The herald. [volume] (New Orleans, La.) 1905-1953, 1913-06-19
CHARTER OF STERNS AUCTION EX-
CHANGE.
STATE OF LOUISIANA, PARISH OF OR.
LEANS CITY OE NEW ORLEANS

LEANS, CITY OF NEW ORLEANS
Be 1t known, that on this 10th day Of the
month Of Nav, 1913, before me, Scott E..
Beer, a notary public in and for the parish
Of Orleans, state Of Louisiana, therein re-
siding, duly sworn, commissioned and quail
fed, and In the presence of the witnesses
hereinafter named and undersigned person
ally came and appeared: the several parties
whose names are hereunto subscribed as
such, severally declared that availing them
selves of the laws Of the State of Louisiana
In such cases made and provided, they have
contracted and agreed and do, by these
presents, covenant agree and bind them
selves, as well as all such persons as shall
hereafter become associated with them, to
form a corporation for the objects and pur-
poses and under the articles and stipula-
tions following, to-wit -
tion shall be STERNS AUCTION En-
CHANGE, by which name the said COM
pany shall have and enjoy corporate ex-
istence and succession for the term of ninety
unless sooner dissolved. Its domicile shall
be In the City Of New orleans, La. It shall
have power to sue and be sued, to con.
| tract, to make and use a corporate SEAL
and the same to break or alter at pleasure
to hold, receive, lease, purchase, sell and
convey, as well as to mortgage and hypothe-
cate, under Its corporate name, property,
real, personal or mixed to borrow and lend
money, and to give and receive securities
therefor, and to make and appoint such
managers, directors, and officers and agents
and employees as the business, interests and
convenience of said corporation may re.
quire; to make, and establish such bylaws
rules and regulations for the said corpora.
ton as may be necessary and proper, and
the same to alter and amend at pleasure
ARTICLE II.-All citations and other
| legal process shall be served on the presi
dent and in case of his absence on the
secretary and treasurer OF this corporation
this corporation is established and the ma.
ture of the business to be carried on By II
are hereby declared to be to sell, at Its
place OF business or elsewhere, at public
and at private sale, through any of its Of.
fcers, agents or employees, property owner
or to be owned by this corporation or any
one else, Of every kind, nature or character
and to carry on the business Of a private
warehouseman and to do all things and
acts necessary and proper to accomplish the
objects herein set forth.
ARTICLE Iv.-The capital stock of thi.
corporation Is fixed at the sum Of ten thons
and dollars (S10,000) to be represented BY
one hundred shares Of the par value Of one
hundred dollars each. Stock shall be issued
only for cash or its equivalent. and for NOT
less than par.
This charter shall be in full force and
this company shall be a going concern a.
soon as three thousand dollars (S3, 0O0) OF
Its capital stock shall have been subscribed
for.
Any stakeholder Of this corporation NAV
sell or assign or transfer his stock provided
ten clear days prior notice In writing OF
| such intention to sell, assign or transfer
| same be given by him to this company. The
company and the shareholders thereof shall
have the first privilege of purchasing same
after which said ten days notice, the holder
OF the said stock may sell the same as ht
sees At, provided no stakeholder has exer
cised the said privilege herein given him
Transfers of stock shall be made only or
the books Of this company, subject to the
regulations as the board of directors may
prescribe.
ARTICLE v-All the corporate powers
of the corporation shall be vested In a board
of directors to be composed of three stock
holders of this corporation, any two Of
whom shall constitute a quorum for the
transaction Of the business and affairs o.
this company. The board of directors shall
be elected annually on the first Monday o.
June. The first board Of directors shall b.
elected at a meeting Of stockholders to b.
held Immediately after the signing and re
cording Of this charter. The board Of di
rectors shall elect from It's number, a presi
dent, a vice-president and a secretary ant
treasurer. All directors shall hold ONO
until their successors are elected and quail
| fed, and all elections shall be by ballot a
/ the ONCE Of this corporation under the su
pervision of three commissioners appointe
BY the said board Of directors. Such cleo
ton shall not be held without q notice o
ten days In writing, to each stakeholder, q
his last known address. Each stOckholde