The herald., 1913-05-22
CHARTER OF D. G. BITS SPECIALITY
COMPANY
UNITED STATES OF AMERICA. STATE
OF LOUISIANA, PARISH OF OR
LEANS.

CHARTER OF d. G. BITS SPECIALITY
UNITED STATES OF AMERICA, STATE
IIEE LOUISIANA PARISH OF OR
Be IL known, that on this fourteenth day
OF May, In the year of our Lord one thou
sand nine hundred and thirteen, before me,
Scott II. Beer, a notary public in and for
the parish of Orleans. state OF Louisiana
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, all OF the age OF
majority who declared that, availing them
selves of the provisions Of the laws of this
state relative 10 the organization of cOrpO-
ratiOns. they hereby form themselves into
and constitute a corporation for the objects
and purposes. and under the stipulations
hereinafter set forth.
ARTICLE 1.-The name and title of this
corporation shall be ID. e.. BUTTS SPECIAL
.Ti COMPANY, and by that name it shall
enjoy succession for the term OF % years
from the date hereof, unless sooner dSsolv-
ed. 1t shall have power 10 sue and be sued
10 borrow money, hold, purchase. lease, sell
and hypOthecate real and personal property
10 make and use a corporate seal to name
and appoint directors, managers and agents.
and to establish such bylaws rules and reg
ulations for the management OF the business
and affairs of said corporation as may be
necessary the same to alter at pleasure:
also TO make and issue bonds and other evil
dence OF debt, and to secure same by mort
gage or otherwise.
ARTICLE 1.-THE domcie Of this cor
poration shall be In the city of New Or
leans, and all citations or other legal pro-
cess shall be served on the president or, in
his absence; on the vice,president.
ARTICLE III.-The objects and purposes
of this corporation are to acquire by pur-
chase or otherwise United States and foreign
letters patent for any and all kinds Of no.
velties TO manufacture, use and sell such
novelties made under said patents. and to
grant licenses to manufacture and sell under
any such patents owned or controlled by
this company To experiment upon and test
me value or validity OF any patent right
the company may acquire or proposes to
acquire, and generally to do whatever is
necessary and incident to the character OF
the business to be conducted by this corpo-
ration.
ARTICLE Iv-(a) The capital stock Of
this corporation shall be twenty thousand
dollars (S2O.O0O). to be divided into two
one hundred dollars (S1OO) per share One
hundred shares shall be preferred. and the
other hundred shares shall be common stock
me corporation shall be a going concern as
soon as one hundred shares OF the stock.
scribed for
OBJ All stock shall be paid for in cash or
| its equivalent.
(c) The holders of preferred stock shall
De entitled to cumulative dividend OF six
per cent per annum payable out of any and
an surplus or net profits, at such times as
the directors may fix.
I'D After the dividend provided for in
the preceding paragraph is fully paid, a
dividend or not more than six per cent per
annum shall be paid on the common stock
teD When the dividend provided for In
the preceding paragraph is paid. all other
profits shall be shared alike between the
preferred and common stock.
% No stock shall be transferred except
upon the books of the company, and no
stakeholder shall be liable for any contracts
OF lauIts or this corporation, in any further
sum than the unpaid balance on his respect.
| i've shares.
ARTICLE VA All the powers Of this
corporation shall be vested in board OF di.
rectors composed of three directors, two OF
whom shall constitute quorum for the
transaction of business. They shall elect
from their number president, vice-presi
dent and Observation-Disclosures.
| OBJ The first board OF directors shall con
SiSt OF ID; G: Butts, ]. ID. Tschopik and c
Edmund Kells with ID. G. Butts as presi
dent and manager, c. Edmund Kells as vice
president. and j. ID. TschOpik as secretary
| treasurer.
(c) They shall hold their office until tbs
second Monday in January, 1915, or unit
their successors have been elected. Any
| failure to hold an annual meeting shall moi
cause a forfeiture Of this act of incorpora
tion, and any vacancy in the board Of direc
tors, from any cause, shall be filed by the
| remaining directors
I'D The board OF directors shall appoint
such agents and managers as the bushes:
may require fix their compensation and dis
charge them at pleasure; Ii shall adopt sucl
bylaws and rules for the conduct of tn,
business of the corporation as ii may seen
meet it shall fix the time and place OF al
meetings of the stockholders and OF tn,
board, except as herein otherwise provided
and shall determine the manner In which al
notices shall be given, of any and all meet
ings
ARTICLE vI.-On the second Monday fl
every January. beginning with Januar,
l9l5, there shall be held meeting of stock
holders TO elect directors for the ensuiny
year, which meeting shall be called afte
thirty days notice, said notice to be depos
tied in the mail, postage prepaid. and di
rected TO each stakeholder. at his or he
last known address. At said meeting sal,
directors shall be elected by ballot, and
majority OF the votes cast shall lie necessra,
to elect, and each share of stock shall b.
entitled to one vote, and the shareholde
shall vote in person or by written proxy
only shareholders shall be eligible as di
rectors.
ARTICLE vII.-This act Of incorporation
may be modified, changed or amended, o
said corporation may be dissolved by a yot
or three fourths of the stock represented a
a general meeting held for that purpose al
ter due notice shall have been given BY pub
lication for thirty days in one Of the news
papers published in New Orleans and Il
case OF dissolution, two commissioners sbal
wind up and settle the affairs of this corpC
ration, and In the event of a disagreement
between them, they shall select an umpire
whose decision shall be final.
At the termination of this act of incol