The herald. [volume] (New Orleans, La.) 1905-1953, 1914-03-05

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and generally rp q, and perform q. -e., anu
,a.ug- requisite and necessary 10 carry ou' tne
objects and purposes % this ,'rlara..'...
A.u,lc I-Thr d1mlclIe OF THIS CORPORA
rruu shall De 900 the city ~ NgN ',.'ahA'
state of Louisiana, and al. citations anu glucT
legal process, shall be served nn I'd" p.''lgvN.'
and I'M hr, absence. on the Sl,r-Wt'ldeh'
and IN the absence OF noih "i SAN ''.,'.' O''
the secretary of this corporation.
Article lIl.-Ihr objects and purposes l''
which this corporation Q, .:E.ni/.b anu @
tablI,hcd. and the nature Of Tie business, u
be carried ON ay % are declared &" De as in.-
lows. To agurrc, reclaim. improve anu su''-
. vatc landed property; tD Dp.0ulZe land l' ON"
and operate sugar mills and sugar f1"''-''N'
/ and o. acquire 10y purchase or lease operate
sell aud otherwise dispose ut any ana every
~p,rf.- of PROPERTY. real. personal and mixed,
necessary or COM cuIcut To be so acquired ana
used 90 order % more cticctualIy carry ON the
main design OF the organization oil inc CUM
/ Article IV.-Thc capital stock Of this cor
poration J. hereby fixed al and declared L"
1 be the sum Of seven hundred and nifty thCu-
sand dollars tSsODtJl, 10 De TcPre,Sh'tLu - gH
/ seven thousand and five hundred N,sJOl
shares OF one hundred dollars cSlOOlp par
value.
These shares shall be divided into pre-;
! fcrrcd Of which there shall be two thousand
and five hundred (2,5OOl shares, and common
= OF which there shall be nye thousand i9,Ho,
shares; and the certificates therefor shd!I
designate the class OF shares Tor which issued.
The preferred SHARES Sndl DC tllltlCu "
receive dividends at the rate OF eight 81 per
Ccntum per aunum, from the lst day Of July,
/ 1914, for that and subsequent years, out OF
! the net earnings Of the company applicdDIe
to dividends. before any dividend snail be
paid upon the common shares, and these dIvI'
| bends shall be cumulative.
After payment OF the above dividends upon
! the preferred shares, the remainder OF the
! earnings OF the company, may, IN the discrc'
/ tiOn Of the board Of directors, be used TO pay
/ dividends upon the common shares.
| In the event OF liquidation OF the company
I for any cause, the preferred shares shall be
entitled to be paid in full before any payment
- made upon the common shares, which shall
receive the rest OF the assets.
( At all elections for directors or meetings
| OF the shareholders, each share, whether pre-
fcrred or common, shall be entitled to one
/ 0D vote, either by the owner IN person, or by
his written proxy.
No change shall be made IN the number OF
! shares, either preferred OF common, except by
J a vote Of three-fOurthS OF the outstanding
shares OF each class, taken separately, at
special meeting to be held for the purpose.
The company shall commence business and
become going concern as soon as thirty 600
shares shall have been subscribed.
The shares of the capital stock OF this cor
poratIon shall be paid for in money, or for
labor done or services rendered or such shares
as may be issued or delivered for other prop
erty rights and franchises to be taken, &C
Cepted and received by the corporation for
its corporate purposes, at such valuation and
OF directors may determine and direct from
time to time to be expedIent The capital
stock of the corporation may be increased
or reduced by proceedings taken in the man.
ner prescribed by law.
The shares of the capital stock Of this cor
pOratiOn may be issued for money, for labor
done services rendered, or for other prop
erty rights and franchises, which may be
thus paid for or exchanged and made over TO
| the company. The valuation of any and all
rights, contracts, labor services, and prop
erty, movable, lmmOvable and mixed, cOrpO-
real or incorporeal, accepted and received by
the corporation for its corporate purposes in
! payment, exchange otherwise for any of
the shares or capital stock of this corporation
and hNed by the board of directors upon such
| terrps and conditions for the issuance Of such
! shares OF stock, shall be conclusive evidence
| OF such valuation; and any and all persons
| partnerships, associations corporations, stock
holders, or creditors dealing with this corpor-
alton, hereby waive any right cause of &C
| ton against the original or subsequent owner
| or owners of such shares of the capital stock
| issued to It, him, her them in payment or
| exchange tor labor done or services rendered
| or Tor such rights, franchises credits con.
| tracts and property valued by the board of di.
| Tectors as aforesaid; and EACH every and any
and all contract, contracts, or undertaking
! made by or entered into with this corporation
/ Shall he subject to this provision of this
charter.
| All OF said stock shall be full paid and nom
| aSSeSsable when issued and delivered and
| transfers thereof shall not be binding on the
company, unless recorded IN its bo0ks and
| shall be further subject to such rules. regu-
| Iations and conditions as the board of direc-
/ tors may prescribe.
Article N.-lhe corporate powers of this cor.
pOraton, including the powers to make and
amend ITS bylaws, and the management and
| control OF its affairs shall be evested in and
exercised by a board Of directors comnosed
Il npt ,ess than seven CO persons. who shall
! he the holder OF at least one Cd share Ceither
| preferred or commonD of the capital stock of
/ this company, a majority Of whom, represent
ca eltheT IN person or by proxy, shall consti.
tute quorum for the transar,iop 90 Ill -
mess. - GIL Jus
Any director, in his absence from any meet.
| ing OF the board of directors, shall have now.
| (! 70 appoint IN writing another director or
~. o'hnTlIer as ms proxy, with full power to
act IN ms stead at such meeting
The directors shall be elected annually bv
Paliot by the holders of the stock, on the first
tuesday IN January of each year Each hold.
81 Ii stock shall be allowed to vote in person
or by written proxy, one vote for each sbare
OF stock owned by him, and ali elections shall
DC heId under such rules and regulafions as
may be adopted by the board OF dITectors Tbo
directors thus elected shall continue in ofice
Tor one year, and until their SUCCESSORS shall
nave been duly elected and qualified An
tdilure 10 eject officers or directors shall moi
De regarded as forfeiture of the rbsrter
,nry taTn1ncy occurring on said board of direc.
tors shall be filled by the remaining d;rectoTs
term. 0' 'NS uHeNPfeo
The following persons shall be and cons,i.
I nute the hrSt board Of directors. Edmund
pListol, W. Grant Morden, c. A. Barnard
Sharles ID. Warren Otto T. Naier p Ri
thomson and Z. Howard McCaieb n -D.iorN
ny OF whom shall constitute quorum, x,itb
, ,uunu Prlstol as president, Otto T. Maier,
vice president, and E. Howard McCaieb Sc
retary, who shall be the officers OF the cn-noS-
dtlon ana shall serve until the reg,,I.- 49,,
ing on the hrSt Tuesday in January IoiS -
qualified S'SS'eu anu
Article YI-The liability of the s,ockboId.
S ss,.oi inns corporation for the contracts or
faults OF inns corporation is limited 10 any
unpaid balance that may be due by them ~.
sPScuVely on their subscriptions
NO mere intormality in this art NJ ;,.o-
poTation shall render this charter void o.
S . stockholders to liability beyond the
AMOUNT OF their unpaid subscriptions.
Atucie NIl.-Ihis charter may be amended
~ 81 'lIs corporation may be dissolved. with
ine assent OF the stockholders hoIdinS 80
Jority OF the outstanding stock. ar ge,s-si
iiaee!lhg convened for that purpose. and a.
aSast zen NlU) days notice shall have been
So. - 70 the stockholders, through the nail
addressed 10 their last krow9 reS,. [,saIi,
places of business ieSPeS'iNe
IN IN case Of dissolution by the exp;ra,;o, -
co. eIarleF or otherwise, the affairs OF ,b;s
corporation shall be liouidated h., IT. VI MS I,S
sos holdeLs to be elected al the .a,; SS)
ueTng such liquidation. 'N''ng or
smarter snail serve as the original s,b-
Se!.Pll0n ISt, the UNDERSIGNED bs;na H.
u !slndI subscribers TO the cspitai st.t '.t
.ais corporation in the amounts ana g. ~ ~
ns soe' OF shares opposite their respeet;ve
o- mus done and passed in my Office =, New
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