The herald. [volume] (New Orleans, La.) 1905-1953, 1913-07-31

the constitution and laws Of the state OF
! Louisiana.
Article 1.-THE domicile OF this corpor.
alton shall be in the city Of New orleans in
| the parish of Orleans and state Of Louisiana.
| Article lII.-The objects and purposes for
| which this corporation is formed and the
nature Of the business TO be carried on by
| IL are hereby declared to be To store, or 10
| buy and sell, and otherwise deal in. mo
| lasses and sugar and to that end to buy.
erect lease, or TO own and operate, such
buildings or plants as may be necessary or
| Of use In the storing and handling OF mo-
| lasSeS and sugar, the property Of others, or
| Of this company; and 10 operate such stor-
age building as private or as public ware
houses; 10 own, or to lease, and operate
barges or barge lines, or tank cars, or other
means Of transporting and handling mo-
laSSeS and sugar; 10 advance or loan money
on molasses or sugar held in storage or
otherwise secured: to erect canning plants
at such points as the board OF directors may
determine for the canning Of syrup and
molasses and TO dispose Of the products
thereof. To spend money in experiments
as to the best methods and packages in
which TO store, handle or distribute mo-
laSSeS and sugar: to gather and distribute
tion as TO the prices and supplies OF sugar
and mOlasses and TO make all such con-
tracts and expenditure of money, as may,
in any way. be, or become necessary incl
dental or useful In the accomplishment OF
the declared main objects and purposes OF
this corporation.
Article IV.-All citation and other legal
process issuing from the courts against this
corporation shall be served upon its presi-
dent or in his absence, either upon its vice
president, or it's secretary-treasurer at the
domicile Of the corporation or such ser
vices may be made upon any other person
who may be designated for that purpose by
Ie board OF directors Of said corporation.
Article V.-The amount Of the capital
stock OF this corporation shall be two hun
vided into two thousand shares (2,000) of
the par value Of one hundred dollars ($100)
each. As soon as three hundred and fifty
shares (350) of its capital stock, represent
ing thirty-five thousand dollars 1885, 0OO)
shall have been subscribed this corporation
shall have the right to organize and com
mence business. Certificates of stock shall
not be Issued unless they shall be fully paid
for in money, notes secured by stock OF the
company, or otherwise or for property sold
said company, or services rendered to It.
Stock of this company shall be transferable
only on the books of the company on sur.
render Of the outstanding certificates duly
endorsed or with power OF attorney. Until
such transfer the. company shall be entitled
to treat the registered shareholder as the
owner OF this stock for all purposes
No stock shall be sold or transferred IN
til It Is first offered in writing to the cor
poration at the then book value which book
value shall be ascertained by the Board of
Directors. at a special meeting called for
that purpose. and held within thirty days
from the date of such notice. The said
stock so offered from date of said notice
and any stakeholder or stockholders shall
have the absolute right and privilege to
purchase said stock at Its book value, as
ascertained by the Board Of Directors. upon
the corporation declining same, before said
stock can be sold to anyone not a stock
holder Of said corporation and no sale OF
the stock of said corporation shall be ef-
fective unless said stock shall have been
first offered for sale to the said corporation
or Its stockholders, as above set forth, and
BY them declined
The capital stock of this corporation may
be increased or decreased as provided by
law, and in the event OF said capital stock
being Increased, the then stockholders shall |
increased stock in proportion to the number |
Of shares then owned by them.
The Board of Directors shall have the
power to sell and reissue the shares Of
poration, under the provisions above set
forth, or for any cause, by resolution of the |
Board. at its then book value, but not less
than par and in that event same shall be
first offered to stockholders of record. as
above provided. with regard to Increase OF
capital stock. And provided, further. that
no purchase Of the stock Of said corporation
shall ever be made, except out Of such sur
plus funds as the corporation may then own.
ARTICLE VINO stakeholder OF this cor
ooration shall ever be held liable for the
or faults of this corporation In
my further sum than unpaid balance due
or by him; nor shall any mere lnformality
n organization have he effect Of rendering
his charter null or of exposing any stock
holder to any liability beyond the amount
# his unpaid stock subscription.
ARTICLE VII.-All the powers Of this
corporation shall be vested in, and exercised
" a board of not less than three (3) d.
'ectors the directors shall be elected by bal
OF at an annual general meeting OF the
ockholders, held after notice published In
me Of the daily newspapers OF New Or
cans, once a week for thirty days, or by
written notice mailed to each stakeholder
t his last known address The first Of the
aid annual general meetings shall be held
n the first Monday in July, 1914.
At such meetings, every stakeholder shall
e entitled to cast In person or by proxy,
ne vote for each share Of issued and out
landing stock held by him, for the election
Z each director, and the candidates whom
eceiye the greatest number of votes shall
e elected The rules governing the annual
lection shall be fixed by the Board of Dir
ctors at it's first meeting.
II the annual meeting shall not be held
n the day fixed by the Charter, Ii shall be
ED as soon thereafter as possible, after
ne notice given as above. Special meet
1gs of the board of directors may be called
any time. on the order of the president
he Board Of Directors shall meet regularly