The herald., 1913-12-11
CT ARTER

NOV " - ~ - htC 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 OIL
our Lord, Nineteen hundred and thirteen
| and Of the independence # the United State:
| OF America the one hundred and thirty
| eighth, before me. j. Henry FOrcele. Jr.
| notary public, in and for the parish Of
| Orleans, state OF Louisiana, aforesaid, duly
commissioned, sworn and qualified and il
| the presence Of the witnesses hereinafter
named and unders Igned, personally came
and appeared the several persons WHOSE
| names are hereunto subscribed, who sever
| ally declared that, awaiting 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 &c
covenant and agree and bind themselves, as
well as all such persons who may hereafter
become associated with them, to form and
constitute corporation and body polite in
law, for the objects and purposes, and un
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 it 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; 10 contract, sue and be sued
TO make and use corporate seal and the
same 10 alter and break at pleasure; 10
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; 10
make and establish such bylaws, rules and
regulations as may be necessary and proper,
Qman1
a pleasure.
Article Seco'ld-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 corporation and In his absence upon
the vice-president or secretary.
Article Third.-The objects and purposes
for which this corporation is organized and
established and the nature OF the business
10 be carried on by IL are hereby declared to
be: Buying and selling at wholesale and
goods and the manufacturing and tailoring
Of clothing and the conducting Of a general
clothing and gents furnishing goods bust
ness In all its branches.
Article Fourth.-The amount of the cap
ltal stock Of this corporation is hereby fixed
at the sum of fifty thousand dollars $780,
000.00) 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
said $50 shares OF preferred stock shall be
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
earnings OF said corporation, before any
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
in any year shall be made good out Of the
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 a 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
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-
ditional payments whatever.
The said preferred and common stock may
be issued for cash or It's equivalent, real
estate, bonds notes, good will, merchan-
disc, goods, chattels, labor done or services
actually performed for said corporation, or
such other property as the board of direc-
tors may approve.
This corporation shall become a going
concern as soon as the entire amount OF
its capital stock shall have been sub
scribed for.
No transfer OF stock shall be binding
upon the corporation unless made upon its
books, in person or by proxy. No stock
holder shall have the right to sell any OF
the shares held by him without having first
offered the same to the corporation, through
have the privilege of purchasing said shares
within five days thereafter, for cash at the
book value. and all shares thus purchased
may be re-issued.
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 a quorum Of the
Said board Of directors shall be elected
annually on the first Monday Of November
in each wear; all said elections shall be by
ballot and shall be held and conducted al
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 such elections and at all corpor
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 direc
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 moi
dissolve the corporation or impair Its ex
istence or management, but the director:
then In Office shall remain In office until
their successors shall have been duly elect
ed and qualified.
The officers of this corporation shall con
sist OF a president, vice-president, secretary
and treasurer the secretary and treasurer
may be combined In one person. The pres
ident and vice-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 Der, VI. David Haspel and
John D. Hunter, with Michel Der as presi
dent NJ. David Haspel as vice-president anC
John D. Hunter, as secretary anC
they shall hold once until the first Mon