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

PARISH AND CITY OF NEW ORLEANS.
DE 1T KNOWN, THAT ON THIS FIFTH
ID day of September, in the year of our Lord
one thousand eight hundred and seventy-four,
and of the independence Of the United States Of
America the ninety ninth, before me, Andrew
Hero, Jr., Notary Public In and for the parish
and city Of New Orleans, State of Louisiana,
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 SUBJ
scribed: being the Board OF Directors OF the
PLANTERS COTTON TIE ASSOCIATION, a
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 association by virtue of a resou-
ton adopted at a general meeting Of the stock
holders thereof convened at its Office in this city
on the day and date hereof. which said appearers
declared Ill their said capacities, that after due
! and legal notices and publications in the news
pape1s, general meeting OF the stockloldo OF
said Planters Cotton Tie Association was con-
VI ned and held at the Office Of said association
in this city Oh the day and date hereof, for the
purpose of making certain notifications, addi-
tons, alterations and changes III and to the
Original act Of incorporation OF said as ISOLATION
passed before the undersigned notary on the
| twenty-fourth day Of February last passed, and
that at said general meeting, stockholders of
said association. or their duly authorized attor-
| neys representing more than seven-eights of The
| 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:
ARTICLE FIRST.
The name and style of this corporation shall
be the Planters Cotton Tie Association, and it's
place of business and legal domicile shall be 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 be the manu-
facture or purchase and sale of iron cotton ties
for baling cotton and other merchandise, as well
as the manufacture and sale of such other ar
ticles 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 Association is hereby
fixed at eight hundred thousand dollars, divided
into sixteen thousand shares OF fifty dollars EACH
forty per centu1n of which shall be paid in cash
at time Of subscription, and forty per centum
within thirty days hereafter, making eighty per
| centum in all 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 tho 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.
ALI outstanding certificates for stock issued
under the erig inal 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
ps id for. All other stock provided for in said
original Act Of Incorporation of this assoca-
ton, is hereby declared to be null and void
No certificate of stock Shall he issued until the
same shall have been declared by the Board of
Directors to be fully paid 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 corporate 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 q corporate seal, having for its
device scroll containing the fac simile Of Cot
ton Bale, and for an inscription the name Of the
Association. 1t shall hold, mortgage, purchase,
sell, and otherwise convey under its corporate
name property both real and personal movable
and iamoveable; shall name and appoint such
directors and officers as its interests
and conE enence may require. 1t shall make and |
establish such bylaws, rules and regulations for
the proper management of its business and az |
fairs as may be necessary and proper, and shall |
possess generally all such powers and privileges |
as are given by law to corporations.
ARTICLE FIFTH.
ASSOCIATION Va tod
N Roard of D,rectnrs cons;Stinr "f ~, ".a
holders three Of wEns. shajI for,9 % mou IN
the transa tito, Of hns;ness wbn sha,i he ann.od
annually on The first Mnn1a~ in Morc IL aaeI
year. by the s.ockholders a; snch Mac IN 40
,ity of New Orleans "a NAV be das;pnatod srS
,ftar tan J.y., aJ,art;sao,nt - ~ Az
such election in at least two newspaner, nuh
ished in the city Of New Orleans Said directors
% hold Office for one year. or until their success
ors are elected Any stakeholder shall be elli-
,ible as a director, provided that at least ten
hares Of stock Of the association are owned by
lin. All elections Of directors shall be by ballot.
nd held under the supervision of committee
f three stockholders to be appointed for the
purpose by the Board Of Directors, and all those
ersons receiving plurality of votes shall be ]
duly elected. Every bona fde owner s
stick shall be entitled to one vote for every
mare owned by nun, her or them, provided that .
= oile seall 10 entltieo 10 vote on any share Or
ales VI STOCK that nave not stood IN his, her or
ot nae VI .lie ooohs oI tne association tor at
'ass Shy uats prior 70 any such election.
IoAeS may sote "iel inc authority Is IN writing.
hiieuiaiey upon lIie auopuon OF THIS amended !