The herald. [volume] (New Orleans, La.) 1905-1953, 1912-12-19
ARTICLE ".

The capital stock of this corporation is
! hereby fixed at the sum OF one hundred
| thousand dollars tS10O000. 0OD. divided into
/ and represented by one thousand shares of
| the par value OF one hundred dollars
| t$lO0.OU) per share. This company shall
have the right TO commence business and bc
a going concern when three thousand dollars
| (S3.Ouu.0OD of the capital stock shall have
| been subscribed for All stock subscribed
! Tor shall he paid for in cash or property re
celved or labor done al such time and upOn
such terms and conditions aS the board of
directors shall prescribe. No transfer Of
stock shall be admitted or held 10 bc valid
or binding so far as the company is con
cerned unless made on the books of the
company. No sale or pledge of stock shall
Ice valid unless said sale or pledge is accom-
panied 10y written certificate signed by the
president and Secretary-treaSurcr of the com
pany 10 the effect that said stock was Of
fered To the remaining stockholders through
the board of directors al its book value for
a period OF ten days, and they had failed or
declined To PURCHASE same.
Stock sold or pledged in C0ntraventiOn TO
| ms provision shall become the property of
the stakeholder first rendering to the trans
ferree or pledge its book value
ARTICLE V.
All the powers of this corporation shall
be vested in and the business and affairs
shall lie managed by board OF directors
consisting of three directors, who shall De
elected annually at meeting of the stock
holders on the first Monday Of October OF
each year, except the first board Of dircC-
tors named in this charter, who shall hold
Office until the first Monday Of October. 1914.
All elections shall he held by ballot at the
office OF the company unGcr the supervision
Of two commissioners TO be appointed by the
board of directors. Notice Of such meeting
shall De- given 10y the Secretary-t treasurer i'm
writing, delivered Ia each StockhOldcr in
person, or mailed TO his last known address
at least ten days prior to such election. but
this notice may be waived by all the stock
holders.
At all such elections and at all meetings
of the stockholders every stockholder shall
be entitled 10 one vote for each share OF
stock standing in his name on the books OF
the company at the date Of said election or
meeting: said votes to lie east in person or
by written proxy, and majority of the
votes shall elect.
The failure to elect directors at the an
nual meeting shall not dissolve or affect the
corporation nor impair its nagement in
any respect; bur the directors in office shall
remain in Office until their SUCCESSORS are
elected and qualified.
The board Of directors shall elect as soon
as possible after their own election and
from their own number president. Il vice
president and Secrctary-treaSurcr. and
may grant TO each officer such power as they
deem proper.
All vacancies in the board for whatever
cause shall be filed 10y the remaining dircc-
tors. Any member OF the board NAV an
point any other director his proxy to act in
his place and stead at any meeting of the
board.
ARTICLE VI.
This act of Incorporation may be modi-
fed. changed or altered, or said corporation
may he dissolved with the assent Of three
f0urthS of the capital stock outstanding at
a meeting of the stockholders convened for
that purpose and after ten days notice has
been given by registered letter mailed to the
last known address OF each stakeholder. The
said notice may be waived by the unanimous
consent Of all the stockholders.
In case of the dissolution of the corpora
ton It's affairs shall be liquidated by the di-
rectors in Office at the date Of the diSSOlu- |
ton.
ARTICLE VII
No stakeholder shall ever he held liable |
for the faults or contracts Of said corpora
tiOn in any further sum than the unpaid |
balance due TO the corporation on the shares |
owned by him. nor shall any mere Informal !
ity have the effect of rendering the charter |
null, or exposing any stakeholder to any
liability beyond the unpaid balance due on |
his stock.
ARTICLE VIII.
The first board of directors shall consist |
Of Emile 4. Rainod. who shall be its first !
president: Ernest Roger. who shall be its |
first vice-president, and Frank F.. Rainod |
who shall be its secretary-treasurer.
The subscribers hereto have respectively |
written opposite their name the amount of |
stock subscribed by them in this corporation. |
so that this act of Incorporation may also |
serve as the original subscription list of the |
Thus done and passed at my office in the |
city of New Orleans, state of Louisiana, on |
the day, month and year herein first above |
written. in the presence Of Rosa Klar and |
Benjamin Y. Wolf, competent witnesses Of |
the age Of majority and residents OF this |
city, who hereunto sign their names with |