The herald. [volume] (New Orleans, La.) 1905-1953, 1916-12-07

Article VII-Until the election to be held
on the second Tuesday Of the month OF an
uary, 1917. the following stockholders shall
constitute the first board of directors: Will
liam 8. Holmes Tallulah, louisiana; Thomas
!. Clay. WhiteCastle p. O.. La; Donald Des-
pain, Grunewald Hotel. New, Orleans, La;
Louisiana; {. Y. Smith, Grunewald Hotel,
Article VIiI'IThe capital stock of this
corporation, after having been transferred
from this corporation TO a subscriber thereof,
shall not be sold or transferred or offered
for sale or transfer by such subscriber, with
out first having offered such stock TO this
corporation and to the stockholders OF TINS
corporation al the then market or book value
thereof, which market price shall be ascer-
tanned by the then prevailing market price
Of such stock, if such a price prevails at such
time, when if not, the book value OF such
stock shall be ascertained either by an agree.
ment OF the parties, or by two competent and
experienced business men, one to be chosen
by the subscriber and the other by this cor
poratIOn or the stockholders or StOckholder,
prospective purchaser, when if said two par
ties cannot agree upon book value, such
two parties so chosen 10 choose third
party, when the majority opinion shall pre-
vail. In the event OF the demise OF a holder
or holders of the stock of this corporation,
the administrator, executor or representative
Of his estate TO Immediately tender such
stock 10 this corporation and the stockhold-
ers thereof on the same basis. Such otter
and tender TO be made by the holder or hold
ers of such stock TO this corporation and the
stockholders thereof by the mailing of reg
| istered letter containing such offer or tender
addressed to the last known addresses of this
corporation and said stockholders. Such offer
| or tender TO remain open for a period OF
| thirty (5O) DAYS from the date OF the mail
! ing of such registered letters, when II not
/ availed OF, such holder or holders TO be re-
| leased TO make sale OF transfer as he
| sees fit. In the event OF this corporation
| not availing itself of such offer tender
such stock so offered to be equally pro rated
between the stockholders OF this corpora
| ton should they so desire 10 avail them
selves thereof, when if they do not such stock
might be purchased by such stockholders SO
| desiring to acquire same. To such extent all
stock as issued by this corporation shall be
non negotiable.
written opposite their respective names, the
amount of stock in this corporation sub
scrbed by each of them.
Thus done and passed, in my office at the
| city of New Orleans, La, on the day, month
and year hereinabove first written, in the
presence of John r. Perez and Edward Kay
competent witnesses, who have hereuntC
signed these presents, together with said ap
bearers and me, notary after due reading o.
Signed ]. w. Smith. Thos ]. Clay, c. Y
Smith, Donald Despair, VIM. ); Holmes
Witnesses: John r Perez; Edward Nay.
Notary Public
I, the undersigned, recorder of mortgages
in and for the parish OF Orleans, state o
Louisiana. do hereby certify that. the aboy'
and foregoing act of Incorporation OF tn
Mutual Resource Development Company o
louisiana Inc, was this day duly recorde'
in my Office, in book l2Ol, folio 396.
New Orleans, October %, 1910.
/. the undersigned Frank VIM. Hart,
notary public for the parish of Orleans, Stat
Of louisiana, hereby certify that the abov
: and foregoing is 4 true and correct cop
, Of the act of incorporation OF the Mutual Re
source Development Company of Louisiana
Inc, passed before me on October p, l9lt
, except that there is omitted therefrom tn
/, stock subscription list.
In faith whseof. l have hereunto set m
hand and affixed my seal of office at NeN
Orleans, La, this 3lst day of October, l9lt
FRANK VIM. HART, Not. Pub.
| nov 9 10 % 30 dec