The herald. [volume] (New Orleans, La.) 1905-1953, 1911-05-18
CHARTER
n MERCANTILE ADJUSTMENT COM
pANN

y /
PANY.
April %. 1911.
UNITED STATES OF AMERICA. STATE
OF LOUISIANA. PARISH OF ORLEANS
CITY OF NEW ORLEANS.
BE it known. that on this twentv-nintl
day OF April, in the year OF our Lord on,
thousand nine hundred and eleven and o
the independence Of the United States %,
America the one hundred and thirty-tfth
before mo. Frederick Drihel "A Notary Pub
lie, in and for the Parish Of Orleans Stat,
OF Louisiana, duly commissioned and DUAL
lhed. and n the presence Of the witnpSSe,
hereinafter named and undersigned, person
ally came and appeared the parties whose
names are hereuntO subscribed. who sever
ally declared that, availing themselves al
the provisions Of the laws OF this state rel
ativ" to the Organization Of corporation,
and especially Of act No. IS OF the IegiSla
tive Acts Of the General Assembly of tn,
State or Louisiana for the year nineteen
hundred and four. approved July 4th 1904
and of the other laws OF this state relatiy,
10 corporations and the organization and
formation thereof, they have COyenanted am
agreed and do by these presents covenant
agrc" and bind themselves. as we'll aS SIIcl
other persons who NAV hereafter hecOm,
associated VITA them or their Successors
10 form and constitute a corporation oi
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 CORPORATION
shall be: Mercantile Adjustment Company
and by that name it shall have power and
authority 10 exist and enjoy succession fol
the full term and period Of ainety nine years
commencing on and 10 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
Siana. All citations and other legal process,
hn h., L., e {
corporation; or, in case of his absence OF
inability 10 act, upon the vice-presdcnt: or
in the absence or inability of both the pres
idcnt and vice-preSident to act. then upon
the secretary Of this company. The prcSi
dent shall be the executive officer of this
corporation; he shall preside at meeting,
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 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: to represent and act for and De
the agent of other persons or parties in any
and all matters above named or of any
other character. and generally 10 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
a seal shall not invalidate any OF the acts
or proceedings OF this corporation; name
and appoint such managers, directors, Off
GERS, clerks and agents as the interest anC
cnn nf 50 in mo tip.a
and through its Board OF Directors max,
and establish such bylaws, rules and regu
lations for the proper management and reg
ulatiOn Of the affairs Of said corporation a:
may be necessary, and the same to alter anC
change at pleasure, and shall possess al
the rights, powers and privileges to which
corporations are or may be by any genera
law or laws of this state authorized anC
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.
ARTICLE V.
The capital stock OF this corporation is
hereby fixed at the sum OF twenty-five thou
sand and 00-100 (S25, 100000 Dollars, rep
resented by two hundred and fifty shares
OF one hundred and OO-1OO 100000 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 Ii, or for rights, priv
ileges or franchises transferred to II, 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
hr hn or oh nI Aar nr hu aff
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
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
H.
composed Of stockholders thereof, and they
and each Of them shall be elected by
ma jority 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
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 APP
pearng 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 Its
first meeting after its election or as soon
thereafter as practicable, elect president,
a vice-president and a secretary from their
own number.
failure to elect directors on the date
above specified shall not dissolve the cor.
nora tior hut the then existing Board OF