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

the constitution and laws of the state Of
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 III.-The objects and purposes for
which this corporation Is formed and the
nature OF the business to be carried on py
II are hereby declared TO be To store. or TO
buy and sell, and otherwise deal In, mo-
laSSeS and sugar and to that end to buy,
erect lease, or 70 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 TO operate such stor-
age building as private or as puD!lc ware
houses; to own, or to lease and operate
barges or barge lines, or tank cars. or other
means OF transporting and handling mo-
lasses and sugar; to advance or loan money
on molaSses Jr 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
to it's stockholders or customers informa-
tlon as to the prices and supplies or sugar
and molasses; and to make all such con-
tracts and expenditures 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
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 its secretary-treasurer, at the
domiclle OF the corporation; or such ser
vices may be made upon any other person
who NAV be designated for that purpose by
t re board OF directors OF said corporation.
Article V.-The amount OF the capital
stock OF this corporation shall be two hun
dred thousand dollars (S2OO,OOO.OO al.
yided into Cvo thousand shares (2,O00l OF
the par value OF one hundred dollars CS1OO)
each. As soon as three hundred and nfty
shares $500 Of its capital stock, represent
ing thirty-five thouserd dollars (S35,O0O)
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 10 IL.
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 I'M
| 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 stockholder or stockholders shall
| have the absolute right and privilege 70
| 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 stock
| holder Of said corporation; and no sale OF
the stock of said corporation shall be ef
| fectIve unless said stock shall have beer
| 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 shal
have the right to take the shares OF I'M
| increased stock In proportion TO the NUMBER
| of shares then owned by them.
! The Board Of Directors shall have tht
| power to sell and reissue the shares OF
stock. which shall be purchased by the cor
| 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 D'
| first offered to stockholders OF record. a.
above provided. with regard to increase, o.
| capital stock And provided, further, thai
| no purchase OF the stock OF said corporauol
shall ever be made, except out OF such sur
| plus funds as the corporation may then own
ARTICLE Vino stakeholder OF this cor
poration shall ever be held liable for tn
| contracts or faults OF this corporation II
any further sum than unpaid balance hce-, 1n'
for by him: nor shall any mere informant!
in organization have he effect OF RENDERING
this charter null or OF exposing any stock
holder to any liability beyond the amour
| of HIS unpaid stock subscription.
| ARTICLE VIT.-All the powers or TIL
i corporation shall be vested in, and exercise.
by a board of not less than three 90 al
rectors the directors shall be elected by bal
lot at an annual general meeting or tn
stockholders. held after notice published Il
one of the daily newspapers or New Or
leans, once a week for thirty days, or b.
written notice mailed to each stockholde
at his last known address. The first or IN
said annual general meetings shall be mel
on the first Monday in July. 1914.
At such meetings, every stockholder shal
be entitled to cast In person or by proxy
one vote for each share OF issued and oul
standing stock held by him, for the electlo
of each director, and the candidates wnor
receive the greatest number OF votes shal
be elected The rules governing the annua
election shall be fixed by the Board of Dill
ectors at its first meeting.
II the annual meeting shall not be mel
on the day fixed By the Charter, II snail D
held as soon thereafter as possible, afte
due notice given as above. Special NEE
ings of the board Of directors may be Gale
at any time, on the order OF the president
The Board Of Directors shall meet REGULAR
| = ~. 49, Hapdav ~ ZACH manth.