The herald., 1911-11-09

n preaments and stipulations herein follow
ing which they adopt as their charter, to-
wit:
ARTICLE l.
The name of this corporation shall be
BELTS NAVAL STORES COMPANY, and
shall have corporate existence for the pc
riod of ninety-nine 800 years from the
date hereof and shall have and exercise
for the purpose of the business to be car
ried on by II, all the powers conferred by
law on similar corporations, including the
power to make and use a corporate seal and
the same TO break or alter at pleasure, TO
contract, sue, and be sued in its corporate
name; to hold, own, receive. purchase,
ALLEVIATE, lease, convey, mortgage, hypothe-
cate, pledge or otherwise cucumber pro-
perty, both real and personal; TO issue
bonds, notes and other obligations, for the
purpose of borrowing money, and TO secure
same by mortgage or otherwise, TO name
and appoint such officers, managers, direc-
tors, agents and other employees, as the
interests of said corporation may require,
and TO establish such bylaws, rules and
regulations as may be necessary and pro-
per, and the same to alter, amend, or abol-
ish at pleasure and to generally do and per-
form all such acts as may be proper and
necessary to carry out and execute the pur-
poses of this corporation.
ARTICLE II.
The domcile of this corporation shall be
in the city of New orleans, state of LOuisi-
ana, but 1t may establish and operate fac
tories, Offices and agencies wherever it may
deem advisable. All citations other le-
gal processes shall be served on the presi-
dent OF this corporation, or in the event Of
his absence or inability to act, upon the
vice-president
ARTICLE III.
The objects and purposes for which this
| corporation Is organized and the nature of
| the business to be carried on by Ii, are
| hereby declared to be the general turpentine
and lumber business in all its various
branches, and to that end to manufacture,
| purchase and sell turpentine, pitch, tar,
rosin and naval stores; to acquire, own
| construct and operate turpentine stills, saw
| mills, planning mills, driers and all machin
| cry and appliances necessary in connection
with the operation of said business, and tC
manufacture any products OF wood, such as
sash, doors, blinds, trimmings, boxes, furni
| ture and articles of wood and its various
by-products. And furthermore, TO own anC
operate in connection with said bushes:
tram-roads, logging roads, sailing vessels
steam vessels and other water craft neces
sary for the transportation Of its materia
and products and also do mercantile bust
ness.
ARTICLE ".
/, The capital stock of this corporation 4
, hereby fixed at three hundred thousan,
OO,OOOOO) dollars, divided into and rep
. |
of one hundred (s1OO.OO) dollars each
, which said stock shall be paid for in cash
: or may be issued at par in payment of pro
perty. actually purchased, or services actu
!. ally rendered to this corporation, whicl
said stock shall be full paid and non-assess
ible.
This corporation shall be authorized I
commence business and be a going concern
: upon payment In full of its capital stock, a
above provided.
The SHARES of this stock shall be tran:
ferrable only on the books of this corpors
ton, and no transfer of stock shall be bind
Ing or have any effect upon this corporation
unless, and until made upon its books an
prior lien on all shares of stock shall
retained by this company on the stock G
) cured or unsecured, however evidenced Q
created, due at any time to the compan
: by the holder of said stock, and all tran,
fers of stock shall be made subject to thes
conditions.
ARTICLE v.
All the corporate powers Of this corpor,
tion shall be vested In, and exercised by
. board of six (6) directors, who shall eac
!, be a stakeholder in this corporation, tn
4 majority Of whom shall constitute quorul
: for the transaction of all business and
majority vote at any meeting shall decid
all questions voted upon.
Said directors shall be elected annual
from the stockholders, on the first Tuesda
, OF April in each year, after due notice {
said meeting shall have been given to eac
stakeholder, sent by mail to his last know
address, ten (10) days prior to the holdin
: of said election, which said notice or an
; other notice required by this charter, ma
be waived In writing.
At said election, and at all other NEE
ings of the stockholders, the vote shall /
- nI Ia Av.I ~Ao 90 - IL hall