The herald. [volume] (New Orleans, La.) 1905-1953, 1913-01-02
ARTICLE ".

The capital stock of this corporation 4.
l hereby fixed at the sum Of one hundred
| thousand dollars 100000. 0O), divided into
and represented by one thousand shares of
| the par value of one hundred dollars
| (S1OOOO) per share. This company shall
| have the right to commence business and be
a going concern when three thousand dollars
| lS3.ooOOOD of the capital stock shall have
! been subscribed for. All stock subscribed
! for shall be paid for in cash or property re-
/ ceiyed or labor done at such time and upon
such terms and conditions the board OF
| directors shall prescribe No transfer of
! stock shall be admitted or held to be valid
! or binding so far as the company is con
cerned unless made on the books of the
company. No sale or pledge of stock shall
De valid unless said sale or pledge is accom-
panied by a written certificate signed by the
president and secretary treasurer of the com
pany TO the effect that said stock was Of
fered To the remaining stockholders through
the board of directors at its book value for
a period OF ten days and they had failed or
declined to PURCHASE same.
Stock sold or pledged in cOntraycntiOn to
THIS provision shall become the property of
the stakeholder first rendering to the trans
terree or Pledge its book value.
ARTICLE V.
All the powers OF this corporation shall
he vested in and the business and affairs
shall be managed by a board Of directors
consisting Of three directors who shall be
elected annually at meeting of the stock
holders on the first Monday OF October OF
tors named in this charter, who shall hold
Office until the first Monday of October. 1914
All elections shall be held by ballot at the
Office OF the company under the suDpryiSion
of two commissioners to be appointed by the
board of directors. Notice Of such meeting
shall be given by the secretary treasurer i'm
writing, delivered To each stakeholder in
person, or mailed to his last known address
at least ten days prior to such election. but
TINS notice may be waived by all the stock
holders
. all ii.
OF the stockholders every stakeholder shall
he entitled TO one vote for each share Of
stock standing in his name on the books of
the company at the date Of said election or
meeting; said votes TO be cast in person or
by written proxy, and majority Of the
votes shall elect.
The failure TO elect directors at the an
nUal meeting shall not dissolve or affect the
corporation nor impair its management in
any respect: but the directors in office shall
remain in Office until their successors are
elected and qualified
The board Of directors shall elect as soon
as possible after their own election and
from their own number a president. Il Vice
president, and secretary-treaSurer. and
may grant to each officer such power as they
deem proper.
All vacancies in the board for whatever
cause shall be filed by the remaining dircc-
tors. Any member OF the board may ap-
point any other director his proxy TO act in
his place and stead at any meeting Of the
board.
ARTICLE VI.
This act of incorporation may be mOdi-
fed, changed or altered. or said corporation
may be dissolved with the assent Of three
fOurthS of the capital stock OUTSTANDING at
a meeting of the stockholders convened for
that purpose and after ten days notice has
been given by registered letter mailed to the
last known address of each stakeholder. The
said notice may be waived by the unanimous
consent Of all the stockholders
In case of the dissolution of the corpora !
ton It's affairs shall be liqudated by the d- |
rectors in office al the date Of the dissOlu- !
ton.
ARTICLE VII.
No stakeholder shall ever be held liable |
for the faults or contracts of said corpora |
ton in any further sum than the unpaid |
balance due to the corporation on the shares |
owned by him, nor shall any mere informal |
ity have the effect of rendering the charter |
null. or exposing any stakeholder to any |
liability beyond the unpaid balance due on |
his stock.
ARTICLE VIII.
The first board of directors shall consist |
Of: Emile 4. RainOld. who shall be its first |
president; Ernest Roger, who shall he its |
irst vice-president, and Frank r. Rainold |
who shall he its secretary-treasurer.
The subscribers hereto have respectively |
written opposite their name the amount of |
stock subscribed by them In this corporation, |
so that this act of Incorporation may also |
serve as the original subscription list of the
corporation.
Thus done. and passed at my office in the |
city of New Orleans, state of Louisiana, on |
the day, month and year herein first above |
written. in the presence OF Rosa Klar and |
Benjamin Y Wolf. competent witnesses of |
,ity, who hereunto sign their names with |