The herald., 1913-08-28
CHARTER

NOMIANl.
United states OF America, state OF LOUIS
ana. Parish of Orleans, 'lty oil Ne" VI
leans. o,- l., , ,I,
month of August. in the year OF our loru
ono thousand nine hundred ana lhlTle'h'
and of the independence of the United states
of America, the one hundred ana thlFl!
eighth, before me- Arthur y Moreno ~
taTv hubble in and for the parish OF VI
leans. state of Louisiana, aforesaid uui!
commissioned and qualined ana IN lhe pr
ence of the witnesses hereLhalL rr ntl'e. i.ad
undersigned personally came ana appedrtu
the several persons whose names are ISle
unto subscribed, who severilly declared thdI
availing themselves of the laws OF me STAR
of Louisiana in such cases made ana pro
yided they have contracted and agreed ana
do by these presents covenant ana asIte
and bind themselves, as wen as al suCI
persons as may hereafter become asSOclalSu
with them to form a corporation Tor the Cd
iects and purposes and under the articles
and stipuatiOns following, to-wit
Article THE name OF said corporation
shall be Gulf Coast Transportation Com
pany and under its said corporate name
shall have the power and authority 10 haNG
and enjoy succession LOT lhe luIi d g g'l
period of ninety nine years from ana alIer
the date hereof; 10 contract, sue anu ue
sued: to make and use corporate seal ana
the same to break or alter at pleasure, 10
hold receive. lease, purchase ana convey
as well as mortgage and hypothecate, prop,
erty, real personal and mixed, corporeal ana
incOrpOreal to name and appoint such man
y,
business interests and convenience may
require and to make and establish, as well
as alter and amend, from time TO time, such
bylaws rules and regulations for the proper
Government of the affairs of said corpora
tfon as may be necessary and proper
Article 1.-THE domicile OF said cOrpor-
alton shall be in the city OF New dreams u.
state of Louisiana, and all citations or
other legal process shall be served upon the
president Of said corporation, or IN the even
of his absence upon the vice-presluent Ihet s
Al, Al, n Int a
GERS upon the secretary of said corporation.
Article III.-The objects and purposes Tor
which this corporation Is established anu
the nature of the business 10 be carried On
by II are hereby declared and speclhed 10
be the transportation or persons ana prop
erty for hire on the waters or the Gun "
Mexico and Its adjacent lakes, pays anu
navigabe streams; and TO that end; 10 own;
charter or lease all boats propelled by san
or steam or other power, tugs, DarSes anu
vessels of whatever description 10 con con
warehouses and all other appurtenances nee
essary. convenient and proper to sucn trans,
portation business; and generally 10 nolg
and exercise all such incidental powers ana
privileges as relate to the objects and priv
ileges hereinabove set forth.
All OF the above corporate functions may
be performed both in the state or Louisiana
and in any Of the other states Of the Union
Article iV.-The capital stock of this cor
poration Is hereby fixed at the sum OF ont
hundred thousand (S10O,000l dollars TO b.
divided into and represented by one thou
sand shares Of stock OF the par value OF on
hundred dollars each. Said stock shall b.
paid for in cash, at such time, in sucl
amounts and after such notice to the sub
scribers as may be fixed by the board o
directors; or the same may be issued n at no o
property actually received or purchased b.
said corporation.
Said corporation shall become a goini
concern and be authorized to do business a
soon as three thousand dollars (S3,OOOl o
its capital stock shall have been subscribed
for.
bred thousand dollars shall have been issued
no holder Of any of said stock, without tn
consent of the board of directors expressed
by a formal resolution TO that effect, shall
sell or dispose OF the same to any person
not a stakeholder In the company until III
shall have offered said stock for sale, at thu
price bona fde offered to him by any non
stakeholder, TO the board Of directors of thu
company who shall have the right to bu!
said stock at such offered price for the ben
eft of the other stockholders In the com
pany and to distribute the same pro rats
among such stockholders This clause shall
be expressed on the face OF every certificate
Of stock and the officers Of the company shal
have no power to transfer on the books o.
the company any stock disposed OF In yio
lation Of this provision OF the charter.
In case OF any increase Of the capital stool
such increase shall have the preferential
right to subscribe at par for any such in
crease pro rata to their respective holdings
Article V.-All the corporate powers o.
said corporation shall be vested In and ex
ercised by the board of directors, to be com
posed of eight (S) stockholders, to be elected
annually on the second Monday of October
In each year. except the first board of di
rectors appointed In this charter who shall
hold their offices until the second Monda!
in October 1914 All such elections shall
be by ballot and conducted at the office o
said corporation under the supervision o
three commissioners TO be appointed by tn
board OF directors. Notice of s1ch election
shall be given by publications not more thai
fourteen nor less than ten days prior {,
such election In one newspaper published Il
the city of New Orleans.
Every stakeholder shall be entitled to on
vote for each share of stock standing in hi
name on the books Of the company, TO b
cast In person or by proxy, and a majorit.
of the votes cast shall elect.
Any vacancy occurring among the d
rectors by death, resignation or otherwis
Of the term Of the board by the remaining
directors; but the affirmative vote OF a
least five directors shall be necessary to I'll
any such vacancy. failure to elect direC
tors on the date above specified shall no
dissolve the corporation. but the director
then In Office shall remain in office unit
their successors are elected and qualified, an
shall cause another election to be held a
soon as possible thereafter after motto
thereof shall have been given in one news
paper published In the city of New 0rlean
Five directors shall constitute a quorum
for the transaction OF any business.
The board Of directors hereafter electe,
shall select from their own number a pres
ident, q vice-president, a secretary, an as
sistant secretary and treasurer, and tn
said board shall have the power either {,
combine or separate the offices Of secretar!
and treasurer. II may appoint from TIM
to time such other officers, clerks agents o.
other employees as II may deem necessar,
for the purposes and business Of the saiC
corporation, who shall hold Office at tn,
pleasure OF the board.
The president, or acting president of tn,
company shall, subject to the control of the
board of directors of the company, have pow
er to institute and defend all suits In which
the corporation Is interested, and to give
all bonds necessary and proper In the pros
ecution or defense OF such litigation.
The said board of directors may make
and establish. as well as alter and amend
any and all bylaws, rules and regulations
necessary and proper for the support and
management Of the business and affairs OF
the corporation. The said board shall have
full power and authority to borrow money
issue notes or other obligations in the ordi-
nary course Of business, and generally to
do all things reasonable or necessary for
the proper carrying on of the business of
the corporation; and also to issue and de-
liver full paid shares Of stock for cash, or
In payment of labor done or property actu-
ally received or purchased by the said cor