The herald. [volume] (New Orleans, La.) 1905-1953, 1912-08-08

power to contract sue and be sued to make
and use corporate SEAL the same to alter
or break at pleasure; to hold, receive, con-
yey, purchase, hypothecate, mortgage, pledge,
lease or otherwise acquire and dispose OF
property, both real and personal; to borrow
money, issue notes, bonds and other evil
dences OF debts; to have. employ, discharge
and compensate such managers, directors,
officers, agents, clerks and other employees,
as the interest, convenience or advantage
or the corporation shall require; to estab-
lish bylaws, rules and regulations for the
proper conduct and operation Of it's bust
ness, and the same to alter and abolish as
IL may see mt, proper; and generally to have
and enjoy all immunlties granted by law to
corporations or which may be necessary or
advantageous In the conduct and operation
Oh Its business and affairs:
The domicile OF this corporation Is de-
clared to be in the city of New Orleans.
parish of Orleans state of Louisiana.
All citations and other legal process shall
be served upon its president. or in his alb
sence upon the vice-president, or in the alb
sence of both, upon the secretary-treasurer.
ARTICLE III.
The objects and purposes Of this CORPORA
ton, and the nature of the business to be
carried on by it, are hereby declared to be
to buy and sell cotton for exporting or for
home consumption to carry on q general
commission business; also a cotton factor
age business; the said corporation Is also
empowered to perform any other acts and
business incidental or germane to the OBJ
tects and purposes herein expressed either
Tor It's own account or as agent for others.
The said corporation shall have the right
to establish agencies in the state of Louisi-
ana or elsewhere.
ARTICLE w.
The capital stock of this corporation Is
hereby fixed at the sum Of one hundred thou
sand dollars $500 900 OO) divided into and
represented by one thousand shares of one
hundred dollars each; which stock shall be
payable In cash, or its equivalent, at time Of
subscription.
Said corporation shall begin business as
soon as the whole amount of the capital
stock shall have been subscribed for.
All certificates of stock shall be signed by
the president and countersigned by the sec
retary-trea surer.
Transfers of stock shall only be made on
the books OF the company by stakeholder
In person or by proxy.
ARTICLE w..
The business of the corporation shall be
entirely managed by, and all it's corporate
tors, composed of three directors, to be
elected annually on the second Monday In
April, beginning with the year 1914; a ma
ority OF said board shall constitute a quorum
Tor the transaction of any and all business.
The board of directors shall have the
power to delegate the management Of all or
part Of Its business to an agent, who may
not be member Of said board, and entrust
for this corporation and be their attorney in
fact.
After their election. the members of the
said board shall elect one Of their number
as president and another as vice-president !;
they shall further elect secretary-treasurer
who may not be a member Of the board.
Vacancies In the board Of directors result
ing from death, resignation, or otherwise,
shall be filed by. the remaining members Of
the board of directors.
At all elections, each share of stock shall
by proxy, and the persons receiving a ma
t0rfty Of the votes cast, shall be declared
elected.
The failure from any cause to hold an
election on the day above specified shall not
dissolve said company, but those in office
shall hold said ofdces until their successors
shall have been elected; and another election
shall be called, or held, within thirty days I:
have twenty days prior notice, in writing,
by mail, from the secretary-treasurer
or all general meetings and elections
twenty days prior notice shall be given in
stakeholder, sent by mail and addressed to
his or her last known address.
Any member of the board Of directors
shall be authorized to appoint stakeholder
ings, with the same powers as the principal.
said proxy to be In writing, and the stock
holder. even though a member shall vote for
himself and for his principal.
ARTICLE vi.
This act or Incorporation may be altered
amended, or changed, or said corporation
may be dissolved at a general meeting Of the
fifteen days public notice published in one
Of the daily newspapers Of New Orleans: at
which meeting the opinion OF three-f ourths
OF the stock present, or represented by proxy,
tion being determined on, BY like vote. the
stockholders shall elect two stockholders as
commissioners to liquidate and settle the af-
fairs OF the said company. In the event Of
an a. II Al iuabiI1fv 20 49, fhe Iicnids fion