The herald. [volume] (New Orleans, La.) 1905-1953, 1912-06-06
CHAR Err.
OF II. LACRoIX 4 COMPANY, LIMITED

X. " L,
UNITED STATES OF AMERICA, STATE
OF LOUISIANA, PARISH OF ORLEANS.
BE it known, that on this twentysecOnd
day of May, 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, Pierre ID. Olivier, Notary Pub
lie in and for the State of Louisiana and
Parish of Orleans aforesaid, duly commits
stoned and qualified and in the presence Of
the witnesses hereinafter named and under
signed; personally came and appeared the
several persons whose names are hereuntO
subscribed, who declared TO me- notary, in
the presence of the undersigned witnesses
that, availing Themselves of the provisions
of the laws of the State of Louisiana, they
have mutually agreed and contracted. and
by these presents do agree and contract and
bind and Obligate themselves, their heirs
and assigns and all persons who may here
after become associated with them herein
TO form a corporation and do hereby form
and organize a corporation under the name
and for the objects and purposes and under
the terms, stipulations and provisions con-
tanned in the following articles, to-wit:
ARTICLE |.
The name and title of this corporation
shall be X. Lacroix & Company, Limited
and under its said corporate name II shall
have and enjoy a corporate existence and
succession for twenty years from and after
the date hereof, unless sooner dissolved by
the action of the stockholders in the manner
IL shall have, enjoy and exercise all rights,
powers and privileges hereinafter granted
or that may hereafter be granted by law TO
corporations of this character, with full au-
thority TO contract sue and be sued, plead
and be impleaded, appear, answer and pros
ecute in any and all courts OF justice and
elsewhere; to make and use a corporate seal
and the same TO alter and break at pleasure :
10 acquire, receive and own by purchase,
lease donation, exchange or otherwise, and
to hold, use, enjoy and operate, and to con
vey and sell, lease, mortgage, pledge, hypotn
ecate or otherwise dispose or property, real,
personal and mixed, corporal and incorpo-
real to borrow money and TO issue In evil
dence thereof notes. bonds, debentures or
other securities, and to secure the payment
thereof and any agreements in relation there
TO by hypOthecation of property, real, per-
sonai and mixed TO name, elect and appoint
such directors, officers, managers, attorneys,
clerks and employees as its business inter
ests and convenience may require; and to
make and adopt and at Its pleasure amend
or abrOgate such rules regulations and by-
laws for the proper government or the az
fairs Of the corporation as may be necessary,
proper or convenient.
ARTICLE H.
The domicile of this corporation Is hereby
declared to be in the City of New Orleans,
state of louisiana and all citations or
other legal process shall be served upon lts
president: or, in the event of his death, ao-
sence or inability TO act, upon Its treasurer
or in the event of the death, absence or ina
biIity to act of all the officers of the corpor-
alton. upon such person as the board of d.
rectors may designate as the person 10 re-
ceive service OF process process; TT,
The objects and purposes for which TINS
corporation is organized and the nature or
the business TO be carried on by It are mere
by declared to be- TO buy sell and deai IN ~
cotton. And for any of the above stated
objects to do all and singular the acts emu
merated in Article of this charter.
This corporation shall have the power TO
do business in this state and in any other
state or states of the Union.
ARTICLE ".
The capital stock Of this corporation Is
hereby fixed at the sum of thirty thousand
dollars 1880, OOO), divided into three hundred
(3OO) shares of a par value Of one hundred
dollars (S100) each, Of which said shares
two hundred l2o0l shares ,o a amSunt ting b 10
preferred shares issued upon the terms ana
conditions hereinafter stipulated, and one
hundred (1OO) shares, amounting to ten
thousand dollars (s1O,0OO), shall be common
shares The holders of the preferred shares
shall be entitled to receive In respect OF sucn
preferred shares, as and when declared from
the surplus or net profits OF the company
yearly dividends at the rate OF SIX per cent
i6%5 per annum and no more. payable
semi-annually on the first days OF SEPTEMBER
and March in each year. Said DIVIDENDS
shall be cumulative. At no time shall any
dividend be declared, set apart for or pald
upon the common shares unless at such time
all cumulative dividends on the preferred
shares then due and unpaid shall nave oeen
paid or provided for nor shall any DIVIDEND
at any time be declared on the common STOCK
unless there shall also have been declared
and a sum set aside sufficient for the pay
ment of such dividends as said preferred
shares NAV be entitled to hereunder. On
dissolution or expiration of the charter OF
this corporation the preferred shares. both
as TO any cumulative dividends due and IN
maid and as to distributive shares OF the
assets shall have preference over the com
mon shares and shall be first liquidated at
one hundred dollars (S100) per share, and
cumulative dividends that may then be due
and owing; after the payment OF the par
value of the preferred shares and or sucn
cumulative dividends then due, the common
shares only shall participate In the surplus
The preferred shares shall have full voting
power on all questions save In regard to the
declaration Of dividends or the election OF
directors Common shares shall have full
voting power for all purposes
ARTICLE V.
All powers of this corporation, save the
power to fix and declare dividends, shall De
vested In and exercised by a board OF three
directors each Of whom shall own at least
one share OF the capital stock of this com
pany; said directors shall be elected by bal
lot under the supervision of two CD cleo
tion commissioners appointed by the Board
Of Directors at the annual meeting or the
stockholders Of this company, which annual
meeting shall be on the second Monday OF
August Of each year, the first meeting to be