The herald., 1913-11-13
CHAPTER

CHARTER
OF THE HUB CLOTHING COMPANY.
State Of Louisiana, Parish of Orleans, City
of New Orleans.
BE ii known, that on this tenth day of
the month of November, in the year of
our Lord Nineteen hundred and thirteen,
and Of the independence of the United States
OF. America the one hundred and thirty
eighth, before me, ]. Henry FOrcelle, Jr.,
a notary public, in and for the parish OF
Orleans, state of Louisiana, aforesaid 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 who sever
ally declared that, availing themselves OF
the provisions of the laws of the state OF
Louisiana relative to corporations. partlc-
ularly Act No. IS of 1904, they have Gov
enanted and agreed and by these presents DO
covenant and agree and bind themselves, as
well rs all such persons who may hereafter
become associated with them, to form and
constitute a 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, t0-wit:
Article First-The name of this cOrpor-
alton shall be the Hub Clothing Company"
and under its said corporate name il shall
have power and authority 10 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; to contract, sue and be sued :;
same to alter and break at pleasure; TO
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,
and the same TO alter, amend and abolish
at pleasure.
Article Second-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 Thrd.-The objects and purposes
for which this corporation is organized and
established and the nature of the business
to be carried on by il are hereby declared to
be: Buying and selling at wholesale and
retail of clothing and gents furnishing
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
ital stock of this corporation IL hereby fixed
00OOO) which shall be divided into com
mon and preferred stock. or 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
value of one hundred dollars each. The
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
dividends shall b" paid to the holders 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-
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
he shares held by him without having first
,ffered the same to the corporation, through
Is board Of directors, and said board shall
lave the privilege Of purchasing said shares
rithin five days thereafter, for cash at the
oOk value. and all shares thus purchased
nay be re-issued.
Article Fifth.-All the powers OF this |
orporation shall be vested In a board Of
irectors. composed of not more than five