The herald. [volume] (New Orleans, La.) 1905-1953, 1915-03-11
CHARTER
OF SOUTHERN MoLASSES COMPANY
LIMITED

State of Louisiana, Parish of Orleans, CITY
of New Orleans.
Be it known that on this seventeenth day OF
the month of February, A. D., 1915. Before
lie, duly commissioned and qualified, in and
for the Parish and State, aforesaid, therein,
residing and in the presence of the witnesses
hereinafter named and undersigned, person
ally came and appeared, the persons whose
| names are hereunto subscribed, all of the full
age OF majority and residents of this city,
who severally declared, that availing them
selves of the provisions OF the act of the legis-
lature of this state, being known as act No.
267 of the session acts of 1914, they do, by
these presents, covenant and agree and bind
| themselves, as well as all other such persons
as may become hereafter associated with
them, in order to form and constitute a COR
poration body polite in law, for the OBJ
jects and purposes and under the stipulations,
following, to-wit:
Article 1.-The name and title of this cor
poration, shall be Southern Molasses Com
pany, Limited" of New Orleans, and il shall
have and enjoy succession and existence for
of. 1t shall have the power and authority
TO and be sued in its corporate name in
any court of competent jurisdiction; to con.
tract; to make and use a common seal and
alter the same at pleasure; to acquire prop
erty by grant, gift purchase and to devise or
bequest; to lease, hold and dispose of, and
to mortgage and pledge the same, all subject
to limitations as may be prescribed by law;
officers and agents as the business of the cor
poration may require, and to fix their compen-
satiOn to name directors and managers, and
to make and establish bylaws, rules and
regulations for the management of the bust
ness affairs of said corporation as may be
requisite and necessary.
Article 1.-THE domicile of this corpora
ton shall be in the city Of New Orleans,
State of Louisiana, where all citations and
other legal process shall be served upon the
president and in case of his absence upon the
vice president, and in case of the absence of
the vice-president, upon the secretary-treasur-
eer thereof.
Article III.-The objects and purposes for
which this corporation is organized, and the
nature of the business to be carried on by
it are hereby declared to be; to engage IN the
business of buying, canning, refining and
selling molasses, sugar and rice, and IN
furtherance thereof, to buy, lease or acquire
such real property as may be necessary to
properly conduct and prosecute such business,
in the establishment of factories, plants or
otherwise; and generally to all such things as
may be necessary to the prosecution OF sueh
business.
Article IV.-The capital stock of this cor.
poration is hereby declared to be the sum OF
FIVE thousand (SS,00000) dollars, divided into
shares of one hundred dollars each, the
amount of each share shall be PAID ioT ac
cording to law, and this corporation, shall be-
come operative and go into business and be,
come a going concern, when thirty (S)
shares of the capital stock, shall have been
subscribed and paid for, to-wIt: at the exc
cution of these presents. No transfer OF
stock shall be binding upon this corporation
unless same appears on the books thereof
No stakeholder, shall have the right to as
sign or transfer any share or shares held by
him, unless he shall have first offered same
in writing to the board Of directors, which
will have the right to purchase, same within
ten days thereafter, at the valuation deter
mined by the board and in case of dissatis-
faction, as to price the matter shall be arbi-
trated one arbitrator with the powers OF ami
cable compounders to be appointed by each
two. who shall take oath and whose decision
shall be final, and no resource to the courts to
be hereafter allowed. And all the shares OF
stock when so purchased may be reissued
at not less than par value.
Article V-O The corporate powers of this