The herald. [volume] (New Orleans, La.) 1905-1953, 1916-10-05

pleasure, to hold, receive, purchase, hypothe-
cate convey, sell, lease, or pledge, rea! and
personal property; 10 issue negotiable bonds
and notes, other evidence OF debt; to name
and appoint such managers, agents, directors
and officers a. is business interests and con-
vrnIcuCCs NAV require: and 20 make and CS-
tabllsh, As well as to alter and amend from
time to time. such bylaws, rules and regula-
tons for the proper government OF the al
iairS OF TINS corporation as may be necessary
Article 1.-THE domicjle Of This corpora
ton shall he in the city Of New Orleans,
State OF Louisiana, provided that with the
written consent OF all directors. valid meet
ings of directors may be held without this
State, or elsewhere within this State. and
all citations and other legal process shall be
served upon the president Of this corporation,
and IN the event OF his absence, upon the
secretary thereof, and, III the absence Of
both OF said officers, upon the vice-pTesident
OF this corporation.
Article lII.-The objects and purposes for
which this corporation l. organized and the
nature OF the business TO be carried on by it,
are hereby declared TO be:
To conduct a general drayagc. hauling,
transfer, carriage and material carrying bust
ness, own, have, purchase, lease and hire
carts, wagons, draws, floats, automobiles, au-
')mobllc trucks, ard other vehicles; also to
own, have, purchase. lease and hire horses,
mules and other draught animals, engines,
cars and all harness and further necessary
equipment 10 operate all of the above and
such other requisite accessories; 20 lease,
sell, hire and farm ont all such herein men
toned teams, equipment and accessories; 10
contract Tor and generally to do and perform
hauling and delivery OF goods, Chattels,
freight, baggage, building material. wreck.
age, earth. brickbats, filling for lots, prop
erty, canals, and generally TO haul and de
liver materials and articles OF any, all and
every kind and description whatsoever; to
own and operate a harness repair and gen
eral blacksmith shop, and generally 10 do
anything germanc, necessary, touching, con
ccrning or incidental TO the conduct of the
business and purposes herein contemplated
and such a, i generally engaged IN by
corporation OF tins nature and character.
Article IN.-The capital stock OF this cor
pDratIOn j. hereby fixed at the sum Of ten
thousand CSlO,WrOO) follars, divided into
and represented by one hundred 0OOl shares
IF stock OF the par value Of one hundred
$1,000 dollars per share. Said stock shall
be paid Tor in cash, at such time and after
such notice TO the subscribers As the board
Of directors may nix. or the same may be
or services rendered for the said corpora
ton or property or rights actually received
by said corporation. That where there
Subscri ptIons 20 the capital stock of this cor
poration OF property or good will for labor
done or services rendered for this corpora
ton, there must appear IN, or be annexed 10,
the articles of Incorporation and be read IN
connection Herewith, an accurate detailed and
itcmized description Of such property, as 10
amount, location, extent, character and state
u Improvement, together with statement Of
statement of the value placed upon any
good viii for labor done or services rem
dered, included in the capital stock. ii
the giving Of the property or good will or
for labor done or services rendered IS effect
ed in exchange for stock which transpires
subsequent to Incorporation, a similar de
SCuptlOn and appraIsement must be hled IN
the office OF the Secretary OF State, and in
rhc office Of the clerk and eX-officio recorder
Of mortgages in the parish OF its dOmiCile,
within ten days after the subscription, when
stock 50 issued shall, in the absence Of
fraud, be full-p paid stock.
The amount 10 which the capital stock may
he increased shall at no time exceed the
sum Of hundred thousand tSlOO,000O0
dollars, except as Is contained IN and pro.
vded by Section six Co. OF Act No. 2o7 OF
the General Assembly Of the State OF Lou
isiana for the year 1914
This corporation shall be a going concern,
and shall be authorized TO commence busi.
ness, when and as soon as hve thousand
dollars or fifty shares of ITS capital stock
shall have been subscribed, and twenty-five
hundred dollars or twenty-five shares OF ITS
in accordance with the requirements OF Act
No. 257 Of the General Assembly Of the
State OF Louisiana for the year 1914.
Article N.-All Of the corporate powers of
ercised by a board OF directors, 20 be COM
posed OF not more than FIVE ~ and not less
than three 60 stockholders, a majority OF
whom sitting at any time shall constitute
on the second Monday OF October beginning
in the year 1917. Each srockhOlder shall be
entitled in person or by written proxy, 20
one vote for each share the capital stock
held by him and standing in his name on
the books of the corporation, or he may send
his vote by letter, the signature OF which
must be acknowledged before notary pub
lie other officer authorized 20 take attlda-
wits The stockholders of this corporation
are herewith given and granted the right Of
cumulative voting IN the election OF officers
or directors. All elections shall be held
under such rules and regulations as may be
determined by the board of directors, after
legal notice OF such election shall have been
given to each stakeholder by mail, sent to
one of the daily newspapers published in the
English language in the city OF New Or
leans for at least fifteen 05) days pre-
ceding such election The directors thus
successors shall have been duly elected and
qualified. No failure to elect shall be
garded as a forfeiture of this charter. Any
vacancy occurring on such board of dlrec-
tors shall be filled by the remaining direC-
tors for the unexpired term, when vacancy
shall be considered to exist at any time when
the maximum number of directors provided
by this act of Incorporation are not in office
and actually serving. Said board of dl-
rectors shall, at its first meeting after its
election, elect from its members a president,
one more vice-presidents, a secretary and
treasurer, and a manager or superintendent.
1t may combine the office of secretary and
treasurer into one, and may even elect sec
retarv who need not be a stakeholder or
director. Said board OF directors shall have
the right and power To appoint and discharge
such clerks and employees of the corpora
tiOn, including the secretary who Is not a
stakeholder or director, as conditions may
justify or the business of the corporation
may require The tenure Of office of all of
the employees of this corporation shall be
during the pleasure of the board of directors.
The board Of directors may, from among its
members, appoint an executive committee,
which said committee shall consist of three
90 members, including one of the officers of
the corporation, and the board of directors
may delegate such managerial powers as IL
deems necessary to the executive committee,
which said committee shall report at each
meeting Of the board of directors. The board
of directors may name and appoint such
other committees as it may deem necessary
for the purposes OF the business Of thiS cor
poration.
Article Vino stakeholder shall ever be
held liable or responsible for the contracts,
faults, debts or duties of this corporation,
nor shall any mere informalty in its organ
izaton have the effect OF rendering this
charter null. or Of exposing its stockholders |
TO any liability beyond that every subscriber |
to the capital stock of this corporation, |
though not a holder, shall be personally LA !
bic to the creditors Of this corporation 10 an
amount equal to the unpaid balance on the |
stock, for which he has subscribed. Trans |
ferees shall not be liable unless it be shown |
that the stock was acquired with knowledge |
of the conditions which would make the sub |
scriber liable; where both subscriber and
transferee are liable, the liability shall be in |