The herald. [volume] (New Orleans, La.) 1905-1953, 1912-04-25

UNITED STATES OF AMERICA, STATE
OF LOUISIANA, PARISH OF OR
LEANS.
Be 1t known, that on this third day of
April in the year OF our Lord one thousand
nine hundred and twelve, before me, Am
brose g. Lattice, a notary public duly APP
pointed and qualified, In and for the parish
OF Orleans state Of Louisiana. and In the
presence of the undersigned witnesses, per-
sonally came and appeared the several per
residents of the parish OF Orleans and of the
city of New Orleans, who severally declared
that, ayailing themselves of the laws OF this
state. in such cases made and provided, they
presents do organize themselves into cor
poration and body corporate, for the objects
and purposes and under the stipulations fol-
lowing. to-wit:
ARTICLE l.
The name and title of this corporation
shall be GLENMORA NAVAL STORES
COMPANY, and dts domicile shall be In
New Orleans, parish OF Orleans. Louisiana.
1t shall exist for the term OF ninety nine
years from date hereof and by name shall
sue and be sued and contract and enjoy any
and all rights. privileges and powers under
the laws OF the state Of Louisiana.
ARTICLE II.
The objects and purposes for which this
corpora tion Is established and the nature OF
the business to be carried on by II, are, 10
produce, manufacture, buy and sell turPen-
tine rosin, naval stores, and wood derlVa-
tives and produce of all kinds; to operate
saw mills and to sell the produce and resi-
due or waste thereof or to further use and
manufacture the same, and to pull stumps
and clear land, whether In connection WIN
such business or apart from 1t !; TO BUY, sell
and lease real estate, to operate tram roads
and barge lines or other vessels, In connec-
ton with the carrying on OF Its business, 70
conduct q general merchandise business IN
conne1Dn with said business, ana generally
to eng in any business incident to or CON
veniently necessary TO or connected with the
operation of the business above mentioned.
ARTICLE III.
The president. or in his absence or inabil.
ity TO act the vice-president. or in case OF
his absence or inability, the secretary, shail
be the proper person upon whom all citations
or legal process shall be served.
ARTICLE ".
The capital stock Of this corporation Is
hereby fixed at the sum of two hundred and
fifty thousand dollars $3.50, 100000, divided
into twenty-five hundred &: 5OOl shares or
the par value of one hundred (S1OO.0Ol dol
lars each. Said shares Of stock shall De
maid for by the subscribers thereto, as shall
he required by the board of directors. and
the stock may be issued In payment OF pro-
perty acquired by the corporation or In com
Densation for services rendered rms cor
poration shall be authorized TO begin busi-
ness as soon as one hundred thousand aoi,
lars $500 OOOO0) or more of the capital
stock shall have been subscribed ior; Any ny
stockholder may sell, assign, or transfer MS
stock in this corporation, provided thirty
(3O) days prior written notice or such IN
tention to sell, assign or transfer the same
thereof shall have the first privilege of pur-
chasing the same; after which notice the
said stock may be sold In open marker. A
prior lien on all shares OF stock shall pe re-
famed by the company on the stock or any
Shareholder for any Indebtedness secured or
unsecured, however evidenced or created, que
at any time TO the company by the holder OF
such stock And all transfers OF stock snail
be transferred subject to this clause.
ARTICLE V.
All mowers of this corporation shall be
vested in a board Of directors composed Oh
not less than three 90 stockholders. Iney
shall be elected on the first Monday OF De
cember in each year, commencing isa 1rn at
after ten days previous notice in writing 70
each stakeholder owning stock standing IN
his name on the books OF the corporation;
and until such time the following named
stockholders are hereby named as the hrst
hoard of directors, and who shall hold their
Office and exercise their functions until tneIt
successors are elected, VIZ =: r: Mason r. r.
Mason shall be president, z N. Pringle
shall be vice-president, and T. wood snaIi
ha secretary and treasurer The same per
son NAV hold the Offices Of secretary and
treas urer or each Of such offices may be held
by different person.
THE election Of the board OF directors
shall he by ballot, and each stockholder shall
ha entitled TO one vote, either in person or
BY proxy, for each share of stock owned oy
him and a majority of the votes cast shall
aIact The hoard Of directors shall, imme-
disteIy after their election, elect from their
number. a president, yice-president, sec
retary and a treasurer.
Ths said hoard of directors shall elect and
amnlov any and all employees, managers
and clerks Of the corporation they may deem
necessary for the proper conduct OF the
business, and may FIX their compensation