The herald. [volume] (New Orleans, La.) 1905-1953, 1912-05-23
CHARTER

CHARTER
OF PEOPLES PRODUCE COMPANY.
STATE OF LOUISIANA, PARISH OF Or
LEANS, CITY OF NEW ORLEANS.
Be 1t known. that on this third day OF the
month OF May, In the year one thousand
nine hundred and twelve, before me, Marx
Mayo BOatner, a notary public, duly com
missiOned and qualified In and for the city
Of New Orleans, parish and state aforesaid
and In the presence OF the witnesses herein
after named and undersigned, personally
came the persons whose names are hereuntO
subscribed, who severally declare that they
do hereby agree and bind themselves and
their successors, to form a corporation for
the objects and purposes and under the terms
and stpulatons contained In the following .
charter:
ARTICLE I.
The name of the corporation hereby form
ed shall be: Peoples Produce Company, with |
its domicile in the City of New Orleans the |
term of its corporate existence shall be
years from the date hereof and
il shall have all the rights, powers and priv |
ilegeS which are now or may hereafter be |
upon like corporations by the laws
of the State of Louisiana, or Of any state or
country in which 1t shall do business. Ser
vice of citation and other legal process shall |
be made on the president, or in his absence
on the yice-pres!dent.
ARTICLE II.
The objects and purposes for which this
corporation Is established. and the nature
of the business to be carried on by Ii are de-
clared to be to conduct within the state of
Louisiana or elsewhere. a general merchan-
disc and produce business; TO buy, sell and
receive, on consignment and otherwise, deal
In all sorts of produce, fruit and other COM
modities OF all sorts.
ARTICLE III.
The capital stock of this corporation shall
be fifty thousand (S50,O0O) dollars, divided
into five hundred shares Of one hundred dol
lars (S1000O) each. Said stock shall be
paid for In cash. when issued, or in such In
stallmenIs, payable at such times as the
board of directors may direct, or 1t may be
issued by the direction of the said board, at
no less than par, for property or services ac-
tually received by said corporation. The
said stock may be increased or diminished
according to law. No stock certificate shall
be issued until the stock represented thereby
shall have been fully paid for, and no trans
fer shall bind the corporation unless and I'M
til recorded on its books.
ARTICLE ".
The powers of this corporation shall be
vested In and exercised by a board Of d.
rectors, composed, until otherwise provided,
as hereinafter set out, of three stockholders,
but the said board may, by law or resolution,
increase or decrease the membership of the
said board. After the second Tuesday of
January, 1915, the said directors shall be
elected annually on the first Tuesday Of jan
uary of each year. Such election shall be by
ballot and shall be conducted at the office
Of the corporation, under the supervision of
two commissioners to be appointed by the
board of which election notice shall be
mailed to each stakeholder not more than
twenty, nor less than ten days, prior to the
date of election. Each share of stock shall
be entitled to one vote to be cast either In
person or by written proxy and the major
ity of the votes cast shall elect. Any vacan-
cies occurring among the directors by death,
resignation, Increase of membership of the
board, or otherwise, shall be filled for the
remainder of the term by the other directors.
Failure to elect directors or ttfficers shall
not dissolve or affect the corpora ton, but
the directors and officers then in office shall
hold over until their successors shall be
elected. At its first meeting after election,
the Board of Directors shall elect from
among their number, the following officers ::
one to be president, another to be vice-presi-
dent and third to be secretary-treasure
and general manager. The said board shall
have power to make and establish and from
time to time, amend any and all bylaws,
rules and regulations for the control of the
business and affairs Of this corporation. 1t
shall have power to borrow money. receive
mortgages and pledges, issue bonds. notes
and other obligations, and generany all other
the carrying on OF the business of the cor
poration, without the necessity for refer
| ence to, or consent or ratification by the
stockholders hereof. Until the first Tues
day OF January, 1915, the following shall
| compose the Board of Directors /. B. Hak-
enjos. Thomas Sweeny and John A. Hillery,
| of whom L. B. Hakenjos shall be president,
Thomas Sweeny shall be vice-president and
m hQl ho trao
and general manager.
ARTICLE V.
This charter may he amended or the cor
pora ton be dissolved by vote Of three-fourths
of the capital stock of said corporation, re-
presented at any general meeting of the
stockholders, or at a special meeting there
| OF convened after fifteen days notice, pub
| lished three times In one Of the daily news
papers OF New Orleans, and on the disso-
| luton OF this corporation, the same shall be
| liquidated by its Board of Directors at that
| time in office. Said corpora ION NAV be dis
solved at any time. without publication or
notice, by the unanimous consent Of all the
stockholders.
No stakeholder shall ever be held liable
| for any of the contracts, debts or faults of
| this corporation In any further sum than the
unpaid balance due on shares of stock owned
| by him, nor shall any mere informality in
organization have the effect of rendering this
charter null, or of exposing any stockholder
TO any liability beyond the amount remain
| ing due on his stock.
ARTICLE VI
This corporation shall commence doing
business and become going concern as soon
as three thousand dollars (S3, 900. OO) of its
capital stock shall have been subscribed for.
In order to organize the said corporation
and to stand and serve as the original sub
scription list thereof, the undersigned hereby
severally subscribe to the number of shares
OF its stock set after their respective names
Thus done and passed, In my Office at the
city OF New Orleans, on the day, month and
year herein first above written, in the pres
enee of Andrew NJ. Buchanan and L. Earle
Bellande. competent witnesses, here residing.
who sign their names, together with said
appearers and me, Notary, after reading of
the whole.
NAMES OF SUBSCRIBERS OMITTED
witnesses: A. NJ. Buchanan, L Earle Bel
lande.
NJ. NJ BOATNER, Notary Public
Recorded In the Mortgage Office book No
1865, folio =. New Orleans La, May 8,
1872 -
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