The herald. [volume] (New Orleans, La.) 1905-1953, 1915-01-07
CHARTER
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 (3lsO
day of the month of December, in the year of
our Lord thousand nine hundred and
fourteen (l9lI) and OF the Independence OF
the United States OF America the one hun
dred and thirty-ninth Q59th), before me, An.
thOny J. Rossi, a notary public duly COM
mis- oned 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 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, well all such persons as
may hereafter become associated with them, TO
form corporation for the objects and pur
poses and under the articles and stipulations
| following towit:
Article The name of this corporation
| shall be Merchants Cooperative Manufac-
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 nIne years from and after the
| date hereof; to contract, sue and be sued; TO
| make and use a corporate seal, and the same
| 10 alter and break at pleasure; to hold, re-
| Ceive, lease, purchase and convey, as well as
| mortgage and hypothecate property, real, per
| sonal and mixed, corporeal and incorporeal
| to name and appoint such managers, agents,
| directors and officers as its business, inter
| ests and convenience may require, and 70
| 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
| pfI nttysi nd a
legal process shall be served upon the Pres
ident OF said corporation, or in the event OF
his absence, upon the Nlce-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 fol
which this corporation IS organized ana es
tablished and the nature of the business TO be
. | carried on by il are hereby declared to be
! To engage in the sale and manufacture o
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 manuiac
, tured products articles at wholesale ant
: retail; to engage IN said business IN al
| parts of the State of Louisiana and else
where; and generally TO do and perform an!
and all things necessary, proper and peru
, nent 10 the objects and purposes OF this cor
. | poration.
Article IV.-The capital stock OF this corpc
raion is hreby fixed at the sum OF twenty
five thousand dollars (S2S,OOO), divided INT
. and represented by one hundred and twent!
five Q2S) shares of preferred stock OF IN
par value of one hundred dollars (SlUO) pc
! | share, and one hundred and twenty N<c
shares of common stock of the par value Z
| one hundred dollars (SlO0) per share; sai
| preferred stock shall participate in the proh'
!; of the company with preference over the con
!; mon stock and shall receive, II earned, Oily
!; idend of seven per cent and all excess ear
d ings If any, shall be applied TO and payao
on the common stock. All of said stock Sha
o be paid for in cash in such installment
V and at such time an dafter such notice TO SUI
t scribers the board OF directors may TX, :
d same may be issued at not les sthan par Il
2 labor done or services performed tor sai
IS corporation for property or nights actuall
J. received by said corporation. "
I Twelve thousand seven hundred dollai
| 1872 7OOl of the capital stock has been subscril
" | ed 10 the corporation at the time OF passir
. this act Of Incorporation and TINS cofpol
- tion will become a going concern anu snd
- be authorized to commence business VINE
= | and as soon as twelve thousand hve hunur'
,e dollars (Sl2 500 of its capital stock shaii ha
n been paid for. -
~ All transfers of the capital stock OF IN
~ corporation shall be made and entered on y
| stock book of the corporation ana no fan
6 fers shall be in any manner Olnulhs OH III
of corporation unless so entered
i | No sale of stock of this corporation sn;
" he valid unless first offered for period
&c ten DAYS to the stockholders, through |
~ | board of directors, at price not 10 eNoe
its book value. Upon the failure Oh 'ne Stoo
notation of such fact shall be made by I
&C | secretary-treasurer upon such certlhcatS
of certificates having been previously tender
s in accordance herewith and thereafter sa
y. stock NAV be sold without further restrictic
,;s Succeeding purchasers thereof, shall, howeV
~ he required to offer the same TO the stoS
holders for the term and at the value here
above designated before disposing OF sa
and all of the stock acquired in this corI
ration shall be subject TO the provisions
this charter. 49,. .
Article V-The capital stock of this c
poration may be increased to the sum
tfty thousand dollars (S500O0) by vote
two.thirds of all of the stock, at meet
called for that purpose.
Article VI.--All the corporate powers OF u
corporation shall be vested IN ana eN
ID cised by a board of directors, composed
- NOT less than three nor more than
" stockholders, which said number OF DIRE
- oTs shall be determined upon at the time me
"A he annual meeting held on the second "a
~ day in February each year and before an e.
II ton for directors shall take place. In
~ event that the board of directors shall {
~ sist of three directors, then and In I
- event. two of said directors shall be elec
by the common stockholders from among