St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1914-08-29
CHARTER
Of the
SLIDELL DRY DOCK z SHIP.
BUILDING CO., LTD.
United States Of America, State OF
Louisiana, Parih Of st.
TammanY

0Am0u 6UU uUU0ESlS06U, PERSONALLY
came and appeared the several per
sons whose names are hereunt0 cub
scribed, who severally declared that
availing themselves of the laws oil
Louisiana in such cases made and
provided. they have contracted and
agreed, and do by these presents COW
enant and agree and bind themselves
as well as all such persons as may
hereafter become associated with
them, to form corporation, for the
objects and purposes, and under the
articles and stipulations following,
to-wit:
ARTICLE I.
The name of the said corporation
shall be
slidell Dry Dock and shipbuilaing
Co., Ltd,
and under its said corporate name
shall have the power and authority
to have and enjoy succession for the
full terms and period of ninety nine
years, from and after the date here
of; to contract, sue and be sued; to
make and use corporate seal, and
the same to break or alter at pleas
ure; to hold, receive,A lease. purchase
and convey, as we'll as mortgage and
hypothecate property real, personal
and mixed. corporal and incorpore-
al; to name and appoint such manag-
ers, agents. directors and officers as
its business interests and convenience
may require, and to make and es-
tablish, as well as alter and amend,
from time to time, such bylaws.
rules and regulations for the proper
government of the said corporation
as may be necessary and proper.
ARTICLE IT.
The domicile Of the said corpora
ton shall be in S1fdell, in the parish
of st. Tammany, State of Louisiana,
and all citations or other legal pro-
cess shall be served upon the presi-
dent Of said corporation, or in the
event of his absence, upon the vice
president thereof; and in the absence
Of both said officers, upon the secre-
tary of said corporation.
ARTICLE III.
The objects and purposes for which
this corporation IL established, and
the nature Of the business to, be car
ried on by 1t are hereby declared and
specified to be shipbuilding, repair
ing and docking of vessels. of any
nature whatever, to acquire, to own
and operate, to charter or lease, and
to sell vessels of every description,
the right to construct, own and oper-
ate docks, wharfs, warehouses, and
all other appurtenances necessary,
convenient and proper to the conduct
of such business, and generally to
hold and exercise all such incidental
powers and privileges as relate to
the objects and purposes herefnabove
set forth.
All of the above corporate func-
tions may be performed both in the
State Of Louisiana, and In any Of the
other States Of the Union, or else
where.
ARTICLE Nv.
The capital stock Of this corpora
ton Is hereby fixed at the sum of
fifty thousand ($50,000) dollars, to
be divided into and represented by
five hundred (50O) shares of stock
of the par value of one hundred
be pad for in cash at such time and
in such amounts, and after such no
tees to the stockholders, as may be
fixed by the Board of directors. or
the same may be issued. at not less
than par for labor done or money or
property actually received or pur-
chased by the said corporation.
Said corporation to become going
concern and to be authorized to
business as soon as five thousand
($5000) dollars Of its capital stock
shall have been subscribed for.
All transfers of stock must be made
upon the books of the corporation by
surrender of the original certificate
properly endorsed for cancellation by
the stakeholder in whose favor such
stock certificate is issued or by his
duly authorized agent. and upon re-
ceipt of said certificate, the secretary
shall be instructed to cancel same
and issue q new certificate in lieu
thereof.
After the said capital stock of
fifty thousand dollars shall have been
issued, no holder of any Of said
stock, without the consent of the
Board Of Directors expressed by
formal resolution to that effect, shall
sell or dispose Of the same to any
person not q stockholder In the COM
pany, until he shall have offered sad
stock for sale at the price bona fide
offered to him by any non-stockhold-
er, to the Board of Directors Of the
company, who shall have the right
to buy said stock at such offered
price, for the benefit Of the stock
holder In the company, and to dis
tribute the same pro rata among such
This clause shall be
on the face Of every GER
tificate of stock, and the omcers Of
the company shall have no power
to transfer ON the books Of the COM
pany any stock disposed Of in viola
ton of this provision Of the charter.
In case of any increase Of the
capital stock. the stockholders Of
record at the time Of such increase
shall have the preferential right to-
subscribe ct par for any such In
crease pro rata to their respective
holdings.
ARTICLE v.
All the corporate powers Of said
shall be vested In and
exercised by q Board Of Directors to
be composed Of seven (7) stockhoid-
era, to be elected annually ON the
18th day Of January. except the first
Board of Directors appointed in this
charter, who shall hold their Offices
until the 18th day Of January. 1915.
Each director hall be entitled to one
vote either In pesron or by proxy.
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