The herald., 1913-11-13

ACT OF INCORPORATION OF LOUISIANA
TIMBER COMPANY.
STATE OF LOUISIANA. PARISH OF OR
LEANS. CITY OF NEW ORLEANS.
BE It known. That. on this the 27th day
~ the month Of October, IN the year OF Our
Lord, one Thousand, Nine Hundred and
Thirteen, and ~ the Independence OF the
United States OF America, the one hundred
and thirty eighth, before me, Charles r.
Flrtchiugcr, a notary public, duly commits
stoned and qualified In and for the city,
Parish and State aforesaid. therein residing,
and I'm the presence OF the witnesses herein
after named and undersigned, personally
came and appeared the several persons
who's" names are hereuntO subscribed, who
declare that 3Yaiiing themselves OF the pro-
visions Of the laws Of this State relative
To the formation and organization OF COrpOr-
ationS, they have CDyenantei and agreed,
ana DO, by these presents. covenant. agree
ana bind themselves, f9r the purposes here.
matter stated, as well as those who may
hereafter become associated with them, 10
form themselves into a corporation for the
objects and purposes, with name and under
IN" StipulatiOns following. to-wit:
ARTICLE 1.-The name and style Of this
corporation shall De LOUISIANA TIMBER
COMPANY, and by said corporate name Il
shall nave succession and enjoy existence for
"A period Of ninely-nine years. unless sooner
dissolved, in the manner provided by law and
the articles Of this charter: ana, under said
corporate name, il shall have power and
authority to contract, sue and De sued 10
make and use corporate seal. the same
To alter or break at pleasure TO make all
necessary rules and regulations for its cor
pOrate management and control and shall
have and enjoy all the rights. privileges and
Immunities which are now conferred upon, or
may hereafter be granted to, corporations of
the sam" kind and character.
ARTICLE 1.-THE domiCile OF this cor
poratiOn shall he in the city OF New Or
leans, State OF Louisiana, and all citations
and other legal process shall be served upon
the President, or. in his absence or inability
to act, upon any other officer of the cor
pOratiOn.
ARTICLE III.-The objects and purposes
for which this corporation is organized are
hereby declared to he 70 buy and sell timber,
lumber and timber lands; 10 acquire. main
tain and operate Sawmills and plants for the
manufacture Of timber into lumber; to ac-
quire. maintain and operate logging rail
ways for The purpose OF transporting logs
from the forest to saw mills TO acquire, by
purchase, lease or otherwise, timber and
other lands and 10 mortgage or otherwise
cucumber the same at pleasure, and to do
and perform all things incidental or germane
to he objects and purposes above expressed.
corporation shall be Fifty Thousand Dollars
100000, divided into five hundred (5OOD
shares OF the par value Of One Hundred
Dollars 100000 each: said stock shall be
Issued only for cash or in payment Of prop
erty or services actually received by or rem
dered TO said corporation. This corporation
shall commence business and become a going
concern as soon as -Four Thousand Dollars
OF its capital stock shall have been subScrib-
Ell and paid in the residue of said stock to
he issued and payment made therefor subject
OF the action and call of the Board of Direc-
tors said stock shall be fully paid at the
time OF its issuance and thereafter be non
aSSeSSahle, and the capital stock NAV be
increased or decreased in the manner pro-
yided by the laws of this State
The parties TO this Act declared that they
hereby subscribe for the number Of shares Of
said capital stock set opposite their respec-
tive signatures hereto, so that this Act OF
scription.
No present or future stakeholder shall ever
validity sell. assign transfer. other than
by inheritance. any of the capital stock of
this corporation. until the same shall have
been first offered to the remaining stock
holders for the benefit Of thost stockholders
VINO may desire to purchase the same
through the Board of Directors for period
OF ten days, al the book value, as shown by
me books OF the corporation, on the date
the last inventory was made preceding the
date OF such offer. 1t shall be the duty OF
Ine board OF Directors, promptly, upon re-
celvlnS an offer Of sale, OF any of the canitsI
stock OF the corporation, to communicate the
same TO the stockholders in writing through
the secretary of the company, and each OF
suNh >lOtkuOluerS snail be entitled 10 mr.
chase such proportion of the stock so offered
Tor sale, as to the number Of shares owned
ny MIN al the time bears to the number
owned by all other stockholders desiring to
participate in the purchase.
ARTICLE N.-All the powers Of this cor
poratlOn shall be vested In and be exercised
by board Of three directors. TO be elected
eacn year ny the stockholders at the annual
meeting; the said directors shall he bona
hde stockholders, and the first board shall
consist OF Henry ID. Richardson, who shall
oe president and general manager: William
S,., I,aSi VINO snail be vice-president; ]. G.
TN The first Tuesday in October. 1914. and
annually thereafter. except when such dav
snail fall on legal holiday. then on the
next succeeding layday, the stockboIderS
snail elect a board OF directors for the on
suing year, the board already Installed 70
continue to hold over until their successors
are are elected and qualified. The board OF
directors so elected shall select from tbeir
own number the officers of the cOrnoration
VINO snail he president, who shall be also
general manager; vice-president and a
secretary treasurer. The election of direct
ors shall be by ballot and the persons 70.
ceiving the largest number of votes cast shall
DE elected. For electing directors or for
any other purpose, each share of stock.
.;tIr present or by proxy, shall be en-
Titled to one vote: and a majority OF votes
cast snail be required to pass any resolution
or decide any question submitted 70 the
siockholders, except for the alteration or
- Vi TINS cnarter, or the diSSolu-
vided. pro-
The said board OF directors shall have
PoNeF ana authority TO make all necessary
rules and regulations for the management
operation and control OF the business 90 The
corporation: as well as to make all necessary
rules ana bylaws, with power to FIJI any
vacancy occurring in their numebr A ma
Jorlty OF the Directors voting at any one
Ilne, IN person, or by proxy shall be re-
CURED 10 pass any resolution or adopt any
BYLAWS ana which, when so adopted. shall
become valid corporate acts
ARTICLE VI-Notice of all MEETINGS az
stockholders for electing directors or for
any other purpose, shall be given. in writ
ing; Dy the secretary, to be deposited in the
man, AT least ten days before such meeting
directed 10 each stock holder at his last
Known address, appearing upon the hooks
OF me corporation, unless said notice ia
waved IN writing by all the stockholders
appearing as such upon the books
ARTICLE VII.-This act of Incorporation
may De modified, added TO, changed or
or this corporation NAV he dis
solved, by and with the assent OF the holders
OF three-fOurths in amount Of its then ont
standlng capital stock, given at general
meeting or the stockholders of the corpora
non, 10 he convened for such purpose, after
ten days prior notice. to be given In one
OF the daily newspapers published in the
Clty or New Orleans, in addition to the
notice 10 the stockholders, as provided in
Article VI of this charter.
ARTICLE Nlll.-Whenever this cOrnOra-
ton is dissolved, either by Limitation az its
charter or from any other cause, its affairs
ana business shall be liquidated by three
commissioners. to be appointed from among
me stockholders at a general meeting there