The herald. [volume] (New Orleans, La.) 1905-1953, 1914-09-03

CAAkIEk
OF MOONE ROIAkN SLLMP CIIIEL

ChAKIER
OF MOORE ROTARY STUMP CUTTER
''NEhNE IN.
State OF Louisiana, Parish OF Orleans. CITY
Cd! New Orleans.
BE II known that Oh ;hrs. the Is,h dav Of
the month OF August, In the year O. our Lord
one thousand nine hundred and fourteen
before me, Vim. J. foru.rutp, a notary pln'.,
IN and Tor the parish ui Orleans, state ut
Louisiana. duly commissioned and quaIuri
and IN the presence Of the witness, herein
after named and undersigned. personally
came and Appeared the several PERSONS whose
names are hCrcurtu subscribed. whu scv,IaIiy
declared that, awaiting themselves OF the
law OF tbs state OF Louisiana. they have ,nr..
traCtCd aud agreed, and do by these presents
contract, covenant and agree and bind them
hereafter become associated with them, %
form and constitute corporation Tor the
objects and purposes and under the articles
and stpalatiuuo following, to-NIt:
Article The name OF said corporation
shall be Moore Rotary Stump Cutter Com
pduy, Inc, and under rs said corporate name
II shall have power and authority 10 hay, aud
ENJOY succession Tor the full term and period
oi ninety nine years from and after the date
hereof. TO contract, sue and be sued: 70 make
and use 4 corporate seal, and the sane to
break or alter At pleasure, 10 receive, lease,
purchase, hold and convey, well Is mort
gage and hypothecate, property, real, per
Soudl and mixed, COrpOTcdl and InCUIpurcal ;
to name and appoint such managers, agents.
ieftsts and convenience may require, and
t. make and establish, as we'll as alter and
amend from time TO time, such bylaws, rules
and regulations for the proper conduct man
agement and regulation Of the affairs OF said
corporation as may be necessary and proper.
Article 1.-The dOmICIlc OF said corpora.
ton shall be in the city OF New Orleans in
the state OF Louisiana, and all citations Or
other legal process shall be served upon the
president OF SAID corporation, or, IN the event
of his absence, upon the vlCc-presldeut or
acting president thereof and in the absence
OF both OF said officers, upon the secretary OF
Article III.-The objects and purposes for
which this corporation Is established and the
nature of the business to be carried on by
It declared and specified to be to acquire
the patent rights of Ambrose Larkin Moore
and George Daniel Moore for their improved
stump cutting machine under the letters pat
ent granted to them on July 2lst, 1914, bear
ing No. l,lU4, SIS; to manufacture, use, lease
and sell the stump cutting machines protected
by said letters patent; to own and operate d
plant tor the manufacture Of said machines /;
to manufacture tar, RESIN, turpentlne. wood
pulp, or any OF the by-productS from pine, and
TO that end to own and operate the necessary
plant and equipment therefor; to establish
and operate stores for the disposal OF such
products; to engage in general merchandise
ing business; to make contracts tor the clear
ing OF lands; to acquire lands other prop
erty by purchase or otherwise and to hold,
lease or sell the same; and IN the furtherance
chase, acquire, hold. and dispose Of
stocks, bonds and other evidences of indebt-
ednesS IN other companies Of the character
herelnabOye described, and in respect to any
and all such stocks to possess and exercise
all the powers of individual owners thereof
Except the business Of stock jObbing which
IS hereby expressly excluded, and generally
to hold and exercise all such incidental pow
erS and privileges as relate to the objects
hereinbetOre set forth, or that may be here
after conferred by law upon this corporation
or corporations OF similar character.
The consideration for which said patent
rights are TO be acquired IS hereby declared
TO he the II fifteen thousand one hundred
dollars, represented by two hundred and two
shares of the common stock and one hundred
shares of the preferred stock OF this corpora
ton of the par value of fifty dollars each.
Article IN.-The capital stock of said cor.
poration is hereby hXed at forty thousand
dollars, divided into or represented by eight
hundred shares of the par value OF fifty dol
lars each. Said stock shall consist OF two
| different classes of issue; one thereof TO be
known as the preferred stock and the other
as common stock.
The amount of said preferred stock is fixed
at the of twenty thousand dollars di-
vlded into or represented by four hundred
| shares of the par value of fifty dollars each
The preferred stock shall be entitled in pref
erence and priority over the common stock
OF the corporation to dividends in each and
every year at the rate of seven per cent per
annum payable out of the net profits for such
y,
and said preferred stock shall not be enti-
! tied to any other or further share OF the prof
its. No dividends shall be declared or paid
on the common stock in any year until the
full seven per cent is earned, declared and
appropriated for the preferred stock for such
year.
All payments of dividends upon such pre-.
ferred stock shall be without deductions for
any tax or taxes which by any present laws
or future laws of the United States or of the
state of Louisiana, may be payable for or in
respect to said dividends for national, state
or municipal purposes; the said corporation
| hereby agreeing to pay any such tax taxes
which II may now or hereafter be required by
any such law TO retain therefrom.
In the event of any liquidation disso-
| luton winding up, whether voluntary OF
involuntary, of the corporation, the holders
OF the preferred stock shall be paid in full
the par value of their shares, and after pay
ment to the holders of the preferred stock OF
its par value and of such dividends as may
| not have been previously paid hereinabovc
provided, the remaining assets and funds shall
be divided and paid to the holders of the
common stock, according to their respective
shares.
The preferred stock shall not be entitled tc
vote, and may be retired after five years from
| the date of Incorporation by the board of d.
rectors at par value payable to the holders
| thereof out of the net profits or earned sur
| plus.
The common stock of said corporation is
| hereby fixed at the sum of twenty thousand
| dollars, divided into or represented by foul
| hundred shares of the par value of fifty dol
| lars each. and shall be entitled TO dividends
| and to share in the assets and funds of the
corporation only in the manner hereinabov,
provided, and said stock shall have the solt
| voting power in said corporation.
| The whole of said preferred and common
stock, or any part thereof may be issued ant
| delivered for cash, or in installments of sucl
amounts, and at such times as the board o
directors may determine; and such stock ma,
| also be issued in payment and settlement 0
the purchase price of the patent rights here
| inbefore described, also in payment, settle
ment and adjustment of the costs, fee: