The herald. [volume] (New Orleans, La.) 1905-1953, 1911-12-28

convenience or said corporation may require :;
TO make and establish bylaws, rules and
regulations for the proper management and
regulation of its affairs, as may be deemed
necessary and proper and the same TO
change and alter at pleasure; and to do all
other acts and things permitted by law, or
as shall or may be necessary and proper to
carry out the objects and purposes of said
corporation.
Said corporation, unless sooner dissolved
in accordance with its charter. shall exist
and continue for the period of ninety nine
years after the date hereof:
The president, or In his absence the vice
president. shall be the proper person upon
whom citation or other legal process shall
be served.
ARTICLE II.
The objects and purposes for which this
corporation is organized. and the nature Of
the business to he carried on by ii. are de
clared 10 be the following. tO-wit: To
carry on the business of manufacturing
buying. selling. pledging. mortgaging or in
cumheT:ng in any manner the following
named articles. burlap bags, new or second
hand, Jute twineS. burlaps, yarns, ties flax
or hemp twineS cotton twincS, cotton bags
machinery for lis purposes: to act as
agents for other parties, firms or corpora
lions for one or any Of the articles set
forth in its purposes and objects; TO re-
ceive, etc, on commission and to sell the
same; and generally to hold and exercise all
such incidental powers and privileges rela-
tive TO the object heretofore set forth. and
pertaining TO its purposes.
ARTICLE III.
The capital stock Of said corporation shall
be two hundred and fifty thousand dollars
divided into and represented by $500 shares
Of the sum of one hundred dollars each,
which said stock shall be- paid for in cash
at the time of the subscription. or such in
stallmentS as the board of directors may
name, or the same may be issued, at not
less than par, in payment or exchange for
property rights or rights actually received
or purchased by said corporation, or the
same may be issued. full paid. for money
advanced and for such other valuable con-
siderations or services as the board of di-
rectOrS of said corporation may determine
provided. that no stock shall he issued until
the consideration therefor has been received
by the said corporation further, stock may
he Issued. not less than par. for the pur-
poses and consideration of acquiring title
and good wills to any into any firm, com
pany corporation or individuals. in further
ance of the purposes OF this corporation.
ANY stakeholder may assign or transfer.
sell or pledge his stock in this corporation,
without first offering same 10 the corpora
tiOn or other members thereof The stock of
said corporation may be transferred without
entry thereof on the company's books. and
such purchasers shall have a valid title
thereto, provided Endorsement of the sale
transfer or assignment shall be inscribed
on the back thereof. and the holder or pur-
time TO cause his name to he inserted on the
books provided for stOckhOld-
erS, and until so done, the liability by this
corporation shall extend to only such re-
corded stakeholder
This corporation shall commence business
aS soon as three thousand dollars OF the
capital stock shall have been subscribed for.
The board OF directors shall have the right
10 determine how much stock shall be is
sued.
ARTICLE ".
The corporate powers OF this company
shall be vested in and exercised by a board
Of directors consisting OF three persons who
shall be the president. who shall also he the
secretary OF said corporation, vice president
and treasurer. Two OF said board shall con-
Stitute quorum for the transaction of bust
ness. and their decisions shall be valid cor
porate acts The following persons shall
constitute the first board Of directors and
officers: BENJAMIN +. Feitel, president. sec
rotary: Nathan II. Feitel. vice president
Mrs. Myrtle $. Feitel. treasurer During
the absence of the president the vice-presi-
dent shall act and preside
Said board shall continue In office until
the LIST day OF October. 1911. on which date
and thereafter. annually. a board Of direct
ors shall be elected on the list day of Octo-
Der or each year, unless same should he a
holiday, when the election shall be held on
the next legal day thereafter.
The board Of directors shall send notice by
mail to each recorded stakeholder of such
meetings at their last known address And
the board of directors shall appoint one or,
more stockhol ders TO preside at such cleo
ton as commissioners. In failure Of the at
tendance OF such commissioners or commits
siOner. the president shall make an appoint
ment to fill the vacancy. ANY failure from
any cause whatever to elect directors the
day named for that purpose shall not dis
solve the corporation. but the directors then
In office as well as the officers OF said COM
pany, shall hold over until successors are
chosen.
At every election and meeting each stock
holder shall be entitled to vote each share
Of stock registered in his name, and NAV
vote by proxy
After each election the board of directors
shall elect from their own number the OFF,
GERS Of said company.
ARTICLE V.
The board Of directors shall have full
power to fill vacancies in their number
caused by death or resignation or otherwise
from among the stockholders or outside of
the corporate
The said board shall have full control Of
the property of this company, shall so con-
duct, manage and use the same as In their
discretion. they deem fit. and that is con-
sistent with the objects of this company, or
the welfare of the same.
The said board Is further authorized to
frame and adopt such bylaws, rules and
regulations as the affairs and business Of
the corporation may require, and 1t may
deem necessary for the conducting and man.
agement thereof; provided the same shall
not conflict with this charter. or with the
laws Of the state, or Of the United States
The board is further authorized, without
calling on the stockholders for assent, to
purchase, buy, sell, pledge or otherwise ac-
quire any interest in any firm company, cor
poration or individual businesses. with the
good will thereof for cash or stock in this
corporation.
The said board shall elect or appoint
foreman and such other officers, agents. en-
MI re md oil H.
necessary for the conducting of the business
of the corporation. fix their compensation,
term of service. with the right to dismiss
them at the boards pleasure, and said
board shall have the right to fix and de-
termine the salaries of the several officers
herein provided.
The said board shall have the right to
negotiate with banking corporations or
firms or individuals for the issuance to the
company of letters of credit or standing to
cover whatever purchase the said corpora