The herald., 1912-07-11

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-
vey, 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,
omcers, agents, clerks and other employees
as the interest, convenience or advantage
OF the corporation shall require to estab-
lish bylaws, rules and regulations for the
proper conduct and operation of its busi-
ness, and the same to alter and abolish as
IL may see fit, proper and generally to have
and enjoy all immunities granted by law TO
corporations corr or which may be necessary or
aeVantageous In the conduct and operation
ARTICLE H.
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 ab-
senee upon the yiee-president, or in the alb
sence OF both' upon the secretary-treasurer.
The objects and purposes of this corpora
tion, and the nature Of the business to be
carried on by 1t, are hereby declared to be |:
10 ouy and sell cotton for exporting or for
home consumption; to carry on a general
commission business; also a cotton factor
age business; the said corporation Is also
empowered to perform any other acts and
OT StTIudne 10 the On-
jects and purposes herein expressed. either
for its own account or as agent for Others.
The said corporation shall have the right
10 establish agencies in the state Of Louisi-
ana or elsewhere.
ARTICLE ".
The capital stock of this corporation Is
hereby hxed at the sum of one hundred thou
sand dollars lS1OO, ,O00.0 .0O), 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
Transfers of stock shall only be made on
the books Of the company by a stakeholder
ARTICLE v.
The business Of the corporation shall he
entirely managed by, aud all its corporate
powers shall be vested in a board of tirec-
tors, composed of three directors, to be
April, beginning with the year 1914; a ma
Ority of said board shall constitute quorum
for the transaction of any and all business
The board of directors shall have the
part of its business to an agent. who NAV
not be member of said board, and entrust
to him the power to transact any business
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 a 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 filled by the remaining members Of
the board of directors.
At all elections, each share of stock shall
be entitled to one vote, either in person or
by proxy, and the persons receiving a ma
1ority OF the votes cast. shall be declared
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 Offices until their successors
shall have been elected; and another election
shall be called, or held, within thirty days !;
of which election, each stockholder shall
have twenty days prior notice, in writing
by mail, from the secretary treasurer.
OF all general meetings and elections
twenty days prior notice shall be given In
writing by the secretary-treasurer unto each
stockholder. sent by mail and addressed TO
his or her last known address.
Any member of the board of directors
shall be authorized to appoint a stockholder
to represent him at any or all board meet
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 of Incorporation may be altered,
amended, or changed, or said corporation
may be dissolved at a general meeting of the
stockholders convened for that purpose, after
fifteen days public notice published In one
which meeting the opinion of threefourths
Of the stock present, or represented by proxy,
shall prevail. And In case of the dssolu-
ton being determined on, by like vote, the
commissioners to liquidate and settle the af-
fairs Of the said company. In the event of
the death Of either Of the said commission
shall be continued by the survivor, unless