The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-10-16

STATE OF LOUISIANA,
PARISH AND CITY OF NEW ORLEANS.


STATE OF LOUISIANA,
PARISH AND CITY OF NEW ORLEANS.
DE IT KNOWN, THAT T. ON THIS q ~, F1FT II,
one thousand eight hundred and seventy -four
and OF the Independence OF the United states
America the ninety ninth, before me. Andrew
Hero, Jr, Notary Pubic IN ana ior me Pa.,s.
duly commissioned and qualified. and in the
presence Of the witnesses hereinafter named
and undersigned, personally came and appeared
ecribed being the Board Of Directors OF the
PLANTERS COTTON TIE ASSOCIATION, o
duly organized corporate body OF this State.
domiciled in this city, created by an act passed
before the undersigned notary on the twenty
fourth day of February last passed, and herein
acting in their said capacities and for and on
behalf Of said assoca ton by virtue Of a res0lu-
ton adopted at genera! meeting OF the stock
holders thereof, convened at it's office in this city
on the day and date hereof, which said appearers
declared in their said capacities, that after due
aud legal notices and publications IN the news.
papers, a general meeting Of the st ,ckholde-s OF
vened and held at the Office OF said association
in this cityon the day and date hereof, for the
purpose OF making certain notifications, addl-
lions, alterations and changes in and to the
original act Of ncorporetion of said association
passed before the undersigned notary on the
twenty-fourth day Of February last passed, ind
that at said general meeting. stockholders OF
said association, their duly authorized sattor-
neys, representing more than seven-eights of thu
capital stock OF said association unanimously
assented and agreed that the aforesaid original
act Of incorporation should be altered and
amended so as to hereafter reaa and be ,as fol-
lows, viz: -
The name and style of this corpOrS29on shall
be the Planters Cotton Tie Association, and its
place of business and legal domicile shall &e the
city of New Orleans, in the parish Of Orleans and
the State OF Louisiana.
ARTICLE SECOND.
The objects and purposes for which this corpo-
ration is established are delared to beVhe manu-.
facture or purchase and sale of iron cotton ties
for baling cotton and other merchandise - well
~ the manufacture and sale Of such other ar
ticles as it may deem proper. The President or
Secretary Of the Association shall be the proper
officer upon whom citations and other legal pro-
cess may be served. -
ARTICLE THIRD.
The capital stock Of this Associations hereby
fixed at eight hundred thousand dollars, divided
into sixteen thousand shares OF fifty dollars EACH
forty per centum Of which shall be paid in cash
ut time Of subscription, and forty per centum
within thirty days the reafter, making eighty per
centum in al, or forty dollars per share. And it
shall be the duty OF the Board OF Directors, in
case these two assessments shall have been
promptly paid, to declare the stock thus SUBJ
scribed and paid for fully paid up, and cause the
same TO issue to each subscriber as he may, in
accordance with the terms Of this Article,
promptly complete his payments thereon.
All outstanding certificates for stock issued |
under the original Act OF Incorporation, shall be
turned in and delivered to the association, and,
in lieu thereof, each stakeholder shall have and
receive new certificate for the same number Of
shares that he has heretofore subscribed and
paid for All other stock provided for in said
original Act of Incorporation of this associa-
ton, is hereby declaredtr be null! and void.
same shall have beeL I4clared by the Board Of
Directors to be ullAtraid up, and no transfer OF
less than one share Of the capital stock shall be
made on the books of the association.
ARTICLE FOURTH.
This Corporation shall have and enjoy success
sion by its cor. rate name for the period of
twenty-five years from the date Of the original
Charter, viz: February Oath, 1874; shall contract
sue and be sued; shall have power and authority
to make and use corporate seal, having for its
device scroll containing tAe fac simile of Cot.
ton Bale, and for an inscription the name OF the
Association: 1t shall hold, mortgage, purchase,
name, property both real and personal, movable
and immoveable; shall name and appoint such
managers, directors and officers as its interests
And convenience may require. 1t shall make and
establish such bylaws, rules and regulations for
the proper management Of its business and sf-
fairs as may be necessary and proper, and shall
possess generally all such powers and privileges
- are given by law to corporations.
ARTICLE FIFTH.
in Board OF Directors, consisting OF five stock
holders, three Of whom shall form q quorum for
the transactio..H business, who shall be elected
annually on the first Monday in March, in each
year, by the stockholders, at such place in the
city Of New Orleans as may be designated, and
after ten days advertisement OF the notice OF
such election in at least two newspapers pub
lished in the city of New Orleans. Said directors
sors are elected. Any stakeholder shall be ELI
gible as director, provided that at least ten
shares OF stock OF the association are owned by
him. All elections Of directors shall be by ballot
Of three stockholders to be appointed for the
purpose by the Board of Directors, and all those
persons receiving plurality of votes shall be
considered duly elected: Every bona fide owner
share owned by him, her or them provided that :
no one shall be entitled to vote any share or {
shares OF stock that have not stood in his, her or
their name on the books of the association for at
Proxies may vote when the authority is in writing.
Immediately upon the adoption of this amended
Charter the Board of Directors appointed by the
original Charter shall cease to exist, and the
assembled shall at once proceed to
elect new Board Of Directors to serve until the
first Monday in March. 1875. I
ARTICLE SIXTH !
The Board of Directors shall elect annually, !
and at their first regular meeting. a president
and such other officers, clerks or agents as shall
be necessary to carry on the operation and object
Of this association, for such time as they may
choose. They shall fix the salaries of all officers,
md the amount OF security required from each. I
The board shall have power to fill vacancies
caused by DEATH resignation, absence or in
BOlvency OF its members.
ARTICLE SEVENTH.
Payments Of the calls or assessments upon the
stock, as provided for in Article Three. shall be
made in ten days from the first publication or
presentation Of the notice of such call or assess
ment, and stockholders who are delinquents IN II
heir payments, beyond the time thus specified, :
shall be subject to pay eight per cent. per annum
interest OH the assessment; and il they allow an
to remain unpaid for thirty days, the
Board Of Directors may declare the stock with