The Morgan City daily review. (Morgan City, La.) 1916-1920, 1919-03-05


ed, as provided by law.
ARTICLE VII.
The capital stock of this company
shall be Fifty Thousand tS50,0O0)
Dollars, divided into FIVE Hundred
$500 shares of the par value of One
Hundred (Sl00) Dollars each, fully
paid and worcestershire, all OF said
shares to be of equal rank, provided
however, that said capital stock may
be increased as provided by law not
exceeding One Hundred Thousand
(SlOO0O0) Dollars, such increase OF
stock to be represented by shares OF
the par value OF One Hundred (Sl00l
Dollars each, fully paid and non-as>
sessable to 6e sold for such sum not
less than par, as the Directors may
elect. Stock may be paid Hor in cash,
or exchanged for services or proper
ty.
ARTICLE VIII.
Upon the expiration OF this charter,
either by limitation or action OF the
stockholders. its affairs shall be
1iquidated and wound up IN accord
ance with law
ARTICLE X.
The subscription Oh said ncOrpo
rators is represented by shlngie
mill with machinery and equipments.
operated as going concern; said
property being owned IN equal indi-
vision by the three incorporates, and
a detailed list Of said property, to-
gether with the value f. eof as ap-
praised by the Board q. Directors IS
hereunto annexed IS part OF this
charter MARKED Exhibit A
Subsequent subscriptions are to be
paid for in cash, or property IN such
instalmen.; as the Directors shall de-
termine. And that this act OF incor
poraton may also serve as sub,
scription list, the parties hereto have
affixed opposite their names the num-
Der of shares of capital stock for
which each subscribed
ARTICLE X.
This corporation shall become a
going concern as soon as Twenty
Five Thousand (S25.000) Dollars OF
the capital stock has been actually
subscribed.
Thus done and signed at Morgan
CITY. Louisiana, on this 18th day of
February 1919, in the presence OF
John NJ. Gallery and Jessie Black
witnesses, and me, Nota-
ry, after due reading of the whole.
(Signed)
Herbert NJ, Gotten Eighty-five (85)
shares
A NJ. Gotten Eighty-Five (85) shares
w. M. Gotten Jr., Eighty-Five 1851
shares.
John NJ. Caffery
Jessis Black
WITNESSES.
ROBT. E. BRUMBY,
Notary Public.
APPRAISEMENT OF PROPERTY
The undersigned, Herbert M. Cot
;en, A. M. Gotten and W. M. Gotten,
IT,, composing the Board of Direc-
ors of Gotten Bros. Shingie Co. Inc.
.fter having first been duly sworn to
lct in this matter according to the
,est of knowledge and belief, being
we'll and fully acquainted with the
hereinafter described property, in ac-
:ordance with law, after full discus
ion of the matter and careful exami-
lation of the said proper : and con-
liberation thereof, are of the opinion
hat the hereinafter described prop
,rty, belonging to Herbert M. Cot
en-, A. M. Gotten and w. M. Gotten,
r. in equal indivision, is well and
ruly worth the sum of twenty-five !
Thousand Five Hundred ($25 5000 |
Dollars and we accordingly appraise
aid property as whole, the said
rice of Twenty-Five Thousand Five
hundred (S25,500 Dollars and recon-
mend that same be accepted by the /
company at the said valuation as full
'ayment of the subscription of the
aid members for eigh,y-five (851. i
hares of stock each, subscribed by
hem.
DESCRIPTION OF PROPERTY
OWNED BY HERBERT M.
GOTTEN, A. M. GOTTEN &
w. NJ. GOTTEN JR. IN EQUAL
INDIVISION.