The herald. [volume] (New Orleans, La.) 1905-1953, 1915-06-03

lteISi tnereior shall not be vested in the
,be f.,l .. 'ne preferred stock, on account of
inc ialufe or inability of this corporation to
pay Such dividend in each and every 49,
anu 'he holders OF such preferred stock in
dlVidually or collectively shall be absoI,,.i
barred ana prohibited from any such proceed
| lns' ana snail have no cause or right of &C
tion to institute or prosecute anY s,;t -
action Whatever against this corporation on
| account OF such failure or inability I,
| the ADVENT OF the dissolution of this corpera-
uon Ior any reason whatever, the preferred
| stock shall be redeemed at mar u,ith 1921
| dividends of seven per cent q ner c.ntS 80
ahnun before the common stock shall he en-
utica 10 participate in the distribution of the
assets OF the corporation. The common stock
snaL then De redeemed at par, and any re-
naming assets OF the corporation shall then
be distributed prorata to all of the outstand.
ing stock. 0N'''H'iu'
Article VI.-The capital stock of this cor.
poration shall be paid for in cash at such
times and IN such amounts and after such
notices to the subscribers as NAV he fiIeJ
| by the board of directors. excent that =;
payment for the subscription to two thou
sand, five hundred $500 shares of tn, nre
ferred stock of this corporation and five
thousand, one hundred (5lOO shares of the
common stock of this corporation, this cor.
poration may receive and take title TO the
following described property:
| certain portion of land, together with all
| the live stock or improvements theron con-
! famed, situated IN the Fourth Ward of the
Parish OF West Felciana, State of Louisiana.
lying west of Laurel Hill Station on the
fazoo & Mississippi Valley Railroad, con.
| tanning four thousand. one hundred and thirty
! four C4l34 acres, and being partly in Town
ship l South Range 2 West, and partly in
township South, Range 3 West Of Helena
| Meridian, which portion of land ia com
posed of the following named tracts: The
! Halle tract, Draughan tract, Locust Hill
| tract, Fox Field tract, Estis tract Wicker
tract and part of the Rose Mound tract,
and is bounded as follows North by lands
OF Morris Rothschild and Mrs. H. B. Perk-
ms, known as the Fairview plantation, East
by Woodville and Bayou Sara Public road,
| part of the Rose Mound plantation, Mrs
L. E. Argue and Evans, South by Hamil.
ton estate. David Taylor and estate of J. F.
Roberts, Sr., and West by Big BAYOU Sara
creek and Cheerful valley land of Morris
Rothschild. Said portion of land being
shown and included within the red ink lines
| on the attached blueprint of a map of said
property made by w. B. Smith, Civil Engi-
neer, under date Of April l6, 1913 and pa
! raphed "NeNarietur' by me, notary for iden-
| tification, which porperty has been appraised
by the parties hereinafter named as the first
board Of directors of this corporation as hav-
| ing a value of hundred and seventy-six
thousand (S76oOO.GO) dollars and for which
property this corporation is TO pay in addition
! to the twenty-five thousand dollars (S2s,-
0OO.0O Of preferred stock and ffty-one thou
! sand dollars CS5l0OOOO) of common stock here
! above mentioned. the sum of fifty thousand
dollars (s5N,OOOOO in cash and fifty thousand
dollars (S50,OOOO0) par value Of the bonds of
this corporation secured by first mortgage
upon its property.
The above described property contains
| 100000 cubic yards of gravel valued at
SC per cubic yard; 100000 cubic yards of
brick clay valued at SC per cubic yard; 3d.
100000 feet of mixed hardwoods valued at S. 90
per thousand; 1900 acres of land in cultiva-
ton valued at 5000 per acre; $500 acres of
land uncultivated, valued at $1,000 per acre !;
100 head of Devon cattle valued at 5000 per
head; IS cabins and outhouses valued at $1,000
each and u horses valued at $4,000 each; all
| Of which is to be transferred to this company
for the consideration OF one hundred and
seventy thousand dollars (sH6,00OOO as
above set forth
ARTICLE VII-The business of this cor
poration shall be managed, and all the cor
porate powers thereof, except as hereinafter
| stated shall be vested in and exercised by a
board of not less than three 90 nor more
than seven % directors, to be elected from
among its stockholders; and majority of
the directors at any time in office either
present IN person or represented by proxy
| shall constitute a quorum. The hrSt board
of directors of this corporation shall be COM
posed of William +. Williams, whose postof-
fee address is 5l9 Hibernia Bank Building,
New Orleans, La; John Edwin Hart, whose
postoffiice address is 1888 s. Clark Street, New
Orleans, La, and DR.. Armand Mary, whose
postoffiice address is l55 Baronne Street, New
President, DIR. Armand Mary as Vice-Presi-
dent, aId John Edwin Hart as Secretary
| Treasurer. Said board of directors shall serve
until the first annual meeting OF stockholders
for the election of directors until their sue
cessors are elected and qualified; and said
board of directors shall have the power to
increase the membership of Ssfd board at
any time TO a number not exceeding seven
% and shall have the right to elect from the
stockholders of this corporation said addi-
tonal directors.
4 ARTICLE-VIII-On the second Monday in
April, 1916, and annually thereafter on the
second Monday in April in each year, a
meeting of the stockholders of this corpora
ton shall be held at its domicile tor the pur-
pose of electing directors for the ensuing year,
and at such meetings the stockholders shall
have the right of cumulative voting in the
election of directors and shall have the right
of electing the number of directors then in
Office, and if there be not many as seven
directors then in office, shall have the right
of electing additional directors so long as
the full number of directors elected does not
exce=.S seven. failure from any cause
wha.: ever to hold the annual meeting OF
| stockholders, or the failure to elect directors
thereat, shall not dissolve this corporation,
but the directors and officers then in Office
shall remain in Office until their successors
shall have been respectively duly chosen
elected qualified and installed lie dr-. .b.,,
have the power to name executive commit
tee with such membership as It may deter
mine, which executive committee shall, IN
the interim DcIWccn meetings Va bhS
of directors exercise all the powers vested IN
and exercised by said board of directors,
| ARTICLE X-This charter may be amended,
and the capital stock of this corporation may
be increased or decreased, or this corporation
may be dissolved in the method and manner
provided by law.
| ARTICLE XI-No stakeholder of this cor
poration shall ever be held liable or respon-
sible for the contracts or faults OF this cor.
poration in any further sum than the unpaid
balance on the stock for which he has sub
scribed, nor shall any mere intormality In
organization have the effect of rendering TINS
charter null or exposing a stockhoider 70
any liability other than as above provided
Thus done and passed in my othce at the
City of New Orleans, louisiana, on the day
month and year herein first above written
i'm the presence of Irving X. Saal, and Cher
A. Miranne, Jr., competent witnesses, who
hereunto sign their names with said appear
ers and me- notary, after due reading OF the
whole Original signed) w. +. Williams
3l9 Hibernia, (S25O0O twenty-five hundred
preferred (S53,0OO) hfty-three hundred common
DIR. Armand Mary, is Baronne, $1,000 one
hundred shares, common; J. L. Hart, SSS ,
Clark, $1,000 one hundred common; W; u
: Williams, (by W.. +. Williams,) Donaldson
: willie, La, (Sl,0OO) one hundred common. VAT
nesses: l. X. Saal and {. A. Miranne, Jr
George NJ Barnett, Notary PUBLIC.
/, the undersigned Deputy Recorder Of
Mortgages in and for the Parish OF orleans
: State Of Louisiana, do hereby certify tna
, the above and foregoing act OF incorporation
of Good Roads Gravel Company, incorporated
was this day duly recorded in my 9fhice u
! book ll57, folio =, New Orleans, Lai Apr
| o. E,,ila Leonard. DEPUTY