The herald. [volume] (New Orleans, La.) 1905-1953, 1915-03-25

which this corporation is organized, and the
nature of the business to be carried on by
1t - hereby declared to be; to engage in the
business OF buying, canning, refining and
selilng molasseS, sugar and rice, and in
furtherance thereof, to buy, lease or acquire
such real property as may be necessary to
properly conduct and prosecute such business
in the establishment of factories, plants OF
otherwise; and generally to all such things as
may be necessary to the prosecution of such
business.
Article .Iv.-The capital stock of this cor.
i've thousand (s5OOO.oO dollars, divided into
shares of one hundred dollars each, the
amount of each share shall be paid for &C.
cordng to law, and this corporation, shall be-
come operative and go into business and be-
come a going concern, when thirty (30)
shares of the capital stock, shall have been
subscribed and paid for, to-wit: at the exc
cution of these presents. No transfer of
stock shall be binding upon this corporation,
unless same appears on the books thereof.
No stakeholder, shall have the right to as
sign or transfer any share shares held by
him, unless he shall have first offered same
in writing to the board of directors, which
will have the right TO purchase same within
ten days thereafter, at the valuation deter
mined by the board; and in case of dissatis-
faction, as to price the matter shall be arbi-
trated one arbitrator with the powers of ami
cable compounders to be appointed by each
side, and umpire to be selected by those
two, who shall take oath and whose decision
be hereafter allowed. And all the shares of
stock when so purchased may be reissued
at not less than par value.
Article V.-(D The corporate powers of this
corporation, shall be vested in board of di-
rectors to be composed of three directors, two
of whom shall constitute quorum for the
transaction of business, to be elected by the
stockholders at a general meeting to be held
on the first Monday of January, in each year.
(2) At all meetings of elections of this cor
poration, each stakeholder shall be entitled
to one vote for each share of stock standing in
his name on the books of the company, which
vote shall be cast in person or by written
proxy.
power to make all bylaws, rules and regula-
tions necessary for the conduct OF the busi-
ness affairs Of said corporations; shall elect
from their number president, vice president
and a secretary treasurer.
az Until the election to be held as herein
above provided the following shall constitute
the first board of directors, viz: William 5.
Mccain, president; George w. Boucher, vice
president, and William F. Mysing, secretary
treasurer.
Article VI.-The capital stock of this cor
poration may be increased or decreased at any
time in accordance with the laws of this
state. This charter may be amended, altered
or modified, or the corporation dissolved, by
a vote of two-ffths of the stockholders voting
by shares at a meeting convened for that
purpose, after ten days previous notice OF
such meeting shall have been given in one OF
the daily newspapers published IN this city,
and the personal notice required by law.
Article VII.-No stakeholder of this corpor-
alton shall ever be held liable for any OF the
indebtedness, contracts or faults thereof, IN
any further sum than the unpaid balance que
the corporation on the shares owned by him,
nor shall any informality in the organization
have the effect of rendering this charter null
or of exposing a shareholder to any liability
whatever.
Article VILLA failure at any time to hol'
meetings or elect directors or officers as
herein provided, shall not work forfeiture
of this charter or dissolve the corporation,
but the existing board of directors and OH
GERS shall continue in Office until their sue,
cessors, have been elected which election snail
be held as soon as possible.
Article IX.-At the expiration OF TINS cnaI ,
ter, unless sooner dissolved, its affairs shall
be lquidated by one or more commissioners
TO be appointed by the stockholders in meet
ing assembled for that purpose and who are
invested with full power to sell al tne as
corporation, and to convey full and COM
plete title thereto, and to do and perform all
acts essential to a full and complete iiqu,da-
ton of the affairs of this corporation, ana 70
distribute the proceeds, II any, IN aeeofuahee
with law.
Thus done and passed in my Office in the
city of New Orleans, aforesaid, the oay'
month, and year first aforesaid IN 'nG pl re
Schmidt, witnesses of lawful age, residing IN
his parish. who have signed their names
with the said parties and me, notary after
due reading of the whole. my @
Alphonse |. Cunieo, Milton Schmidt, w. ;;
McCann, for u shares; G. W. Butcher
4 s"a tue c .a !. B. ROSSER, Not Pub.
1. the undersigned, recorder of mortgages,
n and for the Parish of Orleans, State OF
louisiana, do hereby certify tina! the .; aOG 3Se
sou,bern MoIssses Co, Ltd, of New Orleans,
vas this day duly recorded in my office, IN
Book lIs7, folio s. New Orleans, February
3 i'i' EMILE J. LEONARD. by. R.
Nch. 4-ll.1s-25. Apr. l-S.