The herald., 1914-09-24
CHARTER
CHARTER
OF MOORE ROTARY STUMP CUTTER


]
State Of Louisiana. Par.sh ot O-Icau~, Ca,y
OF New Orleans.
! BE It known that ON thts. the 18Th Dag OF
| the month U' August, Iu 'ns year .. 3rr Lord
| one thousand uur hundred and fourteen.
! before me. Nm. ]. Eormcni., a notary rrri.
! in and tor the PARISH OF Orleans, state o,
! Louisiana, duly commissioned aud 4uaiI 90
| and ln The presence ut the witnesses r,rs..
! after named and uuisr-r gucd pcr,u.alI.
I came and appeared the several persons whose
| name, are hcrcuntp subscribed, who Scytral.N
( declared that, avaIllng themselves Of the
! laws ot The ate OF Louisiana, they have ,ou-
/ tray'cd and agreed. and do by these presents
! contract, covenant and agree and bind them
selves. Is we'll all such persons IS NAV
/ form and constitute d corporation Tor the
/ objects and purpose, and under the article.
I and ~tpuiatIuu> follow lnG. ty-wlt:
Article l-lhc name ct said corporation
shall he Moore Rotary Stump Gutter Com.
! Pauy, Inc, and under I's Ssld corporate name
n shall have power and authority to have aud
ENJOY succession Tor The IIl term and p,uOi
ut ninety -rlEc years from aud alter the date
hereof; to contract, sue and be sued; 70 make
and Use corporate seal, aud the same to
break or alter Al pleasure; to receive, lease,
purchase, hold and convey, as well IS mort
gage and hypothcCate, property, real, per
sunal aud mixed, CorPuTcdl and IngOrpJrcai; ;
10 name and appoint such managers, agents,
directors and officers a. ITS business and "a.
tCrt-ts and convenience may require, and
to make and establish, Is well As alter and
amend from time to time, such bylaws, rules
and regulations iUT the proper conduct, man
agcment and regulation OF the affairs OF saIi
corporation as may be necessary and proper.
Article 1.-The dDmlCllc OF sand corpora
ton shall he IN the city OF New Orleans IN
the state OF Louisiana, aud all citations or
other legal process shall be served upon the
president OF said corporation, or IN the event
ut his absence, upon the vlCc-pTcsldcnt or
acting president thereof, and IN the absence
"i both oI SAID officers, upon the secretary OF
Article III.-Thc objects and purposes ior
which this corporation - established and the
nature of the business 20 be carried on by
1t are declared and specified 10 be to acquire
the patent rights Of Ambrose Larkin Moore
and George Daniel Moore Tor their improved
stump cutting machine under the letters pat
cut granted to them on july 2lst, 1914, bear
iuE No. llE,SS5; 20 manufacture, use, lease
and sell the stump cutting machines protected
10y said letters patent; to own and operate
plant for the manufacture Of said machines,
TO manufacture TAR. resin, turpeutiuc. wood
pulp, or any of the by-produCts from pine. and
10 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 mCrChandIZ-
ing bus ness TO make contracts for the clear
Iug OF lands; To acquire lands or other prop
crty BY purchase OF otherwise and to hold,
lease or sell the same; and IN the turthcTanCc
ut the above objects and purposes 10 pur-
chase, acquire. hold, own and dispose of
stocks, bonds and other evidences OF Indebt-
cdncss IN other companies of the character
and all such stocks to possess and exercise
all the powers of individual owners thereof
Except the business OF stock Jobbiug which
is hereby expressly excluded, and generally
to hold and exercise all such incidental pow
crs and privileges relate 10, the objects
hcrciubefore set forth, 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 be the sum OF 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 TINS corpora
tIon OF the par value of nifty dollars each.
Article IN.-The capital stock of said cor
pOratiOn is hereby hNed 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
as common stock.
The amount of said preferred stock is fixed
at the sum of twenty thousand dollars di-
vided into or represented by four hundred
shares OF the par value OF fifty dollars each.
The preferred stock shall be entitled in pref
ercnce 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
year, said dividends shall be cumulative,
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 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 or taxes
which 1t may now hereafter be required by
any such law to retain thercfrOm.
In the event Of any liquidation or disso-
luton or winding up, whether voluntary or
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 may
not have been previously paid herenabove
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 to
vote, and may be retired after five years from
the date Of incorporation by the board OF dI-
rectors at par value payable to the holders
thereof out oi 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 four
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 hereinabove
provided, and said stock shall have the sole
voting power in said corporation.
The whole of said preferred and common
stock, or any part thereof, may be issued and
delivered for cash, in installments of such
amounts, and at such times as the board of
directors may determine; and such stock may
also be issued in payment and settlement of
the purchase price of the patent rights here
ment and adjustment of the costs, fees,