The herald. [volume] (New Orleans, La.) 1905-1953, 1914-05-14
CHARTER


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l".' ~. an 80 shin fo-yys-d and
Iii ~ :,.'' 80, ,,,fc, s,lg,- csnr and
-. -i~,,r,,,-2I r~.,frrr,s yIood timber.
1,,,,,r,c- nj g-,-TIes made rherefroTu. and TO
-, - s,,rh a-,,rI,s. IN nurrhase. con.
-, GUN Is and onrrate canals and
canal rights Of way. or interest therein; TO
buy. sell. hold and otherwise acquire and
ALLEVIATE stocks and bonds; provided that
said corporation shall not engage in the
business Of stock JobbIng, and shall be with
out the power Of eminent domain; and 10 do
any and all such acts and things as may or
shall be necessary and proper to carry out
the aforesaid objects and purposes.
Article IN.-The capital stock OF said cor
pOrati0n Is hereby fixed at the sum OF One
hundred thousand CSlN,UNotl dollars, dl.
vidcd into and represented by one thousand
1000 shares Of par value Of one hundred
$4,000 dollars each, and shall be paid TOR
IN cash or IN property or services, at such
time and in such amounts and manner as the
board Of directors may determine and direct.
In the event that any stakeholder shall de-
sire to dispose OF his stock, same must be
first offered to the board OF directors IN writ
ing, who shall have Ive days within which
70 purchase the same Tor the company, at the
best price Tor which the holder has bona
fdc offer. In the event OF failure OF the
board OF directors TO purchase said stock
II shall be offered to the then stockholders,
who shall have nye days within which to
purchase same, at the best rrlce Tor which
the holder has a bona hde offer. The board
OF directors is specially authorized to issue
the whole Of said capital stock, or any part
thereof, IN exchange tor real estate OF not
less than the reasonable value Of the stock
issued therefor. This corporation shall be
authorized TO begin business whenever ten
thousand dollars OF its capital stock shall
have been subscribed for
Article N.-All the powers OF this corpora
ton shall be vested IN and exercised by
board OF six directors, each OF whom shall
hold in his or her own name at least one
share OF stock; said board OF directors shall
be elected annually on the hrst legal day
Of February Of each year; the first election
to be held in the year 1918. All such cleo
corporation, under the supervision OF three
commissioners to be appointed by the board
Of directors, and in the absence Of any COM
mIsSionerS the president shall have power to