Abbeville progress. (Abbeville, Vermilion Parish, La.) 1913-1944, 1920-07-03

y. and W. Tucker ............ "a sharas
Mrs. Lorens Stebbins by + c. Stch
bins, II shares
Total number Of shares Of the capital
stock of Abbeville Mercantile Co., re.
presented in person and by proxy be.
ing seventy nine (79) shares.
There being stockholders present in
person by proxy, as above set out, wlo
together own more than two thirds of
all the stock of the Abbeville Mercau.
tile Co., the meeting was then organize
by electing E. NJ. Stebbins as chairman
and F. c. Stebbins as treasurer of the
meeting.
The purpose of the meeting was then
read to the stockholders present bv F.
C. Stebbins, secretary, copy of wlich is
above set forth.
H. A. Eldredge then moved, which
motion was duly seconded. that the
following resolution be adopted by the
stakeholder meeting to.wit:
Be it resolved that the capital stock
of the Abbeville Mercantile Co.. be in.
creased from TEN THOUSAND Dol.
LARS ($l0,OO0.00) the present amount
to TWENTY FIVE THOUSAND DOL.
LARS 1925, 100000; the additional capt.
tai stock of FIFTEEN THOUSAND
DOLLARS (sl5,o00.o0) be represented
by One Hundred Dollars each, which
additional capital stock of Fifteen
Thousand Dollars per share, he said
additional stock shall be paid for at
One Hundred Dollars per share. the said
additional stock to be distributed equal.
ly among the stockholders now Of
record in proportion to the number Of
shares of stock now held by them, and
accordingly Article No III Of the Char
ter of the Abbeviiie Mercantile Com.
pany be, and the same is hereby amend.
ed and re-enactsd to read as follows,
to-wit:
ARTICLE THREE
The CAPITAL Stock of this Corporation
shall be TWESTX -ztI1-E THOUSAND
DOLLARS ts25, 100000, divided into
Two Hundred and Fifty (2j0) Shares
If One Hundred Dollars each, but it
shall begin business as soon as one half
Of the subscribed stock shall be paid
in, the remainder of the capital stock
shall be paid up within ninety days.
Said stock shall be transferable only
en- the Stock Books Of the Corporation,
on surrender Ct or due pro of OF loss of
said certificates but transfer of stock
snail be valid or binding on. this corpor'
alton until the same shall have been
duly entered on its books.
The motion was duly put and was
unanimously carried by the stockholders
present, the number of shares voting
for the adoption of the above and
foregoing resolution and amendment
to tie Charter, Seventy Nine (79) and
against, none.
All members present having voted
for the above resolutions, being more
than two third (2-3) Of the total share,
of the Capital Stock Of the Abbeville
Mercantile Company, 1t was declared by
the Chairman to be unanimously car
ried and adopted
Upon motion of II. A. Eldredge, duly
seconded by s. P. Watts, the following
resolution amending Article Four Of
the charter Of the Abbeville Mercantile
Company, was read by the Secretary
and was unanimously adopted
BE 1T RESOLVED, that Article "
Of the charter Of the Abbeviile Mefcan
tile Company be and the same is hereby
amended and re-enacted to read as fol
lows: \
All the corporate powers Of this cor
poration shall be exercised by a board
Of Five 90 directors, three of which
shall consist Of the President, Vice
President and treasurer
Three of said board shall constitute
quorum for the transaction of bushes,
and their decisions shall be valid cor
1orate acts.
The following persons shall consti
,tute the first Board of Rireetors:
E. NJ. STEBBENS, President, Alb
heville, La
w. j. sTEBBINS, vice-P President,
Abbeville, La.
NORMA TUCKER, Secretary Treas
u-er Abbeville La.
H. A. ELDRErGE,
F. c. STEBB1NS.
ANY stoekholder who has one shar,
If the capital stock of this corporation
fully raid and unpledged, may becom'
director.
During the absence of the Presiden
the Vice President shall act and pre-
side
Said Board shall continue in offiej
until the next annual election provided
for in the charter, on which date, ant
annually there after, the Board ofDirec
toys shall be elected, unless the sam
shall he q holidav, when the election
shall be held on the next legal ds!
thereafter
Notice of such election shall be givei
by registered letter directed by the See
v-Trearurer to each of the Stock
holders of the Corporation, And a fail
ure from anv cause whatever to elec
the directors on the day named 70
that purpose shall hold over until thei
successors are elected or chosen. In tina
event, the President shall cause anot1e
election to be held within thirty dav:
and stall give notice as hefeinbsfoi
provided.
Az every election and meeting, eacI
stockho'der shall he entitled to vot
for each share If stock registered Il
his name and ma vote by PROXY,
| The election of directors shall be b.
ballot, and tie majority in arnoun
Of votes cast.
Each share of stock voted upon TO b
counted AZ one vote. shall elect the pei