The herald. [volume] (New Orleans, La.) 1905-1953, 1911-07-20

in the city Of New Orleans. parish OF Or
leans State OF Louisiana. and all citations
and other legal process shall be served on
the president. or, in his absence, on the
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
hereby declared to be! TO buy. sell lease.
improve. drain, reclaim. irrigate. plant and
cultivate lands and real estate in the State
OF Louisiana and elsewhere 4: 10 plant cult
vate, buy. sell and deal in cotton. cane, rice
and other agricultural products: 10 con-
StruCt. own. lease and operate canals for the
purpose Of drainage and irrigation, 10 build.
own, lease. sell and operate sugar REIN
cries. manufactures OF all kinds. rice mills.
cotton gins and cotton congresses. and
warehouses as may he necessary or conven-
lent in connection with the business OF this
corporation: TO promote immigration into
and the development of lands in this state;
to feed and pasture cattle in connection
with their lands and for any Of the pur-
poses above stated, to purchase or lease,
and hold, own, or sell or rent out property,
purpose OF developing the same to construct
al nd operate in connection with any of their
lands, such railroads. tramwayS or barge
lines as may be necessary or convenient:
TO make loans and advances to farmers and
other persons or corpora tiOnS, who NAV
own or lease lands. or cultivate the same
10 Owa, conduct and operate general mer-
camille and supply stores, and generally TO
do any and all things that may be neceS-
Sary in or convenient to the accomplish
ment OF the purposes hereinabOve set forth.
and In connection Herewith to make all
contracts requisite or eXpedient to the aC-
cOmpliShment OF any OF the purposes for
which this corporation is organized.
ARTICLE ".
The capital stock OF this corporation is
hereby fixed at the sum Of one hundred and
fifty thousand dollars (S150.00OD, divided
into and represented by fifteen hundred
(l500) shares OF the par value OF one hun
dred $1,000 each, which shall be paid for
in cash, or may be issued at not less than
par for the services rendered to. or prop
erty purchased by. said corporation, or pay
able in instruments on such terms and con-
ditions as the board OF directors may fix.
The certificates OF shares OF stock shall
not he issued until fully paid for, and shall
be signed by the president and by the sec
rotary. or in the absence or inability Of the
president or secretary to act, by the vice
president. Said stock shall be transfer
able only on the books OF the corporation
and on surrender or due proof Of loss OF the
original certificate; and until such trans
fer on the books of the corporation, the
corporation shall he authorized TO treat the
recorded owner as the owner for all pur-
poses.
become going concern as soon as fifteen
thousand (s15.OOO) dollars shall have been
subscribed to the capital stock.
ARTICLE V.
All the power OF this corporation shall
he vested in and exercised by a board OF
i've To- directors, each OF whom shall own
at least one share of the capital stock OF
this company, pursuant to such rules and
regulations they may adopt. The said
directors shall be elected by ballot at an
annual meeting Of the shareholders, under
the supervision Of two commissioners OF
election appointed by the board OF direct
second Thursday OF March OF each year
after due notice and advertisement in one
or the daily newspapers for ten days prior
10 the holding Of such an election. At all
meetings Of the shareholders each share
holder shall be entitled to cast one vote.
In person or by proxy. on each share OF
stock held by him, but no person shall
vote any stock transferred to him within
ten tlO) days prior to the holding OF an
election. At any meeting OF the board Of
directors, any directors absent from the
city may be represented by any other d.
rector. who may east the vote OF the ali
sent director according to the written in
structiOns OF said absent director.
The board Of directors shall have full
power and authority to sell, lease. mort
gage or pledge any and all OF the property,
movable and immovable, belonging TO the
company without referring 10 the stock
holders for power so to do, and they may
also purchase for cash. or on credit, prop
erty OF any kind required for any OF the
purposes OF the company without Authority
Of the shareholders; or make any contract
whatsoever for and in the name of the
corporation.
The board OF directors shall have full
power and authority TO employ, appoint for
such time as they deem proper, and to dis
miss such managers, superintendentS
agents and employees as they see fit, and
10 nix their compensation.
The officers Of this company shall be a
president, vice president, secretary and
"a treasurer, the secretary need not be a
stakeholder or a director.
Until the next general meeting Of the
stockholders to be held under this charter
viz: on the second Thursday OF. March.
1912, the following named persons shall
compose the board Of directors. viz: F. A.
Pharr, J. A. Pharr, ]. f. Burguieres, Jules
NJ. Burguieres, W. T. Luck. with ]. E.
Burguieres as president, F. A Pharr as
vice president, f. A. Burguieres as secre-
tary, and Jules VI. Burguieres as treasurer.
In case OF any vacancy either in the above
named board Of directors. or in any other
the remaining members shall have the pow
er to fill the vacancies, and all directors
and officers Of this company shall remain in