The herald. [volume] (New Orleans, La.) 1905-1953, 1913-06-05
CHARTER.
PANAMA RICE MILLING COMPANY.
STATE OF LOUISIANA. PARISH OF OR
LEANS. CITY OF NEW ORLEANS.


STATE OF LOUISIANA. PARISH OF OK
LEANS. CITY or NEW ORLEANS.
BE 1t known, that on this twenty-eiShth
day of May, in the year one thousand nine
hundred and thirteen, before, me, Ml,lls si
Waller Young. a notary public in and Tor
the parish Of Orleans, state OF Louisiana,
duly commissioned and qualified, ana IN the
presence of the witnesses hereinafter named
and undersigned personally came and APP
peared the persons whose names are mere
unto subscribed, all above the full age OF
majority and residents Of this city, VINO de-
clared that availing themselves OF the pro
visions OF the constitution and laws OF this
state relative TO the organization or corpo-
ratiOns they do by these present form them
selves as well as their associates and sue
cessors into and constitute corporation
and body polite for the purposes and OBJ
iects and under the stipulatiOnS as herein
after set forth. which they hereby adopt as
their charter tO-wit:
ARTICLE 1.-The name and title Of this
corporation shall be PANAMA RICE MILL
ING COMPANY" its domicile shall be in
the city Of New Orleans, state OF Louisiana,
and it shall have and enjoy succession by
its corporate name for a period of ninety
nine years from this date.
The president, or in the event OF his alb
sence or inability to act, the secretary-treas-
urer Is hereby designated as the officer upon
whom citation, or legal process shall be
served.
This corporation shall have power and au-
thOrity TO contract, sue and be sued in its
corporate name. to make and use cOrpo-
rate seal, TO hold, receive purchase. mort
gage, lease. hire and convey property both
real and personal. make and establish by
laws and regulations for its proper manage
ment and name and appoint such officers as
its interest and convenience may require,
and It shall have all the rights. powers, ad
vantages and immunities, granted by law to
corporations.
ARTICLE 1.-THE purpose for which this
corporation Is organized, and the nature Of
the business 10 he carried on by II, are
hereby declared TO be To buy, sell, and deal
In rice and other agricultural products Of
this state, and their by-products, on commits
sion and otherwise and to do a general rice
milling business in all its branches. and for
said purpose II may own, lease and operate
mills, warehouses, factories and works and
10 do such other things as may be consistent
TO said business and to promote the same.
ARTICLE IlI.-The capital stock of this
corporation Is hereby fixed at the sum of
twenty thousand dollars, divided into and
represented by two hundred shares of the
par value OF one hundred dollars EACH which
shall be paid for In cash, goods or services
actually rendered TO the company. on such
terms and conditions as may be fixed by the
board of directors.
This corporation shall commence business
and become a going concern so soon as three
thousand dollars Of It's capital stock shall
have been subscribed for.
All transfers OF stock shall be made on
the books Of the company, and shall be sign
ed by the stakeholder or his duly authorized
agent.
ARTICLE Iy.-The corporate powers OF
tnlS company, ana tne 1ull management anC
control Of its affairs shall be vested In and
exercised by board Of directors composed
OF not more than five, nor less than tire,
stockholders. majority OF whom shall con
stitute quorum for the transaction of al
business.
Elections for directors by the stakeholder
shall be held annually (starting with tn
year 1910, on the first Tuesday in June, a
the office of the company. under the super
vision of two commissioners to be appointe,
by the president aftcr, ten days previou
notice of such meeting has been given
Immediately after the signing OF this char
ter the stockholders shall elect without fur
ther formallty, the board Of directors VIII
shall serve until the annual meeting in 1914
All elections shall be bv ballot and a ma
JOrlty or the votes cast shall elect
Each board SHALL at its first meeting afte
Its election. elect from its own number
president vice-presldent, and a secretary
treasurer and they, as well as the boa r,
electing them. shall hold office until thei
successors are duly elected and qualified
Any vacancy occurring in said board shall
be filled by the remaining directors for tn
uneNpired term.
ARTICLE V.-No stock OF the compap,
shall be sold by any holder thereof withou
first offering the same. In writing TO tn,
stockholders, through the board of directors
at Its book value.
ARTICLE vI.-The capital stock Of thi,
corporation may he increased In the manner
provided by the laws OF this state in whicl
event, fifteen days written notice shall h,
given TO each stakeholder. within which tim,
right 10 subscribe for said additional isSn,
or stock in proportion to the number OF
shares then owned by them, and which oddi
n mona, s9 tS shall be paid for in such man
after the expiration OF said time the board
may dispose OF the shares not taken In sucf
manneT as they deem tit and proper.
ARTICLE NII-This act of inCornora
Iion may be changed, modified or this cor
poration dissolved with the assent of n ma
Jor,ty or ITS stock. present or represented, al
pose, after thirty days previous notica n,
such meeting has been given
IN case OF dissolution or LIQUIDATION n,
iuiS corporation. from any cause the stock
holders shall elect from among their nnmba,
Two liquidators. at a meeting convened 70,
Ihat purpose after ten days previous motto,
ar a. such meeting has been given. Said liqui
GATORS shall have full power 10 fully an,
nnally settle and wind up all the bnsines
ana anairS of this corporation In IN,
event of the death of either Of said liGn mi
GATORS, or or the refusal or inability OF ON,
TO act N'"''"u
Written notice OF all stockholders meet
lngs and votings shall be given through mail
addressed 10 each stockholder at his addres,
appearing on the books of the company am
a. an such meetings and votings each shar,
OF Stock shall he entitled to one vote, eitheI
IN person or by proxy.
No stakeholder shall ever be held liab,.
or Responsible for the contracts faults OF
deDts or this corporation. nor shall anv more
sV i'iitF III iIS organization have the ef
feet OF rendering this charter mil mr. os er
posing stakeholder TO any liability beyond
the unpaid balance, II any, due on the shares
owned by him.
The subscribers hereto have each set On.
posite their respective names the number OF
shares OF stock subscribed for BY each of
tnem In order that the same may also serve
as the original subscription list
Thus done and passed In my notarial Of
nee In the city OF New Orleans aforesaid. in
the presence of Jefferson c. Wenck and
Thomas Joseph Dobbins competent Witness
es or lawful age. and residing in this CITY.
who hereunto subscribe their names. To-
gether with said parties and me, notary. on
hereof S~pi0
Original signed) Names of subscribers
and subscriptions omitted ]. c. Wenck. It
J. Dobbins. JEFF C. wENcK Nof pyb
l, the undersigned recorder of mortpa ges
In and for the parish of Orleans. state OF
Louisiana, do hereby certify that the above
and foregoing act Of Incorporation of the