The herald., 1915-04-01

! TEN OF retail lumber accounting. to obtain,
! collect, tabulatc, verify and furnish facts
| and information to the actual costs OF pro-
| duCing, manufacturing, handling, shipping,
/ selling and placing lumber on the market Tor
| sale; and TO furnish information and facts Tor
/ the practicable and economical methods to be
| adopted therefor; 10 obtain, collect tdbulaIc,
publish and furnish the wholesale price of
/ lumber from actual purchases and the actual
: retail value OF same; to establish, operate
/ and MAINTAIN a freight rate bureau for the
purpose OF securing proper, equitable, fair and
equal freight rates and for the purpose of
| adjusting any and all differences between the
| shipper and carrier, conSIgnor or CousIgnee,
! the purchaser and seller of lumber; 10 obtain,
collect and tahulate information and facts
/ about and regarding the various branches of
| insurance, enecung or appertaInIng to the
/ retail lumber business; to arrange for and
! secure tar, equitable and proper hrc rates for
/ insurance eftectIug and appertaining TO the
! retail lumber business; to obtain, collect and
! tahulate and furnish information relative to
| tax privileges state laws and city ordinances
and TO obtain and secure fair, equitable and
I just tax regulations and privileges for the
| lumber business; TO obtain, collect and tab
| ulate information regarding uniform terms,
! grades OF lumber and the standardization Of
| the sizes thereof; to establish, operate and
| maintain a bureau for the purpose of arb-
! tratng and adjusting differences between
Wholesalers, retailers, manufacturers or con-
sumerS OF lumber; to publish, furnish and sell
such facts, information and data so obtained
collected, tabulated and verified TO such per
sons, companies, or corporations as may sub
| scribe for the same, and generally to do all
things incidental 10 and necessary to carry
out the objects and purposes for which this
corporation is organized
Article IV-This corporation may sue and
be sued IN It's corporate name; hold, have,
receive, purchase, convey, sell, mortgage,
, hypothecate, pledge. lease and suitcase, and
ENJOY real, personal and mixed property; also
| borrow and lend money and make con-
| tracts, receive grants of land or per
sonal property and make and use cor
porate seal, the to alter and break
at pleasure; name and appoint such managers
directors, officers, clerks and agents, as the
interest and convenience of said corporation
may require; make and establish such by-
laws, rules and regulations for the proper
management and regulation of the affairs of
said corporation as may be necessary, and
the same TO alter and change at pleasure; and
shall possess all the rights, powers and priv.
legeS 10 which corporations are, or may be by
any general law laws of this State autho-
rlzed and entitled TO possess Said corpora
ton may exercise its corporate powers within
any other state or territory i'll the United
States or foreign country that shall permit
the same
Article V.-The capital stock of this cor
porauon Is hereby fixed at the sum OF five
thousand and OO-lOO (S5,0OOOOJ dollars, repre-
sented by five hundred 500 shares of ten and
OOlOO tSlOCO) dollars each. All stock sub
ScTibed Tor shall be payable in cash at the
same may be issued at not less than par for
property actually received by said corporation.
The said corporation shall commence business
when twenty-five hundred dollars worth of
stock shall have been subscribed for AM paid
All transfers OF stock shall be made on the
books OF said corporation by surrender of the
certlhcate thereof to the presiding officer, who
shall write the word Cancelled promptly
across the face thereof and erase the presi-
dents signature therefrom before issuing
new certificate. The Board of Directors here
IN provided tor, shall have the right to issue
new stock IN place of cancelled stock
SAID capital stock may be increased in the
manner provided for by the laws of this state
Whenever an increase of said capital stock
shall have been authorized, fifteen DAYS writ
ten notice shall be given to each stakeholder
within which time persons holding stock in
this corporation shall have the right to sub.
scribe for said increase of stock in proper
tion TO the number of shares of stock held by
them, and which additional shares shall be
PAID tor at such times and in such manner,
as the Board of Directors may direct.
Alter the expiration of the said time for
subscription and payment the Board of Direc-
tors may dispose of the shares not taken, for
the beneht OF the company in such manner
as they may think proper at not less than par
value.
Article Vl-At all elections by meetings
of the stockholders each share of stock shall be
entitled to one vote to be cast either by the
person in whose name the stock appears on
the voting or by his agent or proxy duly
authorized in writing to that effect.
Article VII-The business and affairs and
corporate powers of this corporation shall be
transacted by board of not more than seven
directors nor less than four directors to be
composed of stockholders thereof and they
and each OF them shall be elected at a meet
ing to be held for that purpose. The stock
holders may, however, elect less than seven
directors at any annual meeting and the stock
holders may prior to the next annual meeting
elect additional directors up to the maximum
number herein provided for, to-wit: Seven dl-
rectors, but, the directors cannot increase their
own number though they may fill vacancies
as hereinafter provided:
John {. Cremer, Casa Grande Apartments,
New Orleans, La; George X. Larrieu, All
Mestayer, 1928 Dumaine street, New Orleans,
La, and George f. Ferchaud, 1923 Ursuline
avenue, New Orleans, La, shall constitute
the first Board of Directors and shall hold
Office until the second Tuesday in February,
1916, until their successors elected and
qualified, each subsequent board shall take
their seats Immediately following their cleo
ton, or as soon thereafter as practicable and
shall hold their office until their successors
shall have been elected and qualified. The
directors hereinabove named shall select their
own officers.
The officers elected and designated to serve
until the second Tuesday in February, 1916
or until their successors shall be elected are
as follows, to-wt:
John c. Cremer, PRESIDENT; George X. Lar
rieu, vice-president and X. F. Mestayer, sec
rotary, and George f. Ferchaud, treasurer.
On the second Tuesday in February, 1916
and annually thereafter an election for d.
rectors, by the stockholders shall be held at
the office of the corporation, after fifteen Q5)
days notice thereof shall have been given in
persons or by depositing the same in the post
office, properly addressed to the last known
address of the stcokholder of said meeting
Every Board of Directors shall at its first
meeting after its election, as soon there
after practicable elect from their own num-
Der a president, and first vice-president
The said Board of Directors shall also elect
a secretary and treasurer, who may combine
the said two Offices in one person. A failure
to elect directors on the date above speci-
fed shall not dissolve the corporation, but the
then existing Board of Directors shall con-
tinue in office and another election shall be
held as soon thereafter as practicable at
time to be fixed by the Board of Directors
then in office, whereof fifteen days prior
notice shall be given in the manner herein
above provided, which notice shall be full
and complete notice to all stockholders of such
meeting.
Any vacancy in said Board of Directors
ing directors. A majority of the members of
said Board of Directors shall constitute a
quorum for the transaction and management
of all business of said corporation They may
make such bylaws, rules and regulations as
they may think proper for the transaction of
the business and affairs Of said corporation,
and change, alter and amend same at pleasure;
appoint and FIX salaries of all officers, clerks
and employees, the same to change or dis
miss at pleasure; fix salaries for officers pro-
vided for herein, sell, convey, mortgage,
a,A rhaca