The herald. [volume] (New Orleans, La.) 1905-1953, 1914-05-21
OF THE
THE LOUISIANA PRODUCTS COMPANY


agree and bind themselves. a well as such
other persons as may hereafter become as
sociatcd with them, 10 FORM ana constitute
d corporation and body Poiluc IN law lu'
the purposes and objects and under the sup
ulatIons, articles and conditions following
tD-WIt: ,
Article / The name and title Of this Cor
norati.n shall hc TIE LOUISIANA PROD
tCTS COMPANY. Its domicilc shall be IN
the CITY IF New Orleans, State OF LOUISIANA;
and under rs sand corporate name, salu
corporation shall have power and authority
tD contract sue and be sued; to make ana
MS. Z, corporarr seal, and the same TO break
and alter at pleasure; to hold, receive: nave
purchase, improve, ALLEVIATE, convey seIl' Dol
row, pledge. mortgage ana hyPolheCdIe' VI;
der H. SAID corporate name, property, rcsl'
personal and mixed; To- make and issue
bonds notes and other evidences oil deoti 10
acquire Boy purchase, lease or otherwise pat
names and trademarks, and 10 use the same
or to sell lease or otherwise dispose OF the
same; To employ, name and appoint gen
eral manager. a general counsel, ana such
officers. directors. agenfS, managers, super
attendants, clerks and other employees aS
the interest or convenience OF SAID corpora
ton may require; to make and estaOlish uS-
laws. rule, and regulations tor the proper
management and control OF its affairs as may
be deemed necessary and eNpedlent ana prop
er and the same TO change and alter at pleas
ure and to do all other acts and things per,
mitted 10y law. OF shall be necessary and
poses OF this corporation. ,
This corporation. unless sooner dissolved
IN accordance with ITS Charter, shaIl exist
and continue for the period OF ninety nine
(ygD wears from and after the date hereof.
The President, in his absence, the wee
President. shall be the person upon whom
citation or other legal process shall be OBJ
served.
Article H. The objecrs and purposes for
which this Corporation Is organized, ana inc
nature OF the business to be carried on by
it, are declard to be the following, to-wit:
To build. erect. construct, lease or other
wise acquire, and to thereafter operate OF
ii spose OF samcb sale or otherwise, canning
and preserving plants Hnd manufactures loI
the purpose Of canning, preserving and packing
fruits vegetables, hsh, oysters, shrimp ana
any and all other commodities that can be
canned, preserved and packed; TO plant, grow
and cultivate fruits, vegetables and other
crops: to acquire develop. operate, lease and
sell orchards, truck farms and other lands
to establish. acquire, operate ana CONDUCT
canning plants, packing plants and pTeserV,
ing plants in any other state OF the Jnlttd
States and in foreign countries, as owners,
lessee, agent or on commission; to buy and
sell as principal agent ur on commission the
product Of other canning preserving ana
packing plants, in addition TO selling the
product and OUT II OF ITS own plant or plants,
and to that end and for that purpose II may
establish and maintain branch offices, sales
rooms and warehouses;; and, generally, TINS
corporation may engage in any other bust
ness and enterprise that may be deemed eX,
pedient, necessary, advisable and proper, and
to the best interest OF dlis corporation, by
the Board OF Directors, whether the same be
connected with or incidental TO that special
" designated herein not, provided the
same is not specially reprobated or prohlO
tied by law.
Article Ill The capital stock of this Cor
poration shall be ONE HUNDRED THOU
SAND DOLLARS 100000, of which seven
| ty-tve thousand dollars, represented by thr
| tv-seven hundred and fifty shares OF the pal
| value of twenty dollars 5000 per share
| shall be preferred stock, and twenty-five
| thousand dollars (S25,0OU), represented by
twelve hundred and fifty Q,25O shares o
the par value Of twenty dollars $4,000 pc,
| share shall be common stock.
| Out OF the net profits earned by the Cor
| poration the Board of Directors may declare
| and pay such dividends as 1t deems prope
and advisable No dividend shall be paiC
on the common stock until dividend on thu
| preferred stock shall have first been paid
provided this dividend paid on the pre-
| ferred stock shall, in no year, exceed elgh
per cent 81, and shall not be cumulative.
| After eight per cent(0 dividend shall hav,
| been paid on the preferred stock divi
dend as may be determined by the Board
may be paid on the common stock, out o
the remaining net profits.
| If. after paying the dividends, as abov
| provided. on both the preferred and the com
| mon stock, there remains a balance out 0
the net profits. the Board Of Directors shall
! determine what disposition shall be made o
| it, and such amount thereof, if any, as ma
| be appurtioned for further payment of divl
| bends, shall be divided among the preferTe
| and the common stockholders in such pro
ptroion as the Board Of Directors shall de
| termuc
Only the common stock shall have tn
power Of voting at any and all meetings Q
the stockholders of this Cooperation. j
however this company shall, for a period Q
four ca successive years, satl to pay dlvl
dend on the preferred stock, then the pre-
| ferred stock shall have the same right G
| voting as the common stock, each share, con
mon or preferred, in such contingency bein
entitled to one vote.
This Corporation shall have the right {
call in or retire the preferred stock or :
decrease the amount thereof outstanding, pre-
vided such action is recommended by IN
| Board OF Directors, ana said recommends
ton is ratified approved and adopted by tn
: vote and consent of two-thirds C2-0 of til
outstanding common stock, and provided
further, that the price to be paid for sal
preferred stock shall be par, and accrued {
earned dividends.
In case of the liquidation of this Corpo
alton. after all debts due by it are pait
including the costs incidental to the liqu
dation the assets of this company sha
then be divided and distributed as follows
The preferred stockholders shall be paid ii
par value of their stock If there be sufhciei
funds such assets as then remain shall
| apportioned to the common stockholders;
both the preferred and common stockholde
be paid in full the par value of their stoc
such assets as then remain shall be divide
equally between the preferred and the cor
mon stock.
| This company shall be a going concern ar
| shall have the right to carry on business
soon as three thousand dollars (S3,00000)
its common capital stock hall have been SUI
| scribed for All stock shall be paid for
cash or its equivalent, and, If not in cas-
then the Board of Directors of the Compar
shall determine the value of such equivale
offered. No certificate OF stock shall be
sued unless the shares of stock, evidenced
such certificates, have been fully paid for.
Article ". The powers of this Corpor
ton shall be vested in and the manageme
and control OF its affairs shall be exercise
by GARD of Directors, composed of not FEY
I er than FIVE 81 stockholders, a majority
, whom shall constitute a quorum for the tran
r action Of all business. The directors shs
E be elected by the common stockholders
!. the second Tuesday in January of each yea
Each stakeholder shall be entitled in perso
or by proxy, to a vote for every share OF COT
mon stock owned by him, and all electio
shall be held under such rules and regul
tions as may be determined by the Boa
( of Directors. The votes shall be cast
E ballot. The directors thus elected shall co
; tinue in office for one year, or until the
! successors have been duly elected and ha
D qualified No failure to elect shall be
| garded as a forfeiture of this charter. Al
tvacancyo ccuring on said board shall be fill
. by the remaining directors for the unexpir
term. The Board of Directors shall at
. first meeting after its election, nominate o
! of its number president, one or more vi