The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1920-02-21

sary and proper in its Judgment for
the conduct, support and management
of the business end affairs of said cor
poration. The said Board shall have
full power and authority to borrow
money, execute mortgages and create
liens; to issue bonds, notes and other
obligations and to secure same by
mortgage, pledge or otherwise, and
generally to do any and all things, con-
venient or necessary for the proper
carrying on of the business and affairs
of said corporation.
The Board of Directors may issue
full paid shares of stock for cash or in
payment Of labor done and performed
for said corporation or for property
actually received by sain corporation
upon complying with the formalities
required by law.
ARTICLE 6.
Whenever this corporation shall be
dissolved, either by limitation or from
any other cause, its affairs shall be
liquidated by three commissioners to be
elected from amongst the stockholders
at general meeting of the stockhold-
ers convened for. such purpose; two
thirds in amount of the capital stock of
meeting, shall be requisite to elect.
Said commissioners shall remain in Of
fee until the affairs OF said corporation
shall be fully liquidated. In the event
OF disagreement between said COM
missioners, the action of majority
thereof shall control. In case of death,
resignation or inability to act of one or
more of said commissioners, the survi-
,,-xysxy oh
Said commissioners shall have all pow
ers conferred on them by law or by the
stockholders at such meeting, if not in
consistent with law.
ARTICLE z.
| No stakeholder shall ever be held
liable or responsible for the contracts,
| faults or defaults of said corporation in
any further sum than the unpaid bal
ance, if any due the corporation for
| the shares of stock ownen by him, nor
shall any mere informally in organize
ton have the effect of rendering this
charter null or of exposing a stockhold-
er to any liability beyond the unpaid
amount, it any, remaining que his
stock.
ARTICLE 8.
| This act of incorporation may be
changed, modified. or amended, or the
capital stock may be increased or de-
! creased, or said corporation may be
dissolved in the manner now or here
after provided by law.
ARTICLE NINE.
The following shall constitute the
first Board of Directors Of this corpo-
ration:
J. w. Capps, GEORGETOWN. Louisiana.
w. ]. Ecton, Georgetown. Louisiana,
A. r. Picou. Georgetown. Louisiana.
And ]. w. Capps shall be president,
w. j. Ecton, vice president and A. r..
Picou shall be secretary and treasurer.
The said Board of Directors shall
hold Office until the first Tuesday in
January, 1871, or until their successors
shall been duly elected and qualified.
i ARTICLE TEN. (.
! The subscribers to the capital stock
are:
~. w. Capps. Forty-two shares: w. J.
Ecton, Forty-two shares; A. r. Picou,
Forty-one shares.
The subscribers hereto have written
opposite their respective names the
number of shares of capital stock in
SdlO COIpOIdtiOu SuUSCTlDeu lOE Oy each
of them, and this act of incorporation
shall also serve as the original subscrip-
tion list of said corporation.
/ This done and passed on the date
i first above written in the presence Of
~. L. Holmes and E. Z. Richardson,
competent witnesses, who have here
unto signed their names, together with
me, Notary Public, after due reading
of the whole
II Names. No. of shares.
| J. w. Caps, Georgetown, q
". J. ECTON, AZ
A. r. PICOU, q" al
i Witnesses:
| j. L. HOLMES.
| E. E. RICHARDSON.
/ w. p. FOSTER,
| Notary Public.
STATE OF LOUISIANA
/ Parish of Grant
| hereby certify that the within and
foregoing is true copy of the original
charter now on file and on record in this
Office. Filed for record on the 10Th day
of Jan. A. D. 1920, and recorded on
same date in book No. I, of Corpora
ton Charters, at page 81 ct. seq. Of the
Records of Grant Parish. La.
Witness my fficial seal and sigma
trre on tnis fho 18th dov of T>nuor,,