The herald. [volume] (New Orleans, La.) 1905-1953, 1913-05-29
CHARTER
OF KRAUSS BROTHERS LUMBER
COMPANY

COMPANY.
United States of America, State of LOuisi
ana Parish of Orleans.
Re Ii known, that on this eleventh day
OF the month of April In the year or our
Lord one thousand nine hundred and thir-
teen, before me. Herman Michel, notary
public duly commissioned and qualified, In
and for the parish of Orleans, state of Lou
isiaDa, and In the presence OF the witnesses
hereinafter named and undersigned person
ally came and appeared the persons whose
names are hereunto subscribed, all above the
full age of majority, who declared, that
availing themselves OF the provisions OF the
general laws OF this state relative to the or
ganization OF corporations, they have cove
nanted and agreed and do by these presents
covenant and agree, and bind, form and con-
stitute themselves, as well as such other
persons as may join or hereafter become as
ISOLATED with them, into a corporation and
body polite In law, for the objects and pur-
poses and under the agreements and stipu-
lations following, to-wit:
Article 1.-The name and title OF the
corporation hereby formed Is declared TO
be Krauss Brothers Lumber Company, and
under that name VI shall have and enjoy
the rights, advantages and privileges granted
by law to corporations. 1t shall exist for a
period OF ninety nine years from this date,
and shall have power and authority to con-
tract: TO sue and be sued to make and use
a corporate seal, and the same TO change or
alter at It's pleasure: TO hold, receive, pur-
chase convey, mortgage, hypothecate or
pledge property. both real and personal, and
IL shall also have power to issue bonds,
notes and other obligations or negotiable
instruments: and 1t shall also have power
to employ such managers, directors, officers,
agents and other employees, as the interest
and convenience of said corporation may re-
Quire and also to make and establish such
bylaws, rules and regulations for the cor
porate management and control OF the af-
fairs OF the corporation as may be necessary
or appropriate
Article 1.-THE domicile OF said corpora
ton shall be in the city Of New Orleans,
state OF Louisiana, and all citations or other
legal process shall be served upon the pres
ident OF said corporation, or in his absence
upon either Of the vice presidents, or in the
absence OF the president and both vice-presi-
dents, then upon the secretary-treasurer of
said corporation.
Article III.-The objects and purposes for
which this corporation Is created. and the
nature OF the business to be carried on by
Il, are hereby declared to be as follows: To
buy, sell and generally TO deal In all kinds
of timber, logs, lumber and other merchan.
disc accessory 10, or necessary In conjunc-
ton with, the lumber business, both retail
and wholesale: to lease purchase. hold, sell,
assign. mortgage and convey all forms OF
property, whether real or personal, within
the state OF Louisiana or elsewhere; also 10
build and operate sawmils and planning mills
and any kind of woodworking plants for the
manufacture OF any and all kinds OF wood
into manufactured products, and for said
purpose TO construct tram roads, railroads
and other means of transportation, TO oper.
ate the same and TO do such other things as
may be necessary for the conduct OF gen.
eral milling and manufacturing business
and particularly for the manufacturing OF
lumber lathes, shingles, sash, doors. blinds
and wood into turned work. and other mer
charitable products and to do every other
thing and act necessary TO. convenient for. OF
appropriate in, the accomplishment of the
aforesaid purposes.
This corporation may conduct It's business
oil 80 lee I-or Oh lssS&A L., a =.
state OF Louisiana or any of the severa
states or territories OF the United States o.
America, and TO have power to hold. pur
chase. mortgage and convey both real ant
territories.
Article Iv.-The capital stock of this cor
poration Is hereby fixed at three hundred
thousand $4,000. O00.00l dollars, divided int,
and represented by three thousand "a, 600
shares OF the par value OF one hundre,
SiO0.00) dollars each. Said corporation
shall be going concern as soon as one hun
dred thousand $500. 0OO.OO) dollars OF II
capital stock shall have been subscribed for
or the stock so authorized TO be issued
one thousand 1,000) shares amounting Il
one hundred thousand $500. 000.00) dollars
shall he preferred stock. and two Thousand
l2OOO) shares. amounting to two hundred
thousand (s20O. OOO. OO) dollars. shall be com
mon stock. Each share OF the common ant
preferred stock shall be entitled to one vot,
In person or by proxy at all meetings OF the
elotkHOiuerS.
The amount OF the preferred stock shall
not be increased as hereinafter provided
and shall be issued only upon the terms
conditions. limitations and provisions fol
lowing. to-wit:
l.. The holders of said preferred stock
shall be entitled TO receive out OF the net
profits of the business a fixed and deter.
mined dividend at the rate OF seven (7co J
per cent. per annum on the first day of April
of each year, beginning with the list OF April,
1914, before any dividend can be set apart
for. or paid on, the common stock, for the
period Heretofore elapsed. The principal
or par value OF said preferred stock. with
seven (1oo) per cent. dividends and six per
cent. 1901 interest on arrears. from the
time that they shall have become due. shall
ne paid In full out of the assets of the COM
pany. In preference TO the common stock,
In the event OF any liquidation Of the COM
pany, whether said liquidation be through
Insolvency, receivership or the termination
OF Its corporate existence or for any other
cause, before any distribution Of the capital
or surplus shall be made to the holders Of
the common stock