The herald. [volume] (New Orleans, La.) 1905-1953, 1911-11-30

processes shall be served upon the president
OF said corporation, or in the event OF his
absence upon the vice-president or acting
president thereof, and in the absence OF
both OF said officers, upon the secretary OF
ARTICLE III.
The objects and purposes for which this
corporation Is established, and the nature
OF the business TO be carried on by 1t are
declared and specified TO be: to buy and sell
manufacture chicle products or by-products,
10 own, lease or operate chicle groves or
forests and any or all appurtenances per-
tanning to the extraction. cleaning, drying
or manufacture OF chicle its products or by
products. To buy, sell or manufacture can
dies and all that pertains thereto and gen.
orally TO do all acts and to make all con-
tracts necessary. convenient or In any man
ner appropriate for the carrying on Of said
business.
ARTICLE ".
The capital stock of said corporation is
hereby fixed al fifty thousand $50 0OO0)
dollars, divided into or represented by fifty
thousand (50,OOO) shares of one (S1O0)
dollar each.
The whole Of said stock, or such part
thereof as may be necessary, may be issued
for the assignment and transfer to this
corporation for any formula or formulas,
or recipe or recipes also in payment, settle
ment and adjustment of the costs, fees
charges, expenses and commissions incurred
for services rendered in the formation and
organization OF this corporation; likewise
for cash or In settlement of such amounts
and al such times as the board Of directors
may determine
The board hereinafter created il especially
authorized to dispose Of the stock for any
and all OF the purposes above stated, as in
its judgment seems fair and proper.
ARTICLE V.
All the powers Of said corporation shall
be vested in and exercised by board of
directors to be composed of not less than
five 90 nor more than seven 90 stock
holders, to be elected annually on the Sec
ond Monday In December in each year. All
such elections shall be by ballot and con-
Quoted at the Office of said corporation I'M
dGr the superiI,tendeney Of two 2 com
tors, or shall 1t fail to act, by the presi-
dent. and Of such elections, as well as Of all
meetings OF stockholders, except for the pur-
pose of liquidation or dissolution or as 9TH
erwise required by law, notice shall be given
BY publication for not more than ten and
not less than seven consecutive days prior
to and including the date Of such election,
city Of New Orleans. Each stakeholder
shall be entitled to one vote for each share
OF stock standing in his name on the books
OF the company to be cast In person or by
proxy, and the majority of the votes cast
shall elect. The board of directors shall
have the power to fill all vacancies that may
occur on the board. A failure to elect d.
rectors on the date specified shall not dis
solve the corporation. but the directors then
In ONCE shall remain In Office until their
successors are elected; due notice of an
other election shall be given as above pro-
vided, and such notices shall continue to be
given until an election Is held. The major
ity Of the directors shall constitute a quo
rum for the transaction OF business and the
board OF directors at its meeting following
each annual election shall elect a president,
one or more vice-presidents, a secretary and
a treasurer, and such other officers as II
shall deem necessary. The board shall have
the power, In its discretion, TO unite two or
more Offices, and the same to confer upon
one person. The board Of directors may ap-
point from time to time such officers. clerks,
agents and other employees as they may
deem necessary for the business and the pur-
poses Of the corporation. All officers,
clerks, agents or other employees shall hold
Office only at the pleasure OF the board.
Said board shall make and establish, as well
regulations necessary and proper for the
support and management of the business
and affairs Of the said corporation NOT In
consistent with the charter, and generally
to 10 all things reasonably necessary for the
carrying on of the business of the corpora
tion.
ARTICLE VI.
Whenever this corporation may be dis
solved, whether by Limitation or from any
other cause whatsoever, its affairs shall be
iquludte0 Dy three STOCKHOLDERS, 10 De ap-
pointed at the general meeting of the stock
holders convened for the purpose OF liquida-
ton as hereinafter provided. each share be-
ing entitled to one vote, in person or by
proxy. Such commissioners shall remain in
office until the affairs of the corporation
shall have been fully settled and llquidated,
and shall have full authority and power to
transfer and give title to all assets and
property of the corporation. In case OF
death, disability or resignation of one or
more of said commissioners, the vacancy
shall be filled by election by the surviving
commissioner or commissioners.
ARTICLE VII
This act of Incorporation may be modified,
changed or altered, or said corporation may
he dissolved with the assent OF two-thirds