The herald. [volume] (New Orleans, La.) 1905-1953, 1915-03-04

as the interest or convenience of said cor
| poratiou may require; to make and establish
| bylaws, rules and regulations for the proper
| management and regulations of its affairs a,
| may be deemed necessary and proper, and the
| same to change or alter at pleasure; and to d,
| all other acts and things permitted by Law
dS may be necessary and proper TO carry out
the objects and purposes of this corporation,
as herein set out
Said corporation, unless sooner dissolved in
| accordance with the stipulatonS Of this
charter. shall exist and continue to have
succession for period of nncty-nuc tgyj
years from date hereof.
The president. or in his absence. the vice
president. or. in his absence, the secretary
shall be the proper person upon whom citation
other legal process shall be served.
Article II-Thc objects and purposes for
which this corporation Is organized, and the
nature of the business to be carried on by il,
are declarcd to he the following, viz:
To purchase, acquire, lease, hold improve.
sell ALLEVIATE, mortgage, pledge, pawn or
otherwise hypotheCate property, real, personal
and mixed; Corporeal and inCorporedl. and IN
connection with its business, to issue notes.
bonds or other evidences Of Indebtedness and
to do and perform all other things necessary
or convenient to enable Is to carry out the
objects and purposes above set forth
Article llI.-Ihe capital stock OF this cor
pOration shall he the sum of seventy five
thousand dollars tS75,T0OO). divided into and
represented by seven hundred and fifty T5W
shares OF the par value Of one hundred dol
lars tSlOOl each, which stock shall be paid
for III cash. or the same may be issued and
delivered in payment Tor actual services rem
dered the company, or in exchange for prop
erty or rights transferred TO, received by,
SAID company at its par value; but no stock
shall ever be issued or delivered except at
its par value for cash. or for services actually
rendered, property actually received or
transferred; provided that the annexed aC-
Curate detailed and itemized description of
property, as to amount, location, extent char
tg nj ,arnt aud
of value as appraised by the directors shall
be and form part OF this act Of Incorporation,
In accordance with the Intents and purposes
OF Act No POI Of the General Assembly of
the State OF Louisiana for the year 1914
The capital stock of this company may be
increased or decreased by complying with the
laws OF the State OF Louisiana, providing for
the increase or decrease Of the stock Of cor
poratons.
Any stakeholder may sell. assign. or trans
fer his stock IN this corporation provided
thirty tNl days prior notice of any such in
tention to sell, assign or transfer the same be
given the company. The company shall have
the first privilege of purchasing same, after
which notice the said stock may be sold in
open market.
The capital stock Of this company shall be
worcestershire and transferable only on the
books OF the company.
The stock subscribed for shall be paid upon
call Of the board Of directors in such amounts
and at such times and in such manner as said
notice in writing to the subscribers
This corporation shall he authorized to com
menCe doing business as soon fifty thou
sand dollars Of the capital stock shall have
been subscribed for. The board of directors
shall have the right to determine how much
stock shall be issued. The whole, however
TO be done provided by Act No. 267 Of the
General Assembly OF the State Of Louisiana
for the year 1914.
Article IN.-The corporate powers OF this
company shall be vested in and exercised by
a board of directors, which shall be composed
OF four a. stockholders OF this company.
Said board OF directors shall be elected an
nually by the stockholders on the first Mon
day OF March in each and every year. which
annual meeting OF stockholders shall be held
At the office Of the company at its dOmicile,
OF which meeting notice shall be given by at
lease five days continuous publication imme.
diately preceding such election in a daily
newspaper published at New Orleans. Louis
lana, or by IT least ten uays' written notice
to each stakeholder at his address as given
to the secretary of the company The first
election hereunder shall be held on the first
Monday of March. 1915. until which time the
following persons shall be and constitute the
Board OF Directors of this company, Charles
{. Pardue, Sherman 2. Pardue, Oscar G.
Geren and Charles A. Pardue ANY vacancy
occurring in the board of directors during its
term OF Office shall be filled by election by
the remaining members of the board Three
90 members of the board shall constitute a
quorum for the transaction Of business, and
their decisions shall be valid corporate acts.
At each annual meeting of the board OF d-
rectOrS, held the first Monday of March,
in the year 1916 and annually thereafter, the
said board shall elect from among its num-
Der a president, vice-president, secretary.
a treasurer, and such other officers as may
be necessary, and said officers shall hold office
Tor one year, or until their successors are
elected. Until the first election, the follow
ing are declared to be the officers of this
company, viz: Charles C. Pardue, president;
Sherman p. Pardue, ice-president: Oscar p.
Geren, secretary; Charles A. Pardue. treas
urer; provided, that the board of directors
shall have the power to discharge any all
of these officers at any meeting of the board
after due notice and motion TO that effect
shall have been mailed to each and every
member of the board at least five days prior
to the date of such vote for discharge. At
all elections and stockholders meetings each
share of stock shall be entitled to one vote
to be cast by the stakeholder himself by
proxy appointed by him in writing. In
the event of the absence of any director
from the domicile of the corporation such
director may appoint, by written proxy, any
other director to act and vote for him at all
meetings of the board of directors.
The duties of the various officers shall be
fixed and determined by appropriate bylaws
TO be adopted by the board of directors, and
the board shall fix the salaries and compen-
sations of all officers, agents, and employees
whomsOever.
The Office of secreatry and treasurer may,
at the option of the board of directors. be
held by the same person.
Any failure, from any cause whatsoever,
to elect directors on the date named for that
purpose shall not dissolve this corporation,
but the directors then in office, as we'll as
the officers of this company, shall hold over
until their successors chosen. In such
event. the president shall cause another cleo
ton to be held in thirty 800 days, and shall
give notice thereof above provided
During the absence of the president, the
vice-president shall act and preside.
At every election and meeting each stock
holder shall be entitled to one vote for each
share of stock standing in his name. The
election of directors shall be by ballot, and
majority in amount of votes cast, shall
elect the person or persons for whom they
have been cast.
Article VT shall be lawful for the stock
holders of this corporation at a general meet
ing convened for that purpose, to make any
modi hcations, additions changes in this
act of Incorporation, or to dissolve it, with the
assent of three-fourths of the stock repre-
scented at such meeting. Notice of such meet
hereof for the election of directors.
Article Vino stakeholder of this corpOr-
alton shall ever be held liable or responsible
for the contracts or faults thereof in any fur
ther sum than the unpaid balance due the
company the shares of stock subscribed for
or owned by him, nor shall any informality
in organization have the effect of rendering
this charter null, or of exposing a stock
holder to any liability beyond the unpaid
balance, if any, of his stock.
Article NII.-ln case of dissolution ter
mination of this corporation, either by limi-
tation of its charter from any other cause,
the liquidation of its affairs shall be conduct