The herald., 1915-05-27

holders OF the preferred stock o. oN al u
t.v uE OF inability of this corporation :,
fJ ~ usluehd IN each and every wear
Siu inc holders of such preferred sol =;
diVidually or collectively Shall he ,hsHiH.i "a
| barred and prohibited from anv such - =
ing dhq snail have no cause or rigbt - ~
non 10 institute or prosecute any sr;t .,
| 800 ""S'e'et against this corporation or
| account OF such failure or inabiI;t,
| 'ne du'eht OF the dissolution of this COM
| ton Tor any reason whatever r.. rssP"
| STOCK snall be redeemed at par with acc,ol
uINIuehdS OF seven per cent q ner conf -.
annuin before the common stock shall he en-
| ~ 70 participate IN the distribution of the
| assets OF the corporation. The common StocL
! shall then be redeemed at mar ana a., -
naming assets Of the corporation shall ,b.
DC distributed prorata to all of the orItstand.
| ing stock. ''' ou's'ahu
Article El.-The capital stock of this cor.
| PoIdt'oh Shall be paid for in cash At such
N''Cs ana IN such amounts and after sucb
| notices to the subscribers as NAV he e.
by the board of directors, except that in
payment Tor the subscription TO two H..
Sdnd' i've hundred t25OO) shares of the prc.
IsIieu STOCK OF this corporation and five
.nousdnd' one hundred $500 shares of the
common stock Of this corporation. This CO..
roraton may receive and take title 10 IN.
following described property:
- certain portion OF land, together with all
the live stock or improvements theron con
,"''ieu' SITUATED IN the Fourth Ward Of the
Parish OF West FcliCiana State of 7 o,,;s;
,ying west Of Laurel Hill Station on the
fazoo 4 Mississippi Valley Railroad CON.
! tanning tour thousand. one hundred and thirty
tour t4lS4 acres, and being partly in Town.
ship South Range West, and par,Iv !,
township ! South, Range 3 West Of Helena
Meridian, which portion of lard ;s cornl
posed Of the following named tracts. tn.
Halle tract, Draughau tract. Locust II;U
tract, FOX Field tract, Estis tract Wicker
tract and part of the Rose Mound tract
and IS bounded follows: North bv lands
OF Morris Rothsshild and Mrs. II. b. Perk-
ms, known as the Fairview plantation East
by Woodville and Bayou Sara Public road
part OF the Rose Mound plantation. Mrs
L. r. Argue and Evans South by Hamil.
ton estate, David Taylor md estate of J. F.
Roberts, Sr., and West by Big Bayou Sara
creek and Cheerful valley land of Morris
Kothschild. Said portion of land being
shown and included within the red ink lines
on the attached blueprint Of a map of said
property made by w. Il. Smith, Civil Enci-
neer, under date Of April 16 1913 and pa
raphed NeNarletur by me. notary for iden-
ufcatiOn, which property has been appraised
by the parties hereinafter named as the first
board Of directors of this corporation as hav-
ing value Of one hundred and seventv-six
thousand tSH6,0OOOO) dollars and for which
property tins corporation is to paw in addition
to the TWENTY-FIVE thousand dollars (S15
OOO) Of preferred stock and ffty-ore thou
sand dollars (SSl,OOOO0) Of common stock here
above mentioned. the sum Of fifty thousand
dollars tSSl0nOl in cash and fifty thousand
dollars tS5OC0OOO) par value of the bonds of
this corporation secured by first mortgage
upon its property.
The above described property contains
lO'"O,Uo cubic yards OF gravel valued at
SC per cubic yard; 100000 cubic wards of
brick clay valued at SC per cubic yard; 80
100000 feet of mixed hardwoods valued at 100
per thousand; 300 acres of land in cultiva-
tor, valued at 5000 per. acre; $500 acres of
land uncultivated valued at $1,000 per acre:
100 head OF Devon cattle valued at 5000 per
head; IS cabins and outhouSes valued al 500 90
each and II horses valued at $4,000 each; all
OF which is to be transferred to this company
for the consideration of hundred and
seventy-six thousand dollars (Sl76OOO.OO as
above set forth
ARTICLE VII-The business of this cor
poration shall be managed, and all the cor
porate powers thereof, except as hereinafter
stated, shall be vested in and exercised by
board of not less than three CD nor more
than seven az directors, to be elected from
among its stockholders; and majority of
the directors at any time in office either
present IN person or represented by proxy
shall constitute quorum. The first board
OF directors OF this corporation shall be COM
nee address is 5l9 Hiberna Bank Building,
New Orleans, La; John Edwin Hart, whose
postoffiice address is 1888 s. Clark Street, New
Orleans, La, and DR.. Armand Mary, whose
Orleans, La, with William +. Williams as
President. DIR. Armand Mary as Vice Presi-
dent, and John Edwin Hart as Secretary
Treasurer. Said board of directors shall serve
until the first annual meeting of stockholders
for the election of directors until their sue
oessors are elected and qualified; and said
board of directors shall have the power to
increase the membership of said board at
any time to number not exceeding seven
% and shall have the right to elect from the !
of this corporation said add- !
tional directors.
ARTICLE-VIII-On the second Monday in |
April, 1916, and annually thereafter on the /
second Monday in April in each year, a |
meeting of the stockholders of this corpora |
ton shall DE held at its domicile for the pur- |
pose of electing directors for the ensuing year,
and at such meetings the stockholders shall !
have the right of cumulative voting in the |
election of directors and shall have the right /
IF electing the number of directors then in |
office, and if there be not many seven
directors then in office, shall have the right |
IF electing additional directors so long as
he full number of directors elected does not
exceed seven. A failure from any cause
whatsoever to hold the annual meeting of
or the failure to elect directors
hereat, shall not dissolve this corporation,
put the directors and officers then in office
shall remain in office until their successors
,hall have been respectively duly chosen,
elected, qualified and installed.
ARTICLE IX-The board of directors shall
lave the power to name an executive commit
ee with such membership it may deter
nine, which executive committee shall, in
he interim between the meetings of the board
# directors exercise all the powers vested in
md exercised by said board of directors.
ARTICLE X-This charter may be amended,
md the capital stock of this corporation may
,e increased or decreased, or this corporation
nay be dissolved in the method and manner
provided by law.
ARTICLE XI-No stakeholder of this cor
oration shall ever be held liable or respon-
ibe for the contracts or faults of this cor
.Is.
,alance on the stock for which he has sub
cribed, nor shall any mere informality in
rganization have the effect of rendering this
harter null or exposing a stakeholder to
ny liability other than as above provided. |
Thus done and passed in my office at the
'ity of New Orleans, Louisiana, the day,
lonth and year herein first above written,
n the presence of Irving X. Saal, and Cheri
|. Miranne, Jr., competent witnesses, who
ereunto sign their names with said appear
rs and me, notary, after due reading of the
hole Original signed w. +. Williams,
l9 Hibernia, (S25,0OO twenty-five hundred
referred, ($55,0O0) ffty-three hundred common;
Or. Armand Mary, l55 Baronne, $1,000 one
undred shares, common; ]. Z. Hart, 1888 5.
lark, $1,000 one hundred common; w. ID.
lille, La, $1,000 one hundred common. Wit
esses: /. r. Saal and {. A. Miranne, Jr. {
gorge NJ. Barnett, Notary Public |,
/, the undersigned Deputy Recorder OF
iortgages in and for the Parish of Orleans, !
tate of Louisiana, do hereby certify that
le above and foregoing act of Incorporation
Good Roads Gravel Company, incorporated, I
as this day duly recorded in my office in !
ook ll57, folio =, New Orleans, La, April