New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-04-12
CORPORATIONS.
CHAKTEK e. 1...............C HAKTEK
UNITED STATES OF AMERioA.

CHAETEK .....'CHAkTEK
UNITED STATES OF AMERICA,
State OF Louisiana, City OF New Orieans-
Be it known. that this eighth day of pril IN
the year of our Lord ore thousand eight hundred
an seventy. before me Edward Barnett. 8 notary
public in and for this city and parish OF Orleans,
duly commissioned and sworn. and in ,esence OF
person ally came aud appeared. the parties whose
names hereunto subscribed, who declared tuas.
isana In relation to tie organization of corpora
tons in this state they have covenanted and agreed,
themselves and those whom they represent. to es-
tablish and incorpo ate company for the objects
and purposes, and under the obligations, stio ula
tous and reg alatons hereinafter set forth, to wit:
ARTICLE
The name and title of this corporation shall be tee
"Crescenr City Paving COMPANY, and its domicil
shall be in the city of New Orleans 1t shal have
ard enjoy corporate powers for the full term OF
twenty five (20 years from the date hereof; the
President, and in ms absence. the Secretary, shaa
be the proper officer upon whom au citations snall
ARTICLE II.
The objects snd purposes of this company are de-
cllred to be the preparing and laying OF wooden
and other pavements, sidewalks and ancuettes ID
the cities and towns OF Louisiana; the purchasing
and generally 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 ts3ot0O. to be divided
into three bousand shares of hundred dollars
each. transferable Oh the books of said company,
which capital stock may be increased TO five hun
dred thousand dollars by vote OF majority OF he
stockholders present at any annual meeting
special meeting called for that purpose. Apd whep-
ever one hundred thousand dollars to satf capital
stock sh ali have been subscriber in good faith, the
subscr bers snail be convokei at some office in this
city. for the purpose of ecting na organization
by the election of Board of Directors; and 10
order 70 receive subscriptions to said capital stock
a
organization OF this corporation. viz:
FsANG fI BqMAs JoHT h1gCKWoop
+. O. MAHAN.
No than fifty per cent of the subscription 10
the capital stock shall be called in. and no more
than ten per cent. at any one time. And the board
may at any regular meeting of the Board Of Direo
tors. issue preferred stockTto the amour. OF one
hundred thousand dollars 10 be used IN payment for
the purchas- OF patents and fran chses for the
elusive qss Of the ;, oompaoy; sad one hundred
thousand dollars 10 be part OF said capital stock et
three hundred thousand dollars.
ARTICLE "
So soon as the gum of one hundred thousand dol
lars snail have been subscribed, stipulated IN the
preceding article, the subscribers shall meet and
elect s Board OF Directors composed of five SUR
scrbers until their successors are elected,
and shall have taken their places. And no one
snail be- Director OF this company, unless he holos
~ MS own psms al least nifty shares of its capital
stock AL voting for Directors shall be by ballot.
ARTICLE V.
All the corpora powers Of this corporation Fall
be vested in and exercised by Board of Directors
and such officers they may create. The Bosre of
Directors shall consist tive Nom of the oorpo-
ration. TO he elected tafer the first election above
rlentioned) on the first Monday OF January Of each
holders 10 be held on that day at such pacs in the
city of New Oreap3 the acting board may deslg-
nate OF which eeotion they shall give at least twen-
ty days notice previous thereto By ADVERTISEMENT in
Az thew aha appoint three to nresds
inspe ctors At such election. The Board OF d.
Tectors elected shall take their seats the follow
lowing Monday, ana hold the same until their sue
plpgtpd and installed ThOSa
ceiviDg majority Of votes shall be considered and
declared elected: The taiiu . from any eanse TO
out the Directors a. officers then in place shall
mold over until the election Of their successors.
N every year, elect a President from among their
number who shall hold his office until his successor
shall be elected. He shall presi 1e at all the
i1gs OF the corporation and Of the Board of Direc-
tors. and in case of his absence. president pro
TEN. may be appointed By the Board of Directors.
The President snail sign all contracts and other
papera. The Board OF Directors sDal have power to
appoint Secretary and Treasure superintendent.
agents, clerks and al other employees required BY
at pleasure. The BOARD of Directors mey delegate
their powers to the PRESIDENT. subject to their
and employees of the corporation and they may alss
delegate such powers Tor the transaction Of the or
expedieBt; they shall mako the necessary bylaws,
rules and regulations, alter the and they shall
necessary tor carrying out the o5Iects and purposes
Of the corporation. Tho Soard of Directors shall
nOd their regular meetings on the trst Monday OF
each month, and Inajority shall constitute
quorum Special meetings of the Board of Direo-
three members OF the board, IN writing, or t.t
his OWE iGs auce should he deem il expedient for
the n1eIeS' o. t4e o9fpot at0n. NO Director ol any
other paving Company shan be director OF this
ARTICLE VI
Each and every stoctholder shall be entitled
vote, other in per-on or by proxy, to each and
every share ne, she or they may respectively hold
ARTICLE VII.
Special meetings of the stockholders shall 10
called whenever parties Re presen ing onethird OF
the capital stock Of the company shall request the
president, in writing to that effect etatlpe the
object of tie call. Said special meeting shall be con-
yened by the PRESIDENT. by giving least twenty
days notice in one OF the daily newspapers published
in this ely; and at which meet nes a majority OF
the capital stock must &c represented in person
by proxy. At the time OF either annual Or
special meeting. any number of stockholders may
meet, organize and ADJOURN from day to day for
week. when. no quorum being present, notices as
above stated shan be given TO secure the attendance
OF 6 majority OF the stockholders.
ARTICLE VIII
No stakeholder shall be held liable or responsible
for contracts and other acts of the company beyond
much OF the hft per cent the capital stock aa
may still be due by them to the company. And DO
Informaity IL organizing shalt render this charter
null or expose the stockholders to any liability te
yond the extent already Indicated.
ARTICLE IN.
Books for tbs registry and transfer of shares Of
the cs pital stock shall be kept. in which ali the
stockhoder or his attorney.
ARTICLE Y
Tie device Of the corporate seal of said concpany
shall be adopted by the Board OF Directors.
ARTICLE XII
Tne BOARD Of Directors shall declare dividends
semi annually out of the earnings that may be on
han0 at The me; but only II, in their opinion the
prohts MADE by SAID company should warrant the
same. The Board OF Directors shalt cause to be-
kept full set Of books containing the proceedings
the accounts transactions and tie condition Of the
company generally which books, togstaer win
the transfer book Of stock shall at all times te
open 70 the inspection of the stockholders TIE
directors shall prepare and submit to the annual
meeting of the stoc, holders report showing tho
operators aud condition of the company for tne
preceding year.
ARTICLE XII.
This set OF Incorporation may be modified altered
or amended, and the company dissolved at 6 gene
raj meeting of the stockholders, convened for tbet
purpose, after not less than thirty days previous
notice gwen in & daily newspaper printed IN
Fns Ish, in the city Of New Orleans and with tte
tourths OF the capital stock of the company.
ARTICLE XIII.
Al the termination of this charter or at the ois-
solution OF TINS corporation, previous thereto, its
liquidation shall DO conducted by three stockholo-
vened Tor that purpose. The board of liquid stors
email proceed to wind up the fairs of said compans
by selling the rights privileges and property
thereof paying the debts aud distributing the suy-
plus between the stockholders, pro rata
ARTICLE XIV.
the ipcorpor&tors of this Company and their re-
spectlve interests IN the same are declared be as