The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1920-04-17
CHARTER
Articles of Incorporation of the Madi-
son Grocery and Grain Com
Pany, Incorporated.
STATE OF LOUISIANA,
PARISH OF MADISON.

Public in and for said ParlSn ana
State, duly commissioned and quail
fled according to law, and in the
presence of the witnesses hereinafter
named and undersigned, personally
came and appeared +Ne persons whose
names are hereunto subscribed, all
above the full age of majority. who
severally declared that, availing them
selves of the laws of this State rela-
tive to the organization of corpora
tons, and particularly of the pro-
visions of Act No. 267 of the Acts of
the General Assembly of Louisiana
for the year 1914. they have formed
and organized. and bv these presents
do form and organize themselves as
well as such other persons who may
become associated with them and
their successors, into a corporation
and body polite in law for the OBJ
jects and under the stipulations and
agreements hereinafter set forth and
expressed, which they do hereby
adopt as their Charter.
ARTICLE l.
The name and title of the CORPORA
ton hereby formed. is the MADISON
tGROCERY AND GRAIN COMPANY,
INCORPORATED.
It shall exist and enjoy succession
by its corporate name for the period
of ninety-nine fo9) years from and
after the date hereof unless sooner
dissolved; its certificates of stock shall
be signed by the President and Secre-
tary and bear the impress of the seal
CT the corporation: it shall have power
and authority to contract, sue and be
sued. to adopt, use and break or alter
at pleasure, corporate seal; to ac-
auire by purchase, lease or otherwise,
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 fer 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
ino out the business and purposes of
this corporation.
r 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 earvice of
legal process against it shall be made.
ARTICLE III.
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 buy and sell groceries of ali
kinds, grain, hay, and in fact all agri-
cultural products; to buy and sell the
products on commission or otherwise
and to carry out these objects and
purposes the corporation may do any
ard all things necessary CT incidental
to the operation of such business.
ARTICLE ".
The capital stock of this corpora
ton is hereby fixed at the sum of
Thirty Thousand Dollars (S30.C00.-
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 its par value.
This corporation may commence
business when Ten Thousand Dollars
| (S1O, 000.00) of it's capital stock is
subscribed for in accordance with tn 4
provisions of law.
ANY stakeholder may sell his stock
! in the corporation, provided that
thirty (30) 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 tranker there
of be made on the bool;s Of the cor
poration at its office, on the surrender
of the stock certificates.
- ARTICLE v.
The c6rporate power of this cor
poration shall be vested in and exer-
cised by board of directors of three
CD stockholders a majority of VIII IN
shall constitute 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 rea,
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 rawn of its per-
sonal property. and to do any and all
other acts which this corporation is
authorized 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
employ. appoint and discharge all
officers ard 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. a Vice-President and a
Secretary, who shall ex-officio be
Treasurer.
II shall also elect a General Man.
ager, who shall have control of the bu-