The Donaldsonville chief., 1918-02-23


EHARTER
of -~
PNrAyrN PLANTING Co, INC.
nj ed Safes of America--State OF Loulsl-
ana-Parish Of Orleans.
m- TT KNOWN sta+ on this 18th day OF
N sEs.st5 VI #&e84ggs IN The year OF our
Lord one shousand nine hundred and
.ishteen (1s1s}. and of the independenee oa
he United States of America the one hun
l-ed and fortv-seccnd t142nd), before me
sE.0e>- U r.ertch notary public, duly
~ a.d qualified in and for the
s-eH- herein reaiding. and IN the
,,,ca af he Witnesses hereinafter named
"a artersirned personally came and ap- |
5eared the several persons whose names are
hereunto subscribed. who declared tnaI' avan-
ing themselves of the provisions OF tne Jaws
,f this state relative to the organization OF
corporations, they have covenanted ana
agreed, and do by these presents covenant
agree bind, form and constitute themseine''
as well as such persons as may hereatter
ioin or become associated with them, into
corporation and body polite in law, Tor tne |
objects and purposes. and under the agree |
ments and stipulations following, to-wlt:
e ARTICLE I.
Tho name and title of this corporation
shall he PEYTAVIN PLANTING COMPANY,
NC. and under its corporate name ie snai
of ninety-nine years from and after the oate
hereof. and shall have power and autnorlty
to contract, sue and be sued; to accept aho
receive mortgages, pledges or otner hyposne,
cations: to make and use q corporate sea-
and the same to break and alteret pleasure;
to purchase receive. lease, hold, or otneI-
wise acquire and convey. as well as mors-
gage and hypotheeate ander fts eolpo.as5 ..s
name propsrty both real and personal ano
mixed: to borrow money and make ana issue
bonds and other evidences OF debt, ana 70 se
cure the same by mortgage and ctneTWise
to acquire. hold and reissue snares ol ,.e
capitai stock to name and appoint such man
arers and directors, officers and agents, as
the interest and convenience OF saad corpora-
ton may require; and to make ana estapAsI'
as we'll as alter and amend at pleasure sasn
agement and regulation Of the affairs or the
corporation a. may be necessary, proper OF
convenient.
The domiciie Of this corporation shal! pc IN
the parish Of Ascension. state OF Louisiana;
and ali citations or other legal process snaH
be served upon any OF the on1cess Oh Tue
corporation.
The objects and purposes for when 1hls
corporation 10 organised. ana tns nasu M hare. ~
the business to be carried on by it, are mere.
bv declared to be: To engage m all sorts OF
agricultural operations; to hold, own puI-
chasa. SELL lease. develop and cultivate lanos
and to produces thereon esopy p,. =, go cotton gins.
and any other factories useful or conven1eht
in connection with agricultural operattons'
To drain. irrigata. reclaim. coionize, develop,
improve and deal in lands Of al so sosSs; i % I've
stock and operate dafries; to build, lease anu
operate tramroads, bridges. canals and tele-
phone and telegraph lines. lighting plants'
waterways and other means s ot aaaa.'t,ne sranspo,
the business of the company; to erect puIu-
ings and other structures, and 10 Operate;
l lease or otherwise handle them and deai
| therein: to construct ana operase sahanass sy
| and general stores; TO make advances 1or
| the cultivation Of lands; to develop, produce,
| market and deal in minerals; TO ACQUIRE sno
hold sell. cucumber or dispose OF stocas ara s"a
| mitted by law; to hold stock IN other com
| panies: to exchange its entire capital STOCK.
or any part thereof. for property when II is
authorized to acquire. or to excnange its ~
| tire assets and business. or any Fart thereof
for property stocks, bonds, sr otner oon9a-
tioAs of other companies; to deal in agr1cni-
tural commodities Of all kinds; and generaliy
TO do all such acts or things as may De ne
cessary, proper or convenient Tor the ac-
eornplishment Of any of the foregoing objects
1l'e pNN '~ ARTICLE ~.
Section /. The capital stock Of this cor
! poration is hereby fixed at the SUM Of one
hundred and seventy Ave thousand $50; .saao.;
and fifty (1750) shares Of the par value O
one hundred Isl 10o) dollars Per share. OF wnicn
1 Ave hundred (5O0) shares shall be preierfeo
shares shall be common stock. The com,
mon stock may be increased to two nundreo
II and atty thousand dollars t$260 0,o0os; NC
sshange to be made in the preferred stock
except by unanimous consent o. the pre1elre0
i Section o. The holders Of preferred stock
II shall be entitled to receive from the surplus
or net profits Of the corporation DIVIDENDS al
the rate Of seven per cent go per per annum ann 9;
4 January of each year. Dividends on the
said preferred stock shall be cumulative from
January /, 1913. and shall have preference
and priority over the common STOCK, SO ina
set apart for or paid on the common stock
Il unless at such time all dividends on the pre-.
ferred stock at the rate OF seven per cent (71
per annum which shall nave matnred snai "a
have been declared and paid in full. On tbs
firA day Of January, 1921. ten per cent (10)
of the original amount OF issue Of preferred
stock shall be retired; and q similar anoun,
shall be retired on the hrst day OF Januars
i in each succeeding year until the whole o.
the preferred stock shall have been retired
!! 1 SO that in the course Of ten years from the
, , first day Of January. 1913. the whole o.
, the said preferred stock will have been re
tired. Each holder OF preferred stock shall
have his stock retired proportionately. Aftel
the first day Of January. 1921, mo dividends
shall be paid on common stock unless tn'
current installment due for retirement OF
the preferred stock shall have been retired
II the corporation desires to retire the pre-
ferred stock at q more rapid rate than here
inabove required. it shall have the rish
!, (though it shall not be bound so to do q
par); provided that ~ thirty days advance
l notice in writing shall be given to; each stock
!. . holder OF intention to make such retirement
(2) each stockholder shall have the sam,
proportion of his holdings retired; and (3,
:. all accrued dividends at the rate Of seven pc
/, cent (7) shall be paid in full up to the dat,
stock which the corporation may voluntaril,
elect to retire shall be credited upon th
u amounts which the corporation Is Required
to retire in the order in which such retire
ments would mature.
Section 3. In the event of any liquidation
dissolution or winding up, whether voluntar!
, or involuntary. of this corporation, the hold
, ers Of the preferred stock shall be paid II
full by preference over the common stock
holders the par value Of the preferred stock
. together with all accrued unpaid dividends
j at the rate of seven per cent ~ per annun
thereon. After such payment to the pre-
Eferred stock, the holders Of the common stccl
shall be entitled to receive the remaining
assets and funds of the corporation in pro
portion to the shares held by them respect
: lively.
Section 4. After the payment OF dividend
{ to the preferred stock, as above set OUT an,
I such provision as Is hereinabove required t,
be made for the retirement Of preferred stock
the remaining earnings Of the corporation
. shall be available for the payment OF divi
dends to the common stock as the board O
:, directors may determine.
Il Section 6. The whole or any portion OF tn
preferred or common stock Of this corpora