The herald., 1913-11-20

! nov y IL ~ = dec !
CHARTER
! OF TIE HUB CLOTliiNG COMPANY.
/ State OF Louisiana. Parish of Orleans. City
! Of New Orleans.
BE it known. that on this tenth day OF
| the month Of November, in the year Of
| our Lord. Nineteen hundred and thirteen
| and Of The independence Of the United States
| OF America the one hundred and thirty.
| eighth, before me, j. Henry FOrcclle. Jr,
| Il notary public. in and for the parish OF
| Orleans state Of Louisiana. aforesaid, duly
! commissioned, sworn and qualified and in
! the presence Of the witnesses hereinafter
| named and undersigned, personally came
! and appeared: the several persons whose
! names are hereuntO subscribed, who sever.
! ally declared that, ayaillnS themselves OF
| the provisions of the laws of the state of
Louisiana relative TO corporations, partic-
ularly Act No. IS Of 1904, they have GOV
| enantcd and agreed and by these presents do
! covenant and agree and bind themselves, as
well as all such persons who may hereafter
hecum" associated with them, TO form and
constitute a corporation and body polite in
| law, for the objects and purposes, and un-
| der the articles and StipulatiunS hereafter
! set forth and expressed, which they hereby
adopt as their charter towit
Article FirSt.-The name Of this COrpOr-
! alton shall BE- the "IIub Clothing Company
and under its said corporate name II shall
| have power and authority 10 have and en-
| JOY corporate existence and succession for
| the full term and period Of ninety-nnc years
| from and after the date hereof unless soon
er dissolved; TO contract, sue and be sued {:
TO make and use corporate seal and the
same TO alter and break at pleasure; TO
hold. receive. accept lease. purchase, own,
ALLEVIATE. convey, mortgage, hypOthecate.
pledge or otherwise dispose of or euCum-
Der property, both real and personal to
name and appoint such officers, managers,
directors, agents and employees as the in
tcreSt OF said corporation may require; to
make and establish such bylaws, rules and
regulations as may be necessary and proper.
and the same to alter, amend and abolish
at pleasure.
Article Sccond-The domicile of this cor
poratiOn shall be in the city Of New Or
leans, state of Louisiana, and all legal pro
cess shall be served upon the president Of
said corporation and in his absence upon
the vice-preSident or secretary.
Article Third.-The objects and purposes
for which this corporation is organized and
established and the nature of the business
TO be carried on by II are hereby declared TO
be: Buying and selling at wholesale and
retail! of clothing and gents furnishing
goods and the manufacturing and tailoring
Of clothing and the conducting Of a general
clothing and gents furnishing goods bust
ness in all its branches.
Article FOurth.-The amount of the cap
ital stock of this corporation is hereby fixed
at the sum of fifty thousand dollars $780,
100000 which shall be divided into com
mon and preferred stock. OF the common
there shall be $50 shares OF the par value
Of one hundred dollars each and Of the pre-
ferred there shall he $50 shares Of the par
value of one hundred dollars each. The
said $50 shares of preferred stock shall be
entitled TO receive dividends at the rate OF
eight per cent per annum, payable semi
annually on the first Of January and on
the first of July OF each year out of the
earnings of said corporation. before any
dividend shall be paid upon the said com
mon stock, and such dividends shall be
cumulative so that any deficiency In the
dividends to be paid on said preferred stock
in any year shall be made good out Of the
earnings of subsequent years before any
dividends shall be paid upon the said COM
mon stock.
And in case the earnings of the corpor-
alton shall permit n dividend In excess Of
said eight per cent so to be paid semi-annu-
ally, the said excess earnings wholly or
in part as the directors may deem advisa-
bic, shall be paid to the common stock
holders, and on the final liquidation and
the distribution of Its assets, arrears Of
dividends shall be paid to the holders OF
ferred stock shall be paid In full before any
payment shall be made to the holders OF
the common stock, but when such arrears
OF dividends and the face value Of such
preferred stock shall have been paid the
holders thereof shall receive no other or ad-
ditonal payments whatever.
The said preferred and common stock may
be issued for cash or its equivalent, real
disc. goods, chattelS, labor done or services
actually performed for said corporation, or
such other property as the board Of direc-
This corporation shall become a going
concern as soon as the entire amount OF
it's, capital stock shall have been sub
No transfer Of stock shall be binding
upon the corporation unless made upon its
books, in person or by proxy. No stock:
holder shall have the right to sell any Of
the shares held by him without having first
offered the same to the corporation, through
its board of directors, and said board shall
have the privilege Of purchasing said shares
within five days thereafter, for cash at the
book value, and all shares thus purchased
may he re-iSSued.
Article Fifth-An the powers of this
corporation shall be vested in a board OF
directors, composed OF not more than five
nor less than three stockholders. At the
annual election in each year the stOckhOld
erS shall have the right TO fix the number
within the limitations herein established
to compose the board for the ensuing year.
The board OF directors shall fix the num-
Der necessary to constitute quorum Of the
board.
Said board Of directors shall be elected
annually on the first Monday Of November
in each year: all said elections shall be by
ballot. and shall be held and conducted at
the office of the corporation, under such
rules and regulations as may be established
by the hoard OF directors; ten days prior
notice of such election shall be given by
written communication addressed 10 the
stockholders at their last known place Of
residence,
At all such elections and at all corpor-
ate meetings every stakeholder shall be en-
standing in his name on the books Of said
corporation, whether common or preferred.
TO be cast by him In person or by proxy, and
the majority of such votes cast shall elect.
Any vacancy occurring among the direc-
tors Of said corporation. whether by death.
resignation or otherwise shall be filed by
election for the unexpired term by the re-
naming directors failure to elect direc-
tors on the date above specified shall not
dissolve the corporation or impair its ex-
istence or management, but the directors
then In office shall remain In office until
their successors shall have been duly elect
ed and qualified.
The officers Of this corporation shall con-
sist Of a president, vice-president. secretary
and treasurer, the secretary and treasurer
may be combined in one person. The pres
ident and vice-president shall be stock
holders In the corporation; these officers
shall be elected by the board Of directors.
The following shall be the first board of
directors Michel Der, VI. David Haspel and
John d. Hunter, with Michel Der as presi-
dent, NJ. David Haspel as vice-president and
John d. Hunter, as secretary-treasurer, and
they shall hold office until the first Mon.
n - l.,