The herald. [volume] (New Orleans, La.) 1905-1953, 1914-06-18

4
regulatiors for the p-ooer management q.
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under l.rr,,, r.frrr ar |.h,-yisr ~ tIc
United States e. any other country. lrcIgd-
lug the good will Of the same. or nv sg,h
property or property rights; 10 lease rent.
rrr'r Construct maintain and ,n,r9rs l,,j4,
ing, necessary OF incident 10 The blsrre1,
herein concentrated and Ia Inv scu rr,t
or lease real estate or n,rs,n,I rr1rrr-y ~,
the co,rr,,. and conduct nj saij business
either I'm connection with s,id lr,sir,.s or
otherwise and grr,r,IIv q, 10 ali ,Lirgs
uroper and legal that may relate ar af,r,e,-
tam TO the object, and purposrs herein Sc.
forth
Article ~ The rsrit,I stool of This cor.
porarIon is hereby fixed n one hundred tb,,,.
sand dollars ,Si0O,WOUol. divided into and
par value OF one bundled dollars Grlnll zach
To be paid al such times and in such manurT
as the board Of director, may deem ~ and
proper. and to be PAYABLE in cash. p-oprr,y-
or services rendered '''
OF such authorized capital stock two hun.
drcd and fifty shares, amounting Z, twenty
nve thousand dollars ,S5SuG0. shall he me
ierred stock. and seven hundred and ffty
shares. amounting 10 scvrYty.,ye tbI,ssIi
dollars ,S=5uU shall be cgr5,nor srnrL
The holders OF the preferred stock shall he
entitled To receive. when and as declared irom
the surplus or net profits Of the ,ornorari.r,
yearly dividends al The rae II even me- r,,,-
be- arnur u Der cent). nav,blc ON dis ~ he
determined by the board Of directors The
dividends o, The nrrfrrrad s,GrL - IN. -
tenn ~ srvC r,T cen, ~ we O.
and no more shall he c,ImuIatiye and sb5Ii he
payahIc before any dividend on no c,,,,,-,
St,,,L sL,I he - 90 80 -. - u, ~
any vrsr gIviierds Amounting 70 : me- 90,
shall NOT have been naId on ssid rrrfsTTed
stock the deficiency shall be pavabie hefIr-
auy dividends shall he Maid or Set nj 81
he cor,rTor Sol i 0F''' '0'
Whrncycr ali Cumulative diy;do-5s or -.
prefrrr.d stock for = nrcvioI,s yes-s sb.I
have become psvable and the corgns1,, sIaii
have paid such cumulative dividends frr ne
yiouS wears or shall have set -. g., -
sIrpluS ar uef nro6,s srr, s,,ficiert -
the payrnrnt thereof ,ne LC3-d ~ diroc,aIs
NAV then declare dividends on the en-,
mon stock. PAYABLE hen or tbc-eafter or,
Of the remaining surplus or net nToftS
Each share ~ c,rI,r,C,, ell. IiLsiI a-.;,ro
the ownrT thereof Eth IN ,s Sa,, h'
proxy. 10 cast one vate ., All +Ieet;-lIs - Is
Stockholders. hui the n-eferTrd Sol esbsiI
have no voting powers Whatsoever
In the event Of any houidation or d;sso
luton or winding up 'CThcfber Voluntary or
Involuntary OF the con,nany. the holdprs ~
the preferred stock shall be entitled r. he
paid in full both the par amount of Their
shares and the unpaid dividends arrrred
thereon before any amount shall be paid TO
the holders ~ the cor,rnon stort. h,,t -
Of its par value and the unpaid accrued divi-
bends thereon. the remaining assets and
funds shall be divided and paid 10 the hold
ers Of the common stock according 10 their
respective shares.
Certificates of stock shall he signed nv the
president and secretarv-treasureT. and this
corporation shall become a going concern
when three thousand dollars 5SSG6M of its
CAPITAL stock has been subscribed Tor
No transfer Of stock shall be binding uDon
the corporation, unless said transfer has been
made upon the books of the COrDOratIOu. nor
shall any stakeholder pledge o. hypothecate
his stock without first obtaining the nermis-
sion of the board of directors; nor shall any
stakeholder be permitted to sell his stock
without first offering same TO the corno-ation
for sale at its book value said offer 70 he in
writing addressed to the hoard Of direCtors
the corporation TO have ten Q0l davs in which
to accept or reject said offer. In case of com
troversv the board of directors Shall deter.
mine the rule by which the book value Shall
be arrived at
Article " All of the corporate powers of
this corporation shall be vested in and ex-
ercised by a board of directors composed of
three stockholders a majority TO constitute
a quorum 70, the transaction OF all business
The board of directors hereinaboye provided
for shall be elected annually al a general
meeting of the shareholders 10 be held on
the second Monday in Nav, 1915, and each
and every succeeding wear thereafter. after
ten QO days' notice in writing mailed 10
holders last known address
The board of directors shall elect from,
their own number a president vice presi-
dent and shall further elect or anpotnt a
Northumberland who NAV or NAV nrt he
a Shareholder. And such board of directors
shall serve until their successors have been
duly elected and have qualified
Special meetings of the shareholders NAV be
held at the request of any three Shareholders.
ten DAVIS notice in writing as above
provided, stating the object OF such meeting.
ANY vacancy in the board of directors from
any cause Whatsoever. shall be filled for the
uncxpired term bv the remaining directors.
Article VI This act Of incor5oration NAV
be changed. altered, or amended, or this cor.
poration may be dissolved by a vote of two