The herald., 1915-01-14
CHAR TER
OF MERCHANTS COOPERATIVE MAN
UFACTURING ASSOCIATION, INC

United States Of America, State Of Louisiana.
Parish OF Orleans, City Of New Orleans.
BE it known, that on this thirty-frst GlsU
day OF the month of December, in the year of
our Lord thousand nine hundred and
fourteen tiSl+ and OF the Independence OF
the United States Of America the one hun
dred and thirty-ninth Q39th), before me, An.
thony J. Rossi, a notary public. duly COM
mIsSloned and qualified, in and for this city
and the parish OF Orleans, therein residing,
and IN the presence OF the witnesses herein
after named and undersigned personally
came and appeared: The several persons
whose names are hereunto subscribed who
seveTally declared that, availing themselves
OF the laws Of the State of Louisiana in
such cases made and provided, they have
cOvendnted and agreed and do by these
presents covenant and agree and bind them
selves, as we'll as all such persons as
may hereafter become associated with them, To
form a corporation for the objects and pur-
poses and under the articles and Stipulations
following towIt:
shall be Merchants COOPERATIVE Manuiac-
turing Association, Inc" And under its
said corporate name It shall have power and
authority to have and enjoy corporate exist
ence and succession for the. full term and pc
rod OF ninety years from and after the
date hereof; to contract, sue and be sued; to
make and use a corporate seal, and the same
to alter and break at pleasure; to hold, re-
a
mortgage and hypotheCate property, real, per
Sonal and mixed, corporeal and incorporeal
10 name and appoint such managers, agents,
directors and officers its business, inter
estS and convenience may require, and TO
make and establish, as well as alter and
amend, from time to time, such bylaws,
rules and regulations for the proper govern
ment Of the affairs OF said corporation a.
may be necessary and proper.
Article 1.-The domicile of said corpora
ton shall be in the city OF New Orleans,
State OF Louisiana, and all citations other
legal process shall be served upon the Pres
ildent, of said corporation, or in the event OF
his absence, upon the Vice President thereof,
and in the absence of both of said officers,
upon the Secretary Treasurer of said corpo-
ration.
Article III.-The objects and purposes for
which this corporation l. organized and es.
tablIshed and the nature of the business to be
carried on by it are hereby declared to be:
To engage in the sale and manufacture OF
all kinds and species of drugs. groceries, to-
bacco and cigars and all kinds OF raw mate
rails used III the manufacture OF such prod
uCts; to buy and sell said raw and manufaC-
tured products or articles at wholesale and
retail; to engage III said business in all
parts OF the State of Louisiana and else
where; and generally TO do and perform any
and all things necessary, proper and perth
neut to the objects and purposes Of this cor
poratIon.
Article IN-The capital stock Of this corpo-
raion is hreby fixed at the sum OF twenty
five thousand dollars tS2S,OJ0.OO), divided into
and represented by one hundred and twenty
1--WE O2O shares OF preferred stock OF the
par value of one hundred dollars (SlOO) per
share, and one hundred and twenty-five O25)
shares of common stock of the par value OF
one hundred dollars CSlOO per share; said
preferred stock shall participate in the profits
Of the company with preference over the com
mon stock and shall receive, if earned, div
idend of seven per cent and all excess earn
ings ii any, shall be applied TO and payable
on the common stock All OF sand stock shall
be paid for i'll cash in such instalments
and at such time dafter such notice TO sub
scribers as the board of directors may fix, OF
same may be issued at not les sthan par for
labor done or services performed for said
corporation for property or rights actually
received by said corporation.
Twelve thousand seven hundred dollars
(Sl27OO of the capital stock has been subscrib'
ed to the corporation at the time OF passing
this act Of Incorporation and this corpora
ton will become a going concern and shall
be authorized to commence business wher
and as soon as twelve thousand hve hundred
dollars (Sl2,5OO) of its capital stock shall have
been paid for.
All transfers of the capital stock Of this
corporation shall be made and entered on the
stock book of the corporation and no trans
ferS shall be in any manner binding on tins
corporation unless so entered.
No sale of stock of this corporation shall
be valid unless first offered for a period o
ten days TO the stockholders, through thu
board of directors, at price not 10 exceed
its book value. Upon the failure OF the stock
holders to avail themselves of such purchase
notation of such fact shall be made by thu
secretary-treasurer upon such certificate o.
certificates having been previously rendered
in accordance herewith and thereafter SAT-
stock may be sold without further restriction
Succeeding purchasers thereof, shall, however
be required to offer the same TO the stock
holders for the term and at the value herein
above designated before disposing OF sam
and all of the stock acquired in this corpo
ration shall be subject to the provisions o
this charter.
Article V.-The capital stock of this cor
poration may be increased to the sum o
| fifty thousand dollars (S50,000) by vote o
two.thirds of all of the stock, at a meetin
called for that purpose.
Article VIAL the corporate powers of thi
corporation shall be vested in and exer
cised by a board of directors, composed o
not less than three nor more than nv
| stockholders, which said number of direct
ors shall be determined upon at the time Q
| the annual meeting held on the second Non
day in February each year and before an cleo
| ton for directors shall take place. In tn
event that the board of directors shall cor
sist of three directors, then and IN tina
| event, two of said directors shall be electe
by the common stockholders from among tn