The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1920-05-08

real, personal and mixed property; tt
hold own, ALLEVIATE, lease, pledge Of
mortgage the same: to incur debt
to borrow money and to issue notes
and other evidences Of Indebtedness
to appoint officers, directors, agents
or managers, as the interest of said
corporation may require; to establish
rules and regulations for the proper
management of its affairs. and to
change or alter the said rules and re-
gulations when necessary, and to do
and perform generally any and all
acts necessary and proper in carry
inc out the business and purposes OF
this corporation.
ARTICLE II.
The domicile of this corporation is
hereby fixed at Tallulah, Madison
Parish, Louisiana.
The President, or in his absence
the Vice-President, or in his absence
the Secretary, is designated as the
proper person upon whom service of
legal proc sss against il shall be made.
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 hereby declared to be to
conduct a wholesale and retail mer-
cantife business wherein the corpora
ton may buy and sell groceries of ali
kinds, grain, hay, and in fact all agri-
cultural products; to buy and sell the
products on commission or otherwise
and to carry out these objects and
purposes the corporation may do any
and all things necessary or Incidental
to the operation of such business.
ARTICLE Nv.
The capital stock of this CORPORA
ton is hereby fixed at the sum of
Thirty Thousand Dollars $3.50, 000.-
OO), divided into three hundred (300)
shares of the par value Of One Humid
red ($100.00) Dollars each: which
said stock shall be paid for in cash or
in property at the time of subscrip-
ton, or as the same may be issued,
at not less than its par value.
This corporation may commence
business when Ten Thousand Dollars
($10,000.00) of its capital stock is
subscribed for in accordance with the
provisions of Law.
Any stakeholder may sell his stock
in the corporation. provided that
thirty (30) days prior notice of such
intention to sell. assign or transfer
the same be given to the company,
and the other stockholders shall have
the first privilege of purchasing same;
after which thirty (30) days. notice,
in case the other stockholders do not
purchase the same. the said stock NAV
be sold in the open market and NAV
be transferred under the above con-
ditions, provided such transfer there
OF be made on the books Of the cor
poration at its office, on the surrender
of the stock certificates.
ARTICLE v.
The corporate power of this cor
poration shall be vested in and eyer
cised by board of directors of three
90 stockholders majority of whom
shall constitute a quorum for the
transaction of business, with full
power to purchase, receive by dona-
ton, sell, MORTGAGE, chattel mortgage,
pledge, pawn, convey, lease, either
as lessor or lessee. property, both real
and personal; to borrow money and
issue the company's negotiable notes
or bonds, either unsecured or secured
by mortgage on its real-estate, chattel
mortgage, pledge or nawn Of its per-
sonal property. and to do any and all |
other acts which this corporation is !
to do in carrying out the |
purposes and objects for which it is |
established; to make and establish by-
avs and to change the same; to hire.
employ, appoint and discharge all |
officers and employees, and to fix
'heir salaries, and to fill all vacancies
occurring in the board Of directors
oy death. resignation or otherwise.
Each board of directors shall elect
President, a Vice-President and a
secretary. who shall ex-oficio be
Treasurer.
1t shall also elect a General Man.
ger, who shall have control of the bu-
mess affairs Of the corporation, sub
ect to the orders of the board of d.
ectors. The Secretary may hold this
,ffice, but his tenure of office as
General Manager shall be subject to
he will of the board of directors.
The first board of directors shall
onsist of Leo Shields, Miles s. Hon
inns and d. r. Pinney; with Leo
shields as President. and Miles &
hopkins as Vice-President. D. R. Pin
ley shall be the Secretary and Treas
lrer and General Manager; all of !.
shom shall hold office until the first
donday in March, 1921, or until their
uccessors shall have been duly elct-
d and qualified.
On the first Monday of March.
9Zl, and annually thereafter. on the
rst Monday in Marchr of each
ear the stockholders shall meet for
ne purpose of electing a board of
irectors and the transaction of such
Their business as may properly come
efore the meeting.
Written notice of the annual stock .
olders' meeting shall be delivered in
erson. OF by depositing it in the post
fflce address IN fha sto,LL.JI-