The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1920-05-29

real, personal and mixed property; to
hold own. ALLEVIATE, lease, pledge or
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 cervice of
legal proc sss against it shall be made.
ARTICLE Ill.
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-
camille business wherein the corpora
ton may bhySahd sell groceries of all
kinds, graid; hay, and in fact all agri-
cultural products; to buy and sell the
products on commission or otherwise
and to carryyout 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.-
00), 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 it's 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 1907 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 may
be sold in the open market and may
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 exer-
cised by q 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 pawn 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
laws and to change the same; to hire.
appoint and discharge all
officers and employees, and to fix
their salaries, and to fill all vacancies
occurring in the board Of directors |
by death, resignation or otherwise. |
Each board of directors shall elect |
a President, Vice-President and a |
Secretary, who shall ex-officio be
Treasurer.
1t shall also elect a General Man.
ager, who shall have control of the bu-
siness affairs Of the corporation, SUBJ
lect to the orders of the board of d. |
rectors. The Secretary may hold this
office, but his tenure of office as
General Manager shall be subject TO
the will Of the board of directors.
The first board of directors shall
consist Of Leo Shields, Miles s. Hon
oins and d. R. Pinney; with Leo
Shields as President, and Miles s.
Hopkins as Vice-President. d. R. Pin
ney shall be the Secretary and Treas
lrer and General Manager; all of
whom shall hold office until the first
in March, 1921, or until their
successors shall have been duly elct-
ID and qualified.
On the first Monday of March.
1921. and annually thereafter. on the
irst Monday in Marchr of each
vear the stockholders shall meet for
he purpose Of electing a board of !,
directors ard the transaction of such
'ther business as may properly come
'efore the meeting.
Written notice Of the annual stock
lolders' meeting shall be delivered in
evson. or BY, depositing it in the most
nee address. to the stockholders
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