The herald. [volume] (New Orleans, La.) 1905-1953, 1912-01-04

convenience Of said corporation may require
to make and establish bylaws, rules and
regulations for the proper management ana
regulation Of Its affairs, as may be deemed
necessary and proper, and the same 10
change and alter at pleasure ana TO DO all
other acts and things permitted by law, or
as shall or may be necessary ana proper 70
carry out the objects and purposes or said
Said corporation. unless sooner dissolved,
In accordance with its charter shall exist
and continue for the period of ninety-nine
wears 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.
The objects and purposes for which this |
cornolation Is organized, and the nature OF
the business to be carried on by II, are de
clared 10 be the following, to-wit: To
carry on the business of manufacturing,
buying. selling. pledging, mortgagins or IN
cumbering in any manner the following
named articles. burlap bags, new or second
hand, jutc twineS, burlaps, yarns, ties, TAX,
or hemp twineS, cotton twines. cotton bags,
machinery for its 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; 10 re-
ceiyp 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. ana
to cary on any other business incidental or
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 200 shares
OF the sum of one hundred dollars each,
which said stock shall be paid for in cash
az the time of the subscription. or such In
Stallments rs the board of directors may
name or the same may be issued, at not
less than par in payment or exchange Tor
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 TO the corpora.
ton or other members thereof The stock OF
said corporation may be transferred without
entry thereof on the companyS books, ana
such purchasers shall have valid title
thereto. provided Endorsement OF the sale:
transfer or assignment shall be inscribed
on the back thereof. and the holder or pur-
chaser thereof shall have the right at any
time to cause his name to be Inserted on the
corporations books provided for stockhoId-
ers. and until so done, the liability by this
| corporal ton shall extend to only such re-
corded stakeholder.
This corporation shall commence business
| as soon as three thousand dollars or the
capital stock shall have been subscribed for.
The board CT directors shall have the right
| TO determine how much stock shall be is
sued.
| The corporate powers Of this company
shall he vested in and exercised by board
| Of directors consisting OF three persons. who
shall he the president. who shall also be the
secretary OF said corporation. Vlce-president
and treasurer. Two Of said board shall con
stitute q quorum for the transaction OF busi-
uess. and their decisions shall be valid cor
pOrate acts. The following persons shall
constitute the first board OF directors and
officers: BENJAMIN F. Feitel, president, sec
rotary: Nathan II. Feitel. vice-president
Mrs. Myrtle s. Feitel. treasurer. During
the absence of the president the vicepresi
dent shall act and preside.
| Said board shall continue in office unit
the 1st day of October. 1911, on which dat
and thereafter. annually, a board OF direct
Ors shall be elected on the 1st day of Octo
Der Of each year. unless same should be
1 the next legal day thereafter.
The board OF directors shall send notice b.
r mail to each recorded stakeholder of sue
meetings at their last known address. An
h the board of directors shall appoint one o
4 more stockholders TO preside at such elet
n ton as commissioners. In failure of the a
e tendance of such commissioners or commits
!. sioner. the president shall make an appoin
, ment to fill the vacancy. Any failure frol
, any cause whatever to elect directors n
day named for that purpose shall not di
h solve the corporation. but the directors the
in Office, as well as the officers of said con
e pany, shall hold over until successors al
3 chosen.
a At every election and meeting each stoc
| bnl han no Al each
Of stock registered in his name, and ms
\. After each election the board of directo
3 shall elect from their own number the of
a. GERS OF said company.
n ARTICLE V.
=, &c The board OF directors shall have II
4 power to fill vacancies In their numbt
e caused by death or resignation or Otherwis
from among the stockholders or outside
10 The said board shall have full control
n the property of this company, shall so co
a duct, manage and use the same as In the
discretion. they deem it, and that is co
sistent with the objects Of this company,
the welfare of the same.
The said board Is further authorized
10 frame and adopt such bylaws, rules a
az regulations as the affairs and business
nv the corporation may require, and II m
We deem necessary for the conducting and ms
or agement thereof; provided the same sh
a Y
90 laws of the state, or of the United Stat
The board Is further authorized, witho
N calling on the stockholders for assent,
purchase, buy, sell, pledge or otherwise
quire any interest In any firm company, c
Al poration or individual businesses. with
ay good will thereof for cash or stock In {
re corporation.
81 The said board shall elect or appoint
go foreman and such other officers, agents, G
nv ployees, servants and clerks as 1t may de
~ necessary for the conducting Of the busin
,rd of the corporation, fix their compensate
nd term OF service, with the right to dism
he them at the boards pleasure, and s
var board shall have the right to fix and
ali termine the salaries of the several ONO
red herein provided
~ The said board shall have the right
ON negotiate with banking corporations
q firms or individuals for the issuance to
,ra company of letters of credit or standing,
ne cover whatever purchase the said corpo
re- tion may bargain or make In this coun
va or some foreign country; shall likewise h
ieu the power to negotiate loans In the name
~, this corporation. and issue proper GER
- Gates or notes therefor.
car ARTICLE VI,