The herald. [volume] (New Orleans, La.) 1905-1953, 1913-06-05

may II 80 30 june ) II
CHARTER OF STERNS AUCTION EN-
STATE or LOUISIANA. PARISH OF OR
LEANS, CITY OF NEW ORLEANS.
Re il known, that on this 10th day OF the
month OF May, 1913, before me. Scott +.
Beer. notary public in and for the parish
or Orleans, state OF Louisiana, therein re-
siding. duly sworn, commissioned and quail
ned. and in the presence OF the witnesses
hereinafter named and undersigned. person
ally came and appeared the several parties
whose names are hercuntO subscribed as
such, SeVerally declared that ayailing them
selves OF the laws Of the State OF Louisiana
10 such cases made and provided they have
contracted and agreed and do by these
presents, covenant, agree and bind them
selves: ~ well as all such persons shall
hereafter become associated with them 70
form a corporation for the objects and pur-
poses and under the articles and stipula-
lions following, tO-wit =
ARTICLE The name OF this corpora
tins shall be STERNS Auction FX
CHANGE, by which name the said com
panE shall have and enjoy corporate eI-
lStence and succession for the term OF ninety
nine years from and after the date hereof,
uhleSS sooner dissolved. It's dOmicile shall
be- IN the city Of New Orleans. La IL shall
nave power 10 sue and be sued 10 con
tract. 10 make and use a corporate seal
ana me same to break or alter at pleasure
I" mold. receive, lease, purchase sell and
convey, as well as to mortgage and hvpothe-
cate, under Its corporate name, property.
real, personal or mixed 10 borrow and Iani
money, and 10 give and receive securities
therefor, and to make and appoint such
managers. directors, and officers and agents
ana employees as the business, interests and
convenience OF said corporation may rn
qulre: TO make. and establish such bylaws
rules and regulations for the said c0rnora
ION as may be necessary and prOper and
me sane 10 alter and amend at pleasure.
ARTICLE 1I.-All citations and other
leSal process shall be served on the prosI-
dent and in case OF his absence. on tho
secretary and treasurer OF this corporation.
AhIlCLE lll.-The purpose for which
this corporation is established and tho na
lure or the business TO be carried on bv II
are hereby declared TO be to sell at IFS
P pI,ntio Oh business or elsewhere, at public
auction, through duly licensed aucti0ncpr.
anu at private sale, through any OF It's Of
HcerS, agents or employees Dronprty owner
OF 10 be owned by this corporation or any
one else. OF every kind nature ~ cboroctn-
whatsoever, movable immovable or rniyod
ana 10 carry on the business of n privota
warehouseman and to do all things and
OBJECTS herein set forth
ARTICLE IN.-The capital stock OF This
corporation Is fixed al the sum OF ten thous-
ana dollars t$lO,0O0) TO be represented h,
hundred dollars each Stock shall no issynd
only Tor cash or its equivalent, and for not
less than par. IVA "0'
This charter shall he in full force and
Il concern
soon as three thousand dollars CS3 OOO1 OF
Us capital stock shall have been subscribed
Any stakeholder Of this cornoration mo,
sell or assign or transfer his stock provided
Ten clear days prior notice in writing OF
Such intention to sell. assign or transfer
same be given by him to this company. Tn.
company and the shareholders Thereof sboII
nave the first privilege OF purchasing same
after which said ten days notice. the holder
OF the said stock may sell the same as he
sees NJ; provided no stakeholder has exer-
Gised the said privilege herein given him.
transfers OF stock shall be made only on
the DOCKS or this company, subject TO IN.
regulations as the board OF directors NAV
ARTICLE v-An the corporat. mowers
or the corporation shall be vested in a boar
or directors to be composed of three stock
holders OF this corporation, any two OF
Whom snail constitute a quorum for the
transaction OF tho business and affairs OF
this company. The board OF directors shall
ne elected annually on the first Monday of
June. The first board OF directors shall be
elected at a meeting of stockholders TO be
held Immediately after the signing and re-
cOrding OF this charter. The board OF d.
rectors shall elect from Its number, a presi-
dent. vice-president and a secretary and
treasurer. All directors shall hold Office
until their successors are elected and quail
fed, and all elections shall be by ballot at
the office OF this corporation under the su-
peryision of three commissioners appointed
by the said board Of directors Such cleo
tiOn shall not be held without a notice OF
ten days In writing. to each stakeholder, at
shall be entitled to one vote for each and |
every share OF stock standing In his name |
on the books OF the corporation, to be cast |
In person or by proxy in writing, and ma
jority of votes cast shall elect. The direc- |
tors shall NIL any vacancy in their number |
by election by the remaining directors Each |
director must own at least one share OF
stock. Each director shall have power TO |
appoint in writing proxy to represent him |
on the said board of directors said proxy |
TO be stakeholder in this corporation All |
powers vested in this corporation are to be
ARTICLE VI-Whenever this corpora |
ton shall be dissolved either by limitation |
Or otherwise, its affairs shall be liQuidated |
by three commissioners to be appointed by |
the stockholders convened in general meet |
ing, of which said meeting. said stOckhold- |
ers shall be given notice as provided in sec |
ton VII OF this charter, and a majority In |
the said meeting shall be requisite to elect |
and determine. Said commissioners shall |
remain In Office until the affairs OF the cor
poration shall have been fully liQuidated.
ARTICLE yII.-This act OF Incorporation
nav be modified, changed or altered or the
said corporation may be dissolved with the
assent of three-fourths OF the capital stock
at a general meeting OF the
convened for that purpose and
after notice shall have been given to each
and every stakeholder by written notice to
nm duuTtSSeu 10 his ldSC KNOWN address,
mailed TO the said address at least ten days
prior to the date OF said general meeting.
ARTICLE VIII.-No stakeholder shall
ever be held liable for the contracts or
faults OF this corporation in any further
sum than the unpaid balance due the cOrpo-
'ation on the shares OF stock owned by him,
nor shall any mere informallty in organiza-
Ion have the effect OF rendering this char
er null or Of exposing any stakeholder TO
my further liability than the unpaid
AMOUNT due on his stock subscription.
The list of subscribers annexed hereto
'hall serve as the original subscription list
Thus done and passed in this city, In my
,ffice, on the day and date aforesaid in the
presence OF Aessrs. f. NJ. Robert and f.
competent witnesses who have
lereunto signed their names with me, said
notary, and the said appearers, after due
'eading OF the whole.
tSigned) JAG. II. Stern, and others
,Wltnesses) f. Blanchard. f. NJ Robert.
CSeaD SCOTT f. BEER, Not. Pub.
!. the undersigned recorder of mortgages
n and for the parish OF Orleans, state of
do hereby certify that the above
ind foregoing act Of Incorporation OF Stems
Auction Exchange was this day duly record
d In my Office in book 1888, folio 440.
New Orleans, La. May 10, 1913.
(Signed) EMILE J. LEONARD, d. r.
This Is to certify that the above Is a true