The weekly Iberian. (New Iberia, La.) 1894-1946, 1921-11-05
CHARTER OF
Progress Mercantile Co., Inc.
STATE OF LOUISIANA,
PARISH OF IBERIA,
TOWN OF JEANERETTE.

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 lncorpofa-
tors being Jeanerette, Louisiana, ana
all being of full age of majority,
who severally declare that, awaiting
themselves to the Laws of the State
of Louisiana relative to the organlz-
ing Of Corporations of limited iablll-
ty. and particularly the provisions OF
Act No. 267 of the General Assem-
bly of the State of Louisiana OF IVA,
thew have covenanted and do hereby
covenant, contract, bind and obllgate
themselves and all such persons as
NAV hereafter become associated
with them herein, to organize, form
and constitute corporation or pooy
polite in law, under the style and
title, for the objects and purposes
and under the conditions and stipu-
lations following, to-wlt:
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
corporate seal. and the same to alter
and break at pleasure; TO hold, SELL
purchase, lease and convey under its
corporate name, property either reai
or personal, corporeal or lncorporeai'
to elect and appoint such oi1lcers'
directors, agents, bookkeepers, clerks
and other representatives ana en-
ployees as said corporation may re-
uuire; to fix the salaries thereof. ana
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 III.
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 inc
Vice President, or in the absence OF
both. upon the Secretary Of this cor
ARTICLE III.
The objects and purposes Tor whlcn
this corporation is organized ana inc
nature of the business to be carried
on by it is declared to be any one {, or
all Of the following, to-wlt:- 10
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
RI Inv. own, receive, hold, lease, or
sell: pledge, mortgage or hypothecate;
real. personal or mixed property, ana
tn anv and all things necessary Tor
the nroper conduct and furtherance
az the business of the firm.
ARTICLE Nv.
The CAPITAL Stock Of this Corpora
tion is hereby fixed at Three Thous-
and $4,000 .OO) Dollars, divided into
three thousand $4,000 shares OF One
lS1 OO) Dollar each. All stock issued
to be paid for in cash or its equlvai-
ont in property or labor done when
stock is issued.
This Corporation shall be autnoriZ-
ed to begin business as soon as nia,
ioritv of the shares Of stock snail
have been subscribed for and sold.
ARTICLE v.
All the corporate powers OF TINS
corporation shall be vested IN ana
exercised by Board Of Directors.
composed Of seven stockholders, hve
of whom shall constitute quorum
for the transaction of business, the
said Board shall be elected each year
~ an election held for that purpose
on the First Thursday Of January OF
each wear, of which said election nj
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 eiec-
tion. Each stakeholder shall be entitl-
ed to as many votes as he shall nave
shares of stock, which may be cast
in person or by proxy, and MAORI,
ty Of all votes cast shall elect, ana
case Of q 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 d.
rectors on the date above speclhed
shall not have the effect of dissolv-
ing this corporation but the incumb-
ent directors or officers shall, in such
event. hold Office until their success
sors shall be elected and qualified
under 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
until an election is held for the pur-
pose of electing Board of Direc- |
tors and officers as provided in Arti- |
Gle Five hereof, the following stock |
holders shall constitute the first |