The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1920-02-07
coLFAx, GRANT PARISH La SATURDAY FEBRUARY 1920

rectors then in office shall remain IN OF
flee until their successors shall have
been duly elected and qualified.
The Board of Directors shall annual
ly, at it's first meeting after election,
elect from its own MEMBERS presi-
dent. vice president and secretary |
and treasurer.
The Board of Directors shall have
power and authority, from time to time /
to name and appoint such other officers,
agents and employees as may be deem
ed necessary and to fix the compensa-
ton and define the duties of such offic- |
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-
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 SAID 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 stockhoid-
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 majority
thereof shallcontrol. In case of death,
resignation or inability to act of one or
more of said commissioners, the survi
y0r or survivors 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
liableor responsible for the 6sntracts,'
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 organiza-
ton have the effect of rendering this
charter null or of exposing stockhold-
err to any liability beyond the unpaid
amount, it any, remaining due his
stock.
| ARTICLE s.
4 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 tn,
, first Board of Directors of this corpo
ration:
II J. w. Capps, Georgetown, Louisiana
, W. j. Ecton, Georgetown, Louisiana
! A. r. Ricou, Georgetown, Louisiana
Il And j. w. Capps shall be president
! w. j. Ecton, vice president and A. K
i Picou shall be secretary and treasurer
: The said Board of Directors shal
hold Office until the first Tuesday il
January, 1871, or until their successor
: shall been duly elected and qualified.
o ARTICLE TEN.
q The subscribers to the capital stoc
u are:
: J. w. Caps, Forty-two shares; w. ]
n Ecton, Forty two shares; A. r. Picou
Forty-one shares
u The subscribers hereto have write
L opposite their respective names tn
l. number of shares of capital stock i
said corporation subscribed for by eac
of them, and this act of incorporate
shall also serve as the original subscriI
is ton list of said corporation.
:. This done and passed on the dai
x first above written in the presence (
I'll. L. Holmes and E. Z. Richardson
: competent witnesses, who have her,
q unto signed their names, together wit
:. !, me, Notary Public, after due readin
y of the whole.
!. Names. No of shares.
70 J. w. CAPPS, Georgetown, AZ
If w. J. ECTON, AZ
Il A. R. PICOU, /" Al !.
"a Witnesses:
r. j. l.. HOLMES.
m E. E. RICHARDSON.
" w. P. FOSTER.
IN Notary Public.
De STATE OF LOUISIANA l.
v, Parish of Grant
t. hereby certify that the within al
e foregoing is a true copy of the origin
or charter now on file and on record in tn