The herald. [volume] (New Orleans, La.) 1905-1953, 1912-11-07
CHARTER
OF LOUISIANA PETROLITHIC con
STRUCTION COMPANY.
UNITED STATES OF AMERICA. STAT
OF LOUISIANA. PARISH OF ORLEANS

I n
OF LOUISIANA. PARISH OF ORLEANS.
BE II known. that on this first day OF
the month OF October. in the year of our
Lord, one thousand nine hundred and twelve,
before me, Lewis ROSsner Graham, a notary
public, duly commissioned and qualified in
and for the parish OF Orleans, therein re-
siding, and in the presence Of the witnesses
hereinafter named and undersigned. per
Sonally came and appeared the persons
whose names are hereuntO subscribed, who
declared that, availing themselves Of the
provisions OF the laws OF this state relative
10 the organization of corporations, they
have coyenanted and agreed. and do, by
these presents covenant and agree, bind.
form and constitute themselves, as well as
such other persons as may hereafter Join
or become associated with them, into a cor.
poratiOn and body polite in law, for the OBJ
Jects and purposes and under the agree
ments and stipulations following, tO-wit:
ARTICLE /.
The name and style OF this corporation
shalllbe the Louisiana Petrolithic Construc-
ton Company and under that name ii shall
have and enjoy all the rights, advantages
and privileges granted by law to corpora
tions IL shall exist for a period of ninety
nine years from the date hereof; shall have
power TO contract, sue and be sued under
its corporate name; to make and use a cor
porate seal, and the same to break or alter
al pleasure; to hold, receive, purchase. con
Sess mOTlSdSe, nypOtlecate or pledge DrUD-
erty, real, personal or mixed to issue bonds,
notes and other obligations; TO have and
employ such managers, directors, officers,
agents and other employees as the interest
ana convenience OF said corporation may re-
quire or demand; to make and establish
such bylaws, rules and regulations for the
corporate management and control of the
corporation as may be necessary or expe.
dent.
ARTICLE II.
The domicile OF said corporation shall be
In the parish Of Orleans, state Of Louisiana.
be served on the president, and in his alb
sence on the vice-president of the corpora.
ton. In the case Of the absence or inabil-
lily of both officers, then process shall be
served on the secretary of this company.
ARTICLE III.
The objects and purposes for which this
corporation Is organized and the nature of
the business TO be carried on by IL are here
by declared to be:
To do general paving, levee, roadway
and street construction business to build
construct and erect for other persons dams,
reservoirs, canals. bitches, bridges raflways
railroads, tramways, water craft, work.
shops and mechanical plants, and all char
acter or general construction work to buy.
sell, lease or otherwise deal In all machin-
cry useful or appurtlnent to said purposes :
10 reclaim and improve landed property !:
10 lay out town lots or suburbs, and to pave
ana lay out streets, sidewalks and alleys !;
10 put down sewer, drainage water and
gas pipes to cosnect with municipal or 9th
er plants; to deal In by purchase. sale or
tease, on royalty or otherwise all patents
or patent rights, and particularly all the
patents used In or useful to what Is known
as the petrolithic construction, and gensr.
any 10 DO and engage In any other business
Undertaking or enterprise connected with.
growing out OF, germane or Incidental to
q nd
above set forth or contemplated BY this
charter. - ~
ARTICLE Nv.
The capital stock Of this corporation IL
hereby fixed at the sum of one hundred
thousand dollars (S100, O0o.O0) divided into
shares of the par value of one hundred dol.
lars (S1OO.OO) each, which said shares OF
stock shall be paid for in cash or NAV be
issued at not less than par for services rem
chased or acquired by the Corporation. All
shares OF stock shall be full paid and non
assessable. No transfer of stock shall be
oinding upon the corporation unless made
capital stock five hundred (5OO) shares.
amounting to fifty thousand dollars $50,
OOO.OO) shall be preferred stock, and Eve
hundred t5OO) shares, amounting to hfty
mon stock.
The holders Of the preferred stock shall
be entitled to receive, when and as declared
rom the surplus or net profits Of the COR
poration. yearly dividends at the rate of
seven per cent 79o) per annum and no
more, payable annually on dates to be 0xed
by the bylaws. The dividends on the pre-
ferred stock shall be cumulative and shall
be payable before any dividends on the com
mon stock shall be paid or set apart. So
that II any year dividends amounting to
seven per cent (1%D shall not have been
paid thereon: the deficiency shall be payable
before any dividends shall be paid upon or
set apart for the common stock
Whenever all cumulative dividends ON the
preferred stock for all previous years shall
nave been declared and shall have become
payable and the accrued dividends for the
current year shall have been declared and
the company shall have paid such cumula-
tive dividends for previous years and such
dividends for the current year or shall have
set aside from its surplus or net profits a
sum sufficient for the payment thereof, the
board Of directors may declare dividends on
the common stock, payable then or there
after out Of any remaining surplus or net
profits.
In the event Of any liquidation or disso-
luton or winding up, whether voluntary or