The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-10-09
CHARTER.
STATE OF LOUISIANA.
PARISH AND CITY OF NEW ORLEANS.


DE IT KNOWN, THAT ON THIS FIFTl
ID day OF September, in the year of our Lor
one thousand eight hundred and seventv-four
and of the independence of the United States 0
America the ninety ninth, before me, Andrew
Hero, Dr., Notary Public LII and for the parish
and city OF New Orleans, State Of Louisians
duly commissioned and qualified and in the
presence Of the witnesses hereinafter named
and undersigned, personally came and appeared
the several persons whose names are hereto sub
scrlbed. being the Board of Directors Of the
PLANIERS' COTTON TIE ASSOCIATION, a
: duly organized corporate body Of this State,
domiclled 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
relfuI OF sald association by virtue of resolu-
ilon adopted at general meeting of the stock
holders thereof, convened st its office in this city
on the day and date hereof, which said appearers
declared IN theu said capacities that after due
papers, general meeting of the ste ckhode.s Of
said Planters Cotton Tie Association was con-
Itned and held at the Office Of said association
III this CITY on the day and date hereof, for the
| purpose OF making certain notifications addi-
tons, alterations and changes in and to the
original act OF lncOrooretion OF said as ISOLATION
passed before the undersigned notary on the
tWenty-iourth day Of February last passed, and
lna1 az sald general meeting. stockholders OF
sand ASSOCIATION, their duly authorized attor
heys, representing more than seven-eghts of The
capital stock OF SAID associat ON. unanimous1v
asson.ed AMI agreed that the aforesaid original
act OF Incorporation should be altered and
amended SO as to hereafter READ and be as fol-
lows, VIZ:
ARTICLE FIRST.
The name ami style of this corporation shall
De the Planters Cotton Tie Association, and its
place OF business and legal domicie shall be the
c!y 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 declared to be the manu-
lacti!re or purchase and sale of iron cotton ties
for baing cotton and other merchandise as well |
as the manufacture and sale of such other ar
t!cies as 1t may deem proper. The President or |
Secretary OF the Association shall be the proper
cess may be served.
ARTICLE THIRD.
The capital stock OF this Association is berebv
fixed at eight hundred thousand dollars. divided
INTO sixteen thousand shares of fifty dollars each
lo I. per centum OF which shall be paid in cash
within tnlr.y days the reafter making eighty per
;entum IN all, or forty dollars per share And it
shall be the duty Of the Board of Directors. in
,ase these two assessments shall have been
promptly paid to declare the stock thus SUBJ !
'crlbed and paid for fully paid up, and cause the
same to Issue to each subscriber as he nav in !
accordance with the terms Of this Article. !
promptly complete his payments thereon. II
lSSne0
lnder the original Act of Incorporation, shall be
urled IN and delivered to the association and =
heu thereof, each stakeholder shall have and
eceiVe new certificate for the same number OF 7
mares that he has heretofore subscribed and
! I'd for. All other stock provided for in said
ri5lnai Acs OF Incorporation OF this associa-
on, is hereby declared to be null and void.
NO certificate OF stock shall. be issued until the
lrectors to be fully paid up, and no transfer of
IS than one share Of the capital stock shall be
ade on the books of the association,
ARTICLE FOURTH. n
ms Corporation shall have and enjov success. ~
on by Its corporate name for the period of r;
'enty-hve years from the date Of the original ~
larter, VIZ February oath, 1874; shall contract n,
Q and be sued; shall have power and authority D.
make and use q corporate seal, having for it's
wee e, scroll containing the fac smile Of Cot In
Bale, and for an inscription the name of the -
ISOLATION. 1t shall hold mortgage, purchase
IL ana otherwise convey under its corporate y
me, property both real and personal, moyeable Ae
immoveable; shall name and appoint such RI
nager5, directors and officers as it's interests &C.
L convenience may require. 1t shall make and o'
aDlsh such bylaws rules and regulations for |
proper management of its busine IS and az
= as may be n, necessary and proper, and shall
'sess seneraiy an such powers and privileges ira
are gwen by law to corporations.
ARTICLE FIFTH. ,
ne powers OF this association shall be vested
Board OF Directors, consisting Of five stock
aers, three OF whoSa shall form quorum for j.,
TRANSACTION OF business, who shall be elected a;!ss
ualy on the first Monday in March, in each slgl
/, by the stockholders, At such place in the 1o':
OF New Orleans as may be designated. and
4 ten days advertisement OF the notice of T
clec!lon IN at least two newspapers pub lowj
ed In the city OF New Orleans. Said directors
Old Office for one year, or until their succes 4 n
as director. provided +bat 81 Iaa oe en- Divi
'es Of stock OF the association are owned hv All {
AZ eieetlons OF directors shall be by ballot, tific
hree stockholders to be appointed for the AAo1
'ose by the Board Of Directors, and all those
ons receiving plurality of votes shall be Hug
lu si GUY elected; Every bona fde owner s. D
l-ch shaii DC entitled to one vote for every A. J.
owned by him, her or them provided that J. A.
ne Shall be entitled to vote on any share or w. I
es OF stock that have not stood in his her or L Bl
name on the books OF the association for at Sam
oAty oays prior TO any such election @. Fl
len may vote "nen the authority is in writing John
edlately upon the adoption of this amended Geo.
~ .nS ooaru OF directors appointed by the j. E.
La Lnaaar shali cease to exist, and the Loyt
noioers assembled shall at once proceed to Fred,
q new Board of Directors to serve until tba | n W
Monday in March. 1875. Louis
ARTICLE sIXTH. L. S.
Board of Directors shall elect annualv Ne,
aeh other Aesss sns ' ss sha
cessary to carry on the operation and object
s association, for such time as thew NAV
e. They shall fix the salaries of ELL officers.
10 amount of security required from each
BOARD shall have power to fill vacancies T
d by death, resignation. absence or ine
ICY Of its members Va AZ In Q.
.prrCr ~ e,,,,- ter, tn
anAACLE eENEN1H. Prem
nents o1 the calls or assessments upon the 1874,
as PROVIDED Tor III Article Three shall be GUS
III ten days from the first publication or On Fir
tation of the notice of sucb call or 60 On Ma
and stockholders who arc 6ai;rora. On Riv
"a s,1hiecf 70 no., a;, o iine mus speclhed, Tota
u on the assessment; and if they allow IN
hent 10 remain unpaid for thirty days, the Net Ea
vi directors may declare the stock with Loss<
eVlous payments and accrued dividends On Fir
q, forfeited to the association On MAJ
ARTICLE EIGHTH. Tn NV
tockholder shall ever be liable for the teres,
~ ~ !auits OF tne ASSOCIATION or corpora Reinsu
any i1Itner sum than the unpaid balance and
the association on the shares owned bv Reserv,
or shau any mere informality in organiza