The herald. [volume] (New Orleans, La.) 1905-1953, 1913-06-26
CHARTER OF STERNS AUCTION EN-
CHANGE.
STATE OF LOUISIANA, PARISH OF OR
LEANS CITY OLE NEW ORLEANS.

n,
| LEANS. CITY OF NEW ORLEANS.
Be 1t known, that on this 10Th day Of the
month Of May, 1913, before me, Scott L.
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 a corporation for the objects and pur-
poses and under the articles and stipua-
tions following, to-wit -
| ARTICLE 1.-The name Of this corpora
ton shall be STERNS AUCTION En-
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 domicile 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
to hold, 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
and employees as the business, interests and
convenience Of said corporation may re-
lquire; to make, and establish such bylaws
rules and regulations for the said corpora.
ltlon as may be necessary and proper, and
the same to alter and amend at pleasure
legal process shall be served on the presi
secretary and treasurer Of this corporation
ARTICLE III.--The purpose for which
this corporation is established and the ma
ture of the business to be carried on by 1,
are hereby declared to be to sell, at Its
place of business or elsewhere, at public
and at private sale, through any Of its. Of
hcers, agents or employees, property owner
or to be owned by this corporation or any
lone else. Of every kind, nature or character
and to carry on the business Of a private
warehouseman and to do all things and
acts necessary and proper to accomplish tn,
ARTICLE IV.-The capital stock of thil
corporation Is fixed at the sum of ten thous
and dollars (s10, 000) to be represented BY
hs6dFed shares Of the par value Of on
only for cash or its equivalent, and for moi
This charter shall be In full force and
soon as three thousand dollars CSC, OOO) o.
its capital stock shall have been subscribed
for.
Any stakeholder Of this corporation may
sell or 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. Tn,
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 b,
sees at, provided no stakeholder has exer
cised the said privilege herein given him
Transfers Of stock shall be made only OF
the books Of this company, subject to tn,
regulations as the board Of directors ma!
prescribe
ARTICLE v.-All the corporate power
of the corporation shall be vested In boar
Of directors to be composed Of three stock
holders Of this corporation, any two o
whom shall constitute a quorum for tn
transaction of the business and AFFAIRS o
this company. The board Of directors shall
be elected annually on the first Monday o
June. The first board of directors shall b
! elected at a meeting Of stockholders to b
, held Immediately after the signing and re
: cording of this charter. The board Of d.
rectors shall elect from its number, a pres
dent, a vice-president and a secretary an
treasurer. All directors shall hold ofic
J until their successors are elected and quail
fled, and all elections shall be by ballot q
( the ONCE Of this corporation under the 81
pervision of three commissioners appointe
by the said board Of directors. Such ele,
> ton shall not be held without q notice 9
ten days In writing, to each stockholder,
his last known address. Each etockhold<