The weekly Iberian., 1922-02-25
CHARTER OF
Progress Mercantile Co., Inc.
STATE OF LOUISIANA,
PARISH OF IBERIA,
TOWN OF JEANERETTE.

Be it known that on this 21st, day
Of January, 1922, before me, A. 3.
McGowen, a Notary Public. duly COM
missioned and qualified in and for the
Parish of Iberia, State of louisiana
and in the presenceof the witnesses
hereinafter named and undersigned,
personally came and appeared, Frank
II. Wallace, Arthur Robinson, H. W.
Coleman, Cleveland Brown and Gil
bert Leblanc, all residents OF the
Parish of iberia, State OF Louisiana,
the post-office address of the above
named incorporators being Jeaner-
cite, Louisiana, and all being of the
full age of majority, who severally
declare that, availing themselves OF
the laws of the State of Louisiana,
relative to the organizing OF Corp
orations of limited liability, and par
ticularly the provisions of Act 267
of the General Assembly of the State
of Louisiana of 1914, they have COW
enanted and do hereby covenant, con-
tract, bind and obligate themselves
and all such persons as may mere
after become associated with them
herein, to organize, form and con-
stitute a corporation or body polltlc
in law, under the style and title, for
the objects and purposes and under
the conditions and stipulations fol-
lowing, to-wit:-
ARTICLE I.
The name and title of this corpo-
ration shall be the Progress Mer-
camille Company, Inc, and under its
said corporate name it shall have
power and authority to exist and have
succession for period of nlnety-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 incorporeal;
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 regulation 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 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 w.
The Capital Stock Of this Corpora
tion is hereby fixed at Five Thous-
and ($5,000.00) Dollars, divided into
five thousand $4,000 shares of One
($1.00) 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
| jOrity 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 five stockholders, thres
Of whom shall continue 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 o1
each year, of which said election fif.
teen days notice shall be given prio,
thereto by written notices sent by
mail to each Of the stockholders al
least fifteen days prior to said cleo
tion. Each stockholder 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 a majori-
| ty of all votes cast shall elect, anc
in case Of tie vote in any said elec.
tions, or in any other business mat
ter or controversy arising at any
meeting or meeting 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.
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 BoarG
Of Directors.
ARTICLE vi.
| The officers Of this Corporation
shall consist Of a President, Vice
President and Secretary and Treas
urer. The Office of the Secretary ant
Treasurer may be held by one ano
the same person, as decided upon by
the Board of Directors. The said Of
L GnAr,~ clu11 L. II L. L.