The herald. [volume] (New Orleans, La.) 1905-1953, 1915-12-02

persons whose names are hereunto subscribed
who severally declared that availing them.
selves of the laws Of the State of Louisiana
in such cases made and provided and more
particularly Of Act 267 of the General Assem-
bly, of the State of Louisiana of 1914, relating
10 the creation, organization and formation OF
corporations, they have covenanted and agreed
and by these presents covenant and agree and
bind themselves as well as all such other
persons as may hereafter become associated
with them, to form a corporation for the OBJ
jectS and purposes under the articles and
stipulatIors following, tO.wit:
The name and title of this corporation shall
be American Shipping Company, Incorporated,
and under its corporate name II shall have
power and authority 20 have and to enjoy
corporate existence for a period of ninety
nine years from date hereof unless sooner
dissolved 10y liquidation or otherwise; shall
have power 10 contract, to sue and be sued;
to make and use corporate seal and to alter
and break same al pleasure; to hold, receive,
lease, purchase, transfer, assign, convey,
mortgage, hyp0,hecatc, pledge or otherwise
receive or dispose of property, real, personal
and mixed. corporeal and incorporeal; to issue
bonds. and II desired, secure the Same by
mortgage; buy and hold stock in other com
panIes incident TO the objects and purposes
or to the expansion OF the business interests
of the corporation; TO name, elect and APP
point such managers, agents, directors or OttI-
GERS as its business interests may require, and
10 make and establish, alter and amend ITS
bylaws, rules and regulations for its proper
government as may he deemed necessary and
proper, and generally to do any and all
things incident to or necessary and proper Tor
the extension OF the business III which the
corporation ia engaged.
Article Il.-ThIs corporation shall be dOwl-
Ciled at the city OF New Orleans in the State
Of Louisiana and all cItduon or other legal
process shall he served upon the president
OF the corporation and IN the event OF his alb
>cuCe. upon the president.
Il. 1 80
which this corporation il organized aud ere
atcd and the nature Of the business to he
carried on By 1t, are declared to be as fol-
lows:
70 engage in general ship brokerage, ship
agency, ship ChartcTlng and shipping bust
ness; 20 buy. hold, lease, sell, hire, charter
and operate boats, vessels, and water crafts
oi any aud all kind TO act as agents and
representatives for and on behalf of vessels.
their owners pr ChartcTers, and to act as char
trrcrs and sub-ChartCrcrS; to engage IN, place
or handle marine insurance or act as repre-
ScutatIves or agents Of marine insurance COM
panlcS; to insure with any company or per
sons against loss, damage, risks or liabilities
of any kind which may affect this company,
or those for whom it acts; to engage in and
make freight arrangements, contracts OF al
freightrcnt OF any and all kind; contracts
relating TO the transportation OF freight and
merchandise; to buy, sell, deal in or handle
foreign or domestic exchange; TO engage III
StevedOrIng and to make contracts OF all
kinds in reference thereto; to own, contract,
lease or operate wharvcS, docks and storage
yards and to act as baIiee for storage pur-
noses: to acquire, hold, own, exchange shares
Of stock or interest in ships or vessels and
also shares OF stock in other companies inter
cSted in ships or vessels; 10 repair, MAINTAIN
ships or vessels; engage in salvage thereof
to issue bonds or other evidence of indebted
ness; to mortgage, pledge, hyPothecate prop
erty, real, personal mixed OF the com
pany: and GeTe-ally, among the states OF the
l'nited States and with foreign countries, T.
carry on the business OF shipping, ship own
ers ship brokers, ship agents and Charterers
marine insurance, freight contractors, wharf
myers and the like and 10 do any and al
things necessary, incident TO or proper, anC
as may be permitted by law, for the purpose
of furihering and carrying out the objects o.
| the corporation.
| Article IV-The capital stock of this cor
poration is hereby fixed at the sum OF $1,000
| and shall be divided into and represented by
one hundred shares OF the par value OF $40
each Said stock shall be paid for in cash o
| its equivalent as provided by law, and il
such manner and at such time and IN sucl
| installments may be prescribed by tn
board of directors.
| This corporation shall become going con
Germ and shall be authorized to commenc
| business as soon as $4,000 of its capita
| stock shall have been paid for either IN cas-
or its equivalent as provided by law, and al
of said 100000 of capital stock has IN fac
been subscribed lot dt INC VI hllS Paos
ing of this act Of Incorporation.
Article N.-The capital stock of this corpoi
alton may be increased to the sum OF 500
10000 by two-thirds vote OF all OF the stoc
at a special meeting called for that purpos
or at a regular annual meeting OF the col
poratiOn.
Article VI.-All certificates of stock issue
by this company shall be signed by the pres
dent and couutersgned by the vice-pTesiden
or if authorized by resolution of the board I
4 I'LL ha nv
and countersigned by the secretary treasure
The stock Of this corporation can be tran
ferred only on the books of the corporate
and subject 10 such regulations and formal
ties as NAV be by the board of directors tro
time to time prescribed. No stakeholder shd
be permitted to sell or otherwise dispose
his stock without first offering the same
writing TO the other stockholders, through Il
| board of directors, at a price not eXceedlr
| the book value thereof, and said stockholde
/: shall have an option and first right TO pu
/: chase all the shares of stock TO be thus di
. posed of by SALE death, resignation or othe
: wise of any Of the stockholders, and sha
have period of ten days in which to acee
oT decline said offer Should the board
directors or stockholders decline TO purcha
Z said stock, then the stakeholder Cor stoc
, holders) who made the offer to sell or othe
wise dispose OF the stock, may do SO IN ar
manner and at any price he may see mt; b,
each share of stock is issued herein upon u
condition and understanding that no stoc
. holder shall make sale or transfer his sto'
> in violation thereof, and such sale or transfe
8 if made, shall be void and this company sha
, be under no obligation TO list said stot
on its books or TO regard the holder OF Il
certificate thereof.
$ Article VII.-The corporate powers OF TN
E corporation shall be vested in and exercise
e by board of directors composed OF thr
stockholders two of whom snail constitute
r quorum for the transaction Of business.
I, The directors of this corporation may Vo
in person or by proxy st any OF the NEE
ings of the board of directors, and the boa
. of directors may delegate any OF its powe
to any officer or officers or any other rept
sentative of the company by appropriate res
luton TO that effect. The hrst board OF dire
tors of this corporation shall be composed
I'll. w. CORY, president, jules L'Hote, VIC
y president, and Frank Erlinger, secretar
d treasurer, who shall serve until the seeo
: Wednesday in January, 1917, or until th'
n successors are elected and qualified. The
| rectors shall be elected annually by I
stockholders at meeting held on the seco
, Wednesday in January IN each year al an
!. date hereof Notice of said meeting snail
y given ten DAYS prior to the date OF the me,
INC in writing sent to each of the stockho
ers at his last known place residence: Ia
c. stakeholder shall at such annual meeting
other meeting, general or special. be entiti
in person or by proxy to one vote lot eve
= share of stock owned. The elections sh
be held under such rules and regulations
W,,NA IL