The herald. [volume] (New Orleans, La.) 1905-1953, 1914-11-26

amend. from time to time. such bylaws, rule,
and regulations for the proper government and
management Il the affairs and business O.
said corporation as may be necessary aug
proper; aud % shall have power % do any 0
all q these thing, Iu any city and state OF
the United States and m al 'orciEu countries
Article 1.-THE dgwtglle % sand corpOrauor
shall be il the City Of New Orleans, State OF
Louisiana, and all citations or other lcUa
process shall De served upon the PIES dent o.
-tId corporation, or ~ ;h- event 81 his alb
-cUce OF inability, upon tn, first vice presl
dent thereof, and fr the absence or inability
If b0.u OF said officers. upon the secretary
ur treasurer OF sand corporation.
Article IIi.-IIc Object, and purposes fDg
which this corporation is organized and e.
rab.r shed, and the nature and character 90
Sire business 90 De carried on by IL are hereby
declared Go ne. the buying and selling at e
raG aud Wholesale. '.r '.~ uwu account, or
i0- the account nt others. all kinds OF pianos
urg.ra. music H.E.a. mechanical piano players
~. player pianos. monographs talking u.I
chimes aud other MUS cal instruments a-u
devices .s every r..l and character, sacc
music and musical compositions OF AL kinds.
tr .elE, lease. aEEr, BAY, sell AND exchange
same. and generally 60 dr and engage IN ans
other business, undertaking or enterprises
connected with, growing orr ot, or iuysd,u.a
O., such piano and general musical 1rstru
..r1t supply business sad corporation may
establish agencies. offices ur branch ,-ra.-
n-aw,a.- 80 such places and 80 such times
r- the board ar directors may determine.
Arrr'a l\.-IEe capital stock OF THIS cor
ra..uur is hereby fixed 10 the suu of Ittl
Thousand Dollars G5UruuU. div ded into an,
represented HE FIVE hundred lSrT shares u.
the aar ya.u, 81 one Hundred Dollars $1,000
cash, and fnc corporation shall DE Ealn
...n..r. a- SOON u.s. Forty Thousand Dollar
fsa .n.um ot stock HAS been subscribed al
paid r.r. The capital stock OF the carpuTaN.
may lr i9.r,l,rd ,o one Hundred Iaousau.
Dollars .SI.s..NUnN. The stock 81 sad coz
rur.uau shall be paid for I'm cash, or IN ia
Sediments on the call OF the board of dire.
Toys. or may DC issued 20 MOI less than g..
for services actually rendered 10 or p-opcIN
actually purchased by saft .orporlr,". y
shares Us stock shall De full paid arl non
a,sc-,an.c. and all certificate, OF stock sha
be signed by the president and ste
Rotary Of said corporation. No trans
fer oi stock shall De binding upon TIN
corporation unless made upon ITS books, an
uo sto,khoIdcI shall sell or dispose Of hl
stock without first offering same III wrtiu
to the corporation. who shall have the ugh
to buy same within ten tluJ days ~ current
or mart,; value.
Article N.-AN the corporate powers OF thu
corporation shall be vested IN and the man
ag,;ugut and control of It's business and al
fairs shall be exercised by board OF dircc-
tors composed of five 80 stockholders.
The number Of directors may he increased
from time to time by Il vote OF the directors
then holding office 10 not exceeding seven ~,
and may at any time after such increase be
decreased to not less than five 81. ma
jUrIty Of the board of directors shall constitute
a quorum for the transaction Of all business.
The board Of directors shall be elected ar
nuallv on the first Monday in January OF
each wear by ballot of the stockholders. Each
stakeholder shall be entitled, in person or by
written proxy, to. one 90 vote for every share
Of stock owned by him. All elections shall
be held under such rules and regulations as
may be determined by the board of directors,
and after at least fifteen Q5) days written
notice shall have been given each stakeholder
before such meeting, by depositing notice
Of such meeting in the postoffice. properly al
dressed to each stakeholder The directors
thus elected shall continue in office for one
ID year, or until their successors shall have
been elected and duly qualified. No failure
to elect shall be regarded as forfeiture OF
this charter. Any vacancy occurring on said
board of directors shall be filled by the re.
naming directors for the uneNpired term. SAID
board Of directors shall at its first meeting,
pm the first Monday IN January, lSIo, and
annually thereafter, elect from ITS number
president, a first vice president, second wee
president, secretary and a treasurer; Sald
board OF directors shall have the right and
power TO appoint and dismiss such clerks, |
managers and other employees OF the corpora
ion conditions may justify or the bust |
ness or interests OF the corporation may re- |
luirc. The tenure OF all employees OF the !
corporation shall be during the pleasure OF |
he board of directors.
Article Vino subscriber tor stock shall |
.ver be held liable tor the contracts, faults |
" debts of said CORPORATION in any further |
um than the unpaid balance if any, due the |
the stock for which he has sub |
crbed; nor shall any stakeholder ever be |
leld liable Tor such contracts, faults or debts |
n further sum than the unpaid balance
I am, on the stock owned by him; nor Shaii
my mere nformality in organization have
he effect of rendering this charter null, or
any subscriber or stakeholder liable
'eyond the unpaid amount, II any, remaining !