The herald. [volume] (New Orleans, La.) 1905-1953, 1911-05-25
CHARTER
OF MERCANTILE ADJUSTMENT coy
PASY

! UNITED STATES OF AMERICA. STATE
OF LOUISIANA. PARISH OF ORLEANS.
! CITY OF NEW ORLEANS
! Be ii known. that on this twenty ninth
| DAY or April, in the year Of our Lord one
! thousand nine hundred and eleven and OF
| the Independence Of the United States Of
| America the one hundred and thirty NTH
| before me. Frederick Deibel. Notary Pub
! lie. in and for the Parish ~ Orleans. State
| or Louisiana, duly commissioned and qLal-
| flied. and 10 the presence or the witnesses
| hereinafter named and undersigned, person
ally came aad appeared the parties whose
names are hereuntO subscribed who sever
| ally declared that. ayailing themselves Of
the provisions Of the laws Of this state rel
ativ" to the Organization Of corporations
and especially Of act No. IS Of the LcgiSla-
| tive Acts o, the General Assembly " the
| Sta'e OF Louisiana for the year aineteen
| hundred and four. approved July 4th. 100 I.
and Of the other laws OF this state relative
| to corporations and the organization and
| formation thereof, they have cOyrnsnted and
agreed and do by these presents covenant
| agree and bind themselves, as well as such
| other persons who may hereafter become
associated wlth them or their successors.
| 10 form and constitute a corporation or
body polite in law, for the objects and pur-
poses and under the agreements and stipula-
tions following. to-wit:
| ARTICLE l.
The name and style Of this corpora ton
| shall b.: Mercantile Adjustment Company.
and by that name it shall have power and
| authority To exist and enjoy succession for
| the full term and period Of ninety nine years
commencing on and to be computed from
and after the date and day hereof
ARTICLE II.
The domicile OF this corporation shall be
| in the city or New Orleans. State OF Lou
| isiana. All citations and other legal process
| shall be served upon the president Of said
| corporation; or, in case OF his absence or
| inability 20 act upon the vice-president or
in the absence or inability OF both the pres
| ident and ce-preSdent to act, then upon
| the secretary Of this company The prcSi-
| dent shall be- the executive officer Of this
| corporation he shall preside at meetings
OF the Board OF Directors and stockholders
| ARTICLE III.
| The objects and purposes for which this
| corporation is established and the nature Of
| the business TO be carried on by IL are here.
| by declared to be as follows tO-wit:
| To carry on and conduct a collecting ad
juSting, auditing, accounting and agency
| business to represent and act for and be
| the agent OF other persons or parties in any
| and all matters above named or OF any
| other character, and generally TO do all
things necessary or convenient TO properly
conduct the business OF this corporation.
| ARTICLE ".
| This corporation may sue and be sued in
| its corporate name; hold, have, receive
purchase, convey, sell, mortgage, hypothe
cate, pledge, lease and suitcase and eniO
| real, personal and mixed property; also
| borrow money, make and issue notes and
| bonds, make contracts; receive grants OF
land, or Of personal property; and make
| and use a corporate seal, the same to alter
or break at pleasure. but the failure to have
| a seal shall not invalidate any OF the acts
| or proceedings OF this corpora ton name
and appoint such managers, directors, Off
| GERS. clerks and agents as the interest and
| convenience Of said corpora ton may require (;
and through its Board OF Directors make
| and establish such bylaws, rules and regu-
| latiOns for the proper management and reg
| ulation OF the affairs OF said corporation as
| NAV be necessary, and the same TO alter and
| change at pleasure, and shall possess all
| the rights, powers, and privileges to which
| corporations are or NAV be by any general
law or laws OF this state authorized and
| entitled to possess. Said corporation may
| exercise its corporate powers within any
! other state or territory in the United States,
| or foreign country that shall permit the
same.
The capital stock OF this corporation Is
hereby fixed at the sum OF twenty five thou
sand and 00-100 1925, 100000 Dollars, rep
resented by two hundred and fifty shares
OF one hundred and 00-lO0 (S10O.00) dol
lars each. All stock subscribed for shall
be payable at such times and on such
| terms and conditions as the Board Of Di-
| rectors may from time TO time fix and de-
| termine in each particular case, or by gen
eral resolution, or the Board OF Directors
| may issue certificates of paid-up stock in
payment Of property or goods actually de
livered to this corporation or for services
| actually rendered TO 1t, or for rights priv
| ileges or franchises transferred to IL, the
valuation In each instance TO be agreed to
by the Board Of Directors, which shall have
| full and final power to do so.
| All transfers of stock shall be made on
| the books Of the corporation and shall be
signed by the stakeholder or by his attOr.
ney.
At all elections by or meetings Of the
| stockholders each share of stock, whether
paid for in full or not, shall be entitled to
| one vote, to be cast either by the person in
whose name the stock appears on the books
OF this corporation at the time OF the vot-
| ing, or by his agent or proxy, duly author
| lied in writing to that effect.
The company shall begin operation as
soon as thirty shares OF the capital stock
are subscribed for or disposed Of
Dividends shall be declared on the amount
actually credited on the capital stock with.
out regard to the amount subscribed for.
Said capital stock may be increased In
| the manner provided for by the laws OF this
state. Whenever an increase OF said cap
| ital stock shall have been authorized or
additional stock issued fifteen days writ.
| ten or printed notice shall be given to each
stockholder, within which time persons hold
| ing stock in this corporation shall have the
| right to subscribe for said Increased stock
| or additional issue Of stock In proportion
| to the number OF shares OF stock then held
| by them, and which additional shares shall
be paid for as the Board OF Directors may
| direct. After the expiration OF said time
the Board Of Directors may dispose OF the
shares not taken, for the benefit of the com
pany in such manner and on such terms and
conditions as they may think proper.
| ARTICLE vi.
The business and affairs and corporate
| powers Of this corporation shall be trans
| acted by a board of three directors to be
| composed Of stockholders thereof, and they
| and each Of them shall be elected by a
majority Of all the votes cast at a meeting
| to be held for that purpose.
As soon after the execution OF this char
ter as practicable, the subscribers hereto
shall hold a meeting and select those to
compose the first Board of Directors OF
! this corporation and they shall hold office
| until the second Tuesday In May 1912 or
until their successors are elected and quail
flied; each subsequent board shall take
| their seats Immediately following their cleo
| ton, or as soon thereafter as practicable
and shall hold their office until their sue.
cessors shall have been elected and quail
| fed.
| On the second Tuesday In May, 1912. and
| annually thereafter, an election for direc-
| tors by the stockholders shall be held at
the Office Of the company, after ten days
| previous notice OF such meeting shall have
| been given by advertisement appearing three
times In ten days In one OF the daily Eng
| lish newspapers published In the City OF
| New Orleans, the first advertisement ap-
| pearlng not less than ten days prior 10 the
| meeting and the last advertisement appear
| ing on the day Of the meeting.
| Every Board Of Directors shall at It's
| first meeting after its election or as soon
thereafter as practicable, elect president,
| a vice-president and a secretary from their
| own number.
| A failure to elect directors on the date
above specified shall not dissolve the cor.
| poration but the then existing Board OF
| directors shall continue to hold their ofnces,
and another election shall be held as soon
| thereafter as practicable at time 70 ne