The herald., 1911-10-19
THE HERALD

unpaid. shall accumulate The dividends
upon the said preferred stock, together with
| all accumulations or dividends remaining
unpaid for previous years, shall be PAID In
( full before any dividends shall be paid upon
the common stock Of the said corporation;
The said preferred stock shall be entitled
| to elect two out of the three directors mere
| in provided for and the common stock snail
be entitled to elect the remaining directors.
In the event of the liquidation of the cor
poration for any cause, the preferred STOCK
| shall have a prior lien on the assets of the
| corporation up to and until II shall nave
| received the par value OF the said Stock
Any excess shall then be given to the com
mon stock until its par value shall nave
been paid and anything remaining snail De
divided pro rata among the holders OF all
of the stock, preferred and common.
| Said stock, both common and preferred,
| shall be paid for In installments of such
amounts as the board Of directors may de-
| terIsine.
Any part or parcel of the stock may be
| issued by the said board of directors in pay
ment of labor done or property actually
received by the said corporation.
Separate stock books and stock register
| for each OF the said stock shall be kept, ana
the two classes shall not be mingled.
This corporation shall become a going
concern, and shall be authorized 10 com,
mence business so soon as three thousahu
dollars of its capital stock, either common
or preferred, shall have been subscribed Tor.
ARTICLE ".
All the corporate powers Of this corpora
ton. and the management and control Of its
affairs shall be vested in, and exercised Dy,
board OF directors composed OF three
stockholders a majority of whom shall con.
stitute a quorum for the transaction or all
business. The directors shall be elected
annually by the stockholders, at meeting
to be held on the third TUESDAY IN oStooer
OF each year. Each stakeholder shall be en-
titled, in person or by proxy, TO a vote Tor
every share owned by him, and all elections
shall be held under such rules and reSuIa.
lions as may be determined by the board OF
directors The directors thus elected shall
continue in office for one year. or until their
successors shall have been elected ana nave
qualified. No failure TO elect shaII De re-
garded as a forfeiture of this charter ANY
Sacancy occurring on said board snail be
filled by the remaining directors Tor the I'M
expired term The board OF directors snail,
al its first meeting after It's election noun
nate out of its number, a president, vice
president and secretary-treasurer. SAID
board shall have the right 10 unite any OF
the two above mentioned positions into one,
or may segregate the position or secretary
treasurer and elect secretary who need
not be either a director or stockhoIder,
and it shall employ and dismiss such clerks,
managers and other employees OF the corpo-
ration as the interest and business or the
same mar Justify. Any OF the directors
shall have tie right TO appoint, by written
instrument, another director or stOckholder
TO act as his proxy and in his stead at any
ARTICLE V.
No stakeholder shall ever be held liable
'or responsible for the contracts, faults or
debts OF this corporation, nor shall any
mere informality In its organization nave
the effect Of rendering this charter Vold, OF
OF exposing a stakeholder 10 any liability
beyond the unpaid balance due on the
shares owned by him.
ARTICLE Vi.
This act of incorporation may be changed
modified, or altered, or this corporation
NAV be dissolved, with the assent OF me
stockholders owning three-fourths or the
stock of the corporation, present or repre-
sented at a general meeting convened LOT
that purpose, and after at least ten Gays
written notice shall have been given thro ugh
the mail to each stakeholder at MS last
known place of residence. In case OF dlsso-
luton BY the expiration OF this charter OF
otherwise, the stockholders shall elect three
li1uidators from among their NUMBER 10
settle the business and affairs OF this com
pany. In case Of the death or disability OF
anv one of said commissioners or liquidat-
Ors. the survivors shall appoint successor
to him.
Immediately after the signing Of this
charter the stockholders shall meet and
elect three directors who shall serve until
the election to be held In October, 1872.
Thus done and passed in my office, on the
day, month and year, first above written, In
the presence OF Frank B. Twomey and Jo-
seph L. Weiss, competent witnesses, who
have signed with the appeares and me, the
notary. after reading the whole.
Original signed) 5. J. Sutherland; 300
shares W. c. Campbell, shares j. Ham
ilton Smith, 1 share. (Witnesses) +. b.
Twomey, ]. L. Weiss.
A. D. DANzIGER, Not. Pub.
Substituting Felix J. Dreyfous, another no |
tary public, now absent on leave.)
/. the undersigned recorder of mortgages:
in and for the parish Of Orleans, state of
Louisiana, do hereby certify that the above |
and foregoing act OF Incorporation of the
Imperial Export Company" was this day |
duly recorded in my office, In book 1851 |
folio 1919
New Orleans, Sept. IL, 1911.
(Signed) EMILE LEONARD, ID. II. |
I, Alfred d. DanZiger, a notary public,
duly commissioned and sworn in for the
parish of Orleans and city OF New Orleans,
do hereby certify that the above and fore
going is true and correct copy of the
original charter of the Imperial Export
Company" together with the certificate of
the recorder of mortgages, thereto append
ed the whole on file and of record in the
notarial Office of Felix J. Dreyfous, Esq.
In faith whereof l have hereunto set my
hand and seal this ninth day Of September,
1911. A. ID. DANGER. Not. Pub.
Substituting Felix J. Dreyfous, another