The herald. [volume] (New Orleans, La.) 1905-1953, 1915-06-17

mon stock. Said stock shall be paid for ir
| cash, at such time in such amounts and after
/ such notice to the subscribers as may be-
! fixed by the board of directors, or the same
! may be issued at not less than par for ser
vices rendered to or property actually re-
/ Ceived by the corporation.
| This corporation shall become a going con,
| Germ and shall be authorized to do business,
! as soon as twelve thousand dollars (Sl2.O0OOO
| Of its capital stock shall have been subscribed
| and paid for; said stock shall he fully paid al
I the time OF its issuance and thereafter non.
/ aSsesSable.
The amount to which the capital stock OF
/ this corporation may be increased from time
/ to time shall Al no time exceed the sum q.
I fifty thousand dollars (S51O00OW in accord.
ance with the provision Of the law pertaining
! thereto.
| Article V.-An Of the corporate powers OF
/ this corporation shall be vested in and exer.
/ cised by a board Of directors, TO he composed
/ Of five stockholders, majority Of whom. at
, any time, shall constitute a quorum. Said
! directors shall be elected annually by the
stockholders on the first Monday in April in
! each year, except the first board Of directors
! appointed in this charter, who shall hold their
! Offices until the first Monday in April, 1916
| or until their successors shall have been
elected and qualified.
All such elections shall be held by ballot
and conducted at the office Of said corpora.
| ton, under the supervision of three commits
sioners, TO be appointed by the board of di.
rectors.
Notice Of such election shall be given by
| the secretary OF the company by written
! notice thereof delivered personally or by de-
posting the same in the postoftice, properly
addressed, to each stakeholder, at least fifteen
| G5l days preceding such meeting
At all such elections and at all corporate
meetings every stakeholder shall be entitled
10 one vote for each share Of stock standing
| in his name on the books Of the corporation,
to be cast in person or by his written proxy,
and a majority OF the votes cast shall elect
Any vacancy occurring among the directors
by death, resignation or otherwise shall be
filled by election Tor the remainder OF the
term by the remaining directors.
A failure to elect directors on the date above
specified shall not dissolve this corporation
nor impair its corporate management, but
the directors then IN Office shall remain in
! office until their successors are elected and
qualified.
The board of directors shall elect from their
own number president and a vICe-president.
| They shall also elect secretary and treas
urer or one person who shall be both, either
OF whom may may not be members of the
| board. They shall have power and authority,
from time to time, to name and appoint all
such officers, agents and other employees as
may be deemed necessary for the purposes and
business of the corporation; they shall have
power to fix their compensation and define the
duties OF every officer and employee, and all
the officers and employees shall hold office
and employment at the pleasure of the board.
The board may make and establish, as well
alter and amend, any and all bylaws,
T,
in its Judgment, for the conduct support and
management of the business and affairs OF
said corporation.
The board shall have full power and au-
thOrity to borrow money, 10 execute mort
cages and to create liens; to issue bonds,
notes and other obligations; and generally
to do all things reasonable, convenient and
necessary for the proper carrying on Of the
business of the corporation.
The board may issue full paid shares of
stock for cash in payurrrr OF labor done
or property actually received by said corpor-
alton.
Article VI.-Whenever this corporation may
be dissolved, either by limitation or from
any other cause, its affairs shall be liquidated
by three commits sioners, to be appointed from
amongst the stockholders at a general meet
ing Of the stockholders convened for such
purpose, of which meeting notice shall be
given in the manner and time provided for
stockholders meetings by Article VII of this
charter, and majority IN amount of the
capital stock of said company, represented at
such meeting. shall be requisite to elect. Said
commissioners shall remain in office until the
affairs of said corporation snail have been
fully liquidated. In case Of death of one or
more of said commissioners, the vacancy shall
be filled by the surviving commissioners.
Article VII.-This act of Incorporation may
be changed, modified or altered, ar this cor
poration may be dissolved with the assent of
the stockholders owning two-thirds of the
issued stock of the corporation, at meeting
of the stockholders convened for that purpose,
after notice shall have been given by written
notice to each stakeholder, delivered to him
personally or mailed to him by registered
letter at the postoffce address designated by
him in writing at least fifteen Q5) days prior
TO the date of meeting. Any changes proposed
or made in reference to the capital stock shall
be made in accordance with the laws OF the
state of Louisiana the subject of altering
the capital stock of corporations.
Article VIII.-No stakeholder shall ever be
held liable responsible for the contracts,
laht s. in mn
| further than the unpaid balance due the
corporation on the shares of stock owned by
him, shall any mere informality IN organ
ization have the effect. of rendering, this
charter null or of exposing a stakeholder to
any liability beyond the unpaid amount re-
manning due this stock.
Article IX.-William T. Hardie, 95S Ora
/ vier street, John NJ. Parker, $40 Union street.
| Charles E. Levy, $50 Gravier street, David
| II. March, $50 Gravier street and William A
| Duke, SIS St. Andrew street, in the city OF
New Orleans, Louisiana, have been chosen
and selected as the first board OF directors OF
| this corporations; with the said William T.
Hardie, 93S Gravier street, as president, John
NJ. Parker, $40 Union street, as vice-presldent
| Charles E. Levy, $50 Gravier street, as secre'
/ tary, and David II. March, $50 Gravier street
| as treasurer, to serve as such until the hrsi
| Monday in April, 1916, or until their success
sors shall have been elected and qualified.
Article X.-The subscribers hereto have re
| spectively written opposite their names their
corporation subscribed for by each OF them
so that this act of Incorporation may also
| serve the original subscription list 10 SAID
| corporation.
Thus done and passed at my Office in the
| city of New Orleans, in the presence Of
Messrs. Eugene Thorpe and Kirk Abbott
| competent witnesses, of lawful age, both OF
| this city, who hereunto sign their names, to-
| gether with the said appearers and me, no
| tary, on the day and date herein first above
written, after due reading of the whole.
| Original signed: Names of subscriber
| omitted. Witnesses: Eugene Thorpe, Kirk
| Abbott Al. c. Hammer, Not. Pub.
l, 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
Merchants Transportation Co., Inc, was this
day duly recorded in my Office, in book llS
| folio - New Orleans, May 10Th, 1915.
| (Signed) EMILE J. LEONARD, d. r.
| l. the undersigned notary public, do hereby
certify that the above and foregoing is a true
/ and correct copy of the original act of incor-
| poration of the Merchants Transportation Co.
| Inc, on file and on record in my Office, to-
| gether with the certificate of the deputy re-
| corder of mortgages, thereto attached, except
| that the names OF the signers and the amount
| subscribed for by each omitted.
| Witness my hand and seal this 9th day
AL. c. HAMMER, Not. Pub.
| june 10 II a july 8
CHARTER
! OF KENTUCKY DRILLING COMPANY,