The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-01-24
CHARTER.
STATE OF LOUISIANA.
PARISH OF ORLEANS-CITY OF NEW Or
LEANS.

eight. and Of the independence OF the Unite!
Of The 9 Rto nandTs rs ana eoa1
pnbitc In and for the parish OF Orleans, State o
Louisiana. duly commissioned and qualified
nam n s asd
appeared the parties whose names are here
unto subscribed, who declared INT avai liz,
tss Il the 81 f State y 0eusana rea
they have covenanted. agreed and stipu
and stipulate to form themselves into bodl
corporate for the objects and purposes ane
under the stipulations. obligations and reguia.
' ARTICLE II.
be ii THE DEMOORAT PUBLlsHING COM,
PANY." IL shall have Its domcil and principal
office in the city Of New Orleans. and shall have
the full end and term OF twenty five years. un;
less sooner dissolved. as hereinafter provided
III shall have and use a Corporate seal. with
such device and inscription thereon as the
Board OF Managers may decide upon,
The president OF the corporation shall Dc the
legal process shall be served.
ARTICLE II.
The objects and purposes OF this corporation
are to print and publish under the co cooperative
system. newspaper. and TO carry on q general
connected Herewith. and through the conse-
ouent diffusion OF knowledge and general In
formation to promo,e the commercial. indus.
u '''' s'" ARTICLE III.
The capital stock Of this corporation ls here
by hxed at one, hundred Thousand dollars. d.
dred dollars each. Of which four hundred
and, fifty shares shall be- considered AZ
bnre sSd Hbs
q. Janfn, late proprietors of the New Orleans
DEMOCRAT. IN confederation Of the sale and
Il ssd ype
good will. fixtures and everything belonginR
and appertaining to their general news
Without anu exception or Reservation. n and
acter or nature yhatsoevsr The remain;
be- taken in equal proportions BY the other In
corporators. to be paid by applying to that pur-
pose the profits realized each year by this cor
dividends to which the above paid up stock
shall be and is entitled. Should any existing
liabilities Of the present firm Of Geo. w. Dupre
Transferred, or out Of the earnings Of this cor
poration. then corresponding amount OF their
said paid-up. capital stock shall become the
No stock of this corporation shall ever be
cancelled. but shall remain at the full
amount OF one thousand shares OF one hun
ton shall be opened to subscription by fndi-
yldual stockholders under such ru es and regu-
ARTICLE Nv.
No shares Of the capital stock. Of this com
paDy shall be sold or transferred BY any holder
thereof unless full paid. and no stock can be
sold without ha,yng been first offered to the
the corporation should decline to purchase then
any stockholder shall have the refusal Of the
The stock shall be transferred only on The books
OF the corporation.
ARTICLE v.
The affairs OF this corporation shall be man.
aged, and all the corporate powers thereof ex-
seven members any i've II w moan
business. Three Of said members shall be
remainder shall be chosen by the holders Of the
unpaid stock: two thereof to be selected by the
newsroom, one from the editorial room, and
The first Board Of Managers shall be COM
posed OF the following named persons: George
Y " Dupre: Henry J: Hearsey. John Augustfn.
D. Harris and stephen d. Pool. Jr.. who shall
hold office until their successors shall have been
sse st Monday o. sepember o, each
year, ten days previous notice thereof being
given in one OF the newspapers Of this city. an
election ior nanagers az above apDortioned.
the company. Each stockholder shall be en-
titled. either In person or By proxy placed in
the hands OF ANOTHER stockholder. TO one vote
on each share OF the co pital stock held BY him.
SAID Board OF Managers shall. at their first
meeting. elect one Of tbsir number as president
q the the company end thy shall have the power
for the government of the affairs Of this COM
pa3v as they may deem proper, and to alter
aha amend the same whenever they may con-
The Board OF Managers shall furthermore
have the power TO dismiss from the asso-
" i1o Ir any memDer against whom charges
Of duty derogatory to the principle of co-opera-
ton OF the association. when may have been
preferred oy the head OF department or any
memDer OF the association. and sustained to the
satisfaction Of two-thirds OF the whole Board OF
Managers, after ballot In due form taken. The
s 2 nsld by such dismissed member shall be
disposed OF In the same manner as Is herein
provided for the transfer OF all stock OF the
ARTICLE vI.
NO stockholder OF this com pany shall ever be
Responsible beyond the amount OF any unpaid
BALANCE due to the company on the shares
owned by him. for any debt. fault. contract or
II .h n shall
1erinR this charter null. or of exposing stock
holder to any liability beyond the amount OF the
unpaid balance due upon his stock.
ARTICLE VII.
This act OF incorporation may be modified
ous VI uISSUlV6u Win the assent
1f three fourths OF the whole stock. at a general
meeting OF the stockholders, especially con.
vened Tor that purpose. after ten days public
notice published in ono of the papers OF this city
ARTICLE VIII.
=, At the termination of the present charter. or
me dissolution OF this corporation its affairs
shall be liQuidated.. Its debts paid and any AZ.
sets remaining divided among the stockholders
n proportion to the amount of dup stock
held by each, The LIQUIDATION to be made by
:wo commissioners to be appointed for that
purpose by the Board of Managers, Ali neees
,ary powers shall be conferred upon them. and
Ineir compensation. as well as the period al
owed Tor liquidation. shall be fixed in such
manner man az the stockholders may decide In gem
mus done and passed In my Office at New Or
sans, .n9 gay month and year first above writ
en-, In the presence OF Henry III, Baker and
y h,s Kozler competent witnesses residing In
bearers and me. said notary. after reading Of
Original signed.
GEORGE W. DUPRE
Per pro ALBERT q JANTN