The herald., 1915-04-01

which this corporation is organized, and the
nature of the business to be carried on by
it - hereby declared to be; to engage in the
business of buying, canning. refining and
selling 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 or
otherwise; and generally to all such things as
may be necessary to the prosecution OF such
Article IV.-The capital stock of this cor
poration is hereby declared to be the sum OF
five thousand (s5,OOO0O) dollars, divided into
shares of one hundred dollars each, the
amount of each share shall be paid for &C
cording to law, and this corporation, shall be-
come operative and go into business and Pc
come going concern, when thlrty laol
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 the books thereof.
No stakeholder, shall have the right to as
sign or transfer any share or shares held by
him, unless he shall haze hrst 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 aroi-
trated one arbitrator with the powers OF ami
| cable compounders to be appointed by each
side, and an umpire to be selected by tnose
| two, who shall take oath and whose decision
shall be final, and no resource to the courts 70
Il
stock when so purchased may be reissued
| at not less than par value
| Article V.-CD The corporate powers OF TINS
corporation, shall be vested in board OF oil,
| rectors to be composed of three directors, two
| of whom shall constitute quorum Tor the
transaction of business, to be elected by tne
| stockholders at a general meeting to De nelu
| on the first Monday of January, IN eaGn year
| (20 At all meetings of elections of this cor,
| noration. each stakeholder shall be entitled
to one vote for each share OF stock standing ~
his name on the books of the company, wnich
| vote shall be cast in person or by written
IS The board of directors shall have the
| power to make all bylaws, rules and regula
lions necessary for the conduct OF the Onsi
ness affairs Of said cOrporatiOn;. shall elec,
I from their number president, vice-preSioen
| and a secretary treasurer
| 90 Until the election to be heId as heie ...,
above provided, the following shall constitut'
the first board of directors, VIZ: Willam
i Mccain, president; George w. Boutcher, vice
president, and William F. Mysing, secretary
treasurer. - r .L;s cor
poration NAV be increased or decreased at an,
time in accordance with the laws OF Uni
state This charter may be AMENDED, ai,eIe
or modified, or the corporation dissolVeu, .:
vote of two-ffths of the stockholders votinl
by shares at meeting convened LOT una
. nurpose. after ten days previous notice o
such meeting shall have been gwen IN one e.
|, the daily newspapers published IN TINS CITY
| and the personal notice required by law
Article VII.-No stakeholder of this corpor
|. alton shall ever be held liable for any OF IN
] Indebtedness, contracts or faults tnereol' u
. anv further sum than the unpaid balance ou
the corporation on the shares owned oy mn mn
nor shall any informallty IN the organiZa., '.,
have the effect of rendering this charteI nu
| or of exposing shareholder to any HADN'T
Article VILLA failure at any time to mol
meetings or elect directors or ofhcers
herein provided, shall not "4 tbs coIooratior
hut the existing board of directors and on
GERS shall continue in ofhce until tnelr Sui
cessors have been elected which elec'ioh Sha
. be held as soon as possible. -. L.,
Article IX.-At the expiration OF tins cnai
ter unless sooner dissolved, its AFFAIRS sna
, ! be lioudated by one or more COMM ssione, :,
to be appointed by the stocknoloer era u, ,vbo ar
inc assembled for that purpose ana VINO al
invested with full power to sell an .ne "a;
{ sets and property, real or personal q oon
. corporation and to convey iuii anu w
! PTS essential to a full and complete liquid:
ton of the affairs of this corporation, anu
: distribute the proceeds, if any, IN accordahe
with law. . oe;c. in Nh
! c;tv Of New Orleans, aforesaid, the ID.
: month. and year first aforesaid, IN tne NJ Pr
!, ence of AiphOnse Guneo O.. ana nes;d;na 'i
: Schmidt, witnesses OF lawful age, ,hs;r name
= with the said parties and me, notary ai''
3 Alpbonse ]. Cunieo, Milton Sehmiat, w.
NeCann, for IL shares; G. w. Buteher'
!, shares; M. F. Mysing, u d shs5ss No. Pub
I, the undsrsgned re &c o1eS ar S State
In louisiana ia do hereby certify that the ao9 y
|. and foregoing act of incorporation GU OF u
i Southern MOlasses Co.. La OF OF NEW my office,
n was. this day duly reSoIoe3o orleans Februal
2S' 49, EMILE ]. LEONARD. by. R.