The herald., 1913-05-01

tho said capital stock, must be subscribed
and paid for before the corporation can or
ganize and become going concern. Ihe
Remaining shares OF said stock, snail De Is,
sued by the board or directors as they sn"i'
All shares of stock shall be paid for In
cash. property received. or labor performed
and must be fully paid for before the iSsu-
ance of the certificate therefor, anu shaii NC
non assessable.
Said stock shall be represented by stock
certificates and transferable only on the
books OF the corporation, on the surrenuer
of the outstanding certihcate, or que Prooi
of loss. ,, :.
Before any stock can be transferred, 1t
must be first offered In writing. and at lts
book value to the board OF directors, OF
this CORPORATION, who shall have the option
OF purchasing same. at the said book value,
ot the time the said stock is offered; and
should the directors fail to make the pur-
chase Of the said stock within hfteen lI11
DAYS from the time Of offer, then the holder
and owner OF the stock may dispose OF II
In the open market. A.,
may be increased or diminished by proceed,
ngs taken In accordance with the laws OF
the state of Louisiana.
ARTICLE V.
The officers of this corporation shall CON
sist OF n president. vice-preSident, and a
ccretary-treasurer general manager, all OF
whom together shall constitute board
OF directors, two Of whom shall constitute
a quorum, for the transaction or business,
and all corporate powers snail he vested IN
and exercised by the said board Of directors.
The first board OF directors shall consist
Of J. J. Weinfruter. Sr., as president r. o..
CreSap, as vice-president and mn L. CreSap,
Secretary-treasurer and general manager F.;
said board shall serve until their successors
are duly elected and qualified, on the second
Thursday in April. 1914.
The said board OF directors shall be elect
ed annually thereafter, on the second Thurs
- % a.nh ar a nnn Rn-
after as possible. at a stockholders meeting
convened for that purpose.
Each share OF stock shall be entitled TO
one vote, to be cast by the stakeholder.
either by person or proxy, the majority OF
the stockholders or stock present. or repre-
sented by proxy shall elect. The annual
meeting for the election OF the board Of
directors shall be preceded by ten (10) days
notice mailed &c each stakeholder to attend
said meeting.
ARTICLE vi.
The secretary treasurer general manager
shall keep a set OF books, showing the daily
receipts and disbursements of the funds OF
this corporation, and shall make deposit OF
receipts in such bank that may be desig-
mated by the board OF directors. All checks
or vouchers issued gainSt the funds of this
corporation shall be signed by the president
and by the secretary treasurer general-man-
ARTICLE VII.
No stakeholder shall ever be liable or re-
SpOuSlDle
corporation, nor shall any mere infOrmalty
in organization have the effect OF rendering
this charter null or of exposing a stock
holdet TO any liability beyond the amount
due on his capital stock.
ARTICLE VIII.
This act OF Incorporation may be changed,
altered or modified, or the corporation NAV
he dissolved with the assent OF threy fOurthS
Of the stock represented at special meeting
called for that purpose after its objects
have been made known by ten (10) days
previous notice in writing. delivered or
mailed each stockholder, and upon comply
ing with the laws Of the state of Louisiana.
Whenever the corporation Is dissolved its
affairs shall he liquidated by two commits.
sioners elected by the stockholders Of this
corporation.
Thus done and passed in my Office, in
the city OF New Orleans, on the day, month
and year first herein above written, in the
presence OF William +. Cakes and Joseph
unto signed their names with the said ap
bearers, and me, notary, after due reading
of the whole.
Original signed: J. J. weinfruter, Sr.
Cresap, 300 shares Julius Forsyth, / share
VIM. F. Cakes, J. Murray.
ED. z. FOLEY, Notary Public.
in and for the parish Of Orleans, state OF
Louisiana, do hereby certify that the above
and foregoing act OF incorporati ton OF the
fhil. Z. Cresap Co., Ltd, was this day duly
recorded in my office, in book loss, folio
324.
New Orleans April 4. 1913.
(Signed) EMILE LEONARD, ID. R
/, the undersigned notary public. do here
| by certify the above and foregoing TO be
| true and correct copy OF the act OF incor
| poration of the Phil. 7. Cresap Co., Ltd.
and OF the certificate of the recorder o.
| mortgages.
ED. T. FOLEY, Notary Public.
apr IL "a may l Is % 1913