The herald. [volume] (New Orleans, La.) 1905-1953, 1913-07-10
CHARTER

CHARTER
OF THE CANE PRODUCTS COMPANY.
United States Of America, State Of LouiSi.
ana, Parish Of Orleans, city of New Or
leans
Re II known. that on this twenty -righth
day of June in the year Of our Lord. one
thousand nine hundred and thirteen and of
the independence of the United states OF
America, the one hundred and thirty seventh.
before me. W. Morgan Gurcy, notary
public in and for the parish of orleans,
state of Louisiana, duly commissioned. quail
ifed and acting as such, and in the pres.
ence OF the two witnesses hereinafter named
and undersigned personally appeared: the
several persons whose names are hereto
subscribed, who severally declared that,
avaling themselves of the provisions OF the
constitution and laws Of the state OF Lou
isiana In such cases made and provided,
they have contracted and agreed, and by
these presents. do contract and agree, obi,
gate and bind themselves as well as all
such other persons as may hereafter become
associated with them, to constitute and form
"A corporation or body polite in law, for
the objects and purposes and under the
agreements and stipulations following, TO-
wit:
Article 1.-The name and title of this cor
poratIon shall be: cane Products Com
pany" and by such name said corporation
shall have succession and corporate exist
ence for and during the full term of ninety
nine years from and after the date or ms
act, unless sooner dissolved, and by said
name Il may contract, sue and be sued IL
shall have power TO make and use cor
porate seal and the same to alter at pleas
ure TO hold, lease, sell, purchase and con
vey as well as mortgage, pledge and hypoth-
ecate under its corporate name. real ana
personal property. 1t shall have power to
borrow money and issue security for the
payment thereof; to make contracts. and TO
name and appoint such directors. managers,
officers, agents and employees as Its inter
ests and convenience may require; to make
and establish bylaws rules and regulations
for the proper mana cement and conduct or
its business and affairs; and also to possess
and exercise all other powers and privileges
which corporations of this kind are. or may
be authorized to possess or exercise under
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 III.-The objects and purposes for
which this corporation is formed and the
nature of the business to he carried on by
IL are hereby declared to be To store. or 10
buy and sell, and otherwise deal In, mo
lasses and sugar and TO that end 10 buy
erect. lease. to own and operate, Sucl
buildings or plants as may be necessary OI
of use In the storing and handling of mo
lasses and sugar, the property of others, Ol
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 othe
means OF transporting and handling mo
lasses and sugar; TO advance or loan none!
on molasses or sugar held In storage o.
otherwise secured: to erect canning plant
at such points as the board Of directors ma!
determine for the canning OF syrup AM
molasses and to dispose of the product
thereof. To spend money in experiment
as to the best methods and packages II
which to store, handle or distribute mo
lasses and sugar: to gather and distribute
to its stockholders or customers informa
tlou as to the prices and supplies of suga
and mOlasses; and to make all such con
tracts and expenditures of money, as may
in any way, be, or become necessary incl
dental or useful In the accomplishment o
the declared main objects and purposes o
this corporation.
Article Iv-An citation and other lega
process Issuing from the courts against TIL
corporation shall be served upon its pres
dent or in his absence, either upon its vice
president, or Its secretary treasurer, at tn
domicile of the corporation; or such sci
vices may be made upon any other perso
who may be designated for that purpose b
{ &c board of directors of said corporation.
Article V.-The amount of the capita
stock of this corporation shall be two hur
dred thousand dollars $500. 0OOOO), d
vidcd into two thousand shares C2OOOl q
the par value of one hundred dollars $500
each. As soon as three hundred and lift
shares (S5Ol of its capital stock, represent
ing thirty-five thousand dollars 1895, 900
shall have been suhscribe1, this corporatio
shall have the right to organize and con
mence business Certificates of stock sha
not be issued unless they shall be fully pal
for In money. notes secured by stock of III
company, or otherwise; or for property sol
said company, or services rendered to 1
Stock of this company shall be transferabl
only on the books of the company on SUI
render OF the outstanding certificates dul
endorsed or with power OF attorney. INT
such transfer the company shall be entite
10 treat the registered shareholder as Oh
owner Of this stock for all purposes
No stock shall be sold or transferred III
I'll II Is first offered in writing TO the co
poration at the then book value which boo
value shall be ascertained by the Board
Directors, at special meeting called f.
that purpose, and held within thirty day
from the date of such notice. The sal
forpora ton TO have thirty days option O
Fstock so offered from date of said notice
and any stakeholder or stockholders sha
nave the absolute right and privilege
purchase said stock at Its book value
ascertained by the Board of Directors, upo
the corporation declining same before sal
stock can be sold to anyone not a stoc
holder OF said corporation: and no sale
the stock of said corporation shall be e
fective unless said stock shall have bee
first offered for sale to the said corporate
or Its stockholders, as above set FORTH an
by them declined
The capital stock Of this corporation ma
be increased or decreased as provided /
law, and In the event of said capital stoI
being Increased the then stockholders sha
have the right to take the shares OF Il
increased stock In proportion TO the numb,
OF shares then owned by them.
The Board OF Directors shall have Il
power to sell and reissue the shares
stock, which shall be purchased by the co
poratlon, under the provisions above 81
forth, or for any cause, by resolution Of III
Board at its then book value, but not les
than par and In that event same shall
first offered to stockholders Of record a
above provided. with regard to increase Q
capital stock And provided, further tina
no purchase Of the stock of said corporation
shall ever be made, except out Of such SUI
plus funds as the corporation may then owl
ARTICLE Vino stakeholder Of this COZ
poration shall ever be held liable for tn
contracts or faults of this corporation Il
any further sum than unpaid balance du
by him on the shares of stock subscribe,
for by him nor shall any mere informalit,
In organization have he effect Of rendering
holder to any liability beyond the amour,
of his unpaid stock subscription.
ARTICLE vIL-All the powers Of this
by a board Of not less than three (3l al.