The herald. [volume] (New Orleans, La.) 1905-1953, 1912-01-18
ARTICLE III.


The objects and purposes of this corpora.
ton shall be to buy, manufacture, sell and
PIGMENTS, and especially hoes to make in
ventions and improvements Of all kinds OF
farming tools and implements and to obtain
patents therefor and to acquire patents from
others; to buy, acquire, sell and dispose OF
patent rights; to acquiret the patent right.
and other assets of the present corporation
known as John Reilly Hoe Company, Limit
ed and to do and perform any and al
things incidental or convenient TO said bust
ness.
ARTICLE III.
The capital stock Or this corporation Il
hereby fixed at forty-fve thousand ant
00-10O dollars. divided into four hundred
and fifty shares Of one hundred and Oo-lo'
for in cash or its equivalent and when Is
! sued shall be issued fully paid and non-as
sessable. Three hundred and ninety-hv
thousand and FIVE hundred and OO-1O0 dol
| lars shall be denominated common stock,
and fifty-five shares of said stock, repre-
senting FIVE thousand five hundred AM
OO-1OO dollars shall be denominated ''pre
| ferred stock
Said preferred stock shall have a pref
erence and priority over the common
stock in the assets Of this corporation an,
shall be entitled to an annual dividend from
| the date of its issuance Of eight per cen
upon the par value Of same, which dividen
shall be cumulative and shall be paid Il
preference to any dividend on the CON ,S
| earnings Of the corporation justify a div
dend exceeding eight per cent upon the en-
| tire capital stock, said dividends shall
| TO the amount of their holdings irrespectiy
/ of the class of stock held by each. In IN
| event of liquidation or of the disposal OF tn
assets of the corporation, the holders Q
/ cka hal In mi ha m
value of the same together with the div
| dends above provided before any paymen
is made on the common stock"
ARTICLE ".
The officers Of this corporation shall cor
| sist Of a president, vice president and
| secretary-treasurer who shall be elected
bers. The board of directors shall consist G
seven stockholders, four of whom shall col
stitute a quorum for the transaction
business, and all corporate powers shall
vested In and exercised by said board. tn
first officers and the first board Of director
shall be as follows: William b. Rel.
president; Henry z. Chambers, vice pres
dent George F. Baker, secretary treasure
and John B. Reilly. Jacob Aron, William
Burkenroad and Joseph +. Ransdell. The
shall serve until the second Tuesday
June, 1912. or until their successors al
elected, and said board shall be elected al
nually on the second Tuesday in June
each year or as soon thereafter as possib
at a stockholders meeting convened for tn;
purpose, due notice Of which shall be give
to each stakeholder In writing mailed or
livered In person to his last known addres
Each share of stock snaI. be entitled TO OF
vote, to be cast by the stakeholder in perso
or by proxy and a majority of the stot
present or represented shall elect.
i ARTICLE V.
This act of Incorporation may be change
altered or amended, or the corporation ms
be dissolved with the assent OF three-fourtl
| Of the total stock at a special meeting ca
I ed for that purpose and after its objec
| shall have been made known by thirty day
| previous notice in writing, delivered or ma
| ed to each stakeholder. Whenever this CO
J poration is dissolved its a1airs shall be
duidated by two commissioners appoint
} from the stockholders by the board Of dire
tors.
ARTICLE vi.
No stakeholder shall ever be held liat
or responsible for. the contracts or faults
this corporation, nor shall any mere info
, mality In organization have the eject
: rendering this charter null or OF exposing
} stockholder to any liability. No note
; other obligation shall be binding on tn
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