Abbeville progress. (Abbeville, Vermilion Parish, La.) 1913-1944, 1920-07-17
Abbeville. La, June 4th, l9-o

the said 4th, day Of June, l9-O, at the
office OF the company at ITS dUmIcIte III
tle Gown Of Abbeville, La, at the hour
) 0 clock +. NJ, III person or BY proxy
as hereinafter stated, and who held and
hold the number OF shares OF capital
stock OF the Abeville Mercantile Co.,
OF Abbeviiie, La. to-wit:
! h. Vi. SteUbmS ....-.-----.--...-2U shares
ii. \. Eidredge ...-...---,..-..-. snares.
Mrs. 5. =. Watts ...-.--.....-.-.-. shares.
! +. c. Stebbins .-.... ...... ..--.. II shares.
n. and W. tucker ..-......----. ~ suares.
Mrs. Lorena Stebbins by + C.. Steb-
bins, II shares
Tota number Of shares II the capital
stoc6 OF Abuevilie Mercantile Co., re-
presented i'll person aud oy proxy, be-
ing seN enty nine 49, shares.
| There being stockholders present IN
| person by proxy, as above set out, WAC
together own more tnan two thirds OF
all the stock of the Abbeville Mercan-
tile Co, the meeting was then organized
/ by electing Z. NJ. Stebbins as chairman
and r. {. Stebbins as treasurer of the
meeting.
The purpose of the meeting was then
read to the stockholders present by +.
{. Stebbihs, secretary, copy OF watch is
above set forth.
H. \. Eldredge then moved, which
motion was duly seconded, tlat 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
LAkS ($l0,OO0.00) the present amount
to TWENTY FIVE THOUSAND DOL
LARS 1925, 100000; the additional CAPT
tai stock of FIFTEEN THOUSAND
DOLLARS ($l5,000.00) 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 i'll proportion to the number Of
shares of stock now held by them, and
accordingly Article No III of the Char
ter of the Abbeville Mercantile Com
pany be, and the same is hereby amend
ed and re-enacted TO read as follows,
to-witi
ARTICLE THREE
The Capital Stock of this Corporation
shall be TWENTY FIVE THOUSAND
DOLLARS s25,ooo.oo), divided into
Two Hundred and Fifty {250J Shares
of One Hundred Dollars each, but 1t
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 ninetr days.
said stock shall be transferable only
on the Stock Books Of the Corporation,
on surrender cf or die pro of OF loss of
said certificates but transfer of stock
snail be valid or binding OIL 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 the 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 shares
of the Capital Stock of the Abbeville
Mercantile Company, it was declared by
the Chairman TO be unanimously car.
ried and adopted,
Upon motion OF H. A. Eldredge, duly
seconded by 8. 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 If the Abbevile Merean. |
tile Company be and the same is hereby
.mended and re-enacted to read as fol. |
Tvs:
All the corporate powers Of this cor.
polation shall be exercised by board
t Five % directors, three of which
hall consist of the President. Vice
President and Sscretarv.treasurer
Three of said board shall constitute
a quorum for the transaction OF business
and their decisions shall be valid CIR
poIate 6ets.
The following persons shall eon.tl.
ute The first Board Of directors:
f, NJ. STEBBINS, President, Alb
0eville; La
W. J. sTEBBINs, vice-Presiden.,
Abhevilie, La
NORMA TUCKER, Secretary Treas,
uyer Abbevi!le La.
H. A. ELDRFDGE.
T. c. STEBBINS,
ANY stakeholder who has one share
Of the capital stock Of this corporation,
full raid and unpledged, may become
a director.
1During the absence of the President
II Vice-President shall act and pre-
sfle.
said Board shall continue In Office
until the next annual election provided
for in the charter, on which date. and
annually thereafter, the Board ofDirec
tors shall be elected, unless the sams
shall be holiday, when the election
slall be held on the next legal dav
thereafter
Notice of such election shall BE- ttven
by registered letter directed bv the Sew.
retarv-Trearurer to each of the Stock.
holders Of the Corporation, And a fail
IRE from any cause whatever to elect
the directors on tie day named for
that purpose shall hold over until their
successors are elected or chosen. In that
event, the President shall cause anotlsr
election to be held within thirty dsvs,
and stall give notice as hereinbsfoiv