The herald. [volume] (New Orleans, La.) 1905-1953, 1912-09-26

tually purchased by this corporation.
All shares of stock shall be full paid and
Mons ssessible. No transfer of stock shall
be binding upon the corporation unless made
shall be signed by such officers as may be
designated by the Board OF Directors.
ARTICLE v.
All the corporate powers Of this company
shall be vested in and the management and
control of its affairs shall be exercised by
a Board of Directors composed of first
stockholders, a majority of whom shall con.
stitute a quorum for the transaction of all
business. The Board of Directors shall be
elected annually by ballot Of the stock
on the first Monday OF August of each year,
and after at least ten days notice shall have
been given to each stakeholder by mail ad-
dressed to his last known address, or by
publication In one of the daily newspapers
published in the City of New Orleans for at
least ten days preceding sNch election. Each
stakeholder shall be entitled In person or by
written proxy to one vote of each share OF
stock owned by him and standing in his
name on the books Of the corporation. All
elections shall be held under such rules and
regulations as may be determined by the
elected shall continue In Office for one year
or until their successors shall have been
duly elected and qualified No failure TO
elect shall be regarded as forfeiture OF this
charter. Any vacancy occurring on said
Board of Directors shall be filled by the
remaining directors for the unexpired term.
Said Board of Directors shall at Its first
meeting after its election, elect from among
Its number a President, a Secretary and q
Treasurer. 1t may combine the two last
mentioned Offices into one and may even
elect a Secretary who need not be stock
holder. Said Board OF Directors shall have
the right to appoint and dismiss such clerks,
managers and other employees of the cor
poration, including the secretary who Is
not q stakeholder, as conditions may justify
or the business of the corporation require:
The tenure Of Office Of all the employees of
the corporation shall be during the pleasure
Of the Board of Directors.
ARTICLE vi.
No stakeholder shall ever be held liable
or responsible for the contracts, faults or
debts of said corporation, nor shall any
mere informalfty In its organization have
the effect Of rendering this charter null, or
of exposing a stockholder to any liability
beyond the unpaid balance due on the
ARTICLE VII.
This act Of Incorporation may be changed,
modified or altered, or this corporation may
be dissolved with the assent of the stock.
holders owning a majority of the stock OF
the corporation at general meeting con-
for that and after eaan
ner and form prescribed In Article v of
this charter. In case Of the dissolution of
this corporation by the expiration OF this
elect three hquidators from among their
number, to liquidate and settle business and
affairs of the company. In case of the
death or inability Of any of said commits
sioners or liquidators, the survivor or sur
vivors shall eppoint q successor or success
sors to them. -,
ARTICLE VIII.
Until the election to be held in August.
1918, the following stockholders shall con-
stitute the first Board Of Directors, viz
Samuel NJ Todd, Murice @. Wogan and
Frederick s. Sutherland, with the said Sam.
uel NJ. Todd, as President and the said
Maurice G.. Wogan, as Secretary Treasurer.
Thus done and passed at my ONCE In the
City Of New Orleans, on the day, month
and year, herein nrst above written, In the
presence of Theodore A. Beck and Anthony
Troyani, both OF this city, competent wit
nesses, who have hereunto signed their
names with the said appearers and me,
notary, after due reading Of the whole:
Original signed Samuel M. Todd, 8
shares; NJ. G. Wogan, 20 shares; +. 8.
Sutherland, 3 shares.
witnesses IT. A. Beck, Ant. Troyan.
ROBERT LEGIER, Not. Pub.
I, the undersigned Recorder Of Mortgages
for the Parish Of Orleans, State OF louisa.
ma, do hereby certify that the above and
foregoing charter Of the River Front Tank
Storage Company, was this day duly re
corded In my Office in book 1855, Folio
New Orleans, La, August 10th, 1912.
(Signed) EMILE LEONARD, ID. r.
A true copy from the original act.
ROBERT UBGLER, Not. Pub.
Aug. %, %, Sept. 8, II. 10, 20.