The herald. [volume] (New Orleans, La.) 1905-1953, 1912-04-25
ARTICLE III.

seed oil mills ana Otner OH HiIiS vi 800
nature whatsoever, to cut timber anu On
pnge in logging operations, and 10 own saw
mills and operate the same To clear Dram
and reclaim lands of all descriptions 70
buy sell lease and own mules, cattle, Sneep
and stock of every nature; TO buy, sell
lease build. own and operate in connection
with any of the foregoing undertakings. ran
ways, tram-wayS, spurs or SwltcheS, steam
boats tug boats. bargeS ana 0thef wafer
craft and other means OF transportation Oy
land or water that may he deemed expedl-
ent to buy. sell. lease, own ana operate
tplcDhone and telegraph lines: TO conduct,
lease buy and sell warehouses and stores
in connection with any OF the foregoing
operations to borrow money ana secure lH'
same by mortgage. experimentation anu
pledge: to lend money and secure the same
by mortgage. hypOthecation and pledge ana
To issue bonds: and generally to carry on
any business or enterprise that may DE IN,
cidental TO. or convcnicnt IN proper , anu
successful exercise of any OF the powers
conferred upon this company by these ar
ticlcs of Incorporation. not Inconsistent Win
the constitution and laws of this state and
of the United States.
ARTICLE "
The capital stock Of this corporation Is
hereby fixed at the sum of one hundred thou
sand $500, 900 .OOD dollars. divided into and
represented by the following stock, to-wit
1st.-Five hundred shares or preferred
stock Of the par value Of one hundred dol
2nd.-Five hundred shares OF common
| stock Of the par value OF one hundred dol
lars each. .
| The above mentioned preferred stock shall
he preferred in liquidation and preferred in
dividends in the following manner, to-wit:
In the declaration Of all dividends,
dividend up to the amount or eight per
| cent. per annum shall first be declared in
| favor OF the preferred stock. and 1t is here
| by expressly stipulated that said dividend
shall be cumulative.
A no nal a rat n n
| toned dividend all dividends shall be de-
clared at an equal rate on the common
| stock as well as on the preferred stock:
| No shareholder Of this company shall at
any time offer his stock for sale whether
| common stock or preferred stock either pri-
vatey or in the open market without hay-
ing previously offered 70 sell such stock at
| the lowest price which he will accept
| therefor to the other shareholders OF the
| company through the board of directors at
a meeting thereof in the following manner,
| tO-wit:
The board Of directors shall instruct the
| secretary to mail notice TO each share
| holder Of the company. stating the number
Of shares so offered and the price thereof,
| and calling upon each shareholder to signify
| in writing within ten days how much OF
said stock. il any. he desires to purchase al
said price. Should the total number OF
| shares which the various shareholders sig
| such notice exceed the number of shares
offered for SALE the shares offered shall be
| distributed among the prospective purchas
| ers in such proportion as the number OF
| shares that such shareholder signifies he
| desires to purchase bears to the total num-
her Of shares for which there are prospect
| i've purchasers should the number Of shares
offered for sale exceed the total number OF
| shares which the various shareholders sig
nifty their desire to purchase. the oferoI
| shall be at liberty to dispose Of such excess
in such manner as he shall see Mt. provided
| the price he not less than that designated In
his offer 10 the other shareholders.
All subscriptions shall he paid for In
the board of directors shall require.
The corporation shall begin to do bushes:
when twenty-five thousand (S25,OO0.OO) dol
lars of the preferred capital stock shall
have been subscribed for and paid; the re
mainder of the stock shall be issued at sucf
times and on such terms and conditions a!
the board of directors shall determine.
All transfers OF stock shall be made OF
the books of the company, and no transfer
shall he in any way binding on the company
unless and until it is made in the allow
described manner.
Each share Of stock shall entitIe th'
owner thereof, either in person or by proxy
to cast one vote at all meetings of TIL
shareholders.
ARTICLE V.
The officers of this corporation shall be
president, vice-president and secretary
treasurer.
The powers Of this corporation shall b
vested in and exercised by a board or Ill
rectOrs composed of the president, vice
other shareholders any three of whom shal
constitute a quorum for the transaction q
all business.
, The officers and the board OF director
hereinabove provided for shall be electe
annually at a general meeting OF the share
holders to he held on the first Monday 1
May. not a legal holiday in the year 1871:
, and each and every succeeding year there
Z | FLOR off tan hau - N m n
, ed to each shareholders last known address
And such officers and board of director
shall serve until their successors shall hay
been elected and qualified. Special mee
tings of the shareholders may be held a
the request of any three shareholders b
call of the board of directors aften ten day;
notice in writing as above provided, Stain
the object OF such meeting.
Any vacancy in the officers or in til
board of directors from any cause whatsC
ever shall be filled for the unexpred teri
| by the rema lining directors. And any dire
+ tor who may I've absent from the city G
, New Orleans shall have the right to appOin
, any shareholder of the company to vote fO
! him at any meeting of the board Of dire
tors and such proxy shall have and exc
else all the powers of such director appOin
ing him.
The board Of directors shall have powe
without reference to the shareholders of th
company TO buy. sell and lease, to mort ga q
hypOthecate and pledge all kinds of pr
! perty and rights whether movable or in
: movable ana generally to exercise all th
, lpoYers conferred on this company by thes
articles of Incorporation.
ARTICLE VI.
This act of Incorporation may be chan!
ed, altered or amended, or this corpora ito
may be dissolved by vote of three-fourtt
of the capital stock of the company presen
or represented at a general meeting col
vened for that purpose after thirty day
notice in writing mailed TO each shareholC
ers last known address, and after ten day
publication in one Of the daily newspaper
of the city of New Orleans and as prescribe
by law.
But all changes In the amount Of the cay
ital stock of this corporation shall requir
the assent Of two-thirds in amount of til
capital stock at a special meeting convene
: for that purpose after thirty days motto
by publication in one of the daily newsps
pers of the city of New Orleans and afte
forty days notice in writing mailed to eac
shareholder's last known address and a
! prescribed by law.
ARTICLE VII.
. Whenever this corporation Is dissolved b
limitation or otherwise, its affairs shall /
liquidated under the supervision of thrt
; commissioners elected at a general meetin