The herald. [volume] (New Orleans, La.) 1905-1953, 1913-05-29
CHARTER OF ID. G. BUTTS SPECIALITY
COMPANY

CHARTER OF ID. G. BUTTS SPECIALITY
COMPANY.
UNITED STATES OF AMERICA, STATE
OF LOUISIANA, PARISH OF OR
LEANS
Be 1t known, that on this fourteenth day
of May, in the year Of our Lord one thou
and nine hundred and thirteen, before me,
Scott f.. Beer, notary public In and for
the parish OF Orleans state OF Louisiana,
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, all OF the age of
ma jority, who declared that, ayailing them
selves Of the provisions of the laws of this
state relative 10 the organization of corpo-
rations, they hereby form themselves into
and constitute corporation for the objects
and purposes, and under the stipulations
hereinafter set forth.
ARTICLE 1.-The name and title OF this
corporation shall be ID. G. BUTTS SPECIAL
enjoy succession for the term Of 90 years
from the date hereof, unless sooner dissolv-
ed. 1t shall have power TO sue and be sued,
to borrow money. hold purchase, lease, sell
to make and use corporate seal to name
and appoint directors, managers and agents,
and to establish such bylaws, rules and reg
ulations for the management of the business
and affairs OF said corporation as may be
necessary, the same to alter at pleasure:
also to make and issue bonds and other evil
gage or otherwise.
ARTICLE 1.-THE domicie Of this cor
poration shall be in the city Of New Or
leans, and all citations or other legal pro-
cess shall be served on the president or, In
his absence, on the vice-president.
ARTICLE IIl.-The objects and purposes
OF this corporation are to acquire by pur-
chase or otherwise United States and foreign
letters patent for any and all kinds Of no
velties. To manufacture use and sell such
novelties made under said patents, and to
grant licenses to manufacture and sell under
this company. To experiment upon and test
the value or validity of any patent right
the company may acquire or proposes to
necessary and incident to the character Of
the business to be conducted by this corpo-
| ration.
| ARTICLE Iv.-(a) The capital stock OF
this corporation shall be twenty thousa nd
dollars (s2O,O00). to be divided into two
hundred shares (20O) Of the par value of
one hundred dollars $1,000 per share. One
other hundred shares shall be common stock.
The corporation shall be a going concern as
soon as one hundred shares Of the stock,
common or preferred, shall have been sub
(bl All stock shall be paid for in cash or
Its equivalent.
(cy The holders of preferred stock shall
De entitled to cumulative dividend of SIX
per cent per annum payable out of any and
an an surplus or net profits, at such times as
the directors may fix.
. (d) After the dividend provided for in
the preceding paragraph Is fully paid, a
dividend OF not more than six per cent per
annum shall be paid on the common stock.
Il -, (e) When the dividend provided for In
the preceding paragraph is paid, all other
profits shall be shared alike between the
preferred and common stock.
Il f) No stock shall be transferred except
upon the books of the company and nc
stakeholder shall be liable for any contracts
Tor faults of this corporation, In any further
sum than the unpaid balance on his respect
i've shares.
ARTICLE va All the powers of thi,
, corporation shall be vested in a board of di
rectors composed of three directors, two o.
! whom shall constitute quorum for thu
transaction of business They shall cleo
from their number a president, vice-presi
, dent and secretary-treasurer
! lo) Inc first board Of directors shall con
SYST OF ID; q: Butts, ]. ID. Tschopik and c
Edmund Kells, with d. G. Butts as presi
dent and manager c. Edmund Kells as vice
/ president, and j. ID. Tschopik as secretary
treasurer.
lcl They shall hold their office until tn,
second Monday In January, 1915, or until
their successors have been elected. AM
, failure TO hold an annual meeting shall no
cause forfeiture of this act of incorpora
ton, and any vacancy in the board OF direc
; tors, from any cause shall be filled by tn
rema ming directors.
I'D The board of directors shall appoin
such agents and managers as the bushes
charge them at pleasure; 1t shall adopt sucl
bylaws and rules for the conduct of tn
business of the corporation as 1t may seen
) meet; 1t shall fix the time and place of al
= meetings of the stockholders and of tn
I BOARD; except as herein otherwise provided
: ana snail determine the manner in which al
, ings.
ARTICLE yI.-On the second Monday 4
every January, beginning with Januar
i9i3, there shall be held meeting of stock
holders to elect directors for the ensuin
year, which meeting shall be called afte
thlrty days notice, said notice to be depos
lted In the mall, postage prepaid, and d.
: rected to each stakeholder at his or he
last known address. At said meeting sal
directors shall be elected by ballot, and
, majority Of the votes cast shall be necessra
to elect, and each share Of stock shall b
entitled to one vote, and the shareholde
shall vote In person or by written proxy
lrectors.