The herald., 1912-10-24
CHARTER
OF "IAN-AMERICAN LAND X LUMBER
COMPANY"
UNITED STATES OF AMERICA. STATE
OF LOUISIANA. PARISH OF OR

UNITED STATES OF AMERICA. STATE
Of LotiSIATA; ARi SB or OR
BE it known, that on this 10Th day of the
month of October, in the year of our Lord
one thousand nine hundred and twelve, and
of the Independence of the United States of
America the one hundred and thirty-seventh,
before me, Philip GcnSler, Jr., n notary pub
lie in and for the parish of Orleans, state of
Louisiana. duly commissioned and qualified,
and In the presence of the witnesses here
matter named and undersigned. personally
came and appeared the several persons
whose names are hereuntO subscribed. all of
the age of majority, who declared that,
awaiting themselves of the provisions of the
laws of this state. relative to the OrganiZa.
tinn nf corporations. they hereby form them
selves into and constitute a corporation for
the objects and purposes. and under the
stipulations. hereinafter set forth. to-wit
ARTICLE l..
The name. style and title of this corpO-
ration shall be the "PAN-AMERICAN LAND
l& LUMBER COMPANY" and under thai
name il shall have and enjoy all the rights,
privileges and immunities granted by law 10
corporations. Ii shall exist for a period of
nincty-nine years from the day and date
hereof il shall have the power and author
ity i'm its corporate name 10 sue and be
sued to make and use a corporate seal. the
same TO break, alter or amend at pleasure (;
to own, hold. receive. purchase. sell, convey,
deliver. mortgage, lease. hypOthecate, and
pledge property, both real and personal, cor
pOreal and incOrpOreal, improved and unim-
proved. 10 OOTrDN anu lena money 10 issue
bonds. notes and other obligations, negOtia-
Bile instruments and other evidences of debt,
the same 10 secure by mortgage or pledge of
the property of the corporation 10 purchase
or otherwise acquire, hold, sell, assign, trans
fer. pledge or otherwise dispose of shares Of
the capital stock of any other corporation
or corporations, and TO issue its obligations
in paynent or exchange therefor, and 10 Sc
cure the same by mortgage. pledge, or any
other way, for the purposes of the business
of its Incorporation 10 purchase or acquire
shares of its own capital stock from surplus
or profits, and shares SO acquired may be
reSOld, unless retired in order to decrease
the capital stock of the company as pro-
vided 10y law TO appoint managers, officers,
agents IN the state of Louisiana and other
states, or elsewhere, as its interests may re-
.quire to establish. alter and amend all rules
and regulations and bylaws for the conduct
and management of its business as may be
necessary and proper.
ARTICLE III.
The domicile OF this corporation shall be
in the city of New Orleans, state of LOuisi-
ana, and all cita tiOn and other legal pro-
cess shall be served upon the president, and
in the absence of the president upon the
yieepresident, and in the absence of both Of
these, upon the secretary reasurer of said
corporation.
ARTICLE III.
The objects and purposes for which this
corporation is organized and the nature of
the business 10 be carried on by ii, are
hereby declared to be
N'Aas ~ - SSbN%"A
and trading generally, as incidents to it's
main business 10 deal in, acquire, buy, sell,
lease, rent, mortgage or hypOthecate, real
estate, both within and without the state of
Louisiana, to improve same, to construct
buildings, roads, streets thereon, or to drain
or otherwise improve the same
To buy and sell at wholesale or retail
timber lumber and other forest products, in
its raw and manufactured form to manufac-
ture the same in any and all forms
TO own, operate. build, lease, acquire or
control such manufactures, mills. dry kilns
and other plants incidental to said business.
in this and other states
To buy, own, lease, acquire. sell or mort
gage timbered and other lands, for the pur-
pose or operating its manufacturing plant
or plants, or for the purpose of acquiring
the stumpage of timber thereon
To construct, buy, lease, own, operate and
acquire tramways and railways, barges,
steamers, schooners, launches and other wa
ter craft, for the purpose of carrying on its
said business, but not as common carriers
ana generally, TO do and perform any and
all things necessary, proper or incidental 70
the operation and carrying on of general real
estate, lumber and manufacturing and saw
mill business.
The caD,to, A AIoii IL ny ~.
hereby fixed at the sum of thirty-five thou
sand dollars (S35,OOO), divided into and
represented by three hundred and fifty (3jOl
shares, each of a par value of one hundredd
dollars (S1O0), payable in cash or its equiv
alent, as follows:
One hundred and fifty Q5O) shares of
stock, and two hundred (2OO)
or common stock.
The preferred stock shall be entitled tn
preference and priority over the common
stock In that 1t shall be entitled to receive
annually from the net earnings of the bust
cent 20 per cent, which shall be cumulative
and which shall be paid before any dividend
Is declared upon common stock, or paid TO
common stock holders. The preferred stock
De Pntflp6 IN no additional ao-.-I
but 1t shall, in the event of Iiaui-
datlon or dissolution of the company, volun-
tary or involuntary, be paid in full, that is.
In par value and interest. out of the assets
OF the company before any such assets can
DE distributed 10 the common stockholders.
Inc company shall have the right. after
tnree years from the issue Of any preferred
stock, and after ninety DAYS notice. either
oy mailing said notice to the last known adj
1ress OF the registered owner of said stock.
Or by publishing notice in a daily newspaper
III New orleans at least once a week for five
weeks, TO redeem any preferred
STOCK az par and accrued interest, and said
STOCK, II so redeemed may be re-issued. No
ice or redemption shall state the time and
pace OF redemption, and at the time stated
for redemption, the amount due NAV he do.
in any bank in the city of New Or.
leans, and thereafter, all liability of the
,ompany on such stock shall cease. The
company snail commence business as soon
as five thousand dollars of stock is sub.
~ " SUI
ARTICLE v,
All the corporate powers of this corpora- |
Ion shall be vested n and exercised by a
BOARD OF three directors, all stockholders of
his corporation.
IL. VI. Thompson, Clinton Thomson and
toward Coumbe shall constitute the first
,oard OF directors, who shall hold Office nm
the second Wednesday In December, 1912. |
,r until their successors shall have been
July elected and qualified. In each year, on
ne second Wednesday in December. the d. |
'ectors shall be elected by ballot Of the |
at the annual meeting called
y mailing to each stakeholder, at his last
inown place Of residence, ten DAYS written
lotice of such meeting. Each stockholder
hall be entitled In person or by proxy TO a
.ote Tor every share owned by him and
landing In his name on the books of the
orporation at the time Of the election or
Their meeting, and all elections shall be
under such rules and regulations as
nay be determined by the board of direc-
Failure to hold an election on the
ate specified shall not dissolve the corpo.
alton, but the directors then In office shall
old their respective Offices until an election
subsequently held after ten days written
Office mailed to the last known place OF
esidence of each stakeholder.
vacancies occurring on said board shall
e nlled by the remaining directors for the