The herald., 1913-12-04
CHARTER

w. MORGAN GURLEY,
(Sean Not. Pub.
nov 6 IL 90 81 dec II
CHARTER
OF THE HUB CLOTHING COMPANY.
State OF Louisiana, Parish Of Orleans, City
OF New Orleans.
Be it known, that on this tenth day of
the month OF November in the year of
our Lord Nineteen hundred and thirteen.
and Of the independence OF the United States
OF America the one hundred and thirty
eighth, before me, ]. Henry FOrcelle. Jr..
notary public, in and for the parish of
Orleans, state OF Louisiana, aforesaid, 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 who sever
ally declared that, ayailing themselves OF
the provisions OF the laws OF the state of
Louisiana relative TO corporations, partic-
ularly Act No. as OF 1904, they have Gov
enanted and agreed and by these presents do
covenant and agree and bind themselves, as
well as all such persons who may hereafter
become associated with them. 10 form and
constitute a corporation and body polite in
law, for the objects and purposes, and I'M
der the articles and stipulatiOns hereafter
set forth and expressed, which they hereby
adopt as their charter, to-wit
Article First-The name Of this cOrpOr-
alton shall be the Hub Clothing Company"
and under Its said corporate name ii shall
have power and authority TO have and en-
joy corporate existence and succession for
the full term and period of ninety-nine years
from and after the date hereof, unless soon
er dissolved; to contract, sue and be sued :;
TO make and use a corporate seal and the
same to alter and break at pleasure; to
hold. receive. accept, lease, purchase. own
ALLEVIATE, convey. mortgage, hypothecate.
pledge or otherwise dispose Of or encum-
Der property. both real and personal; to
name and appoint such officers, managers,
directors, agents and employees as the in
tereSt of said corporation may require; TO
and Slcl bV-llWS
regulations as may be necessary and proper.
and the same to alter, amend and abolish
al pleasure.
Article Second-The domicile of this cor
poratiOn shall be in the city OF New Or
leans, state of Louisiana, and all legal pro-
cess shall be served upon the president Of
said corporate and in his absence upon
the cepresident or secretary.
Article Third.-The objects and purposes
for which this corporation Is organized and
established and the nature of the business
be Buying and selling al wholesale and
retail of clothing and gents furnishing
goods ana the manutacturlnS ana tailoring
Of clothing and the conducting Of general
clothing and gents furnishing goods bust
ness in all its branches.
Article FOurth.-The amount of the cap
ital stock OF this corporation Is hereby fixed
at the sum of fifty thousand dollars $780,
0OO.OO) which shall be divided into com
mon and preferred stock. OF the common
there shall be $50 shares OF the par value
of one hundred dollars each and OF the pre-
ferred there shall be $50 shares of the par
value of one hundred dollars each: The
entitled to receive dividends at the rate of
eight per cent per annum. payable semi
annually on the first of January and on
the first Of July of each year out Of the
dividend shall be paid upon the said com
mon stock, and such dividends shall be
cumulative so that any deficiency in the
dividends to be paid on said preferred stock
n made n q
earnings of subsequent years before any
dividends shall be paid upon the said COM
mon stock.
And in case the earnings of the corpor-
alton shall permit dividend In excess of
said eight per cent so to be paid semi-annu-
ally, the said excess earnings. wholly or
in part as the directors may deem advisa-
Bile, shall be paid to the common stock
holders, and on the final liquidation and
the distribution Of Its assets, arrears OF
dividends shall be paid to the holders OF
such preferred stock and the shares Of pre-
ferred stock shall be paid In full before any
payment shall be made to the holders of
the common stock, but when such arrears
OF dividends and the face value Of such
preferred stock shall have been paid the
holders thereof shall receive no other or ad
dltional payments whatever.
The said preferred and common stock may
be issued for cash or its equivalent, real
estate, bonds, notes, good will, merchan-
disc, goods chattels, labor done or services
actually performed for said corporation, or
tors may approve.
This corporation shall become a going
concern as soon as the entire amount of
its, capital stock shall have been sub
No transfer Of stock shall be binding
upon the corporation unless made upon Its
SS s6o 5SRe Of BY 9 ~ sell aST
the shares held by him without having first
offered the same to the corporation, through
its board OF directors, and said board shall
H. till % rhocf cofI Shar
within five days thereafter, for cash at the
book value, and all shares thus purchased
may be re-issued.
Article Fifth-All the powers Of this
corporation shall be vested in a board Of
directors. composed of not more than FIVE
nor less than three stockholders. At the
annual election In each year the stockhold-
ers shall have the right to fix the number
within the limitations herein established
to compose the board for the ensuing year.
The board Of directors shall fix the num-
Der necessary to constitute quorum OF the
Said board Of directors shall be elected
annually on the first Monday Of November
in each year: all said elections shall be by
ballot and shall be held and conducted at
the office Of the corporation, under such
rules and regulations as may be established
by the board OF directors; ten days prior
notice of such election shall be given by
written communication addressed to the
stockholders at their last known place OF
residence.
At all Sucn elections ana at all cOTpOr-
ate meetings every stakeholder shall be en-
titled TO one vote for each share Of stock
standing in his name on the books Of said
corporation, whether common or preferred.
TO be cast by him in person or by proxy, and
the majority of such votes cast shall elect
Any vacancy occurring among the diree-
! tors of said corporation, whether by death
resignation or otherwise shall. be filled by
election for the unexpired term by the re
naming directors failure to elect direc.
tors on the date above specified shall not
dissolve the corporation or impair its e1
| istence or management, but the directors
| then in office shall remain in office until
their successors shall have been duly elect
ed and qualified.
sist Of a president vice-president, secretary
and treasurer. the secretary and treasurer
may be combined in one person. The pres
ident and yiee-president shall be stock
| holders In the corporation; these officers
| shall be elected by the board OF directors.
{ The following shall be the first board o.
/ directors Michel Ber VI. David Haspel anC
John d. Hunter. with Michel Der as presi
| dent, VI. David Haspel as vice-president ant
| John ID. Hunter, as secretary-treasurer, and
| they shall hold office until the first Mon