The herald. [volume] (New Orleans, La.) 1905-1953, 1912-10-31
CHARTER
Of LOUISIANA PETROLITHIC CON
STRUCTION COMPANY.
UNITED STATES OF AMERICA, STATE
OF LOUISIANA, PARISH OF ORLEANS

Of LOJ lSlANa, fahlSlt VI OhlEaNS.
Be it 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
TO the organization of corporations, they
have covenanted 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 q cor
poratiOn and body polite in law, for the OBJ
jects and purposes and under the agree
ments and stipulations following, to-wit
ARTICLE 1.
The name and style of this corporation
shall be the Louisiana PetrOlithic COnstruc-
ton Company and under that name il shall
have and enjoy all the rights, advantages
and privileges granted by law to corpora
tions; Ii 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
at pleasure; to hold, receive, purchase, con-
vey, mortgage, hypothecate or pledge prop
-,
notes and other obligations; to have and
employ such managers, directors, officers,
agents and other employees as the interest
and 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 he necessary or expe-
| dent.
ARTICLE II.
The domicile Of said corporation shall be
In the parish of Orleans, state of Louisiana.
| All citation and other legal process shall
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-
ity of both officers, then process shall be
served on the secretary of this company.
ARTICLE III.
| corporation Is organized and the nature of
the business to be carried on by 1t 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, railways,
| 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
i 10 reclaim and improve landed property
10 lay out town lots or suburbs, and to pave
to put down sewer, drainage, water and
gas pipes to cosnect with municipal or 9th.
er plants; to deal In by purchase, sale OIL
lease, 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 gener
ally TO do and engage in any other business
undertaking or enterprise connected with
growing out OF, germsne or incidental &c
any Of the objects and purposes heerir
ABOVE set forth or contemplated by thu,
charter.
ARTICLE ".
The capital stock of this corporation |.
hereby fixed at the sum of one hundred
thousand dollars ($100,000.0O divided int
and represented by one thousand $1,000
shares of the par value of one hundred dol
lars (S1OO.OO) each, which said shares o.
stock shall be paid for In cash or may b,
issued at not less than par for services rem
{ dered to or property or rights actually pur
chased or acquired by the corporation Al
shares OF stock shall be full paid and non
. assessable. No transfer of stock shall b.
Dindlng upon the corporation unless mad
> upon Its books. OF such total authorize,
i capital stock five hundred (5OO) shares
amounting to fifty thousand dollars $50
! 100000 shall be preferred stock. and Nv
: hundred 5000 shares, amounting to AFT
thousand dollars s5O,OO0.00) shall be com
, mon stock.
The holders of the preferred stock shall
be entitled to receive, when and as declare
from the surplus or net profits of the cor
| poration, yearly dividends at the rate o
seven per cent go per annum and n
, more, payable annually on dates to be fixe
( by the bylaws. The dividends on the pre-
! ferred stock shall be cumulative and shal
be payable before any dividends on the CON
e mon stock shall be paid or set apart. S
2 that If any year dividends amounting I
Z seven per cent ga shall not have bee
r paid thereon, the deficiency shall be payabl
: before any dividends shall be paid upon o
set apart for the common stock
: Whenever all cumulative dividends on tn
preferred stock for all previous years sha
r have been declared and shall have becom
! payable and the accrued dividends for ia
current year shall have been declared an
the company shall have paid such cumuls
: tive dividends for previous years and sue
. dividends for the current year or shall hav
D set aside from its surplus or net profits
sum sufficient for the payment thereof tn
: board Of directors may declare dividends o
the common stock, payable then or Their,
r after out Of any remaining surplus or nc
profits.
e In the event Of any liquidation or diss:
e luton or winding UP, whether voluntary O