The herald. [volume] (New Orleans, La.) 1905-1953, 1913-12-04
ACT OF INCORPORATION OF LOUISIANA
TIMBER COMPANY.
STATE OF LOUISIANA, PARISH OF OR
LEANS. CITY OF NEW ORLEANS.

LEANS. CITY OF NEW ORLEANS.
Be it known. That. on this the 2Tth ia,
Of the month Of October, in the year Of On
Lord, One Thousand, Nine Hundred an
Thirteen, and OF the Independence of tn
United States OF America, the one hundre,
and thirty eighth. before me, Charles +
Fletchingcr, a notary public, duly commits
stoned and qualified In and for the City
Parish and State aforesaid therein residing
and in the presence Of the witnesses herein
after named and undersigned, PERSONAL.
came and appeared the several person
whose names are hereuntO subscribed, witt
declare that. availing themselves of the pro
visions Of the laws Of this State RELATIVE
to the formation and organization OF cOrpOr
atiOnS, they lave cOvenanted and agreed
and do. by these presents. covenant. agre
and bind themselves, for the purposes here
matter stated. as well as those who ma
hereafter become associated with them, t,
form themselves into a corporation for III
objects and purposes, with name and unde
the stipulations following, tO-wit:
ARTICLE 1.-The name and style Of thi
corporation shall be LOUISIANA TIMBEI
COMPANY, and by said corporate name i
shall have succession and enjoy existence 70
period Of ninety nine years, unless sOOne
dissolved, in the manner provided by law ant
the articles OF this charter; and, under sal,
corporate name, IL shall have power an,
authority 10 contract, sue and be sued. L
make and use corporate seal, the sam,
10 alter or break at pleasure; 10 make al
necessary rules and regulations for its cor
pOrate management and control and shal
have and enjoy all the rights, privileges anC
immunities which are now conferred upon, o.
may hereafter be granted to, corporations u
the same kind and character.
ARTICLE 1.-THE domicie OF this cor
poratiOn shall be in the City of New Or
leans, State OF Louisiana, and all citations
and other legal process shall be served upOI
the President, or, in his absence or inability
to act upon any other officer OF the cor
poration.
ARTICLE III.-The objects and purpose.
FOR which this corporation is organized ar,
hereby declared TO be 10 buy and sell timber
lumber and timber lands; 10 acquire, main
tain and operate sawmills and plants for the
manufacture Of timber into lumber; TO &C
quire, maintain and operate logging rail
ways for the purpose OF transporting log:
from the forest to saw mills; to acquire, by
purchase, lease or otherwise, timber anC
other lands and 10 mortgage or otherwise
cucumber the same at pleasure, and 10 dc
and perform all things Incidental or germant
10 the objects and purposes above expressed
ARTICLE IV-The capital stock of thi:
corporation shall be Fifty Thousand Dollar.
100000, divided into five hundred (5OOJ
shares OF the par value of One Hundred
Dollars 100000 each said stock shall be
Issued only for cash or In payment Of prop
Fry or services actually received by or rem
dered TO said corporation. This corporation
shall commence business and become a coins
concern as soon as Four Thousand Dollars
OF its capital stock shall have been subScrib
Ell anu pdlu IN +, tne residue or said stock &c
be issued and payment made therefor subject
OF the action and call Of the Board of Direc
tors. Said stock shall be fully paid at the
time or its Issuance and thereafter be non.
aSSesSable, and the capital stock may be
increased or decreased in the manner pro
vided by the laws OF this State
The parties TO this Act declared that they
hereby subscribe for the number Of shares OF
sald capital stock set opposite their reSpec
tive signatures hereto. SO that this Act of
Incorporation shall serve as an original sub
ScriptiOn.
No present or future stakeholder shall ever
validity sell, assign or transfer other than
by inheritance, any of the capital stock OF
this corporation, until the same shall have
been first offered to the remaining stock.
holders for the benefit Of thost stockholders
through the Board OF Directors for a period
OF ten days. at the book value as shown by
the books of the corporation, on the date
t . inventory was made. preceding the
GATE such offer. 1t shall be the duty OF
the BE I'D OF Directors, promptly, upon re-
ceiving an offer Of SALE Of any of the capital
stock OF the corporation, to communicate the
same TO the stockholders, in writing. through
the secretary of the company, and each of
such stockholders shall be entitled TO pur.
chase such proportion Of the stock, so offered
ior sale, as TO the number of shares owned
by him at the time bears to the number
owned by all other stockholders desiring 10
participate in the purchase
ARTICLE V.-All the powers of this cor
poratlon shall be vested in and be exercised
by board Of three directors. TO he elected
each year by the stockholders at the annual
meeting; the said directors shall be bona
noe stockholders, and the first board shall
consist OF Henry d. Richardson, who shall
be president and general manager: WilIiam
Z. Day, who shall be vice president: ]. q.
Cravenberg, who shall be secretary-trea srrer
On the first Tuesday in October, 1914 and
annually thereafter, except when such day
snail fall on legal holiday, then on the
next succeeding layday. the stockholders
shall elect a board of directors for the on.
suing year, the board already Installed 70
continue con TO hold over until their successors
are elected and qualified. The board of
directors so elected shall select from their
own number the officers OF the cornoration
VINO shall be president, who shall be also
general manager; vice-president and a
OTIS snail be by ballot. and the persons re-
ceiying the largest number of votes cast sba n
ne elected. For electing directors or for
Whether present or by proxy, shall be en-
titled TO one vote; and a majority OF votes
cast shall be required to pass any resolution
or decide any question submitted to the
STOCKHOLDERS, except for the alteration or
amendment of this charter, or the dissoIr.
vided. Pto-
The said board of directors shall have
power and authority to make all necessary
rules and regulations for the managemenf
operation and control of the business 90 tbn
corporation, as well as to make all necessarv
rules ana bylaws, with power to FIJI any
vacancy occurring In their numebr A ma.
Jorlty or the Directors voting at any on.
time, IN person, or by proxy, shall be re-
CURED TO pass any resolution or adont anv
bylaws, and which, when so adopted shall
become valid corporate acts.
ARTICLE Vl-Notice Of all meetings of
stockholders for electing directors. or for
any other purpose, shall be given. ia writ.
ing: by the secretary, to be deposited in The
mail, at least ten days before such meeting
gSIrecIed 70 each stock holder, at his last
knoWn ADDRESS, appearing upon the books
OF the corporation, unless said notice is
WalVed In writing by all the stockholders
appearing as such upon the books
ARTICLE VII-This act Of incorporation
may be modified, added to. changed or
amended, or this corporation may be dis
solved, by and with the assent of tbe boIdnrs
Of three-fOurths in amount OF its then oio oG1
standing capital stock, given at a general
meeting or the stockholders Of the corpora.
tlon, 10 be convened for such purpose sftar
ten days prior notice, TO be given in ono
OF the daily newspapers published in the
city or New Orleans. In addition TO the
kotice TO the stockholders, as provided in
Article vi OF this charter
ARTICLE VIII.-Whenever this cornora.
ton is dissolved, either by limitation Of its
charter or from any other cause IFS affairs
and business shall be liquidated bv three
commissioners, to be appointed from among
the stockholders at general meeting there.
or, TO be convened after ten days' prior
papers published IN the City of New Orleans
in addition to the notice to each stakeholder
provided in Article VI hereof. and by the
Affirmative vote Of three-fourths of the stock
)f the corporation represented at such meet
ng. such commissioners shall remain in