferred
stock shall be retired; and similar amount
shall be retired on the first day of January
in each succeeding year until the whole Of
the preferred stock shall have been retired,
so that in the course Of ten years from the
first day of January, 1918, the whole of
the said preferred stock will have been re-
tired. Each holder Of preferred stock shall
the first day Of January. 1921, no dividends
shall be paid on common stock unless the
current installment due for retirement on
the preferred stock shall have been retired.
e the corporation desires to retire the pre-
ferred stock at more rapid rate than hero
inabove required. it shall have the right
Though it shall not be bound so to do at
par); provided that ~ thirty days advance
notice in writing shall be given to each stock
holder of intention to make such retireme nt;
t2p each stockholder shall have the same
of his holdings retired; and (3)
all accrued dividends at the ratesof seven per
cent % shall be paid in full up to the date
Of retirement. Any amounts of preferred
stock which the corporation may voluntarily
elect to retire shall be credited upon the
amounts which the corporation is required
to retire in the order in which such retire
'nents would mature
Section 8. In the event Of any liquidation.
dissolution or winding up. whether voluntary
or involuntary, Of this corporation the hold
ers OF the preferred stock shall be paid in
Full by preference over the common stock
holders the par. value of the preferred stock, |
together with all accrued unpaid dividends,
At the rate of seven per cent (7) per annum
Ehereon. After such payment to the pre-
ferred stock. the holders Of the common stock
shall be entitled to receive the remaining
assets and funds of the corporation in pro-
portion to the shares held by them respect |
vely.
Section A. After the payment of dividends
10 the preferred stock. as above set out, and |
such provision as is hereinabove required to |
Dc mAQe fOf tHe retirement Oh preferred STOCK, 1
The remaining earnings of The corporation
shall be available for the payment of divi-
lends to the common stock as the board Of /
directors may determine. /
Section s.. The whole or any portion Of the |
preferred or common stock of this corpora
ion may be issued and delivered to any per-
ION, firm or corporation for the acquisition of
he rights, privileges or property owned or
by such person, firm or corpora
ion for the fair value thereof as appraised |
" the hoard Of directors: ard The hna.i If |