The herald. [volume] (New Orleans, La.) 1905-1953, 1915-04-08
ACT OF INCORPORATION
OF THE SOCIETY FOR THE DEVELOP
MENT OF AMERICAN SHIPPING
INCORPORATED.

State Of Louisiana, Parish Of Orleans, City OF
New Orleans. =,
the month Of February, in the year OF our
Lord one thousand nine hundred and htteen
and OF the independence OF the United StatSs
Of America the one huIdred and thirty-ninth,
before ne, Charles F. FletohInser notary
public duly commissioned and Qualihed IN
and for the State, Parish and City aforesaid
therein residing, and in the presence OF me
witnesses hereinafter named and Undersigned.
personally came and appeared the several
persons whose names are hereun;o SUBSCRIBED
who declared that. availing themselves OF the
laws OF this state relative 10 the formation
and organization Of corporations, they nave
coyenauted ard agreed, and do, by these
presents covenant, agree and bind themselves,
| as well as those who may hereafter become
associated with them, to torn themselves it,.o
a corporation for the objects and purposes
| with the and under the stipulations
| following. to.wit:
Article 1.-The name and style OF this cor
| poration shall be the Society for the De-
| velopmert of American Shipping, Incorpor.
| ated.', and by said corporate name It shall
| have succession and enjoy existence Tor
Ieriod Of ninety-nine years, unless sooner
| dissolved in the manner provided by law and
| the Articles of this charter; and under SAID
| corporate name it shall have power and au-
| thority to contract, sue and be sued, to make
and use a corporate seal, the same 10 alter
| or break at pleasure, TO make all necessary
| rules and regulations for its corporate man.
| agement and control, and shall have and
! enjoy all the rights, privileges and immuni-
! ties which are now conferred upon, or may
| hereafter be graz ted TO corporations Of the
| same kind and character.
| Article 1.-THE domicile of this corpora
ton shall be IN the city OF New orleans,
! State Of Louisiana, and all citations and other
! legal processes shall be served upon the pres
| ident, or, in his absence, or inability to act,
upon any other officer Of the corporation.
| Article III-The objects and purposes Tor
| which this corporation organized and the
! nature of the business 10 be carried On BY It
| are hereby declared to be to encourage, aid
| assist promote, foster and develop the con-
| struction, acquisition and operation through
out the United States Of America OF nler-
| chant vessels flying the flag OF the United
| States; TO encourage and assist IN the lorna
ton CT healthy public SET tIment IN favor
| II such enterprises through the public press
| or through newspapers, magazines, perlodi-
| Gals pamphlets or other publications to be
issued by or under the auspices OF or with me
| assistance OF this society; 10 encourage, oy
| all proper and legal methods, the enactment
| and enforcement OF legislation favorable TO
| the enlargement, development ard sustained
| prosperity Of the American merchant marine
and American ship owners and seamen; to
| participate and assist IN the promotion, or
| ganIzation or operation OF corporations or other
organizations for the purposes OF building &C
curing, owl ing or operating American ship
ping or other incidental objects and purposes /;
to own stock in any such corporations or or
| CARNATIONS, and to have such general and in
| dividual powers as may be necessary IN FUR
therance of the objects ard purposes herein
set forth such a natural person might
have or exercise, and to have and be vested
with such powers as are conferred upon cor
porations OF the same kind and character,
| under the laws of the State OF louisiana.
Article IN-The authorized capital stock OF
this corporation is hereby fixed at ten thou
thousand 1900 shares of the par value OF
ter $50 dollars each, to be paid at such
times and in such manner as the board OF
directors may deem Mt and proper and may
| g. ~aeh - NJ
| property or services actually received by or
rendered to said corporation This corpora
ton shall become going concern as SCOT. as
twenty-five hundred Is, 10000 dollars of its
capital stock shall have beer subscribed for
and paid in.
| The parties hereto declare that they hereby
subscribe for the number of shares set oppo-
| site their respective signatures hereto, or an
aggregate of $4,000
; The capital stock of thu. corporation may be
| increased to the sum of S2S,OOO.OO in accord
ance with the provisions OF law pertaining
thereto.
The board of directors of this corporation
shall be authorized at any regular or special
! meeting, to elect any citizen of the United
States of America Honorary Member OF
this society. Such honorary member shall re-
tain such membership at the pleasure Of the
| board of directors and need not be stock
holder. Honorary members shall have Nthe
| privilege of attending any or all meetings
of the society and to act in advisory capa-
city. They shall not be naole for any of the
, faults or obligations of the society nor shall
they have any interest in its assets.
Article Vail the powers of this corpora
ton shall be vested in and be exercised by
, board of not less than three more than
, | FIVE directors, to be elected at the stock.
!, holders annual meeting. The persons SC
named as directors all of whom shall be
bona fde stockholders, may select from their
, own number president, vice president
ard a secretary treasurer. The first board
of directors, with post office addresses, are
! Alfred H. Clement. 1lOs Hennen Bldg, New
. Orleans, La, president; ]. w. CORY, Gulf
r port, Miss, vice-president; George Taylor
. s8 Whitney Central, N. o. La, secretary
On the second Tuesday of January, l91,
and on the same day of each succeeding year
r except when such day shall fall on lega
holiday, then upoi. the next following layday
the stockholders shall elect board of direc
, tors for the ensuing year, the board already
installed to continue to hold over until thei
. successors are elected and qualified.
The board of directors so elected shall Sc
lect from their own number the officers o
the corporation as above provided, and shall
also appoint manager of the corporation. TIL
election of directors shall be by ballot, anC
. the persons receiving the largest number o
? votes cast shall be declared elected. Fo
\ electing directors or for any other purpose
each share of stock, whether present b!
. proxy, shall be entitled to one vote, and
majority of votes cast shall be required 4
pass any resolution or decide any question
r | submitted to the stockholders, except for tn
q alteration or amendment Of this charter o
the dissolution of the corporation, herein
. after provided.
The said board of directors shall have pow
. er and authority to make all Necessary rule
h and regulations for the management, opera
: ton and control of the business of the cor
| poration, we'll as to make all necessar,
J. | rules and bylaws, with power TO fill an,
, | vacancy occurring in their number A major
I, | ity of directors voting at airy one time, il
Z person or by proxy, shall be required to pas
any resolution or adopt any bylaw and which
Il when so adopted, shall become valid corporat
. | acts.
Article VI-Notice of all meetings Of stock
E holders for electing directors or for an
!, other purpose, shall be given in writing b
r the secretary, to be deposited in the mail a
4 least fifteen days before such meeting, di
: rected to each stakeholder at his last know
. | address appearing upon the books of the cor
;. poration, unless said notice Is waived in writ
e ing by all the stockholders appearing as sue
4 upon the books
Article VII-This act Of incorporation ma
~ be modified, added to, changed or amende
q or this corporation may be dissolved by an
: | with the assent of the holders Of two-third
n | in amount Of then outstanding stock give
g | at a general meeting of the stockholders, {
: | be convened after fifteen days prior notice
: | as provided in Article VI of this charter
e In the event of the dissolution of sal
II corporation, either by limitation of its char
9 ter, or otherwise, its affairs shall be liqu
y dated by three commissioners, to be appoint
4 ed aid elected at a special meeting Of tn
stockholders for that purpose, as above pre-