The herald. [volume] (New Orleans, La.) 1905-1953, 1915-03-18
CHARTER
OF THE SOUTHERN COMMERCIAL IN
fORmATlON AND SALES COMPANY Inc

T..
Ihited States of America, State of Louisiana
farlSh OF Orleans, City of New Orleans
DE II known that on this 18th day of Feb
ruaTy IN the year of our Lord, nineteen hun
dred and htteen and the independence OF the
Chted states OF America, the one hundred
ana fortleth, before me, Pierre d. Olivier, a
notary public duly commissioned and Quail
ned IN and for the said city, Parish aut
state, therein residing and in the presence
OF the witnesses hereinafter named and un
uelSlgnd, personally came and appeared the
several persons whose names are hereto sub
scribed, who severally declared that avail
ing themselves of the laws of the State 81
louisiana relative to the organization of cor
poratIons, and particularly OF Act No 267 OF
1914, OF the General Assembly of the State OF
LOUISIANA, they do, by these presents, for
themselves and their associates, successors
and assigns, form themselves into corpora
ton and body polite in Jaw, for the objects
and purposes and under the articles and sti
puiationS hereinafter Setforth.
Article 1.-The name of this corporation
shall be, the Southern Commercial Informa
ton and Sales Company, Inc, and under
that name shall have and enjoy corporate
existence for a period of ninety nine years
and, shall have and enjoy all rights, privi.
leges and immunltieS granted by law TO cor
poratIons; and under its corporate name il
snail have power and authority TO contract
sue and be sued, to make and use a corporate
seal, and the same to change, alter or de
stroy, at pleasure; to hold; receive, hypo
thecate, convey, sell, lease, pledge or mort
gage real and personal property; to borrow
and loan money: to issue negotiable bond.
and notes, or other evidences of debt; &
have and employ such managers, directors
ofhcers and agents, and other employees, a
its interests may require; and TO make anC
establish such bylaws, rules and regulations
for the proper management and control OF
the affairs OF the said corporation as may be
deemed necessary and proper by the Board OF
Directors; and the same to alter and amend
al pleasure.
Article 1.-THE domicile of said corporation
shall be in the City of New Orleans, State OF
Louisiana, and all citations and other legal
process shall be served on the President, and
in his absence, on the SeCretary-treaSurer OF
said corporation.
Article III.-rhe objects and purposes OF
this corporation, and the nature of the bust
ness TO be carried on by it hereby de
Clarcd TO be: To carry on the business OF
agents and brokers' to buy or sell on commits
sion for account OF manufacturers, whole
salers, retailers and of other persons; to act
as agents for any and all persons having
goods, wares, merchandise, or other articles
to sell c. wishing TO buy same; to carry on
general commission, agency and brokerage
business, and generally to do and perform
each and every other act and thing necessary
and incident to the carrying on of such bust
ness.
Article IV.-The capital stock of this cor
poration is hereby fixed at the sum of five
thousand dollars (s5,0OOOO) to be represented
by one thousand 1000 shares OF the par
value of five dollars $500 each, and two
thousand FIVE hundred dollars (S2, 10000 of
said capital stock shall be subscribed to be-
fore the corporation shall be going concern
and commence to do business. And this cor
poration shall have the right according to law
TO increase its said capital stock to fifty
thousand dollars CS50O00.00) All shares of
stock shall be paid for in cash, property re-
ceived or labor or service performed, and
must be fully paid before the issuance of the
nd hal he
able: provided, that the Board OF Directors
shall have the right to issue said stock for
notes, on terms of payment. Said stock shall
be represented by stock certificates, transfer
able only on the books of the corporation, on
surrender of the outstanding certificate, or
proof of loss thereof, and under such rules as
the Board of Directors may provide.
Article N.-The business of this corporation
and the corporate powers OF same shall be
conducted by and vested in Board Of Direc-
tors composed of not less than three more
than nine stockholders who shall be elected
by a majority OF the stockholders on the
first Monday of January of each year. In the
event that said day shall fall on a dies non,
then said election and meeting shall be held
on the next judicial day thereafter: Election
of directors and meetings of stockholders shall
be held at the domicile OF the corporation after
at least fifteen days notice in writing shall
have been given to each stakeholder by mail
to law. Each share of stock shall
be entitled to one vote by the owner thereof
or his agent thereto duly authorized accord
ing to law, and there shall be no cumulative
voting by stockholders. Three members of the
Board of Directors shall constitute a quorum.
The Board of Directors shall select from ITS
number a President, Vice President and
Treasurer, at its hrst meeting after
its election. Any vacancy occurring among
the Board of Directors or officers shall be
filled by the Board of Directors. Until the
first Monday of January, 1916, the following
shall be and constitute the Board OF Directors,
and shall, at their first meeting to be held
within ten days after Incorporation, elect the
above officers from among their number, to-
wit: Carl Sommer Larsen, bll PIytania St,
Audubon Bldg, New Orleans, La; Henry
Wirth, ga N St. Patrick St., New Orleans,
La; Viggo Knuth. 1881 Pine ST.. New Orleans,
La, and they shall hold Office as such until
the first Monday in January, 1916, or until
their successors are duly elected and quail
fed.
Article Vino stakeholder shall ever be
held liable for any greater amount than the
unpaid balance of his stock subscription, nor
shall any informality in the organization IN
crease his liability.
Article VII-This act of incorporation may
be changed, altered or modified, by vote OF
two-thrds of all its stock at regular meet
ing of the stockholders of said corporation
held according to law. And this corporation
may be dissolved according TO the provisions
Of section Is of Act 267 of 1914, of the General
Assembly of the State of louisiana When
ever this corporation is dissolved, its affairs
shall be liquidated by three liquidators
elected by the stockholders at the general
annual meeting of stockholders or at special
law In case of death or inability to act on
the part of one of said liquidators, or two OF
them the survivor or survivors shall continue
to act and liquidate the affairs of said cor