The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1920-02-14

ers and employees who shall hold Office
and employment at the pleasure of the
board.
The Board may make and establish,
as we'll as alter and amend any and all
by laws, rules and regulations neces-
sary and proper in its Judgment for
the conduct, support and management
of the business and 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-
yenient 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
upon complying with the formaiities
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 ii general meeting of the stockhold-
ers convened for such purpose; two
thirds in amount of the capital stock of
said corporation, represented at such
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 a majority
thereof shall control. In case of death,
resignation o. inability to act of one or
more of said commissioners, the survi-
vor or.s urvivors shall continue to act.
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 stockhold-
or to any liability beyond the unpaid
amount, ii any, remaining due 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:
]. w. Capps, Georgetown. Louisiana,
w. J. Ecton, Georgetown, Louisiana,
A. X. Picou, Georgetown, Louisiana.
And J. 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.
ARTICLE TEN.
The subscribers to the capital stock
are:
J. w. Capps, Forty-two shares; w. j.
Eeton, Forty-two shares; A. R. Picou,
F0rty-one shares
The subscribers hereto have written
opposite their respective names the
number of shares Of capital stock in
said corporation subscribed for by each
of them, and this act of incorporation
shall also serve as the original sub0crip-
ton list of said corporation.
This done and passed on the date
first above written in the presence of
]. L. Holmes and E. K. Richardson.
competent witnesses, who have here
unto signed their names, together with
me, Notary Public, after due reading
of the whole.
Names. No. of shares.
J: W. Caps. Georgetown, AZ
w. J. ECTON, . az
A. R. PICOU, :" Al
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 onfile and on record in this
Office. Filed for record on the 18th day
of Jan. A. ID. 1920, and recorded on
same date in book No. 1, of Corpora
ton Charters. at page 81 ct. seq. of the
Records of Grant Parish. La.
Witness my fficial seal and sigma
ture on this the 18th, day of January,
A. D. 1920.
J. J. O'QUINN.
Clerk and Recorder.
Notice of Final Proof.
U. S. Land Office at Baton Rouge, La.
January O 1Q10