The herald. [volume] (New Orleans, La.) 1905-1953, 1913-06-12
CHARTER OF d. G. BUTTS SPECIALITY
COMPANY.
UNITED STATES OF AMERICA, STATE
OF LOUISIANA, PARISH OF Or
LEANS.

| OF LOUlSlANA, PARISH VI Oh-
LEANS.
7 Be II known, that on this fourteenth day
of May, in the year of our Lord one thou
sand nine hundred and thirteen, before me,
Scott T.. 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
ma jority, who declared that, availing them
selves Of the provisions of the laws of this
| state relative TO 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. 6. BUTTS SPECIAL
TY COMPANY, and by that name 1t shall
enjoy succession for the term Of 90 years
from the date hereof, unless sooner dissoly-
| ed. 1t shall have power to sue and be sued,
to borrow money, hold, purchase lease sell
and hypothecate real and personal property
| to 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 evi.
dence Of debt, and to secure same by mort
gage or otherwise
i ARTICLE 1.-THE domicie Of this cor.
pOTdIlOn sndn De 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.
Il 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
the value or validity of any patent right
the company may acquire or proposes tC
acquire, and generally to do whatever Is
necessary and incident to the character OF
the business to be conducted by this corpo
ration.
Il ARTICLE Iv-(a) The capital stock OF
this corporation shall be twenty thousand
dollars ($2O,O00), TO be divided into two
hundred shares (200) of the par value OF
hundred shares shall be preferred, and the
other hundred shares shall be common stock
The corporation shall be going concern as
soon as one hundred shares of the stock
common or preferred, shall have been sub
scribed for.
OBJ All stock shall be paid for in cash oil
its equivalent.
i (cI The holders Of preferred stock shall
be entitled to a cumulative dividend Of ST,
per cent per annum payable out of any anC
all surplus or net profits, at such times a!
the directors may fix.
the preceding paragraph Is fully paid, s
dividend of not more than six per cent pc
annum shall be paid on the common stock.
| (e) When the dividend provided for II
the preceding paragraph Is paid, all othe
profits shall be shared alike between thu
preferred and common stock.
o. No stock shall be transferred excep
upon the books of the company, and NJ
stakeholder shall be liable for any contracts
or faults Of this corporation, In any furthe
sum than the unpaid balance on his respect
i've shares.
, ARTICLE Val All the powers Of thi
corporation shall be vested in a board Of di
rectors composed OF three directors, two o
whom shall constitute a quorum for tn
transaction of business. They shall cleo
! from their number a president, vice-presi
dent and secretary-treasurer.
(b) The first board Of directors shall con
sist Of ID. G. Butts, J. d. Tschopik and
Edmund Kells, with d. G. Butts as presi
. dent and manager, c. Edmund Kells as vice
president, and ]. ID. Tschopik as secretary
treasurer.
(c) They shall hold their office until tn
. second Monday In January, 1915, or unit