The herald. [volume] (New Orleans, La.) 1905-1953, 1915-01-14

mcnt and control OF its business and affairs
shall be exercised 10y 4 Board OF Directors
composed OF three % stockholders which num-
Der may be increased TO no more than five 81
Al the discretion OF the Board OF Directors.
majority OF the directors shall constitute a
quorum for the transaction Of all business The
directors shall be elected annually, by ballot
the stockholders Oh the first Monday Of the
month OF February of each year. All elections
shall lbc held under such rules and rcgula-
tons as may be determined by the Board OF
Directors. but after at least ten days notice
OF such election shall have been given TO each
stakeholder by mail sent to his last known
address, OF by publication for al least ten
days preceding such election in one OF the
daily English Newspapers published in the
Cuy Of New Orleans. The directors thus
elected shall continue in office FOR one wear
or until their successors shall have been duly
elected and qualified. No failure To- hold an
elected shall be regarded as a forfeiture OF
tins charter. Any vacancy occurring on said
Board II Directors shall be filled by the -c-
naming directors Tor the uucNpiIcd term.
Said Board OF Directors shall likewise elect
determine To increase the number of the Board
as above provided. SAID Board shall, al IT,,
inst meeting, elect from among It's number
a President, a klce-PrusIdcut, Secretary
and Treasurer. Il may combine the two
last mentioned Offices into one and may even
elect Secretary who Is not stakeholder or
director. said Board OF Directors shall have
the right 10 appoint and dismiss such clerks
managers and other employees of the C0rpor-
alton, including the Secretary who Is not a
stakeholder or director as conditions may
Justify or the business OF the corporation may
require. The tenure OF othcc of all employees
of the corporation shall be during the pleasure
OF the Board Of Directors.
Article VI No stakeholder shall ever be
held liable or responsible for the contracts.
faults or debts OF sand corporation. nor shall
any mere Iuiormality IL its organization have
the effect OF rendering this charter null or
OF exposing 4 stockholdcr TO any liability
beyond the unpaid balance due on the share,
Article VII. This act of Incorporation may
De changed, modified or altered. or thu cor
puratlon may be dissolved IN accordance with
the provisions OF Sections No. o and 3 OF
Act No. 2o7 Of the General Assembly Of the
State OF Louisiana for the year 1914 In the
event OF the dissolution Of this corporation By
the cNplratlur Of lis charter, or otherwise, It
business and affairs shall be wound up by
three hquIdators to be elected by and from
among the stockholders at the meeting which
decides to HquIdatc. Said hquIdatOrs shall
have full power and authority to settle all
the business and affairs Of the corporation.
In case of the death or inability Of any OF
SAID hquldatorS, the survivor or survivors
SHAH appoint a successor or successors to
him or them from among the stockholders
Article VIII. Immediately after the signing
OF this act OF Incorporation the stockholders
shall elect from among their number Pre-
Sldent, a NIce-President and a Secretary
Treasurer, who shall hold office until the
election to be held in February 1915.
thus done and passed at my office in the
City Of New Orleans, on the day, month and
year, herein first above written, in the pres
ence of Theodore \. Beck, and Miss Odie
Mussor both of this City, competent witness
ses who have hereunto signed their names
with the said Appearers and me, Notary, after
due reading Of the whole.
T. a. Beck, Odile Musson,
]. f. Pierce, Milwaukee, Wis. per +. w.
Smith, Two hundred ninety-eight shares;
a. T. Wright, Milwaukee, Wis, per f. w
Smith, One share; f. w. Smith, New Or
leans, La, One share.
ROBERT LEGIER. Not. Pub
|, the undersigned Recorder of Mortgages
in and for the Parish of Orleans, State Of
louisiana. do hereby certify that the above
and foregoing act OF Incorporation of the
PIERCE INVESTMENT COMPANY, IN
CORPORATED, was this day duly recorded
in my Book, ll27, folio
New Orleans, La, January 18th 1915.
EMILE J. LEONARD, by r.
A true copy from the original act.
ROBERT LEGIER, Not. Pub
Revenue Stamp
Jan. l4-2l-2S. Feb. 4-ll-1S