The herald. [volume] (New Orleans, La.) 1905-1953, 1911-06-01
CHARTER
OF MERCANTILE ADJUSTMENT "a
PANN

|
| BE IL known. that on this tvantv o.
DAY or April. in the wear OF our TGrJ an,
| thousand nine hundred and eleven and nt
| .ie Inheprhdrnce of the United States OF
fn1rrIca me one hundred and thirty fifth
| nrlore me, Frederick peibel a Notary pub
| nc In and for the Parish OF Orleans STATE
OF LOUISIANA. duly commissioned and a, a
| iHel: ana IN the presence Of the yitnesse.
M ,UULt'naIler named and undersigned. person.
an! came and appeared the parties whose
! names are hereuntO subscribed who sever.
| Any declared that. availing themselves of
me provisions Of the laws Of this state rel
| dtIFe 10 The Organization Of cnrporatinn.
| and especially OF act No. IS q, m. IcCisIa
| i've Acts or the General Assembly ~ tho
stare or Louisiana for the wear nineteen
nundrsd ana four, approved July 4th. 1904
anu OF the other laws OF this state relative
| 10 corporations and the organization ana
formation thereof, they have coven2ntr5 and
| agreed and do by these presents covenant
agree ana bind themselves, as well as such
other persons who may hereafter b.com.
associated wIth them or their successors
TO form and constitute a corporstio, or
BODY polite in law, for the objects and mr.
POSES ana under the agreements and Stipuls
lions Following, to-wit:
ARTICLE l.
Inc name and style Of this Corporation
Shail he Mercantile Adjustment Comna.y
anu ny that name II shall have power aud
authority 10 exist and enjoy succession for
the fuli term and period Of ninety nine Years
commencing on and to be computed from
ana AFTER the date and day hereof
ARTICLE H.
The domicile Of this corporation shall no
IN the city OF New Orleans State OF Lon.
lSiana. All citations and other legal process
snail be served upon the president Of said
corporation or, in case OF his absence ar
inaDlllty TO act upon the vice president; or
IN me absence or inability Of both the prrs.
ldent and yice-preSdent to act then unon
me secretary Of this company The prcSi-
dent shall be the executive ofIrar ~ mis-
or the Board OF Directors and Stockholders
ARTICLE III.
Inc objects and purposes for which this
corporation is established and the nature of
the business 10 be carried on by it are here.
by declared TO be as follows, tO-wit:
To carry on and conduct collecting ad.
JuStinS, auditing, accounting and. agency
business: to represent and act for and lao
the agent OF other persons or parties i'm any
and all matters above named or OF any
other character, and generally to do all
thlhgS necessary or convenient to properly
conduct the business of this corporation.
ARTICLE ".
ms corporation may sue and be sued In
It's 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
ponds, make contracts: receive grants OF
land' or or personal property; and make
ana use corporate seal, the same to alter
or break at pleasure, but the failure to have
a seal shall not invalidate any OF the acts
OF proceedings or this corporation; name
ana appoint such managers, directors, Off
GERS clerks and agents the interest and
convenience or said corpora ton may require
and through its Board OF Directors make
and establish such bylaws, rules and regu-
latlons Tor the proper management and reg
ulatiOn or the affairs Of said corporation a
NAV he necessary, and the same to alter and
change at pleasure, and shall possess all
the rights. powers, and privileges to which
corporations are or may be by any general
law or laws OF this state authorized and |
entitled to possess Said corporation NAV
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 OO-10O (S2J,000.00) Dollars, rep
resented by two hundred and fifty shares
Of one hundred and OO-1OO (S1OOOO) 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
nay issue certificates Of paid-up stock in
payment OF property or goods actually de
ivered to this corporation or for services
actually rendered to IL, or for rights, priv
leges or franchises transferred to IL, the
In each instance to be agreed to
ul and final power TO do so.
All transfers of stock shall be made on
he books OF the corporation and shall be
igned by the stakeholder or by his attor.
ley.
At all elections by or meetings Of the
tockholders each share OF stock, whether
aid for In full or not, shall be entitled to {
ne vote, to be cast either by the person in
lhose name the stock appears on the books !
I this corporation at the time OF the vOt- {
ne, or by his agent or proxy, duly author. 8
zed in writing to that effect. T
The company shall begin operation as /
DON as thirty shares OF the capital stock c
re subscribed for or disposed of. I
Dividends shall be declared on the amount B
ctually credited on the capital stock with. o
ut regard to the amount subscribed for. (
Said capital stock may be increased In {
he manner provided for by the laws of this $
tate. Whenever an increase OF said cap a
al stock shall have been authorized or b
ddltional stock issued, fifteen days writ
N or printed notice shall be given to each
OckhOlder, within which time persons hold
* stock in this corporation shall have the
ght to subscribe for said increased stock s
r additional issue Of stock in proportion s
the number Of shares Of stock then held S
them, and which additional shares shall
2 paid for as the Board OF Directors may
lrect. After the expiration OF said time
lie Board Of Directors may dispose Of the
lares not taken, for the benefit of the com s.
any in such manner and on such terms and C
'nditions as they may think proper. u
ARTICLE vi. s
The business and affairs and corporate n
overs OF this corporation shall be trans. h
tied by board of three directors to be n
imposed Of stockholders thereof, and they h
nd each Of them shall be elected by
ajority OF all the votes cast at a meeting &
be held for that purpose a
As soon after the execution OF this char o
r as practicable, the subscribers hereto II
lall hold a meeting and select those to IN
impose the first Board of Directors OF q
lis corporation and they shall hold Office \
It'll the second Tuesday In May 1912 or
It'll their successors are elected and quail
ed; each subsequent board shall take
eir seats Immediately following their cleo
On, or as soon thereafter as practicable
I'd shall hold their office until their sue
ssors shall have been elected and quail
d.
On the second Tuesday in May, 1912, and VI
lnually thereafter, an election for drec- $
rs by the stockholders shall be held at II
e Office OF the company, after ten days OF
en- given by advertisement appearing three fl
mes In ten days In one OF the daily Eng -
III newspapers published In the City OF
sw Orleans. the first advertisement ap-
airing not less than ten days prior TO the
eeting and the last advertisement appear
g on the day Of the meeting.
Every Board Of Directors shall at Its
st meeting after Its election or as soon 70
GREATER as practicable, elect a president, III
vice-president and a secretary from their CO
m number. pc
A failure to elect directors on the date pa
ration, but the then existing Board OF %
rectors shall continue to hold their Offices,
d another election shall be held as soon hf
ereafter as practicable at a time to be "
ed by the Board Of Directors then in Of
e. whereof five days prior notice shall be