The herald. [volume] (New Orleans, La.) 1905-1953, 1914-04-30
ACT OF INCORPORATION


vi '''' IGCrETN.
United States 6 America, safe o. LOUISIANA
p...r TO, Orleans, City % New 'Ti'a"'.
g. % -.,... TIt. Du t.s- the th.rd daF @!
.f.. ninth o.. April lu -uc year Of our L'Ii
.-. thousand n.r. h.adrrd aud fourteen. anu
.t Oh. Independence 81 tire IniltH T."!S'
f ,......, the ..c hundred and if,.ly'
r.. r..... 4. r.r. I.-,rl >ruar. Notary fuD-
ftr. ..-..r. -~..red aad qualified 3" and
H.. r,..-r u DIel--. thrTr'n residing
..r ...H..- ...sI witnesses. personally came
... .......,.. a the several persons whose names
.. 3, -,.r,. subscribed. wh" -cNcTt'E de-
.r,H .'rr awaiting iGer-e.F OF iHe Ii''I7-
-.... II ri, laH, ui this state. ia'N nave cove
r.-,,G and ag.c.6, and do 10y these presents
covenant and agI,, 10 for" "a1 constitute
rnrr.>.lve, and their successor" my" Il coz
rurt-rsu and body poHuc ia Ia" I"f nc ''-
lrr,, and purposes. and under the conditions
and .upulauou- following. 'a-~". r....,
-r5 ir,rgratrd as The Southern Art, and
crafts Soclcry, and under said name >, s'. ...I
,.rinG of riucty-uluc years from and after inc
date Of these r7cScUiS. and shall enjoy anu
,.,.r,r.. all roNcrs and privileges granted no."
ar hereafter hv law unto corporations. Z" sHa-
rr9rt. sue and be sued, % make and use I"
/ corporate seal and the same "rraH ana '.l't
/ ~ rIra,l,rr. 10 hold. receive. lease acquire by
! donation or otherwise. purchase ana convey
/ as well as mortgage, pledge and Ayi"iH'''lT
/ ,,r,uc~tv real personal and mixed, ,urltTcal
| and inCorpDrtal
/ Article IL. The dpur,te o. said corpora
! ton shall be m ;hc City a. New brr"No'
/ S+4f. of Louisiana. and o.. CITATION or otNcT
/ LEGAL process shall be served uu the tTgs'lrnt
| NJ said corporation. or IN case OF hi- absence
/ r-r.nrr the Secretary thereof
| Article Ill The objects ana purposes ioI
which THIS corporation Is established ana the
| uat,l-e II the business 10 lr carried on by
! -, are hereby declared 20 be, 10 m!ln'l'n and
| olr-gfe studios. schools, shops and factories
q Ito t#HsaFHT
| i'm any place in the United States; TO instruct,
tr7rh and perfect students and members IN
arts and crafts IN all their branches, which
includes the study of art and design along
,,,,s,,,I lines: the designing Of unique pieces
of pottrrv, icwelry. tapestry. woodwork, metal
and the study of correct architecture, dccora'
ton and furnishing by periods, and the manu-
facture and sale OF the above articles; and 10
do auv and all such things may relate OF
! appertan to the objects and purposes above
expressed
Article ". The capital stock OF said corpor'
| alton Is hereby declared to be the sum OF FIVE
Hundred Thousand Dollars, divided into OF
| represented bv Five thousand shares OF the par
% value Of One Hundred Dollars each. sand
, ! stock shall be subscribed for and paid IN cash
pr rs cqulyalent and the same may be ISSUED
for property actually received OK labor done
for SAID corporation.
| Transfers Of stock shall only be made on the
books Of the corporation by a stakeholder, IN,
| person OF By proxy but no stock snail be solo
or transferred by a stakeholder unless said
| stock shall have first been offered to the Board
| of Directors of the corporation, at book value
through written notice sent TO the President
| OF the corporation, and only upon the failure
Of the corporation to avail itself, within thirty
, DAYS Of such right to purchase, shall such
stock become transferable. The corporation
5 all become a going concern and be authori'
zed TO commence business as soon as twenty
five thousand dollars OF the capital STOCK
shall be subscribed and paid for
) The dividend to be earned on the capital
stock shall he and is, limited to seven per cent
: In event dividend IS earned more than suth-
cient to declare the aforesaid seven per cent,
the balance shall be passed to surplus or
sinking fund.
Article V. The business OF this corporation
shall be managed by and all its corporate pow
} ers shall be vested IN Board OF Directors to
| be composed OF not less than hve 90 nor more
than twenty-five (ZS) stockholders, 10 De eject.
ed annually on the First Monday OF june OF
each year. Should this day be legal holiday,
then on the hrst legal day thereafter.
At their hrst meeting IN each year, said
Board OF Directors shall elect out OF rs num-
T Der President one to five Vlce-Presidents, a
+ Treasurer, and Secretary: ~ all elections
for Directors, which shall be by ballot, each
stakeholder shall be entitled TO one vote tor
! each share OF stock standing IN ms name or
; the books OF the corporation, and the persons
receiving the votes OF the majority, IN amount
; OF the capital stock, represented at such meet
ing shall be declared elected. At all meet
ings OF the Board OF Directors the action oil
decision OF majority shalI prevail. rive mem
. bers OF the Board shall constitute a quorum
ior me Transaction OF all business lht
Board OF directors snail nave authority 10 nj
, an vacancies IN theiT nutnoeI' occurring IRON
, Whatever reason, ana snail nave iull PowG1
! 10 Make ana est1olSh as wei as Chahge' al
Yer or amend an bylaws, Iegu!atonS anC