The herald., 1913-06-12
| CHARTER OF STERNS AUCTION EN-
CHANGE.
STATE OF LOUISIANA, PARISH OF OR.

LEANS, CITY OF NEW ORLEANS.
Be it known, that on this 10th day OF the
month of MAY, 1913, before me-, Scott f..
Beer, a notary public In and for the parish
Of Orleans state Of Louisiana, therein re-
siding, duly sworn, commissioned and quail
fed, and in the presence of the witnesses
hereinafter named and undersigned, person
ally came and appeared: the several parties
whose names are hereunto subscribed as
such, severally declared that availlng them
selves OF the laws Of the State of Louisiana
in such cases made and provided, they have
contracted and agreed and do, by these
presents, covenant, agree and bind them
selves. as well as all such persons as shall
hereafter become associated with them. to
form corporation for the objects and pur-
poses and under the articles and stipua-
lions following, to-wit -
| ARTICLE 1.-THE name Of this corpora
/ tion shall be STERNS AUCTION EN-
CHANGE, by which name the said COM
pany shall have and enjoy corporate eX-
istence and succession for the term OF ninety
nine years from and after the date hereof,
unless sooner dissolved. Its domicie shall
be In the City Of New Orleans, La. 1t shall
have power to sue and be sued, to con-
tract, to make and use a corporate seal.
and the same to break or alter at pleasure !:
10 mold, receive, lease, purchase. sell and
convey, as well as TO mortgage and hypothe-
cate, under Its corporate name, property.
real, personal or mixed; to borrow and lend
money, and to give and receive securities
therefor, and TO make and appoint such
managers, directors. and officers and agents
anu eliplotees as tne business, interests and
convenience OF said corporation NAV re-
qulre; TO make, and establish such bylaws
rules and regulations for the said corpora
ton as may be necessary and proper, and
the same TO alter and amend at pleasure
ARTICLE U.-All citations and other
legal process shall be served on the presi-
dent and In case OF his absence. on the
secretary and treasurer OF this corporation.
ARTICLE l1I.-The purpose for which
this corporation Is established and the ma
ture or the business TO be carried on by It
are hereby declared to be to sell, at IL.
place Of business or elsewhere. at nubIic
auction, through a duly licensed auctioneer.
and at private sale, through any OF its of
ncers, agents or employees property owner
or to be owned by this corporation or any
one else, OF every kind. nature or character
whatsoever, movable, immovable or mixed
and to carry on the business Of n private
warehouseman and to do all things and
objects herein set forth
ARTICLE IV.-The capital stock of this
corporation Is fixed at the sum OF ten thOus-
and dollars (S10.00O) to be represented by
hundred dollars each. Stock shall be issued
only for cash or its equivalent, and for not
less than par.
This charter shall be in full force and
soon as three thousand dollars (S3 OOOl OF
It's capital stock shall have been subscribed
for
Any stakeholder OF this corporation NAV
sen OF assign or transfer MS stock provided
ten clear days prior notice in writing of
such intention to sell, assign or transfer
same be given by him to this company The
company and the shareholders thereof shall
have the first privilege OF purchasing same,
after which said ten days notice, the holder
OF the said stock may sell the same as he
sees ut, provided no stakeholder has exer-
cised the said privilege herein given him.
Transfers Of stock shall be made only on
the books OF this company, subject TO the
regulations as the board OF directors may
prescribe.
ARTICLE v.-All the corporate powers
Of the corporation shall be vested In a board
Of directors to be composed Of three stock
holders OF this corporation, any two Of
whom shall constitute quorum for the
transaction of the business and affairs OF
this company. The board Of directors shall
be elected annually on the first Monday of
June The first board Of directors shall be
elected at a meeting OF stockholders to be
held Immediately after the signing and re-
cording Of this charter. The board OF d.
rectors shall elect from its number, a presi-
dent, vice-president and a secretary and
treasurer. All directors shall hold ONCE
until their successors are elected and quail.
fed, and all elections shall be by ballot at
the Office of this corporation under the su-
pervision of three commissioners appointed
by the said board Of directors. Such cleo
ton shall not be held without q notice of
ten days In writing, to each stakeholder, at
bis last known address. Each stakeholder
shall be entitled to one vote for each and
every share Of stock standing in his name
on the books Of the corporation, to be cast