The weekly Iberian. (New Iberia, La.) 1894-1946, 1921-11-19
CHARTER OF
Progress Mercantile Co., Inc.
STATE OF LOUISIANA,
PARISH OF IBERIA,
TOWN OF JEANERETTE.

Gay OF the nlOnJn OF OCLODeT, lJII,
before me, A. B. McGowen, Notary
Public, duly commissioned and quail
fed in and for the Parish of Iberia,
State Of Louisiana, and in the pres
ence of the witnesses hereinafter
named and undersigned, personally
came and appeared, Arthur Robinson,
Alfred Jones and Frank Wallace, all
residents of the Parish Of Iberia,
State Of Louisiana, the post office ad-
dress of the above named incorpora
tors being Jeanerette, Louisiana, and
all being of full age of majority,
who severally declare that, awaiting
themselves to the Laws Of the State
of Louisiana relative to the organic
ing of Corporations of limited liabili
ty, and particularly the provisions OF
Act No. 267 of the General Assem-
bly, of the State Of Louisiana Of 1914,
they have covenanted and do hereby
covenant, contract, bind and obligate
themselves and all such persons as
may hereafter become associated
with them herein, to organize, form
and constitute corporation or body
polite in law, under the style and
title, for the objects and purposes
and under the conditions and stipu-
lations following, toWlt:
ARTICLE /.
The name and title of this corpo-
ration shall be the Progress Merch-
antile Company, Inc, and under its
said corporate name it shall have
power and authority to exist and have
succession for period Of ninety-nlne
wears from the date of this act OF
corporation, and under its said name
it shall have power to contract, to
sue and be sued, to obtain and use a
corporate seal, and the same to alter
and break at pleasure; to hold, sell,
purchase, lease and convey under its
corporate name, property either real
or personal, corporeal or lncOrporeal;
to elect and appoint such officers,
directors, agents, bookkeepers, clerks
and other representatives and en-
ployees as said corporation may re,
quire; to fix the salaries thereof. and
to make and establish such bylaws,
rules and regulations as may be
deemed expedient for the proper con-
duct and management OF the AFFAIRS
of said corporation, and the same to
change, alter or amend at pleasure.
ARTICLE II.
The domicile of this corporation
shall be the Town Of Jeanerette,
Parish of Iberia, State of Louisiana,
all citations and other legal pro-
ceedings shall be served upon the
President, or in his absence upon the
Vice President, or in the absence OF
both, upon the Secretary Of this cor
poration.
ARTICLE III.
The objects and purposes for which
this corporation is organized and the
nature of the business to be carried
on by it is declared to be any one or
all Of the following, to-wit:- To
buy and sell all kinds Of merchan-
disc, goods and wares, and to carry
on a general mercantile business,
both wholesale and retail, as well as
to buy, own, receive, hold, lease, or
sell; pledge, mortgage or hypothecate
real, personal or mixed property, and
to any and all things necessary for
the proper conduct and furtherance
of the business of the firm.
ARTICLE Nv.
The Capital Stock of this Corpora
ton is hereby fixed at Three Thous-
and $4,000. OO) Dollars, divided into
three thousand 10000 shares OF One
Isl .OO) Dollar each. All stock issued
to be paid for in cash or its equival-
ent in property or labor done when
stock is issued.
This Corporation shall be authoriz-
ed to begin business as soon as ma,
iority Of the shares Of stock shall
have been subscribed for and sold.
ARTICLE v.
All the corporate powers OF this
corporation shall be vested in and
exercised by a Board of Directors,
composed of seven stockholders, five
of whom shall constitute q quorum
for the transaction of business, the
said Board shall be elected each year
at an election held for that purpose
on the First Thursday of January OF
each year, of which said election M
teen days notice shall be given prior
thereto by written notices sent by
mail to each Of the stockholders at
least fifteen days prior to said cleo
ton. Each stakeholder shall be entitl-
ed to as many votes as he shall have
shares of stock, which may be cast
in person or by proxy, and MAORI.
ty of all votes cast shall elect, and
case of tie vote in any said cleo
tions, or in any other business mat
ter or controversy arising at any
meeting or meetings of the stock
holders or of the Board of Directors,
the deciding vote shall be cast by
the President. A failure to elect di-
rectors on the date above specified
shall not have the effect of dissolv-
ing this corporation but the incumb-
emit directors or officers shall, in such
event, hold office until their success
sors shall be elected and qualified
under a meeting held after notice
duly given as above prescribed. Any
vacancies occurring in the Board Of
Directors shall be filled from the
Stockholders by the remaining Board
of Directors.
ARTICLE vi.
The officers of this Corporation |
shall consist of President, Vice |
President and Secretary and Treas |
urer. The Office of the Secretary and |
Treasurer may be held by one and |
the same person, as decided upon by |
the Board Of Directors. The said Of |
ficers shall be elected by the Board |
of Directors at the same time that |
the Board Of Directors are elected.
and the officers thus elected shall |
have power to employ such clerks,
bookkeepers, agents and employees
as are necessary for the business of
said Corporation, and to fix the sal
aries for same. For the present and