The herald. [volume] (New Orleans, La.) 1905-1953, 1911-09-14
ARTICLE III.

The objects and purposes for which thi
corporation Is organized, and the nature o.
the business TO be carried on by it Jar,
and exporting of pitch-pine timber and lum
Der, hardwoods, cooperage stock and Gal
slaves TO buy and sell timber and timbereC
lands; 10 manufacture, buy and sell lumber
and slaves in all its varieties; and gener
ally to do and perform any act or thine
that may pertain to the purposes above sci
forth or TO promote the interests Of the cor
poration.
| ARTICLE Ill.
The capital stock of this corporation Is
| hereby fixed at the sum of fifty thousand
| (SjOOOO)- dollars; the said capital stock
shall be divided into two classes, to-wit
| preferred and common stock The amount
| Of the said preferred stock shall be twenty
five thousand dollars, divided into twenty
! ive hundred shares of the par value of ten
dollars each. The amount of the common
| stock Is hereby fixed at the sum of twenty
live thousand dollars, to be divided into
| twenty-five hundred shares of the par value
! of ten dollars each.
Upon the preferred stock dividends shall,
from time TO time, be paid at the rate Of
seven per cent. per annum out of the net
income of the corporation the same may
be determined by the board of directors.
If the income OF the corporation applicable
to dividends on said stock shall not in the
icient TO pay said dividend of seven per
cent. per annum, as aforesaid, such dfvi-
dends, or so much thereof shall remain
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 here
in provided for and the common stock shall
De entitled to elect the remaining directors.
In the event OF the liquidation of the cor
pOratioD for any cause, the preferred stock
snail have a prior lien on the assets OF the
corporation up to and until IL shall have
received the par value of the said stock.
Any excess shall then be given to the COM
mon stock until its par value shall have
been paid land anything remaining shall be
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-
termine.
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 eacn of the said stock shall be kept, and
the two classes shall not be mingled
This corporation shall become a going
concern, and shall be authorized to COM
mence business so soon as three thousand
dollars of its capital stock, either common
or preferred, shall have been subscribed for.
ARTICLE ".
All the corporate powers of this corpora
ton, and the management and control Of its
affairs shall be vested in, and exercised by, |
a board of directors composed of three
stockholders, majority OF whom snail con- !
mn M n nln Rf af a
business. The directors shall be elected |
annually by the stockholders, at a meeting |
TO be held on the third Tuesday in October |
of each year. Each stakeholder shall be en- |
Titled, In person or by proxy, to vote for |
every share owned by him, and all elections |
shall be held under such rules and regula-
tons 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 and have |
qualified. No failure to elect shall be re-
garded as forfeiture OF this charter. Any
vacancy occurring on said board shall be
Tiled by the remaining directors for the IN
expired term. The board Of directors shall,
at its first meeting after its election, nomi-
nate out OF Its number, president, vice
president and a secretaryfreasurer. Said
board shall have the right to unite any Of
the two above mentioned positions into one,
DR. may segregate the position of secretary
treasurer and elect secretary who need
lot De either director or a stakeholder,
ST.
and other employees of the corpo,
ration as the interest and business of the
same may Justify. Any of the directors
'nalI nave the right to appoint, by written
% act as his proxy and in his stead at any
md all meetings Of the board of directors.
ARTICLE v. -----'--A-
q s2Issl<s
No stoekholder shall ever be held liable
=, ,aht responsiDie Tor the contracts, faults or
mere informality in its organization have
ne effect Of rendering this charter void. or
u exposing stakeholder to any liability
hares owned by him. .
ARTICLE vi.
This act Of Incorporation may be changed. I
nodlned, or altered or this cornoraf io5
nay be dissolved, with the assent of The
tockholders owning three-fourths of the s
LOCK OF the corporation, present or renre- | I
s at general meeting convened for q
nat purpose, and after at. least fen davs,
written notice shall have been given throngb /
ne mail to each stakeholder at his last
nown place Of residence. In case OF disco.
a ,Sn Dy the expiration of this charter or
therwise, the stockholders shall elect three ,
from among their numher 70 !
ettle the business and affairs of this com. 7
any. In case Of the death or disabiI,tv of ]
~ vne Vi sdiu commissioners or liouidat- | +
RS the survivors shall appoint a Successor :
ARTICLE VII.
/, Immediately after the signing of this !
naTter the stockholders shall meet and
lect three directors who shall serve until q
ne election to be held in October. 1912 '
= nus zone and passed in my Office on tho | .
ay' montn and year, first above written In 4
le presence OF Frank B. Twomey and To. n
I'm 4. weiss, competent witnesses who n
ave signed with the appeares and me tbe | \
otary, after reading the whole.
lOriginal signed) S. ]. Sutherland 900 S
lares; w. e. Campbell, shares. + uow
ton smith, l share. (Wftpessesl d ]
womey, j. L. Weiss d. L
A. ID. DANzIGER, Not. Pub.
Felix ]. Dreyfous, another no.
tary puoiic, now absent on leave II
- the undersigned recorder of morto. ,as q
ana Tor the parish of Orleans STATE 81 =
'gisiana, DO hereby certify that the ahove .,
"a foregoing act of Incorporation of tbe
imperial export Company was this dav
w recorded In my office, in book -
New Orleans, Sept. II. 1911 :,
tSigned EMrLE LnoNARD. d. r =