The herald. [volume] (New Orleans, La.) 1905-1953, 1912-06-06

| Section /. To construct or otherwise &C
quire, buy, purchase, lease, or In any other
manner, and to own, hold, maintain and
| operate, or sell and dispose of irrigation
plants with the necessary buildings, rights,
ways, pumping stations, machinery, canals
and laterals; and plantations, farms and
lands generally, rice mills, paper mills, ware
1 houses, depOts, grain elevators and other
buildings factories and machinery neces-
sary or expedient for the manufacture, stor-
age and preparation for market of rice, or
rice products or by-prOducts thereof, or of
any other cereal, grain or article wherever,
or for the purpose OF any other business IN IN
| Section .. To manufacture, buy, sell and
! generally deal in any or all things or arti-
Giles used in connection with growing, irrl-
| eating, harvesting, warehousing or milling
| rice, or other cereal or grain, or the articles
made therefrOm, or by-products thereof,
which shall include bags pockets, twine, or
any article, receptacle, package or thing,
whether of tin, wood, glass ware or other
material which may be useful in connection
with the manufacture, handling or market
| ing, vending or shipping of the products or
other merchandise, produced, handled
bought or sold by this company
Section 3. To carry on the business OF
| cold storage and warehOuSing, either bonded
or unbonded, public or private, and all bust
| ness necessarily or implicitly incidental
thereto or commonly carried on or under
taken by warehOusemen; to issue certificates
| and warrants negotiable or otherwise to
persons storing goods with this company,
and TO make advances or loans upon the
orally TO qualify and do business as a public
warehOuseman under the laws OF the state
Of Louisiana and carry on and undertake
any other business or businesses not prohib-
tied by law TO this company, which may
from time TO time be conveniently carried
on, or be calculated, directly or indirectly,
10 enhance the value of or render profitable
any of the companys properties or rights.
ARTICLE ".
The capital stock of this corporation,
which shall be fully paid and worcestershire
when issued, is hereby fixed at one hundred
thousand dollars $500, 100000, divided into
and represented by one thousand (1,0OO)
shares of the par value of one hundred dol
lars (SlOOO0I each, which capital stock
may be increased or decreased by proceed
ings taken in the manner provided by law.
for in cash at such times and in such
amounts and after such notice to subscribers
as may be fixed by the board OF directors, or
! the same or any part thereof may be issued
for not less than par, and delivered 10 any
person, firm or corporation In payment Tor
rights, privileges, franchises or other, pro
perry, or for labor done, services rendered,
or property actually received by this cOrpo-
ration. This corporation shall have the
right to begin business when three thou
sand dollars (S3,OO0.OO( of its capital stock
= shall have been subscribed.
ARTICLE V.
I The corporate powers of this corporation
shall be vested in and the business OF same
shall be managed by board OF six directors
to be elected from among the stockholders
Three members of the board of directors
r shall constitute a quorum for the tranSac
4 ton of all business of the company and
( majority vote of any two shall prevail, eX
4 cept as herein otherwise provided; SAID
board of directors shall have power TO ap
I point all agents, clerks and employees anC
e fix their salaries and compensation; they
q shall also have power to make, change, alter
a and modify all proper bylaws, rules anC
4 regulations carrying this charter into effect
Q and for the management of the affairs OF
Z the corporation. Any of the said director:
! shall have the right to delegate to any Other
: director in writing any of the rights anC
: The first board of directors shall consist
y of A. Kaplan, Frank A. GOdchaux, Sol Wex
{ Ter, Joseph Brig, J; A. Foster and W. 3
. first legal day in May, 1913, or until thei
successors shall have been elected and quail
= fed. The board Of directors shall annual!
= elect a president, q secretary, and treas
urer, each of whom must be chosen iron
q among their own number. OF the first 6oar'
: of directors herein selected, Frank Godchaul
y shall be president, W. b. Conover shall b
i secretary, and ]. A. Foster shall be treas
y urer, and they shall hold said offices unit
y their successors are elected.
I On the first legal day in May, 1913, AM
e annually thereafter, an election for direc
L tors shall be held at the office of the com
y pany, after ten days notice in writing sinai
n n have been given to each stockhOider OF en-
u ton, which may be served by TRANSMITTING
same to him through the mails, addressed Z
his last known place of residence or 0usl
e ness, or care of General Delivery, New OF
n leans, La. The voting for directors shal
y be by ballot under the supervision OF thre
e commissioners TO be appointed by. the boar
n of directors, and each stockholder in perso
y or by proxy shall be entitled to cast on
e vote for each share owned by him. whic
shall have been standing in his name on tn
cOmpanys books for at least ten days pro
], to the date of said election. A failure fror
y any cause whatsoever TO hold said annua
< election or meeting or to elect directors o
)f officers on the date above specified, shall no
,r dissolve the corporation; but the director
IS and officers then in office shall hold over ur
n til their successors shall have been electe
r and qualified; and 1t shall be the duty OF IN
s. board of directors, within ten days, to cor
A. vene another meeting OF stockholders 10
X the purpose Of electing directors, OF whic
M meeting each stakeholder shall have thre
lie days prior notice in writing, by mail, a
IN aforesaid issued to him by the secretary Q
ld the company A failure to elect director
Dr. at said meeting shall likewise not dissoly
tors and officers shall remain in Office unit
their successors are elected at the next eI
2 suing annual election and have qualified. l
n case of the death or resignation of any d
7 rector or officer before the end of his teri
o. of office, the vacancy shall be filed by tn
20 remaining directors by the election In b.
i'd place of a stakeholder having me necessar
IA cessor shall have been elected at an annui
~ election, and shall have qualified
,ol ARTICLE VI.
y
~ require a vote of the majority of the stoc
- present or represented to elect directors, {
y do any other act except to amend the cha
y. ter or dissolve the corporation, which sha
IT require a vote of at least three-fourths of II
u stock so present or represented, which thre
N fourths must also be a majority of the stoc
~ outstanding.
IN ARTICLE VII.
IL Upon the termination of this charter I
, limitation, or upon the dissolution OF II
o. corporation as hereinafter provided for, II
of oil NJ pOrnOratiOn
OF be liquidated by three commissioners electe
We from the stockholders at general meetir
ne of stockholders called for that purpose, aftt
~ giving TO each stakeholder ten days notlC
o. OF the time and place of holding said NEE
ing, in the manner prescribed by Article
hereof In case of the death Of a commi
sioner during the term of his duties, or
b. case of his failure or refusal TO act, the r
naming commissioners shall declare the o
= fee vacant and shall select successor fro
among the stockholders.
ARTICLE Will
Except as to the Increase or decrease
T capital stock. which must be done In Il