The herald. [volume] (New Orleans, La.) 1905-1953, 1913-12-18

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-
ditional payments whatever.
The said preferred and common stock may
be issued for cash or its equivalent, real
estate, bonds, notes, good Will, merchan-
disc goods, chattels, labor done or services
actually performed for said corporation, or
such other property as the DOaId OF uIFcC-
This CORPORATION shall become a going
concern as soon as the entire amount OF
its 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 10 sell any or
the shares held by him without having first
offered the same TO the corporation, through
its board OF directors. and said board snail
have the privilege OF purchasing SAID sna re,
within 1--WE days thereafter, for cash at the
book value and all shares thus purchased
Article Fifth.-An the powers OF this
CORPORATION shall be vested In board or
directors, composed OF not more than hye
nor less than three stockholders. At the
annual election in each year the stOckhold-
prs shall have the right 10 fix the number
within the limitations herein established
TO compose the board for the ensuing year.
The board OF directors shall fix the mum
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 sucn
rules and regulations as may be established
by the board 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 stockholder shall be en-
81 TaI share STOCK
standing in his name on the books or 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 hiled 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 It's eG
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, yice-president, secretary
and treasurer, the secretary and treasurer
may be combined In one person. The pres
ident and vlce-pCesident 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 ID. Hunter, with Michel Der as presi
dent, VI. David Haspel as vice-president anG
John D. Hunter. as secretary-treasurer and
they shall hold once until the first Mon
day Of November, 1914, at which time the
| first election under this charter is TO b.
held or until their successors shall have
been duly elected and qualified.
The board Of directors may, from time &c
time, name and appoint all such managers
agents, employees, servants and clerks a;
| IL may deem necessary for the purposes OF
the corporation and shall have the power
10 fix and define the duties Of every ofhcer
agent manager, employee, servant or clerl
and they shall hold office and employment
at the pleasure OF the board.
The board OF directors may make and
establish, as well as alter and amend all by
laws, rules and regulations deemed proper
| in its judgment for the conduct and man
| agement OF the business and affairs OF saic
corporation.
Article Sixth.-wheneve this corporation
may be dissolved. either by limitation oil
otherwise, its affairs shall be liquidated by
| three liQuidating commissioners, TO be ap
| pointed for that purpose from among tht
| stockholders Of the corporation, at a gen
| for that purpose. OF which meeting notice
shall be given by publication, for not les
| than ten days prior thereto, In newspaper
published In the English language In th'
city OF New Orleans, and written motto,
| given and mailed TO the last known address
| OF each stakeholder ten days prior to salt
capital stock OF said corporation represent
ed at such meeting shall be required Z
elect: said liquidating commissioners shall
| remain In Office until the affairs Of salt
| corporation shall have been llquidated. II
case OF death OF one or more OF said com
mlssioners the vacancy shall be filed b!
| election from among the stockholders b,
| the surviving commissioners.
| Article Seventh.-This act OF incorpora
| ton may be modified, changed or altered
or this corporation may be dissolved witt
| the assent Of three-fourths OF the capita
| stock represented at a general meeting o
| the stockholders convened for such pur
pose. and after notice shall have been givel
In one or more newspapers published In IN
English language In the city of New Or
ceding the meeting, and by written notice
| given and mailed to each stakeholder at hi
last known address, thirty days prior T.
| the date of meeting.
Any changes proposed or made In refer
| ence TO the capital stock shall be made II
accordance with the laws of the state o
Louisiana on the subject OF altering tn
Article Eighth.-No stakeholder shall
ever he liable for the contracts or fault
| OF said corpora ton In any further sum thai
the unpaid balance due the corporation oil
any informality In organization have tn
effect OF rendering this charter null or o
| exposing or subjecting stockholder to an.
| liability beyond the unpaid amount due OF
| his stock.
| The subscribers to stock In this corpor
| alton have signed the hereto attached sub
| ScrlpIlO0 USI TOT I0e amount set OppOSlu
| their names said subscription list Is here
to attached and forms part Of this char
1 ter.
Thus done and passed, in my Office, a
the city OF New Orleans, on the day. mont
and year herein first above written, in pres
| ence OF Messieurs Guy ]. Neral and Ernes
| L. Trouard competent witnesses, who hay
hereunto signed their names with the sal
appearers and me, said notary after du
| reading Of the whole.
| Original signed Michel Der, VI. Davi
Haspel, John ID. Hunter. Witnesses: Guy
Neral, l. z. Trouard
| J. Fl. FORCELLE, JR, Not Pub.
I, the undersigned recorder Of mortgage
In and for the parish of Orleans, state o
Louisiana, do hereby certify that the abov
and foregoing act Of Incorporation of tn
| Hub Clothing Company" was this da
duly recorded in my office, in book 111f
folio 235
New Orleans November II. 1913.
(Signed) EMILE J. LEONARD, ID. +
I, the undersigned notary public, do hert
by certify that the above is a true and col
rect copy of the original act Of incorport
tion Of the Hub Clothing Company" e
gether with the certificate OF the recorde
OF mortgages thereto attached, on file an
Of record In my ONCE.
| New Orleans, November II, 1913
J. II. FORCELLE, JR., Not. Pul
y nov 10 90 27 dec 4 IL 10