The herald. [volume] (New Orleans, La.) 1905-1953, 1912-07-18

power TO contract sue and be sued (; to make
and use a 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 otner 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
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
it may see fit, proper: and generally to have
and enjoy all immunities granted by law to
corporations or which may be necessary or
advantageous in the conduct and operation
Of Its business and affairs.
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 alb
sence upon the vice-pr esident, or in the alb
sence Of both, upon the secretary-treasurer.
ARTICLE III.
The objects and purposes of this corpora
tion and the nature of the business to be
carried on by IL, are hereby declared to be
to buy 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
business incidental or germane to the OBJ
| jects and purposes herein expressed, either
| for Its 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.
The capital stock of this corporation is
hereby nxed at the sum of one hundred thou
sand dollars (s1OO, 600. 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
Said corporation shall begin business as
| soon as the whole amount of the capital
/ stock shall have been subscribed for.
i All certificates of stock shall be signed by
the president and countersigned by the sec
| retary-treasurer.
Transfers of stock shall only be made or
the books Of the company by stakeholder
i ARTICLE "
i The business of the corporation shall b
entirely managed BY and all Its corporate
tors, composed Of three directors, to b,
4 elected annually on the second Monday II
April, beginning with the year 1914; a ma
i ority of said board shall constitute quorum
for the transaction of any and all business
The board of directors shall have thu
power to delegate the management OF all o.
part Of Its business to an agent, who ma!
not be member of said board, and entrus
to him the power TO transact any business
for this corporation and be their attorney IL
fact.
J, After their election, the members OF tn
said board shall elect one Of their humble
: as president and another as vice-president
] they shall further elect a secretary-treasure
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 o
the board of directors.
At all elections each share OF stock shal
be entitled to one vote, either In person o
by proxy, and the persons receiving a ma
iOritV of the votes cast Ghall he declare
elected.
The failure from any cause to hold a
election on the day above specified. shall no
dissolve said company, but those In ofic
shall hold said Offices until their successor
shall have been elected ; aIc mother electio
shall be called, or held, within thirty days
have twenty days prior notice, in writing
by mail, from the secretary-treasurer.
OF all general meetings and election
E twenty days prior notice shall be given ]
] writing by the secretary-treasurer unto eac
/, stakeholder. sent by mail and addressed
: his or her last known address.
!, Any member of the board OF director
I shall be authorized to appoint stockholdt
e ings, with the same powers as the principa
: Said proxy to be In writing, and the stool
$ holder. even though member, shall vote fC
{ himself and for his principal.
d This act of Incorporation may be altere
{ amended, or changed, or said corporatio
+ may be dissolved at a general meeting or II
= stockholders convened for that purpose, aftt
r fifteen days public notice published In or
J, Of the daily newspapers OF New Orleans;
which meeting the opinion of three-fourtf
of the stock present, or represented by prox
shall prevail And In case of the-d issol
/ ton being determined on, by like vote. Il
Il stockholders shall elect two stockholders ,
p commissioners to liquidate and settle the a
l. fairs Of the said company. In the event I
y 1.-THE death Of either Of the said commissio
:, ers or OF his inability to act, the liquidatit