The herald. [volume] (New Orleans, La.) 1905-1953, 1915-05-13

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ana. and all citations and other legal
process shall hc served ON the President.
in his absence. on the Vice Pres idtut
aud in the ahs'nC" of both ON the Sec
reiary-TreaSurer.
Article IiI.-The objects and PURPOSES
for which the corporation is organized
and the natUr" of the business To- b,
carried on 10y II are hereby declared Gee
be. To buy, sell ana deal i'm. M retail
and wholesale. ana couSi-u and receive
| on cons guWCut. Clotnlng, hats, caps,
wooden and linen goods Of every
description. habcrdaSucry. gents ana
| ladies' furnishings. and an or any other
articles of wear. ana generally To- engage
| IN and carry on any other enterprise or
business which may hr ",rm3uD or
incidental To, or connected with, the
purposes hcrciuahoNe set forth or con-
templated ny TINS charter.
! Article lN-The capital stock Of this
corporation Is fixed at the sum of bur
J hundred Thousand ,Sl00DWC1D dollars.
divided into one thousand shares ut the
par valu" of one hundred dollars each.
(which have been entirely subscribed and
paid for in cash 10y the appraTcrS. as
| hereinafter more fully shown. All
shares of stock shall he fuU-paid and
| non-aSStsSahlc. No transfer of stock
| shall be binding upon the corporation
| unless made upon its hooks. ana all Ger
| titicates of stock shall %" SIGNED by such
| officers as may bc DESIGNATED by tn,
board of directors. This corporation
shall have the right to increase its
| capital stock to the further sum OF one
| hundred thousand tSluU. GOO. uuJ dollars.
to he divided also into shares of one
| hundred lSlOol dollars each. provided
| said increase in the capital stock shall
| have been authorized by the stock
| holders at meetin" To be held pursuant
To tie provisions of Article V. of this
charter. No stakeholder shall sell any
share of stock To any person not already
a stakeholder. unless ne shall have
offered SuCn share or shares to said cor
ntaTH s4f ian 30 nj
tabliShed 10y the last inventory. and.
when the offer is made to the corpora
ton, IL shall he its duty to advise the
remaining Stockholders of said offer
that they may have an opportunity To
purchase said stock. which option. how
ever. they must exercise within five DAYS
from receipt of notice by the COMPANY
All certificates of stock shall have
written or printed across their face. the
words: These shares are asSi-nable
only according to the Charter and BY
Laws of this Company"
Article V.-AlI the corporate powers
of the Company shall he vested in. and
the management and control of its at
fairs. shall he exercised by. a board Of
directors composed of three StoCkhOld-
erS. \ majority of the directors shall
constitute quorum for the transaC-
ton OF all business. The directors shall
be elected annually. by ballot by the
stockholders. on the first Monday i'm
April in each year. Each stakeholder
shall he entitled. in person or by proxy.
TO vote for every share owned by him
ana all elections shall he held under
such rules and regulations as may be
determined by the board of directors
after fifteen days notice Of such cleo
ton shall have been sent to each stock
holder at his last known address The
directors thus elected shall continue i'm
office for one year. or until their sue
ceSSorS shall have been duly elected and
qualified. No failure to elect shall be
a nf sh rta or
Any vacancy occurrin" on said board
shall be filled by the remaining directors
for the uneNpired term. Said board of
directors shall at its first meeting after
it's election. nominate out of its num-
Der. President, a NiCe-PreSident and
Secretary-Treasurer. Said board shall
have the right to appoint and dismiss
such clerks. managers, and other en-
ployeS of the corporation. as conditions
may justify or the business of the cor
poration may require. The tenure of
office of all the employees of the CORPORA
tion shall be during the pleasure of the
board of directors. Any of the directors
shall have the right to appoint, by writ
ten instrument, another director or
stakeholder to act as his proxy and in
his stead at any and all meetings of
the board of directors.
Article Vino stakeholder shall ever
be held liable or responsible for the con-
tracts. faults or debts of said corpora
ton nor shall any mere informally i'm
its organization have the effect of rem
derinS this charter null. or of exposing
a stakeholder to any liability beyond the
unpaid balance due on the shares owned
by him.
Article VII.-This act of incorporation
may be changed, modified or altered or
this corporation may be dissolved, with
the assent of the stockholders owning
twO-thirdS of all the stock of the cor
poration, at a general meeting convened
for that purpose, and after at least ten
days written notice of this meeting has
been given through mail, addressed to |
each shareholder at his last konwn place |
of residence. In case of dissolution by |
the expiration of this charter. or other
wise. the stockholders shall elect three |
hquidatorS from among their number to |
liquidate and settle the business and af-
fairs of the company. In case of death |
or disability of any one of said commits
sioners or liQuidators. the survivors. or |
the remaining liquidators. shall appoint |
a successor to him. The said liquidators
shall have full power to settle said COM I
panyS affairs, collect outstanding debts, |
sell and convey property. pay its debts. |
and divide the remaining money and |
property among the stockholders They
shall also have power to meet and act |
under the bylaws of the corporation and |
under regulations to be made by ma
jority of said liquidators; to fix the price /
and prescribe the terms and conditions 1
of sale of said property and the manner /
in which the sale shall be made, and !
take notes and bonds, secured by mort /
gage or otherwise. for part of the pur- /
chase price for all or any part of said |
property; provided. however. that the |
rights herein conferred upon the liqui-
datOrs may be modified. changed or de-
MED by a majority of the shares of the |
capital stock of the corporation The |
said liquidators shall have authority to
sue for and recover the debts and prop
erty in the name of the corporation. and
may be sued by the same name, and they :,
shall be liable in solido to any creditor
or stakeholder for the monies and prop
erty of the corporation which shall come
to their hands or possession as liquida-
tors and for the proper application
and distribution thereof.
Article VIII.-Mrs. Rose LaZard.
widow of the late Mayer Israel, and
whose pOstoffice address is 1926 st.
Charles Avenue, New Orleans, Louisiana.
has subscribed to 500 shares: Mayer
Israel, Jr., whose postoffice is also 6226
st. Charles Avenue, New Orleans. Lou
isiana. has subscribed to $50 shares;
Leopold l.. LaZard. whose postoffice adj
dress is 1925 Bordeaux Street New Or
leans, Louisiana, has subscribed to $50
shares; Mrs. Blanche Israel the wife of
Jacques A. Moss, whose postoffice adj
dress is 1925 st. Charles Avenue, New
Orleans. Louisiana, has subscribed to so
and Mrs. Irma Israel, the wife
of Benjamin A. Moss, whose postoffice
is Milan and Dryades Streets.
New Orleans, Louisiana, has also sub
scribed to SO shares.