The herald. [volume] (New Orleans, La.) 1905-1953, 1912-10-17
CHARTER
CHARTER
OF LOUISIANA PETROLITHIC CON
STRUCTION COMPANY.

I
sonally came and appeared the person
whose names are hereuntO subscribed VIII,
| declared that, availing themselves OF tn
provisions of the laws of this state relatiy,
! 10 the organization of corporations thel
| have covenanted and agreed, and do, bl
| these presents covenant and agree bind
| form and constitute themselves, as well a.
such other persons as may hereafter join
or become associated with them. into a cor
poratlOn and body polite in law. for the oh
| jects and purposes and under the agree
ments and StipulatiOns following to-wit:
ARTICLE |.
The name and style of this corporation
| shall be the Louisiana Petrolithic COnstruc
tion Company and under that name it shal
nave and enjoy all the rights. advantage.
and privileges granted by law to CORPORA
lions; II shall exist for period Of ninety
nine years from the date hereof shall hay,
power To contract, sue and be sued under
It's corporate name: to make and use "A cor
pOrate seal. and the same to break or alter
AT pleasure; to hold, receive purchase con
NeE' mortgage hypOthecate or pledge prop
cry, 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-.
quife or demand: to make and establish
Such bylaws, rules and regulations for the
corporate management and control Of The
dent.
The domicilr of said corporation shall Ia
in the parish Of Orleans. state of Iou'siana
All CITATION and other legal process shall
he served on the president, and in his nh.
s st on the yice-prcsident of the corpora
ton. In the case of the absence or inaLii
lily Of both officers. then process shall a.,
served on the secretary of this comDany
ARTICLE Ill
Inc OBJECTS and purposes for which this
.prPpIatloh Is organized and the nature of
40 nprin
by declared To be '''
10 do general paving levee roadwa y
anu street construction business. Ia buiIi
cohstruct ana erect for other persons dams
IeSStrNoirS' canals, bitches, bridges RAILWAYS
railroads, tramways. water craft woTk
shops ana mechanical plants and all char
dclef or general construction work IN huv
sell ledSe or otherwise deal in all macbin.
er! usetul or appurtinent TO said purposes :.
10 reclaim and improve landed Dronartv !,
10 iay out town lots or suburbs. and 70 nave
ana lay out streets. sidewalks and alleys !.
10 pun down sewer, drainage. water and
SdS pipes 10 cOSnect with municipal or 9th
er plants: 10 deal in by purchase sale or
tease on royalty or otherwise all DatentS
or patent rights, and particularly an tho
patents used In or useful TO what is known
as tne petrOllthic construction and pener
ally TO do and engage in any Other buSjnsi,
or enterprise connected with
growing out OF germane or Incidental to
any OF the objects and purposes hperin
charter. W '"i>
ARTICLE ".
Inc capital stock of this corporation Il
hereDy hxed AT the sum OF one hundred
a ano, sioIlars tSlOO.00000D divided into
ana represented by one thousand ,IOO0
shares OF the par value of one hundred doI
lars tNloo.oOI each, which said shares NJ
STOCK snail be paid for in cash or may no
sannS AT not less than par for services rem
dered TO or property or rights actnaIIv nu-
cnased or acquired by the Corporation An
snares or stock shall be full paid and non.
a sessaole No transfer of stock shall ho
',,inn upon the corporation unless made
upon Its books. OF such total ontborjzaS
capital stock five hundred C5O0I Shares
amounting TO fifty thousand dollars $50
poo.Vo) shall be preferred stock. and i've
theu tooO) shares, amounting 10 fftv
mon stock. F''''V' shdIl De COM
me holders of the preferred stock shall
- r"ti ~ 10 receive, when and as declared
Ie surplus or net profits of the cor
seven no. !ear,y dividends at the rate of
iIore, payable annually on dates IN ha a.
~ the bylaws. The dividends on tba n ,A.
-s e'T na, STOCK shall be cumulative and shan
y payable before any dividends on tho nnai
non stock shall be paid or 80, an ane COM
mat II any year dividends am0unting ~
,eisn per cent t1qS) shall not have 6aaO |
,a t theroen; the deficiency shall be navabIa
yet anart "a uit wa. shall be paid upon or
whenever all cumulative dividends an Al.
, eIIeu STOCK Tor all previous wears shall
a. peen declared and shall have baconn
,nyrant anu tne accrued dividends for tbe
- cut year snail have been declared ana
ne He company shall have paid sucb cnmni'
III Wv luenus Tor previous years and sucb
20, iueHds Tor the current year or shall bsy1
INN, s'ts from us surplus or net profirs a |
80, ~ Tor the payment thereof tho
,oard OF directors may declare dividsn5; 'ns
He common stock, payable then or thoua
Ia, ,r OUT Oh any remaining surplus or nct
In the event Of any Humiliation ii,
ution or winding IN whatbar ,ni OF ulsso-
~ ~ ,, OF the corporation the boId
rs OF the preferred stock shall he entitIos
bair pau ID tull both the par amount OF
rued thereon before any amomnt Illus, ac-
'a su tne holders of the common stocI
,nus the payment to the holders Of III
., ,Gi ~ STOCK OF its par value and the mn
NJ assets an dd'tuends thereon, the remain
assets ana funds shall be divided and
'aau 10 the holders of the common stnnI
oIorulng to their respective shares SWIM
every election to be held Inv tho cor
70 ant,,,a eacn snare OF common stock shall
~ enttied TO one vote TO be cast NV H.
WEI tnereof in person or by nroxy. ~
ote. ' Oe entitled 10 any
an, ARTICLE V
All the corporate powers OF this oor,,o
nan De vested In, and the management any
yarni,. al IT'S business and affairs shall he
teer .led by a board of directors comnoSaS
,av by lol stockholders, which nnmhar
me discretion of the board OF dIrec,OOol
maturity or the board of directors sbaii
~ Stitute quorum for the transaction 20
II business. The directors shall no aiao+o vi
y haiI9, on the 9TH Of October of each wear
aiiot OF the stockholders. Each s 49,
';te snau De entitled, in person or h,.
-oct 1872 aOa!i 10 one vote of each share Of
IN owned by him and standiny in ri
amt on the books of the Corporation %,
n a,o .nirty days preceding such election
nd raa,in., snalI be held under such ruIes
ne BOARD of directors, and after 81 ny
~ uays notice shall have been oivor
non st0cknoider at his last known aSd-oso
MIA or Dy publication In one OF tbe
~ 30 puo.isned In the parish of Orleans
~ at least ten days preceding spcb eIn
on. The directors thus eIectad sbaI, elec- I
nue. IN once for one year. or until ,SoI
icSessors shall have been duly eIactad an s
,am e NO failure to hold an eIectinn !
30 r,or regarded as a forfeiture of This {
,ard OF directors shall be filled Nv The sara
aiming directors for the unexnirad -.
nc. saiu BOARD or directors shall Iikau,isr q
ecu tne additional members in case thS q
.o ahn ue.ermine to increase the said hoard !
moove provided. Said board OF directar G
lail, at Its first meeting. elect from o e
nuoer president, vice-president
~ SeaIy ana treasurer II NAV eonnh;
y iast TWO mentioned Offices and mo-, ne c
,Idar secretary who need not be A stocL- !
% rioh, Sa.d BOARD OF directors shall have :
erks. managers and other emnloves ns as .
y ~ ation, including the Secretary sho :
~ stocknolder, as conditions NAV In a
1 ~ n me business of the corporation ma
owes NJ th,. tenure OF office of all the EN-. n