The herald., 1913-08-14

the constitution and laws of the state OF
Article 1.-THE domiclle 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 10 be carried on by
IL are hereby declared TO he To store, or 10
buy and sell. and otherwise deal in, mo-
lasses and sugar and 10 that end to buy,
erect lease, or to own and operate, such
buildings or plants as may be necessary or
OF use In the storing and handling or mo-
laSSeS and sugar, the property or others, or
OF this company; and TO operate such stor-
age building as private or as public ware
houses; TO own, or TO lease, ana operate
barCes or barge lines, or tank cars. or other
means OF transporting and handling mo-
lasses and sugar; TO advance or loan money
on mOlaSses or sugar held In storage or
otherwise secured; 10 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 its stockholders or customers informs-
ton as 10 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
this corporation.
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 It's wee
president, or its secretary-treasurer, at the
domicile OF the corporation; or such ser
vices may be made upon any other person
who NAV be designated for that purpose by
le board of directors OF said corporation.
Article V.-The amount Of the capital
stock of this corporation shall be two nun
dred thousand dollars ($2OO,OOO;OOl, oil.
vided into Cwo thousand shares (2OOOl OF
the par value OF one hundred dollars lSlOOl
each As soon as three hundred and fifty
shares (35O) of its capital stock, represent
ing thirty-ive thousand dollars Cs35,Oool
shall have been subscribed, this corporation
shall have the right to organize and com.
mence business Certificates OF stock shal!
not be Issued unless they shall be fully paid
for in money, notes secured by STOCK or tnt
company, or otherwise or for property soIc
said company, or services rendered to II
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. Int
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 un
| III IL Is first offered in writing to the cor
| poration at the then book value which booi
value shall be ascertained by the Board o
Directors, at a special meeting cailed 10
that purpose, and held within thirty day
1
| corpora ton to have thirty days option OF
| stock so offered from date of said notice
and any stakeholder or stockholders shal
| have the absolute right and privilege Z
| purchase said stock at its book value, a
| ascertained by the Board OF Directors, upol
| the corporation declining same, before sal
stock can be sold to anyone not STOCK
| holder OF said corporation; and no sale o
| the stock of said corporation shall be Ell
| fectiye unless said stock shall have bee
first offered for sale to the said corporation
or its stockholders, as above set forth. an
| BY them declined.
The capital stock Of this corporation ma,
be increased or decreased as provided b.
| law and In the event OF said capital stoc
being increased, the then stockholders shal
have the right to take the shares OF tn
increased stock in proportion to the numbe
of shares then owned by them. -,
The Board Of Directors shall have tn
stock, which shall be purchased by the col
| poration, under the provisions above Sc
forth, or for any cause, by resolution OF tn
| BOARD. at its then book value, but not les
| than par and in that event same shall b
first offered to stockholders Of record, a
| above provided with regard to Increase Q
capital stock. And provided, further, tina
| no purchase Of the stock OF said corporatlo
| shall ever be made, except out OF such sui
plus funds as the corporation may then owl
| ARTICLE Vino stakeholder OF this col
poration shall ever be held liable for tn
contracts or faults OF this corporation
by him on the shares of stock subscribe
for by him: nor shall any mere informant
in organization have he effect OF renderin
this charter null or of exposing any stool
holder to any liability beyond the amour
of his unpaid stock subscription.
ARTICLE VII.-All the powers OF tn
corporation shall be vested In, and exercise
by a board of not less than three l3) q
rectors the directors shall be elected by ba
LOT at an annual general meeting or u
stockholders, held after notice published
one of the daily newspapers OF New y
leans, once a week for thirty days, or
written notice mailed to each stockholdl
at his last known address. The first OF u
! said annual general meetings shall be he
on the first Monday In July, 1914.
At such meetings, every stockhoider sna
he entitled to cast In person or by prox
one vote for each share OF Issued and GU
standing stock held by him, for the electro
OF each director, and the candidates VINO
receive the greatest number OF votes sha
he elected. The rules governing the annu
! election shall be fixed by the Board OF ID
ectors at its first meeting.
; IF the annual meeting shall not be he
on the day fixed by the Charter, II snail
held as soon thereafter as possible, art
, due notice given as above. Special NEE
ings of the board Of directors may be call'
at any time, on the order OF the preslden