The herald., 1913-06-19

CHARTER OF d. C. BUTTS SPECIALITY
COMPANY.
UNITED STATES OF AMERICA, STATE
OF LOUISIANA, PARISH OF Or
LEANS.
Be 1t known that on this fourteenth day
of MAY, In the year of our Lord one thou
sand nine hundred and thirteen, before me,
Scott Il: Beer, notary public In and Tor
the parish of Orleans, state OF louisiana,
duly commissioned, sworn, and qualified, and
in the presence of the witnesses hereinafter
named and undersigned, personally came and
appeared: the several persons whose names
are hereunto subscribed, all OF the age of
ma jority who declared that, availing them
selves of the provisions of the laws OF this
| state relative to the organization of corpo-
rations, they hereby form themselves into
and constitute corporation for the objects
and purposes, and under the stipulations
| hereinafter set forth.
| ARTICLE 1.-The name and title of this
corporation shall be ID. G. BUTTS SPECIAL
TY COMPANY, and by that name 1t shall
enjoy succession for the term of 80 years
| from the date hereof unless sooner dissolv-
| ed. 1t shall have power to sue and be sued
to borrow money, hold, purchase, lease, sell
and hypothecate real and personal property
to make and use corporate seal; to name
and appoint directors, managers and agents
and to establish such bylaws, rules and reg
ulations for the management Of the business
necessary, the same to alter at pleasure
also to make and issue bonds and other evil
dence Of debt, and to secure same by mort
gage or otherwise.
| ARTICLE 1.-THE domlcile Of this cor
poration shall be in the city of New Or
leans, and all citations or other legal pro
cess shall be served on the president or, In
his absence, on the vice-president.
| ARTICLE III.-The objects and purposes
OF this corporation are to acquire by pur
chase or otherwise United States and foreign
velties. To manufacture, use and sell such
novelties made under said patents, and tC
grant licenses to manufacture and sell under
any such patents owned or controlled by
this company. To experiment upon and test
the value or validity Of any patent right
the company may acquire or proposes Il
acquire, and generally to do whatever !:
necessary and incident to the character Of
the business to be conducted by this corpo
ration.
ARTICLE Iv-(a) The capital stock o.
this corporation shall be twenty thousand
hundred shares (2Oo) Of the par value o.
one hundred dollars (s100) per share. On'
hundred shares shall be preferred, and thu
other hundred shares shall be common stock
soon as one hundred shares OF the stock
common or preferred, shall have been sub
(bS All stock shall be paid for in cash o.
(cJ The holders Of preferred stock shall
be entitled to a cumulative dividend OF 81,
per cent per annum payable out Of any AM
all surplus or net profits, at such times a
i the directors may fix.
| (d) After the dividend provided for II
the preceding paragraph Is fully paid,
dividend of not more than six per cent pc
annum shall be paid on the common stock.
(e) When the dividend provided for II
the preceding paragraph Is paid. all othe
profits shall be shared alike between tn
preferred and common stock.
Il (fD No stock shall be transferred excep
upon the books of the company, and n
Istockholder shall be liable for any contract
or faults Of this corporation, In any furthe
sum than the unpaid balance on his respect
i've shares.
ARTICLE VA All the powers of TIL
corporation shall be vested in board OF d
rectors composed of three directors, two 0
whom shall constitute quorum for tn
transaction OF business. They shall cleo
from their number a president, yice-pres
dent and secretary-treasurer.
(b) The first board of directors shall cor
sist Of d. G. Butts, ]. d. Tschopik and
Edmund Kells, with ID. G. Butts as pres
dent and manager, c. Edmund Kells as vice
lpresident, and J. d. Tschopik as secretary
treasurer.
(c) They shall hold their Office until tn
lsecond Monday In January, 1915, or unit