The herald. [volume] (New Orleans, La.) 1905-1953, 1911-09-21


and above seven % per cent upon the pre-
ferred stock shall be paid by said company,
such excess shall be applied to the common
an equivalent Of seven ca per cent divi-
dend, after which point all dividends for
tnat year In excess Of seven On per cent
upon Doth preferred and common stock shall
be paid equally upon both common and pre- |
ferred stock.
In case of liquidation-either voluntary
or inyoluntary-of the company, the assets
ana ayails OF the company shall be used |
hrst TO pay the par value of the preferred |
stock and all arrears of dividends thereon
In full before any distribution shall be
made in favor of the common stock.
Said stock, both common and preferred,
shall be paid for In installments of such
amounts and at such times as the board
OF directors may determine, but any part
or parcel OF said stock may be issued by
said board OF directors at not less than
par, In payment Of labor done or land or
property actually received by said corpora
This corporation shall commence business
and be going concern as soon as One
Hundred Twenty-Five Thousand (s125, OOOI
Dollars OF Its capital stock shall have been
subscribed for, and this charter signed and
executed by the incorporators.
ARTICLE ".
All the corporate powers Of this corpora
| tion shall be vested In and exercised by
| board of five 90 directors to be composed
of stockholders, three of whom shall con
| stitute a quorum for transacting all bust
! ness. The board Of directors shall be vest.
| ed with full power and authority to make
all contracts, purchases and sales, and adopt
| all bylaws, rules and regulations for the
| government Of the business and affairs of
| the company, and alter, anend and change
the same at pleasure; appoint, hire and dis
charge all Officers, agents and employees, fix
| all salaries, and generally TO do and per-
form all things necessary In the transaction
OF the business and affairs of the company.
Any vacancy occurring in said board shall
be filled by the remaining directors In the
manner provided for in the bylaws.
The first board of directors of this cor
poration shall consist of James A Clinton,
A. Sherman Hill, John s. Perry, Allen S.
Perry and George III. Penn, with the said
James A. Clinton as president, A. Sherman
Hill as vice president, and John s. Perry as
secretary and treasurer, who shall hold their
offices until the first Monday In December
1912, or until their successors are duly
On the first Monday in December, 1912
and annually thereafter, an election for di
rectOrs shall be held at the office Of the
company, under the supervision of three
commissioners to be appointed by the presi
dent, and the directors then elected shall
take their seats Immediately and shall hold
office until their successors are duly elect
ed and qualified Each board shall elect its
own officers, which shall consist of a presi
dent, secretary and treasurer. Two OF
said offices may be held by the same per
son.
All corporate elections shall be by ballot
and majority of the votes cast shall elect
and at all stockholders meetings held fol-
any purpose, each share of stock shall b.
entitled to one vote, either In person or by
proxy, by the person in whose name sam'
is registered on the books Of the company
and the board OF directors may close thu
stock transfer books for a period not ex
ceeding thirty days before any meeting.
Written notice Of stockholders meeting
shall be given to each stakeholder by tn
secretary at least ten (1O) days prior t.
elections, by mailing same, postage pre-
paid, to his last known postoffice address.
The board of directors shall have powe
to establish stock transfer agencies I'm
der reasonable rules and regulations, in tn
, cities of New Orleans, la. and Chicago
Ill, and at such other places as they. ma,
corporation shall require.
ARTICLE v.
This act Of Incorporation may be changed
altered or modified, or this corporation dis
solved. with the assent of there-fourth
general e S meeting Of the stoeEhoder
convened for that purpose after thirty l3O
days prior notice Of such meeting shall hav
been given by publication in one OF tn
New Orleans, by five (5l publications dur
ing said period, and such changes as ma
be made in reference to the capital stoc
shall be made in accordance with the the
existing laws on the subject.
ARTICLE vi.
Whenever this corporation Is dissolved
either by limitation Of its charter or fror
any cause, Its affairs shall be liquidated b
three 90 commissioners to be appolnte
from among the stockholders at meetin
| Of the stockholders convened for that pul
y pose after thirty $500 days prior motto
e shall have been given by the secretary {
e each stakeholder. Said commissioners shal
d remain in office until the affairs OF sal
/ corporation shall have been fully liquidated
n In case Of the death of either commission
n er, the survivors shall continue to act.
e ARTICLE VII.
No stakeholder of this corporation shal
IS ever be held liable or responsible for Tn
" contracts or faults thereof In any furthe
II sum than the unpaid balance due to IN
IS corporation on the shares owned by MN
,e nor shall any mere informality In organizs
D. tion have the effect of rendering this char
ter null, nor of exposing stockholder I
any liability beyond the amount OF III
stock. 49,
The subscribers hereto have each write
opposite their names the number OF share
N subscribed for, so that this act may ais
L. serve as the original subscription list
THUS DONE AND PASSED In my notaris
W office in the city of New Orleans, La, !
c. the presence of A. T. Dusenbury and E. Gil
ID thorpe, competent witnesses OF iawIuI az
lel and residing In this city, who hereunto sui
scribe their names, together with said pa
i'd ties and me, notary, on the day and dat
in set forth In the caption nereo1.
RI Original signed:
toll Jas A. Clinton, 312 shares.
toll Per Pro A. S. HILL
Id Jno. s. Perry, 312 shares
Ill Allan s. Perry, ISL shares
ne George III. Penn, Isl Shares
ct witnesses:
ID A. T. DUSENBURY.
f. Z. GILTHOPE. .,,,,r,.
(SeaU Notary Public
/. the undersigned Recorder Of Mortgage
In and for the Parish of Orleans, State
Is Louisiana, do hereby certify that the abo,
OF and foregoing act of Incorporation or Il
re Dixie Delta Farms Company, was this GA
duly recorded in my office In Book 100
t, folio :. o
k, New Orleans, La, Aug. IA, 1911:
r, (Signed) EMILE LEONARD,
oil Deputy Recorder.
ls,l hereby certify the foregoing and with
Is, TO be true and correct copy or the OIL
RI inal act Of Incorporation Of the Dixie Del
nd Farms Company, together with the certl
ng cate of the Recorder Of Mortgages on n
RI and of record In my office.
" In faith whereof / have hereunto set n
to hand and seal this fourteenth day OF
gust, 1911. ,,,sr,s
n- X ssai IL. "a, 81, Sept. Z, ii, 81, 1911.
IT CH