The herald. [volume] (New Orleans, La.) 1905-1953, 1915-07-01
CHARTER
OF BOWLING TORPEDO DREDGE CON-
PANY, INCORPORATED
CHARTER
~ :. NM, I4NOONFONAIED.
! United Stafes of America State all nttisna

Parish OF Orleans, City of New Orleans.
BE II known, that on the 10th day OF the
month OF June, IN the year OF our Loro
thousand nine hundred and fifteen, before MT,
Henry George Mccall a notary public duly
commissioned and qualified in and for the
| parish OF Orleans, state Of louisiana, therein
residing, and in the presence OF the witnesses
hereinafter named and undersigned, person
ally came and appeared the persons whose
names are hereto subscribed, who severaly
declared that, ayallIng themselves or the pro-
visions OF the laws OF this state relative to
the organization OF corporations, they nave
contracted, coyenanted and agreed to bind,
form and constitute themselves, and do
hereby bind, form and constitute them
selves, as well all such other persons as
may hereafter JOIN or become associated with
them, into corporation and body polite IN
law, Tor the objects and purposes and under
the articles, agreements and stIpulatIous iUI-
lowing, tO-wit:
Article The name and style Of this cor
poratIOn shall be the Bowling Torpedo Dredge
company, Incorporated, and under that name
IL shaIl nave and ENJOY ali the nights, ad-
Vanlases and privileges granted by law 10
corporations, and shall exist Tor the period
OF ninety nine years from TINS day. Ii shall
nave power to contract, sue and be sued; 10
make and use corporate seal, and the same
To break and alter At pleasure; to hold,
CeINe, lease, reclaim, purchase and convey,
as well as mortgage, hypUthtCdte and pledge
property, both real and personal; 10 issue
bonds, notes and other obligations or uegO-
TABLE instruments; 10 name and appoint such
managers, directors, officers, agents and other
employees, as the interest and convenience
OF sand corporation may require or demand;
TO make and establish such bylaws, rules
and regulations Tor the management and con
troll VI As business and affairs may be
deemed necessary VI eNpedlent and the same
10 Change and alter at pleasure; and to do
all acIs and things necessary and proper to
carry out me OBJECTS and purposes Of SAID
corporation.
Article II-The domicile Of SAID corporation
htTta ly NtsI ia, y. mel.
IN tins state. All citations and other legal
process shall be served on the president, and,
IN has absence, on the vice president, and,
III the absence Of both, on the secretary OF the
corporation.
Article III-The objects and purposes for
which this corporation Is organized and the
nature OF the business to be carried on by IL,
are hereby declared to be: 10 acquire the
patent rights OF James +. Bowling for his
improved eNCayatIug machine under appllcd-
ton for Letters Patent now pending IN the
United States Patent OtiICe, IN Washington,
ID. &, being application No. 2-,S+l; to manu-
taCture, use, lease and sell the SAID eXCavat-
ing machine; to own and operate plant Tor
the manufacture OF SAID machine; TO own,
acquire, buy, reclaim, exCavate, cultivate, de-
velOp, improve, build upOT, lease and sell
lands and real estate; TO construct, own and
operate dredgeS and other machinery neCeS-
saTy to drain, eXCavate and reclaim lands; to
construct, own and operate boats TOR trans
pOTtdtIOn, propelled by steam, gasoline, cleo
trcIty OF other power; to create and establish
drainage districts and drainage systems on
the lands which 1t shall acquire, dram such
districts and TX land charge on the lands
OF such districts tor maintaining suCn drain
age and systems; to carry out, establish, con-
strict, control and suPerIntend any ways, roads,
tramways, ferries, bridges, harbors, water
courses, wharves, levees, entertainments, by
draullc works and other works; and generally
10 do and engage in any other business, I'M
dertaking or enterprise, connected with, grow
ing out OF or incidental 10 any OF the pur-
poses herelnabove set forth.
The consideration for which SAID patent
rights To be acquired is hereby declared
to be the sum OF ninety nine thousand, seven
hundred dollars, represented by nine hundred
and nlnety-seven shares OF stock OF TINS cor
poratIon OF the par value OF one hundred dol
lars each.
Article IV.-The capital stock of said cor.
poratIOn Is fixed at the sum of one hundred
thousand dollars, divided into one thousand
shares OF the par value OF one hundred dol
lars each, which stock shall be paid tor IN
cash property, at such times and IN such
amounts may be determined upon by the
board Of directors.
This corporation shall issue to the said
Bowling nine hundred and ninety
shares Of stock, all full paid and non assessa-
( BILE, and said Bowling hereby subscrlbes tor
said shares of stock, the same TO be paid tor
by being accepted in full payment OF the
patent rights sold to this corporation.
Other subscriptions 10 said capital stock
shall be paid in cash, at such times and IN
board of directors.
No transfer OF stock shall be binding upon
said corporation unless made upon the books
and all certificates of stock shall be signed
| by such officers may be designated by the
board of directors.
The said corporation shall at once become
and be a going concern and shall immediately
commence business.
The said capital stock may be increased
! from time TO time to any amount not exceed
ing five hundred thousand dollars such in
creases to be made as provided by law.
Article V.--All the corporate powers OF SAID
corporation shall be vested in and the man
agement and control of its affairs shall be en-.
! ercised by a board of directors, composed Of
four stockholders. Each director shall own at
least one share of stock and shall be electeu
annually, by the stockholders, by ballot, on
the Thursday following the hrst Monoay IN
! January-the first election 10 be held in 1910
Notice shall be given by mail, addressed 10
| each stakeholder, at his last known place OF
residence as shown the books OF the cor
poration, said notice to be mailed not more
than three weeks, nor less than TWO weeks
before such election, and all elections shall
be held under such rules and regulations as
may be fixed by the board of directors.
! In case OF any failure to hold an election
as above provided, such failure shall not Tor
felt this charter, but an election shall be hello
as soon may be practicable after notice as
above provided.
Each board of directors, at its first meeting
after each election, shall elect from its num-
Der a president and a vce-president; and
shall also elect a secretary and a treasurer,
who may be members of the board or not, as
the directors see fit; and both of said offices
may be held by one and the same person, as
secretary and treasurer, as may be determined
by the board.
A majority of the directors shall constitute
a quorum for the transaction OF all business,
and any vacancy occurring on SAID board
shall be filled by the remaining directors tor
the unexpired term. The said board, or such
officer or manager as it may designate shall
appoint such officers, managers, clerks and
other employees of said corporation as may
be necessary for its business ard shall dis
miss the same; and the tenure of office and
employment of all officers, managers, clerks
and employees shall be during the pleasure
of said board. q,
The said board shall have the right and
power to buy, sell, improve, contract, lease
borrow money, issue bonds and execute mort
cages, and, in general, to exercise all the
out its objects and purposes-all without ret
erence to or authorization by the stockhold-
ers.
From time to time said board shall adopt
| rules, regulations and bylaws for the man
agement and control of the business and at
| fairs of said corporation, and, in its dlscre-
ton, shall cancel, change and modify the
| same.
Article Vino subscriber hereto or stock.
holder of the corporation shall ever be held
| liable or responsible for the contracts, faults
/ or debts of said corporation; nor shall any
| mere informality in its organization have the