The herald. [volume] (New Orleans, La.) 1905-1953, 1911-03-16

adapted and to erect, build, purchase, lease
or otherwise acquire and operate and main
wharves, power houses, plants, water works,
water mains and pipes and necessary dams,
machinery, fixtures and apparatus OF every
sort for the carrying on Of any Of the afore-
said lines Of business.
ARTICLE ".
The capital stock Of this corporation is
hereby declared to be the sum Of twenty
four thousand (s24,00000) dollars, divided
into two hundred and forty GAO shares OF
the par value of one hundred dollars (S1OYl
each. Said stock shall be issued only for
cash, or in payment for land or other prop
erty actually purchased and conveyed to
said corporation, or for labor done or ser
vices rendered. No transfer OF the capital
stock shall be binding upon the corporation
unless recorded on the books thereof and
made in accordance with tbs charter and by
laws. Said capital stock shall be full paid
at the time of its issuance and non asSessa-
Bile and the capital stock may be decreased
or increased, In the manner provided by
shall commence doing business when three
thousand (S3,00000) dollars of the stock
shall have been subscribed for.
ARTICLE V.
All the corporate powers Of this corpora
tiOn shall be vested in and be exercised by
a Board of two directors, and the presence
and concurrence OF both shall be necessary
for the transaction OF any and all business.
The first officers of this corporation shall
be Erwin E. Hammer, President; Clifford T..
Hitcnings, ,ice-President, and Sol. j. Drape-
kin, secretary Treasurer, and the first board
OF directors shall consist OF the said Erwin
Z. Hammer and Sol. ]. Drapekin. Said Off
GERS and directors shall hold office until the
first Tuesday in February, 1912, or until
their successors are duly elected and in
stalled On the first Tuesday in February,
1912, and annually thereafter, meeting
Of the stockholders shall be held for the
purpose Of electing directors for the ensu-
ing year. Said election shall be by ballot,
al the dOmicile OF the corporation, and the
stockholders receiving a three-fourths ma
jority Of the votes cast shall be declared
elected. Each share OF stock shall be enti-
tied to one vote. The directors, when so
elected, shall elect from their number q
President and a Secretary Treasurer. They
shall have power to appoint such other Off
GERS, agents and employees as may be neces-
sary and proper for the proper conduct Of
the business Of the corporation. In case
of vacancy on the Board of Directors or
among the officers, from death, resignation,
removal or any other cause, the vacancy
shall be filled at a special meeting of stock
holders called for that purpose. The Board
of Directors shall have power to enact such
bylaws rules and regulations as may be
necessary and proper.
ARTICLE VI.
Notice of all meetings Of stockholders for
election Of directors or for any other pur-
pose shall be given In writing by the Sec
rotary Treasurer to be deposited in the mail,
at least ten days before such meeting is
held, and directed to each stakeholder, to
his name and address, as the same shall
appear upon the books of the corporation,
unless said notice Is waived in writing by
upon the books. At all such meetings, ev-
cry stakeholder, whether present In person
or by proxy, shall be entitled to one vote
for each share of stock standing in his name
hooks
fourths majority OF the votes so cast shall
be sufficient TO elect or decide all questions
voted upon.
ARTICLE VII.
No stakeholder shall ever be held liable
or responsible for the contracts or faults of
this corporation In any further sum than
the unpaid balance due to the corporation
on the shares OF stock owned by him, nor
shall any mere informality in orgs MIA ton
have the effect OF rendering this charter
null or Of exposing a stakeholder to any liza
bility beyond the unpaid balance due upon
his stock.
ARTICLE VIII.
No stakeholder may sell, assign or trans
fer his stock in this corporation without
tary-Treasurer thirty days prior notice in
writing OF such intention, and the other
stockholders shall have the first privilege
OF purchasing the said stock at the book
from said notice, after which thirty DAYS
notice the said stock may be sold in the
open market.
ARTICLE TX.
This act Of Incorporation may be altered.
amended or modified, or the corporation
dissolved by a vote Of threefourths in
amount Of the capital stock, represented at
q general meeting Of the stockholders called
for that purpose, after giving notice thereof
as provided in Article vi OF this act and
In case of dissolution, at least a majority
OF the entire stock must be present or rep
resented at such meeting, and the stockhold-
ers at such meeting shall elect two liqui-
dating commissioners who shall have entire
charge oil such liquidation, with authority
TO sell and dispose of the assets of the cor
poration, and to ill any vacancy occurring
IL their number. The subscribers hereto
have respectively written opposite their
names the amount Of stock In this corpor.
alton subscribed by each Of them, so that
this act Of Incorporation mag also serve as
the original subscription list of said cor
poration.
Thus done and passed, In my Office, at the
City of New Orleans, on the day, in the
month and year first hereinabove written,
in the presence of Messrs. /. R. Saal and
E. L. Szabary, competent witnesses, who
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