The herald. [volume] (New Orleans, La.) 1905-1953, 1913-04-17

poratlons they have covenanted and agreed,
and do by these presents do covenant and
agree, bind, form and constitute themselves
as well as such persons who may hereafter
join or become associated with them. into
a corporation and body polite In law, for
the objects and purposes and under the
agreements and stipulatiOns following, to-
wit:
ARTICLE 1.
The name and style of this corporation
shall be the "bacombe Lumber Company
and under that name il shall have and en-
joy all rights and privileges granted by law
to corporations; it shall exist for the period
or ninety nine years from this day ii shall
nave power 10 contract. sue and be sued in
its corporate name; TO make and use a cor
porate seal and the same to alter at pleas
ure; to hold, receive, purchase, convey.
mortgage, hypOthecate or pledge property,
both real and personal TO issue bonds notes
and other obligations to have and employ
such managers, directors, officers, agents
and other employees as the interest and
convenience Of said corporation may require
ana 10 make and establish such bylaws,
rules and regulations for the proper man
agement and control of the affairs OF she
corporation as may be necessary and expe-
dent.
ARTICLE H.
The domicile of said corporation shall be
in the city of New Orleans, in this state and
all citations and other legal process Shall
the yice-presdent, and in the absence of
both on the secretary and treasurer of said
corporation.
ARTICLE III
The purposes for which this corporation
Is established and the nature of the business
TO be carried on by it are declared TO be: 10
construct, work and maintain railroads, ca
mails, roads, bridges, ferries, telegraph and
telephone lines and other works of improve
ment; TO construct, own, lease, hire, pur-
chase and operate schOonerS. steamboats,,
steamships, tow boats, barges and other
water crafts for the transportation Of
freight and passengers; TO purchase, lease
and sell lands to engage in agriculture; to
acquire, construct, own, lease and operate
planning mills, saw mills, sash, door and
blind factories and turpentine still and re
torts, ETC.. TO construct and TO contract TO
construct buildings of every kind and de
scription; to manufacture bricks, tiles and
other earthenware TO buy, sell and deal for
Its own account or on commission i'll logs,
lumber and other building materials and in
all sorts OF merchandise, and generally to
thing pertaining to the business above emu
merated, connected Herewith or arising
therefrom, in this state and elsewhere.
ARTICLE ".
The capital stock of this corporation Is
hereby fixed at the sum of twenty-five thou
sand ($2J, 100000 dollars divided into and
represented by two hundred and fifty t2JOb
shares OF the par value of one hundred
tS1UO.OOD dollars each, which shall be paid
for in cash when subscribed for or in such
manner as the board of directors shall deS-
ignate, or shall be issued for labor perform
ed, services rendered or for the purchase of
property as said board may elect. All shares
Of stock shall be full paid and nOn-asSeSSa-
bic. Which capital stock may be increased
TO sum not exceeding one hundred thou
sand (S1OO,000.0O) dollars, in which event
during the period between the call for the
meeting for such increase and the meeting,
the persons holding stock at the time shall
have the right to take shares of the add
tiOnal or increased stock propOrtiOnate to
the number of shares owned by them, and
any shares not taken at the expiration of
said period may be disposed OF by the board
of directors for the benefit of the corpora
ton at not elss than their par value. No
transfer Of stock shall be binding upon the
corporation unless recorded upon its books.
ARTICLE V.
All the corporate powers OF this cOrpOr-
alton and the management and control of
its affairs shall be vested in and exercised by
a board of directors composed of three 90
stockholders, majority Of whom shall con-
stitute a quorum for the transaction of all
business. The directors shall be elected an.
nually by ballot by the stockholders, on the
| second Tuesday in January of each year
| Each person shall be entitled in person OF
! by proxy 10 vote for every share owned
| by him, and all elections shall be held under
such rules and regulations as may be deter
mined by the board of directors. The direc
| tors thus elected shall continue in office fol-
one year, or until their successors have beer
| duly elected and qualified. No failure &c
| elect shall be regarded as a forfeiture OF
| this charter. Any vacancy occurring OF
| said board snail be filled by the remaining
directors for the unexpired term. The board
of directors shall at its first meeting after
/ its election nominate out of its number
president, a vice-preSident and a secretary
and treasurer; said board shall have tn,
| right to divide the office Of the secretary anC
| a
need not be a stakeholder, but whose tenure
of Office shall be during the pleasure of tn,
board. And said board shall have the righ
to appoint and dismiss the clerks, managers
secretary and other employees Of the corpor
| alton, as the interests and business of tn,
same may require. Any Of the director.
shall have the right TO appoint by writer
| instrument another director as his proxy
to act in his stead at any and all meetings
of the board of directors.
| ARTICLE VI.
Until the election to be held on the second
| Tuesday in January, 1914, the following
named persons shall constitute the frs
board of directors, viz: Walter W. Care
ID. Beach Care and Tudor B. Care, with
Beach Care as vice-president and said Tudor
b. Care as secretary and treasurer.
| ARTICLE VII.
| No stakeholder shall ever be held liable
or responsible for the contracts, faults and
debts of said corporation, nor shall any
| mere informality in its organization have
the effect of rendering this charter null moi
of exposing a stakeholder to any liability
beyond the unpaid balance due on the shares
owned by him.
| ARTICLE VIII.
| This act of Incorporation may be changed
| modified or altered or this corporation may
| be dissolved with the assent of the stock
| holders owning a majority OF the stock OF
| the corporation, at a general meeting con
vened for that purpose and after at least
ten days written notice of this meeting ha,
been given through mail addressed to eacf
shareholder at his last known place of res
| idence.
| In case of dissolution by the expiration Of
/ this charter or otherwise, the stockholder'
| shall elect three liquidators from amOns
| their number, to liquidate and settle the bus
| mess and affairs Of the company. In cas'
Of death or disability of any one of sale
| commissioners or liquidators, the survivors
or the remaining lqiudators shall appoin
| a successor TO him.
l Thus done and passed In my Office on tn,
1 day, month and year first above written, II
the presence of John A. Todd and Henr!
Keller, competent witnesses, who have signe'
With the appearers and me, the notary, afte
reading the whole.
Signed W. W. Care, so shares; d. Beacl
Care. so shares; Tudor B. Care, so shares
per W. W. Care.
witnesses John A. Todd, Henry Keller
THOS. NJ. BURNS, Notary Public
Il I, the undersigned recorder of mortgage
in and for the parish Of Orleans, state o
Louisiana, do hereby certify that the abov
g. H.. ar10n gNNsnN IN ~