The herald., 1913-11-27

No stock of the company can be bought
in by any PLEDGE, except upon the above
conditions, and provided the board of di-
rectOrs do not resolve TO purchase the
same at its book value within the period
named. No stock can be transferred under
any conditions unless the transfer be made
upon the books Of the company at its Of
tce in the city of New Orleans, Louisiana.
This corporation shall be authorized 10
commence business as soon as twenty thou
sand dollars (S20.0OO) of the capital stock
shall have been subscribed for.
Article V.-All the corporate powers of
said corporation shall be vested In board
of directors consisting of five directors.
without the necessity Of any authorization
or ratification OF their action by the stock
holders. The said board to be composed
of stockholders, and except the first, which
annually on the third Tuesday in June in
each year after the year 1915. Directors
shall have the right to vote on said board
in person or by proxy. Said board shall
bylaws for the government and regulation
of the company and its affairs and business
and TO conduct the same and appoint all
subordinate officers and agents necessary TO
that end; and said officers and agents are
only to be employed at the will of the
board. All elections shall be held at the
office of the company annually, beginning
on the third Tuesday in June. 1916, under
the supervision of two commissioners to be
appointed by the board Of directors. Ten
DAYS notice Of such election shall be given
by written notice sent to stakeholder at
his last address and the mailing of said no
tice shall constitute proof OF service, and
the directors then elected shall serve until
their successors are elected and qualified
A majority Of the votes cast shall elect and
one vote shall be allowed for each share
of stock represented by the holder in person
in said board from any cause whatever shall
be filed by the remaining directors. ma
jority of the directors shall constitute a
quorum for the transaction Of business. The
81 1t - hot WaW.av d.,
each year shall elect out of their own mum.
Der a president and a vice-president and
shall appoint secretary and treasurer,
who may or may not be members of the
board, and from time to time appoint such
officers. clerks, managers and agents as may
be deemed necessary for the business and
purposes OF said corporation and dismiss
Article vI-The following persons, to.
wit w. =. Hayne. J. L. Bryan, Bryan Bell
J. B. Ardis and Thomas Crichton, with W
7. Hayne as president. J. /. Bryan as vice
president, and Bryan Bell as secretary and
treasurer shall constitute the first board
Of directors and shall hold ofice until the
third Tuesday in June 1916, or until their
Article vII-whenever this corporation
Is dissolved, whether by limitation or from
any other cause, its affairs shall be liqui-
dated by the board OF directors. at gen;
eral meeting of the stockholders convened
after thirty (30l days prior notice and on
the assent Of the majority In amount OF
the capital stock. The said board shall
act as commissioners and shall remain In
Office until the affairs OF the corporation
have been fully liquidated. Any vacancy
occurring In their number from any cause
whatever shall be filled by the remaining
members of the said board, who shall more
over during such vacancy continue to act
Article VIII.-No stakeholder shall ever
be held liable or responsible for the con-
tract or faults of such corporation In any
further sum than the unpaid balance due
20 the company on the shares owned by
him nor shall any mere infOrmality In or
ganiZation have the effect of rendering this
charter null or of exposing stakeholder 10
any liability beyond the amount OF his
stock.
Thus done and passed, in my office, at the
city Of New Orleans on the day and In the
month and year herein first above written;
in the presence OF A. Miles COe and Paul
Chasez. competent witnesses, who have here
unto signed their names, with the said ap.
bearers and me, notary. after reading OF
the whole Original signed)
A. Miles Coe, Paul ChaseZ.
PHILIP GENSLER. Jr., Notary Public.
/, 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 Or
leans Cotton Oil Mill was this day duly
recorded in my office, in book l119. folio -.
New Orleans, November II. 1913.
(Signed) EMILE ]. LEONARD, ID. X.
A true copy with the names of subscrib-
ers and number of shares subscribed for by
each omitted.
PHILIP GENSLER, JR., Notary Public.
nov 81 OF doc II Is d 1913