The herald., 1913-04-24
TIL HER AID

the said capital stock, must be subscribed
and paid for before the corporation can or
ganize and become a going concern. The
remaining shares OF said stock, shall be Is,
sued by the board OF directors as they shall
deem fit and proper.
cash, property received, or labor performed,
and must be fully paid for before the issu-
ance of the certificate therefor, and shall be
worcestershire.
certificates and transferable only on the
books of the corporation, on the surrender
of the outstanding certificate, or due proof
Of loss. 3.
must be first offered In writing, and at Its
book value, to the board of directors, or
this corporation, who shall have the option
Of purchasing same, at the said BOOK NaIue.
at the time the said stock is offered; and
should the directors fail TO make the pur-
chase of the said stock within fifteen l1I)
DAYS from the time of offer, then the holder
and owner of the stock may dispose OF 1t
in the open market.
The said capital stock Of this corporation
may be increased or diminished by proceed
ngS taken in accordance with the laws OF
the state of Louisiana.
ARTICLE V.
The officers of this corporation shall con
Sist OF Il president, a yicc-preSdent, and n
ACCOMPLISHMENTS general manager, all or
whom together shall constitute a board
a quorum, for the transaction of business,
and all corporate powers shall he vested In
and exercised by the said board Of directors.
The first board OF directors shall consist
of ]. J. Weinfruter, Sr., as president. r. ..
CreSap, as yicc-preSldent and Phil L. CreSap,
OBSERVATION-DISCLOSURES and general manager ;
said board shall serve until their successors
are duly elected and qualified, on the second
Thursday in April, 1914.
The said board OF directors shall be elect
ed annually thereafter, on the second Thurs
day of April, OF each year, or as soon there
after as possible, at a stockholders meeting
convened for that purpose.
Each share OF stock shall be entitled to
one vote, TO be cast by the stakeholder,
either by person or proxy, the majority of
the stockholders or stock present, or repre-
scented by proxy shall elect. The annual
meeting for the election OF the board of
directors shall be preceded by ten (1O) days
notice mailed &c each stockholder to attend
said meeting.
ARTICLE VI.
The secretary treasurer general manager
shall keep a set OF books, showing the daily
receipts and disbursements of the funds OF
this corporation, and shall make deposit of
receipts In such bank that may be desig-
mated by the board OF directors. All checks
or vouchers issued against the funds Of this
corporation shall be signed by the president
and by the secretary treasurer general man
ager.
ARTICLE VII.
No stakeholder shall ever be liable or re-
sponsible for the contract, or faults of this
corporation. nor shall any mere informality
in organization have the effect OF rendering
this charter null. or of exposing a stock
holder to any liability beyond the amount
due on his capital stock.
ARTICLE VIII.
This act of Incorporation may be changed.
altered or modified, or the corporation may
be dissolved with the assent of threy fOurths
Of the stock represented at a special meeting
called for that purpose after its objects
have been made known by ten (10) days
previous notice In writing, delivered or
mailed each stakeholder, and upon comply
ing with the laws OF the state of Louisiana.
Whenever the corporation is dissolved. its
affairs shall be liquidated by two commits
sioners elected by the stockholders of this
corporation.
Thus done and passed. In my office, in
the city of New Orleans, on the day, month
and year first herein above written, In the
presence of William +. Cakes and Joseph
Murray competent witnesses. who have here
unto signed their names with the said ap-
bearers, and me- notary, after due reading
of the whole.
Original signed: ]. ]. weinfruter. ST..
20 shares f. o. Cresap. 10 shares Phil =.
Cresap, 800 shares; Julius Forsyth, share
VIM. F. Cakes ]. Murray.
ED. Z. FOLEY, Notary Public.
l the undersigned recorder Of mortgages
In and for the parish OF Orleans, state OF
Louisiana, do hereby certify that the above
and foregoing act of incorporation of the
FhH I. Cresap Co.. Ltd, was this day duly
recorded in my office, In book loss, folio
324.
New Orleans April 4, 1913.
(Signed) EMILE LEONARD, ID. R.
l, the undersigned notary public. do here
by certify the above and foregoing TO be a
true and correct copy of the act of incor.
poration of the Phil T. Cresap Co., Ltd
and of the certificate of the recorder OF
mortgages.
ED. p FOLEY. Notary Public
apr II "a may l 10 30 1913