New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-04-10
CORPORATIONS.
UNITED STATES OF AMERICA,
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UNITED STATES OF AxERrca,l
State OF Louisiana, CITY OF New Ozieane
.hs ,aar Of our Lord one thousand eight hundred
and seventy before me Edward Barnett, notasy
duly COMMISSIONED and sworn and in p, essence q
the witnesses here natter named ana ne oefslgneus
AIRY arg hereunto sa5se1bed who declared
awaiting themselves of the laws OF the state OF Lou
ons in STATE they have and agreed
and By these presents do covenant. agree ana ono
themselves and those whom they represent. to es-
taliish and incorpo ate company for the oD1ects
and purposes, and under the obligations stirrAA-
,ors and regulations hereinafter set rorth, 70 WV
ARTICLEI.
The and title Of this corporation s ga Dc tie
shall be in the city of New Orleans 1t shall have
ard enjoy corporate pooers for me fna term %
PRESIDENT and ia his absence. ths Secretary ehan
be the proper officer upen whom all Citations shall
70 '''''1' ARTICLE IL
The objects and purposes of this company are de-
IT, os te o. m
the cities and towns OF louisiana; the purcnae;ng
| and gene rally whatever may be necessary for the
| accomplishment Of the primary objects herein
stated.
The capital stock of said company shall be three
| hundred thousand dollars ts3c0 LOO. TO be divided
| each transferable on the books OF said company.
| which capital stock may be increased to five hmm
dre6 thousand collars by vote OF s5ority Of the
| stockholders present at any annual meeting or
special messing called for thar purpose. And when
| ever one hundred thousand dollars to said capital
stock shall have been suDscribe1 In good faith, the
subscribers snail be convoked at some Office in this
city, for the purpose Of hectIng hna organization
| by the election OF q Board of Directors; and In
order to receive subscriptions to said capital stock.
the following named persons are to constitute sn
ex ocio Board Of Directors TO serve until the tinaA
! organization of this corporation. viz:
RGGRhos S IGN uRsaS
T. o. MAHAN.
No more than fifty per cent of the subscription 70
thau ter Per cent, at any one time And the board
a.ay at any regular meeting of the Board OF Direc
huadre0 thousand dollars to be used in payment for
the purchase OF patents and frar cbses for the
thousand doarz 70 be part Of said capital stock of
| three hundred thousand dollars.
ARTICLE ".
| So soon as the OF one hundred thonsanddoi-
lars ehall have been subscribed, stipulated the
preceding artlcle, the subscribers shall meet and
elect hoard OF Directors, composed of i've sub
ard shall have taken their places. And one
shall be a Director of this company. unless he hoas
| n his name at least fifty shares of its capital
stock. All voting for Directors shall be by ballot.
ARTICLE V.
An the corporate powers of this corporation Sc sB
be vested in and exercised by Board of Directors.
|
Directors shall consist Ave members Of the corpo
ration. TO De elected otter the first election above
| nentloned) on the first Monday of January OF each
and every year, at an annual meeting of the stock
holders. be hed that day, at such place in the
city of New Orleans Is the acting board may desie
nate. of which eecuon they sha give at least TWEEN
ty days notice previous thereto by advertisements in
one OF the daily newspapers published in this oity.
AID they shall appoint three Stockholders to preside
as INSPECTORS At spch election. The Board o. Di-
| lowing Monday and hold the same until their Sue
cessors ara elected apd installed Those persons re-
ma OFitu a. he rnr HYa6
declared elected. The failure from any cause 20
but the Directors at d officers then in place shaD
mold over until the election OF their Successors
The Board of Directors shall, ct thsr first meeting
| in every year elect President from among their
numb who shall mold his office until his successor
ings Of the corporation and ef the Board Of Dirss
tors. and in case of his absence, president pro
The President Shall sign all contracts and other
papers. The Board of Directors s. ell have power TO
sppoint Secretary ard Trea surer superintendsnts
age nts, clerks ana all other employees required hs
st pleasure The Foard Of Directors msy delegate
their powers to tho President subject to their
supervision: they shal liz she salaries of all officers
and employees OF the corporation ana they may alss
delegate such powers for the transaction OF the
binary business Of the Company. az trey may deem
expedite At; they shall make the necessary bylaws.
rules and regulations alter the same, and they shah
have fun power TO Go all other acts which maJ be
OF the corporation. The Board of Directors shall
hold their regular meetings on the first Monday CT
each month, and majority shall constitute 8
quorum. Special meetings OF the Board of Direc.
may be called by the President at the request oil
| three members OF the board, in writing even a.
his own insfanoe, shoud ne deem il expedient tor
the nGsrest OF the corporation. No director - any
other paving company shan bs q director OF this
Company.
| Zach ard every s:o.khoder shall be entitled to
one vote, either in person or by proxy to each and
every share he. she or they may respectively hold
ARTICLE VII
| Special meetings of TIE stockholders shan be
| called WheueveI yartles rs onethlFT of
| tbs capital stock of the pany shall request the
president in writing to that effect stating the
object Of the call Sad special meeting shall be coz
| vened by the president. by giving at least twenty
| in this ci y; and at which meetings a majority Of
the capital stock must be represented in person Or
special meeting, any number Of stockholders may
meet organize and adjourn from day to Gay for one
sboVe s,ased s6a be given to secure the
| of a maj ority OF the stockholders.
ARTICLE Will
| No stakeholder shall be held liable or resuons.bse
for and other acts of the company beyond
may sin be due ~ them to the mpsny And nc
nformality in organizing shall render tns charter
! null expose the stockholders to any liability b.
: yond the extent already indicated
. ARTICLE IL.
Books for the registry and transfer OF shares OF
> the capital stock shah be kept. in which az toe
transfers of stock shall be made and signed by tie
stocknolde, or his attorney
, ARTICLE X.
The device OF the corporate seal OF said company
shall be adopted By the Board Of Directors.
ARTICLE XII
. The Board of Directors shall declare dividends
semi annually out Of the earnings that may be N
hand time; but only if in their opinion. the
| profits made by said company should warrant the
same. Tho Board of Directors shalt cause to be-
kept full set of books containing the Proceedings
CT the Board of Directors and OF the stockholders,
4 the accounts nsactons and tie dtlon Of the
!. company generally; which books togstner vita
| the transfer book of stock, shall at al times be
. | open to the inspection of the stockholders. The
| directors snail prepare and submit TO the annual
, meeting OF the stocs holders report showing tbs
| operstoDs aud condition of the company for tina
| pToc6olng year
i ARTICLE XII
This act of Incorporation may be mod iied sicere<
| or amended, and the company dissolved at s gene
rai meeting CT the stockholders, convened fo- thai
! purpose alter not less than thirty days Draviou
4 notice given in daily newspaper printed il
4 English, in the city of New Orleans, and with TN
in writing, of tbs stockholders owning three
: ARTICLE XIII.
g At tbs Examination of this charter or at the dis
solution of this corporation, previous thereto il.
liquidation s all DO conducted by three stockhol0
ouly elected at the general meeting to be con
vened fer that purpose. The board of hquldator
shall proceed to wind up the sfairs of said cornpsn
by selling the rights privileges, cts and proper
thereof, paying the debts, ard distributing the sur
y ARTICLE XIV
g The iRcorporstors OF this Company ana their n
spoctive interests IL the same declared to be