The herald. [volume] (New Orleans, La.) 1905-1953, 1911-06-15
CHARTER
OF MERCANTILE ADJUSTMENT com
IANE.
April 90, 1911

vi lbll lSlANA. PARISH Or ORLEANS.
CITY OF NEW ORLEANS.
BE II known. that on this twentv-nintb
day Of 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-fifth
before me, Frederick DeibeI, a Notary Pub
lie, in and for the Parish Of Orleans State
or Louisiana, duly commissioned and quail
lied. and in the presence Of the witnesses
hereinafter named and undersigned. person
ally came and appeared the parties whose
names are hereuntO subscribed who sever
ally declared that, ayailng themselves of
the provisions Of the laws OF this state rel
atiye TO the organization Of corporations
and especially of act No - OF the LegiSIa-
tive Acts of the General Assembly of the
state OF Louisiana for the year nineteen
hundred and four. approved July 4th. 1904
and OF the other laws of this state relative
10 corporations and the organization and
formation thereof, they have COvenanted and
agreed and do by these presents covenant
agree and bind themselves. as well as such
other persons who may hereafter become
associated VITA them or their successors
to form and constitute corporation or
body polite in law, for the objects and pur-
poses and under the agreements and stipula
tions following, to-wit:
The name and style of this corporation
shall be Mercantile Adjustment Company.
and by that name II shall have power and
authority 10 exist and enjoy succession for
:,
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 Of 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 to act, upon the vice-president; or,
in the absence or inability of both the pres
ident and vice-president to act, then upon
the secretary Of this company. The presi-
dent shall he the executive officer of this
corporation; he shall preside at meetings
or the Board of Directors and stockholders.
ARTICLE III.
The objects and purposes for which this
corporation is established and the nature Of
the business 10 be carried on by it are here.
by declared to be as follows, to-wit:
To carry on and conduct a collecting, ad-
justing, auditing, accounting and agency
business; 10 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 enjoy
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 corporate seal, the same to alter
or break at pleasure, but the failure TO have
a seal shall not invaldate any of the acts
or proceedings of this corporation; name
and appoint such managers, directors, Off
GERS, clerks and agents as the interest and
convenience Of said corporation 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
may be necessary, and the same to alter and
MI and hall nj
the rights, powers, and privileges to which
corporations are or may be by any general
law or laws of this state authorized and
entitled to possess. Said corporation may
other state or territory In the United States
or foreign country that shall permit the
same.
ARTICLE V.
The capital stock of this corporation Is
hereby fixed at the sum of twenty-five thou
sand and O0-1OO 1925, 100000 Dollars rep
resented by two hundred and fifty shares
of one hundred and 0O-100 (S1O0O0) dol
lars each. All stock subscribed for shall
be payable at such times and on such
terms and conditions as the Board Of d.
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
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
stakeholder, within which time persons hold
ing stock In this corporation shall have the
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 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 Tor direc.
tors by the stockholders shall be held al
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
pearing not less than ten days prior TO the
meeting and the last advertisement appear
| ing on the day Of the meeting.
Every Board Of Directors shall at us
| first meeting after its election or as soor
thereafter as practicable, elect president
ylce-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 offices
and another election shall be held as sooI
| thereafter as practicable at time 10 b,
fixed by the Board Of Directors then In OF
| fee. whereof five days prior notice shall b.
| In ha above DrOvidp1.