The herald. [volume] (New Orleans, La.) 1905-1953, 1911-05-25

The capital stock OF this corporation /,
hereby fixed at the sum of one hundred thou
sand dollars (SlOO,O 900. 0O4, divided into
and represented by one thouand share,
| ll,OOOD Of stock Of the par value OF one
hundred dollars (Sl0O.O0D each. The said
stock may he paid for at such times and in
such amounts. and after such notice to the
subscribers, as may be fixed by the Board
or Directors; the said stock NAV be issued
Tor cash at not less than par, or for labor
done, or property actually received by said
| corporation.
The corporation shall become a going con
Germ and be authorized to do business as
soon as one hundred (1OOD shares Of the
capital stock shall have been subscribed for
ARTICLE V.
All the corporate powers OF said corpor
alton shall be vested in and exercised by
a Board Of Directors TO be composed OF
five 90 persons to be elected annually ON
the second Monday OF March In each wear
| except the first Board OF Directors named
In this charter. This first Board OF Direc.
tors shall hold their Office until the second
| Monday Of March. 1912, or until their sue
cesSors have been duly elected and qualified
All such elections shall be held BY ballot
and conducted al the office Of said corpora
ton, under the supervision OF three 90
commissioners, to be appointed by the board
| OF directors.
Notice OF such election shall be given by
| the secretary OF the company by publica-
ton for not less than ten 1Ol days prior
ihereto IN newspaper published in the
| iarlsn or Orleans, State OF louisiana
| At all such elections and at all corpOrata
meetings, every stakeholder shall be emit
| tied 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 his
| written proxy, and three-fourths OF the
votes cast shall elect.
Any vacancy among the directors by
death, resignation or otherwise, shall be
illed by election for the remainder Of the
| term by the remaining directors
A failure TO elect directors on the date
| above specified shall not dissolve the cor
| poration, nor impair its corporate manage
ment; but the directors then in Office shall
remain IN once until their successors are
| elected and qualified.
The Board OF Directors shall elect from
| their own number president, a vice-presi-
dent, and a secretary-treasurer. The sec
| retary-treasurer NAV or NAV not be a mem.
| Der of the board, and the Board Il Direc.
| tors shall have the power to divide the Of
nee or secretary-treasurer into two (2) of.
noes and create the Office Of secretary and
| the Office Of treasurer. They NAV from time
to time name and appoint all such officers
| and agents as 1t may deem necessary for
the purposes and business Of the corpora.
ton They shall have power to fix and de
fine the duties OF every officer and employee
and all officers and employees shall hold of.
flee and employment at the pleasure of the
board. The board may make and establish
as well as alter and amend, any and ar
bylaws, rules and regulations necessary
and proper in its judgment for the conduct
support and management of the business
and affairs Of said corporation
The board shall have. full power and au
thority TO borrow money, TO execute mort.
cages and to create liens; to issue bonds
notes and other obligations, and generally
to do all things reasonable. convenient and
necessary for the proper carrying on OF the
business OF the corporation.
~ 81
stock for cash, or In payment OF labor done
pOration.
Every member Of the Board of Directors,
In case OF his absence from the domicile of
| the company at any time shall have the
right to name and appoint in writing a
proxy who must be a stakeholder, to repre-
| sent him and to sit and vote In his place
| and name at all meetings Of the Board of
| Directors which may take place during his
absence from the dOmicile Of the company.
ARTICLE vi.
| Whenever this corporation may be dis
solved, either by limitation or from any
| other cause, its affairs shall be liquidated
| by three 90 commissioners, to be appoint
ed from amongst the stockholders at a gen
| eral meeting Of the stockholders convened
for such purpose, of which meeting notice
| shall be given In the manner and time pro-
vided for stockholders meetings by Article
| VII OF this charter, and three-fourths In
| amount OF the capital stock of said company
represented at such meeting shall be re-
| quiste TO elect. Said commissioners shall
remain in office until the affairs of said
corporation shall be fully liquidated. In
| case of the death of one or more of said
commissioners, the vacancy shall be filled
| by election by the surviving commissioners.
ARTICLE VII.
This act Of Incorporation may be modl.
| fed, changed, or altered, or said corpora
| ton may be dissolved with the assent of
| three-fourths Of the capital stock represent
| ed at a general meeting of the stockholders
| convened for such purpose, and after notice
| shall have been given In one or more news
papers published In the City of New Or
| leans, once a week for four weeks preced-
ing the meeting and by a written notice to
each stockholder mailed to him thirty days
| prior to the date Of the meeting, at the post
office address designated by him In writing.
| Any change proposed or made In refer
| ence to the capital stock shall be made In
accordance with the laws of the State OF
Louisiana, on the subject of altering the
capital stock Of corporations
ARTICLE VIII.
No stakeholder shall ever be liable for
| the contracts or faults of said corporation
In any further sum than the unpaid balance
| due the corporation on the shares Of stock
| mality in organization have the effect of
| rendering this charter null. or Of exposing
I a stakeholder to any liability beyond the
unpaid amount remaining due on his stock.
ARTICLE TX.
| A. W Fournet Martin J. VOORHEES,, F.
Rouge, John +. Clark and J. Edward Crusel
| have been chosen and selected as the first
Board OF Directors Of this corporation, with
]. Edward Crusel as president, Martin ].
VOORHEES, as vice-president, and c. F. Swan,
| as secretary-treasurer, to hold office until
| the second Monday In March, 1912, and I'M
| til their successors have been elected and
| qualified.
| The subscribers hereto have respectively
| written opposite their names the amount of
| stock in this corporation subscribed for by
| each OF them, 50 that this act Of incorpora-
ton may also serve as the original sub
| scription list Of said corporation.
| Thus done and passed at my Office, In the
City Of New Orleans, on the day, month and
| year first above written, In the presence OF
Frank W. Hart and John Dahmen, Jr., corr
| petent witnesses, who have hereunto signed
| their names, together with the said appear
ers and me, Notary, after due reading OF
| the whole.
Original Signed ]. Edward Crusel, "a
shares, s3.400; Martin ]. VOORHEES,, 80
shares, $1,000; A. v. Fournet. 33 shares
| $1,000; c. W. Mcbride, IS shares, $4,000
| FIR. Rouge. 10 shares, $1,000; John f
Clark. 10 shares, $1,000.
Witnesses: Frank VIM. Hart, John Dab