The herald. [volume] (New Orleans, La.) 1905-1953, 1912-11-21
UNITED STATES OF AMERICA, STATE
OF LOUISIANA, PARISH OF ORLEANS


Be 1t known, that on this first day of
the month OF October, in the year OF our
Lord, one thousand nine hundred and twelve,
before me, Lewis Rossner Graham, a notary
public, duly commissioned and qualified in
and for the parish of Orleans, therein re-
siding, and In the presence OF the witnesses
hereinafter named and undersigned, per-
sonally came and appeared the persons
whose names are hereunto subscribed, who
declared that, ayailing themselves of the
provisions Of the laws OF this state relative
TO the organization of corporations, they
have covenanted and agreed, and do, by
these presents covenant and agree, bind,
form and constitute themselves, as well as
such other persons as may hereafter join
or become associated with them, into a cor
pOration and body polite in law, for the OBJ
jects and purposes and under the agree
ments and stipulations following, towit:
ARTICLE 1.
The name and style of this corporation
shall be the Louisiana Petrolithic Construc-
tion Company and under that name it shall
have and enjoy all the rights, advantages
and privileges granted by law TO corpora
tions 1t shall exist for a period OF ninety
nine years from the date hereof; shall have
power to contract, sue and be sued under
Its corporate name; to make and use q cor
porate seal, and the same to break or alter
at pleasure; TO hold, receive, purchase, con
vey, mortgage, hypothecate or pledge prop
erty. real, personal or mixed; to issue bonds
notes and other obligations; to have and
employ such managers, directors, officers
agents and other employees as the interest
and convenience Of said corporation may re-
quire or demand; to make and establish
such bylaws, rules and regulations for the
corporate management and control of the
corporation as may be necessary or expe
dent
ARTICLE II.
The domicile OF said corporation shall BIZ
in the parish Of Orleans, state Of Louisiana
All citation and other legal process shall
sence on the vce-president of the corpora
ton. In the case Of the absence or inabil
ity of both officers, then process shall bs
served on the secretary of this company.
ARTICLE III.
The objects and purposes for which thi.
corporation Is organized and the nature OF
the business to be carried on by 1t are here
| by declared TO be:
To do general paving, levee, roadway
| and street construction business to build
| construct and erect for other persons dams
reservoirs, canals, bitches, bridges, railways
| railroads, tramways, water craft work
shops and mechanical plants, and all char
| acter OF general construction work; to buy
sell, lease or otherwise deal in all machin
to reclaim and improve landed property
TO lay out town lots or suburbs, and to paw
and lay out streets, sidewalks and alleys
TO put down sewer, drainage, water an,
gas pipes to cosnect with municipal or 9th
er plants; to deal in by purchase, sale O
lease, on royalty or otherwise, ali patent
| or patent rights, and particularly all tn
| patents used In or useful to what is know
as the petrolIthic construction, and gener
i ally TO do and engage in any other bushes
undertaking or enterprise connected with
| growing out of, germane or incidental I
any OF the objects and purposes heeri
above set forth or contemplated by thl
charter.
ARTICLE ".
The capital stock of this corporation |
hereby fixed at the sum of one hundre
thousand dollars $500, 000O O) divided int
and represented by one thousand $1,000
shares OF the par valve Of one hundred do
lars (S1OO.OO) each, which said shares Q
stock shall be paid for in cash or may b
issued at not less than par for services rer
dered to or property or rights actually pui
chased or acquired by the corporation. A
shares of stock shall be full paid and moi
assessable. No transfer of stock shall
binding upon the corporation unless mad
upon its books OF such total authorize
capital stock five hundred (5OO) share
amounting to fifty thousand dollars $3.50
hundred (500) shares, amounting to Aft
, mon stock.
The holders of the preferred stock sha
| " lcSCNc, Wucu anu dS declare
from the surplus or net profits Of the col
! poration, yearly dividends at the rate
seven per cent (7To) per annum and 4
more, payable annually on dates to be fxe
by the bylaws. The dividends on the DR.
ferred stock shall be cumulative and sha
be payable before any dividends on the con
. mon stock shall be paid or set apart.
. that IL any year dividends amounting [
{ seven per cent ga shall not have bee
r paid thereon. the deficiency shall be payab
before any dividends shall be paid upon {
set apart for the common stock
: Whenever all cumulative dividends on Il
preferred stock for all previous years sha
have been declared and shall have becon
] payable and the accrued dividends for Il
current year shall have been declared an
f., the company shall have paid such cumul
tive dividends for previous years and sue
dividends for the current year or shall ha,
] set aside from its surplus or net profits
sum sufficient for the payment thereof, Il
board Of directors may declare dividends q
] the common stock, payable then or ther
! after out OF any remaining surplus or n
| profits
!. In the event Of any liquidation or diss
luton or winding ND, whether voluntary