The herald., 1912-05-02

UNITED STATES OF AMERICA, STATE
OF LOUISIANA, PARISH OF Or
LEANS.
Be 1t known. that on this third day of
April in the year Of our Lord. one thousand
nine hundred and twelve, before me, Am
brOSe G.. IaPice. a notary public duly APP
pointed and qualified in and for the parish
of Orleans, state of Louisiana, and in the
presence OF the undersigned witnesses, per-
sonally came and appeared the several per
sons whose names are hereunto subscribed,
residents OF the parish OF Orleans and OF the
city of New Orleans, who severally declared
that availing themselves of the laws OF this
state in such cases made and provided, they
have formed and organized, and by these
presents do organize themselves into cor
poration and body corporate, for the objects
and purposes, and under the stipulatlons fol
lowing. to-wit:
ARTICLE l.
The name and title Of this corporal ton
shall be GLENMORA NAVAL STORES
COMPANY, and dts domicile shall be in
New Orleans, parish Of Orleans, Louisiana.
1t shall exist for the term Of ninety nine
years from date hereof, and by name shall
sue and be sued and contract and enjoy any
and all rights, privileges and powers under
the laws of the state of louisiana
ARTICLE II.
The objects and purposes for which this
the business TO be carried on by II, are, TO
produce manufacture, buy and sell turpen-
tine, rOsin, naval stores, and wood derlva-
tives and produce OF all kinds TO operate
saw mills and to sell the produce and resi-
due or waste thereof or to further use and
manufacture the same, and to pull stumps
and clear land whether In connection with
such business or apart from 1T; to buy, sell
and lease real estate, to operate tram roads
and barge lines or other vessels, In connec-
tion with the carrying on OF Its business, 70
conduct a general merchandise business IN
connection with said business, and generally
TO engage In any business incident to or con-
yeniently necessary to or connected with the
operation Of the business above mentioned.
ARTICLE I'LL
The president, or in his absence or inabil.
ity to act, the vice-president. or In case OF
his absence or inability, the secretary, shall
be the proper person upon whom all citations
or legal process shall be served.
ARTICLE ".
The capital stock Of this corporation is
hereby fixed at the sum of two hundred and
fifty thousand dollars $3.50, OOO,OO divided
into twenty-five hundred (2,500l shares OF
the par value Of one hundred !Sloo.0O1 dp Oh
Maid for by the subscribers thereto, as shall
be required by the board of directors: and
the stock may be issued In payment or pro
nensation for services rendered. This cor
poration shall be authorized to begin busi-
ness as soon as one hundred tnousand noI,
lars (S1OO, 0OO.00l or more or the capital
stock shall have been subscribed for. ANY
stakeholder may sell, assign, or transfer MS
stock in this corporation, provided thirty
T3OI DAYS prior written notice OF such In
tention to sell, assign or transfer me same
thereof shall have the first privilege OF pur-
chasing the same; after which notice the
said stock may be sold in open market A
prior lien on all shares OF stock snai Pe re,
Shareholder for any indebtedness secured or
unsecured, however evidenced or created, Que
at any time TO the company by the holder OF
such stock And all transfers OF stock shall
be transferred subject to this clause.
ARTICLE v.
All mowers of this corporation shall be
vested in a board of directors composed OF
not less than three 90 stockholders. They
shall be elected on the first Monday OF De
general meeting convened for that purpose,
after ten days previous notice in writing to
each stockholder owning stock standing In
his name on the books OF the corporation;
and until such time the following named
stockholders are hereby named as the first
board Of directors, and who shall hold their
office and exercise their functions until their
successors are elected, VIZ q; f.: Mason f. r.
Mason shall be president. z. N. Pringle
shall be viee-president, and f; Wood shall
be secretary and treasurer. The same per,
son NAV hold the ofices of secretary and
treasurer or each Of such Offices may be held
BY a different person.
The election Of the board of directors
shall be by ballot, and each stakeholder shall
he entitled TO one vote, either in person or
by proxy, for each share Of stock owned by
him. and a majority of the votes cast shall
elect The board Of directors shall, imme-
diately after their election, elect from their
number, a president, a vice-presideDt, Sec
rotary and a treasurer.
The said board Of directors shall elect and
employ any and all employees, managers
and clerks of the corporation they may deem
necessary for the proper conduct of the
business. and may fix their compensation
and remove or dismiss them at pleasure.