The herald., 1915-02-04
CHARTER
OF MERCHANTS COOPERATIVE MAN
UFACTURING ASSOCIATION, INC.

: Il
UFACTURING ASSOCIATION, INC.
United States OF America. State of Louisiana,
Parish OF Orleans, City OF New Orleans.
BE II known, that this thirty first (5lsD
day OF the month of December, in the year OF
our Lord one thousand nine hundred and
fourteen (l9l4) and OF the Independence of
the United States OF America the one hun.
dred and thirty ninth u39thl, before me, An
thony J. Rossi, notary public, duly COM
mlssioned 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
Severally declared that, availing themselves
OF the laws of the State of Louisiana in
such cases made and provided, they have
covenanted and agreed and do by these
presents covenant and agree and bind them
selves, as well 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 stpulations
following towit:
Article 1.-The name of this corporation
shall be Merchants Cooperative Manufac
turing Association, Inc And under its
said corporate name ii shall have power and
authority TO have and enjoy corporate exist
ence and succession for the full term and pc
rod of nInety-nine years from and after the
date hereof; to contract, sue and be sued; to
make and use corporate seal, and the same
10 alter and break at pleasure; 10 hold, re-
celve, lease, purchase and convey, as well as
mortgage and hypothecate property, real, per-
sonal and mixed, corporeal and incOTporeal;
to name and appoint such managers, agents,
directors and officers its business, inter
estS and convenience may require, and TO
make and establish, as well 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 or other
legal process shall be served upon the Pres
Ident 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 is organized and es-
tabllshed and the nature of the business TO be
carried on by II 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 in the manufacture OF such prod
ucts; TO buy and sell said raw and manufac-
tured products or articles at wholesale and
retail; 10 engage IN said business in all
parts of the State OF louisiana and else
where; and generally 10 do and perform any
and all things necessary, proper and perth
nent to the objects and purposes Of this cor
poratiOn.
Article IV-The capital stock OF this corpo-
d
FIVE thousand dollars (S25OOO.OO, divided into
and represented by one hundred and twenty
hve O25) shares of preferred stock OF the
par value of one hundred dollars (Sl0O) per
share and one hundred and twenty tive Q25)
shares OF common stock OF the par value OF
one hundred dollars $500 per share; said
preferred stock shall participate in the profits
of the company with preference over the COM
mon stock and shall receive, II earned. div
idend of seven per cent and all excess earn
ings if any, shall be applied to and payable
on the common stock. All of said stock snail
be paid for in cash or IN such installments
and at such time an dafter such notice TO sub
scribers as the board of directors may fix, or
same may be issued at not les sthan par for
labor done or services performed for said
corporation or for property or rights actually
received by said corporation.
Twelve thousand seven hundred dollars
(SI270O) 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 going concern and shall
| be authorized to commence business when
and as soon as twelve thousand five hundred
dollars (Sl2, 500 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 this
| corporation unless so entered.
| No sale of stock of this corporation shall
| be valid unless first offered for a period OF
| ten days to the stockholders, through the
| board of directors, at a price not to 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 the
| secretary treasurer upon such certificate OF
| certificates having been previously rendered
| in accordance herewith and thereafter said
| 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 SAME
and all of the stock acquired in this corpo-
ration shall be subject to the provisions Of
| this charter.
Article V.-The capital stock of this cor
| poration may be increased to the sum Of
| fifty thousand dollars $4,000 by a vote oi
| two-thirds of all of the stock, at a meeting
called for that purpose.
| Article Wall the corporate powers OF thu:
| corporation shall be vested in and exer
cised by board of directors, composed o.
not less than three nor more than hve
| stockholders, which said number of direct
ors shall be determined upon at the time o.
the annual meeting held on the second Mon
! day in February each year and before an cleo
ton for directors shall take place. In the
event that the board of directors shall con
| sist of three directors, then and IN thai
event, tive of said directors shall be elected
by the common stockholders from among the