The herald. [volume] (New Orleans, La.) 1905-1953, 1913-03-20

stock. On the final liquidation or the cor
poratiOn, all arrears of dividends II any,
Shall be paid TO the holders of the pre-
ferred stock, and the preferred stock shall
be paid In full before any payment she'll bel
made to the holders of the common sock
but when such arrears of dividends and the
face value Of the preferred stock shall haze
been paid, the holder thereof shall receive
no other or additional payments whatever,
but the balance of the assets of the cOrp0r-
alton shall belong entirely TO the holders
of the common stock.
The preferred and common stock of this
corporation shall be issued only for cash,
services rendered, or property actually re-
ceived by the corporation and when issued
shall be fully paid and worcestershire. When
ever shares of stock are paid for in SER
vices rendered or property received the said
services or property must have value
equivalent to the face value of the stock
issued for them.
Each share Of common stock issued by this
corporation shall be entitled to one vote
whenever voting is necessary for any pur-
pose. The preferred stock shah have no
voting power at all, the entire management
of the corporation is hereby vested in the
owners Of the common stock.
No transfer of stock will be recognized ny
! the corporation unless ii be made on the
books Of the corporation by the owner in
person or by written power of attorney, and
all certificates of stock shall be signed oy
such officers as may be designated by the
! board of directors.
ARTICLE V.
All the corporate powers Of this corpora
| tion shall be vested in and the management
and control of its affairs shall be exercised
| by board of seven directors, composed of
| stockholders, a majority of whom shall con-
| sttute a quorum for the transaction of all
| business. The directors shall be elected an
nually by ballot by the stockholders on the
| second Tuesday OF January of each year.
! Each stakeholder shall be entitled to one
vote for each share of common stock held
and owned by him, either in person or by
proxy. All elections shall be held after ten
| days prior notice by mail shall have been
| sent to each stakeholder at his last known
| address. Failure to elect directors on the
| date specified shall not act as a forfeiture
OF this charter, but the directors then in
| office shall act until their successors shall
| have been duly elected and qualified. Any
vacancy occurring on said board from any
cause shall be filled by the remaining direc-
| tors for the unexpired term.
Immediately upon the signing of this
| charter the stockholders shall meet and
| elect seven directors who shall serve until
the election OF their successors, TO be held
| as herein provided.
Said board OF directors and all succeeding
boards shall, at their first meeting, elect
from their number president, viceLpresident
secretary and treasurer. The directors OF
this corporation shall have the right to an.
point and dismiss such clerks, managers and
other employees of the corporation as con.
dtions may Justify or the business of the
corporation may require. The tenure OF
corporation
shall be during the pleasure Of the board d
directors. Any Of the directors shall hays
the right to appoint by written instrument
another director or stakeholder to act as hi,
ings of the board Of directors
!, ARTICLE VI
2 ThlS act or corporation NAV be changed
modified or altered, or this corporation MAJ
I De dissolved with the assent OF three fourt m
or the capital stock present or represented
, at general meeting of the stOckholder
e convened Tor that purpose after ten day
, prlor notice OF such meeting shall have beer
!, given Dy publication In one of the dali,
V newspapers three times during said ten days
= ARTICLE VII
!, Whenever this corporation Is dissolved
d either by limitation Of its charter, or fror
: any other cause, its affairs shall be liam
?, dated by three commissioners TO be electe
c from among the stockholders at a penera
? meetlng OF the stockholders convened 10
d o1aL purpose, after thirty days prior motto
C Oh SAID meeting shall have been given h
, publication in one Of the daily newsnaner
IS published in this city, once a week durin
Z SAID thirty days. Said commissioners sba
e. remain In office until the affairs of the co
IS Poratloh are liquidated In case of IN
20 death or either of said commissioners m
)f survivors shall continue to act
tol ARTICLE VIII.
pr NO stockhoider of this corporation sba
v ever Oe neld responsible for the contracts :
le faults thereof, in any further sum than ~
Id unpaid balance due the corporation on ~
e shares owned by him, nor any mere inforn,a
e, lty In the organization have the effect
IN rendering this charter NULL nor OF exnosir
in stOckhOlder TO any liability bevond n
H. amount of his stock. u
4 ARTICLE TX.
Is ms corporation shall commence I'm,
r. ness ana become a going concern as soon
nd Yen thousand (Sl0000) dollars of the ca
70 'taI STOCK shall have been subscribed for
r. mus done and passed. in NV nota ri
Is once az New Orleans, aforesaid. in the nre
n euce OF WIN: n. Wenck and John DryvS
nv e1mpeteht witnesses of lawful age and :
n SUING IN this city, who hereunto snhscri
nc Ineir Names together with the said narti
DIS snu me, notary, on the day and data
Pr iOI'h IN thte caption hereof
n original signed: Names of suhscryha,
let Witnesses w. A Wenck. John DIVER
WIN. RENAUDIN, Not. P1h
.ss l. l. ine Undersigned recorder of mort1ao
IRE IN ana Tor The parish of Orleans sta7a
nv LOUISIANA, do hereby certify that the a6o
OF anu ag foregoing act OF incorporation of =
he rlueIIty Lumber Company was this dav ar
Of 'eVoruer OF mortgages thereto amended
Sc N NsW orleans, March II. 1913.
.ty ISiSnedD EMILE LEONARD n ID
cerIIy the foregoing and within TO
a. uue anu correct copy OF the original s
bis Uo Incorporation OF the Fidelity LumI
of Solpany, together with the certificate OF !
ch saeecOrder OF mortgages theerto appended
ed ME ana or record In my office.
be IN 1alth whereof l hereunto SET nv ba
of anu seal THIS 18th day OF March, A. n 10
nd ~ WIN. RENAUDIN, Not Pub
me