The herald., 1913-07-24

the constitution and laws of the state Of
Louisiana.
Article 1.-THE domicile Of this corpor-
alton shall be in the city Of New orleans In
the parish Of Orleans and state OF Louisiana.
Article IlI.-The objects and purposes for
which this corporation is formed and the
nature OF the business TO be carried on by
II are hereby declared 10 be: To store. or 10
buy and sell, and otherwise deal in, mo
lasses and sugar and TO that end to buy,
erect. lease. or 10 own and operate such
buildings or plants as may be necessary or
Of use In the storing and handling OF mo-
laSseS and sugar. the property OF others, or
Of this company and TO operate such stOr-
age building as private or as public ware
houses to own, or to lease, and operate
barges or barge lines. or tank cars or other
means OF transporting and handling mo-
laSSeS and sugar to advance or loan money
on molasSes or sugar held in storage or
otherwise secured: TO erect canning plants
at such points as the board of directors may
determine for the canning or syrup and
molasses and TO dispose OF the products
thereof. To spend money in experiments
as to the best methods and packages In
which TO store, handle or distribute mo-
lasSes and sugar: to gather and distribute
TO its stockholders or customers informa-
tion as to the prices and supplies OF sugar
and mOlasses and to make all such con-
tracts ard expenditure of money, as may,
in any way, be, or become necessary incl
dental or useful in the accomplishment of
the declared main objects and purposes OF
this corporation.
Article Iv.-Al citation and other legal
process issuing from the courts against this
corporation shall he served upon its presi-
dent or in his absence. either upon its vice
president, or its secretarytreaSurer, at the
dOmicie of the corporation; or such SER
vices may be made upon any other person
who may be designated for that purpose by
I ie board OF directors of said corporation.
Article V.-The amount of the capital
stock OF this corporation shall be two hun
thOnSln1 dollars lNDtNl
vided into Cwo thousand shares (2.000) OF
the par value of one hundred dollars CSlOO)
each. As soon as three hundred and fifty
shares (3J0l Of its capital stock, represent
ing thirty-five thousand dollars CS35,OOOD
shall have been subscribed this corporation
shall have the right to organize and com
mence business. Certificates of stock shall
not be issued unless they shall be fully paid
for in money. notes secured hy stock OF the
company, or otherwise or for property sold
said company, or services rendered TO II.
Stock of this company shall be transferable
only on the books of the company on sur
render OF the outstanding certificates duly
endorsed or with power of attorney. Until
such transfer the company shall be entitled
to treat the registered shareholder as the
owner of this stock for all purposes.
No stock shall be sold or transferred I'M
til II Is first offered in writing to the cor
poration at the then book value which book
value shall be ascertained by the Board OF
Directors, at a special meeting called for
that purpose, and held within thirty days
from the date of such notice. The said
corpora ton to have thirty days option on
stock so offered from date of said notice
and any stakeholder or stockholders shall
have the absolute right and privilege to
purchase said stock at Its book value, as
ascertained by the Board OF Directors, upon
the corporation declining same, before said
stock can be sold to anyone not a stock
holder OF said corporation: and no sale or
the stock of said corporation shall be ef-
fective unless said stock shall have been
first offered for sale to the said corporation
or its stockholders, as above set forth, and
by them declined.
The capital stock of this corporation may
be increased or decreased as provided by
law. and in the event OF said capital stock
being increased, the then stockholders shall
have the right to take the shares of the
increased stock in proportion to the number
of shares then owned by them.
The Board of Directors shall have the
power to sell and reissue the shares OF
stock. which shall be purchased by the cor
pOration, under the provisions above set
forth. or for any cause, by resolution OF the
Board. at its then book value, but not less
than par and in that event same shall be
first offered to stockholders Of record. as
above provided. with regard to Increase or
capital stock. And provided, further, that
no purchase of the stock Of said corporation
shall ever be made, except out of such sur
plus funds as the corporation may then own.
ARTICLE Vino stakeholder of this cor
pora ton shall ever he held liable for the
contracts or faults of this corporation In
any further sum than unpaid balance due
by him on the shares of stock subscribed
for by him: nor shall any mere informality
in organization have he effect Of rendering
this charter null or Of exposing any stock
holder to any liability beyond the amount
of his unpaid stock subscription.
ARTICLE VII-All the powers OF this
corporation shall be vested In, and exercised
by a board of not less than three 90 d.
rectors the directors shall be elected by bal
lot at an annual general meeting OF the
held after notice published In
one Of the daily newspapers OF New Or
leans. once a week for thirty days or by
written notice mailed to each stakeholder
st his last known address. The first OF the
said annual general meetings shall be held
on the first Monday In July, 1914.
At such meetings, every stakeholder shall
be entitled to cast In person or by proxy,
one vote for each share of Issued and out
standing stock held by him, for the election
OF each director. and the candidates whom
receive the greatest number of votes shall
he elected The rules governing the annual
election shall be fixed by the Board of Dir
ectors at its first meeting.
If the annual meeting shall not be held
on the day fixed by the Charter, Il shall be
held as soon thereafter as possible, after
due notice given as above. Special meet.
ings of the board Of directors may be called
AT any time. on the order Of the president.
The Board OF Directors shall meet regularly