The herald. [volume] (New Orleans, La.) 1905-1953, 1912-11-21
CHARTER
OF "PAN-AMERICAN LAND & LUMBER
COMPANY"
UNITED STATES OF AMERICA, STATE
OF LOUISIANA, PARISH OF OR

UNITED STATES OF AMERICA, STATE
OF LOUISIANA, PARISH OF OR
| LEANS, CITY OF NEW ORLEANS.
! Be ii known, that on this 10Th day OF the
month Of October. in the year OF our Lord
one thousand nine hundred and twelve. and
IOf the Independence of the United States of
America the one hundred and thirty-Seventh
before me, Philip GcnSlcr, Jr., a notary pub
lie in and for the parish Of Orleans state Of
Louisiana. duly commissioned and qualified
and in the presence Of the witnesses here
matter named and undersigned, personally
came and appeared the several persons
whose names are hereuntO subscribed, all OF
| the age OF majority. who declared that.
awaiting themselves OF the provisions OF the
laws OF this state. relative 10 the Organiza.
tion OF corporations, they hereby form them
selves into and constitute corporation for
IStipulatiOnS, hereinafter set forth, tO-wit:
| ARTICLE ].
! The name, style and title of this COrpO-
ration shall be the "PANAMERICAN LAND
is LUMBER COMPANY" and under that
name il shall have and enjoy all the rights,
| privileges and lmmunities granted by law 10
corporations. 1t shall exist for period of
Ininety-nine years from the day and date
! hereof; ii shall have the power and author
! ity in its corporate name 10 sue and be
sued to make and use corporate seal, the
same to break, alter or amend at pleasure {;
to own, hold, receive, purchase, sell, convey,
deliver, mortgage, lease, hypOthecate, and
pledge property, both real and personal, cor
pOreal and incOrpOreal improved and unim-
proved; TO borrow and lend money; to issue
bonds, notes and other obligations, negOtia-
BILE instruments and other evidences Of debt,
the same TO secure by mortgage or pledge Of
the property or the corporation 10 purchase
or otherwise acquire, hold, sell, assign, trans
fer pledge or otherwise dispose of shares OF
the capital stock of any other corporation
or corporations, and to issue its obligations
in payment or exchange therefor, and 10 Sc
cure the same by mortgage, pledge, or any
other way, for the purposes of the business
OF its Incorporation; to purchase or acquire
ba t.f xr1 init nj .ltrS
or profits, and shares SO acquired may be
resOld, unless retired in order to decrease
the capital stock OF the company as pro-
Yided by law; to appoint managers, officers
states, or elsewhere, as its interests may re-
quire to establish, alter and amend all rules
and regulations and bylaws for the conduct
and management of its business as may be
necessary and proper.
ARTICLE III.
The dOmicile of this corporation shall be
in the city of New Orleans, state of LOuisi-
ana, and all citation and other legal pro-
cess shall be served upon the president, and
in the absence of the president upon the
yice-president, and in the absence of both Of
these, upon the secretary-treasurer OF said
corporation.
The objects and purposes for which this
corporation is organized and the nature Of
the business TO be carried on by IL, are
hereby declared to be-
To carry on general mercantile business
and trading generally, as incidents to its
main business; TO deal In, acquire, buy, SELL
lease, rent, mortgage or hypOthecate, real
estate, both within and without the state of
Louisiana, to improve same, to construct
buildings, roads, streets thereon, or to drain
or otherwise improve the same:
To buy and sell at wholesale or retail
timber lumber and other forest products, in
its raw and manufactured form to manufac-
ture the same IN any and all forms:
To own, operate, build, lease, acquire or
control such manufactures, mills, dry kilns
and other plants incidental to said business,
in this and other states
To buy, own, lease, acquire, sell or mort
gage timbered and other lands, for the pur-
pose Of operating its manufacturing plant
or plants, or for the purpose of acquiring
the stumpage Of timber thereon:
To construct, buy, lease, own, operate and
acquire tramways and railways, barges,
steamers, schooners, launches and other wa
said business, but not as common carriers !;
and generally, TO do and perform any and
all things necessary, proper or incidental to
the operation and carrying on Of general real
mill business.
The capital stock OF this corporation is
hereby fixed at the sum Of thlrty-five thou
sand dollars $3.50 ,oOO), divided into and
represented by three hundred and fifty $500
shares each Of par value of one hundredd
dollars lS1OO), payable in cash or its equiv
alent, as follows
One hundred and fifty (15O) shares of
preferred stock, and two hundred (2OO)
shares Of common stock.
The preferred stock shall be entitled to
preference and priority over the common
stock In that it shall be entitled to receive
annually from the net earnings Of the bust
ness Of the company dividend Of six per
cent (6 per cent?, which shall be cumulative
and which shall be paid before any dividend
Is declared upon common stock, or paid to
common stock holders. The preferred stock
shall be entitled to no additional annual
dividend, but it shall, in the event Of liqui-
dalton or dissolution Of the company, volun-
tary or involuntary, be paid in full, that is
in par value and interest, out Of the assets
of the company before any such assets can
be distributed to the common stockholders.
The company shall have the right, after
three years from the issue of any preferred
stock, and after ninety days notice. either
by mailing said notice to the last known ad-
dress of the registered owner Of said stock
or by publishing notice In a daily newspaper
In New Orleans at least once week for five
weeks. to redeem any preferred
stock at par and accrued interest, and said
stock, IL so redeemed may be re-issued No
tice of redemption shall state the time and
place Of redemption, and at the time stated
for redemption, the amount due may be de-
posted In any bank in the city of New Or
leans, and thereafter, all liability of the
company shall commence business as soon
as five thousand dollars Of stock is sub
scribed.
ARTICLE V.
All lhc NOlpoldlc pONcIS VI COTpOTd-
ton shall be vested in and exercised by
board Of three directors, all stockholders Of
this corporation.
III. VI. Thompson, Clinton Thompson and
Howard Coumbe shall constitute the first
board of directors, who shall hold Office I'M
til the second Wednesday In December, 1912,
or until their successors shall have been
duly elected and qualified In each year, on
the second Wednesday in December the d.
rectors shall be elected by ballot Of the
at the annual meeting called
by mailing TO each stakeholder, at his last
known place of residence ten days written
notice Of such meeting. Each stakeholder
shall be entitled in person or by proxy to a
vote for every share owned by him and
In his name on the books Of the
corporation at the time of the election or
other meeting, and all elections shall be
held under such rules and regulations as
may be determined by the board Of direc-
tors Failure to hold an election on the
date specified shall not dissolve the corpo-
hold their respective offices until an election
be subsequently held after ten days written
notice mailed to the last known place Of
residence of each stakeholder.
Vacancies occurring on said board shall
be filled by the remaining directors for the
unexpired term.
The officers Of this corpora tion shall con.
sist Of president, a vice-p:esident, and a
The following shall be the officers of the
until the second Wednesday In
December. 1912, or until their successors are
duly elected and qualified III. NJ. Thompson,
president Clinton Thompson, vice-president |
Howard Coumbe. secretary treasurer.