The herald., 1916-11-30

Article VII.-Untn the election TO be held
on the second Tuesday of the month Of Jan.
uary. 1917, the following stockholders shall
constitute the first board OF directors: vii.
lam =. Holmes, Tallulah, louisiana; Thomas
J. Clay, Nhitecastle p. O., La; Donald Des-
pain, Grunewald Hotel. New Orleans, La
John W. Smith, Ward Bldg, Shreveport,
Louisiana; c. Y. Smith, Grunewald Hotel,
Article VIiI-The capital stock of this
corporation, after having been transferred
from this corporation to a subscriber thereof,
shall not be sold or transferred or offered
out hrst having offered such stock TO this
corporation and 10 the stockholders of this
corporation at the then market or book value
hereof, which market price shall be ascer-
tanned by the then prevailing market price
u such stock, # such price prevails at such
lime, when If not, the book value Of such
stock shall be ascertained either by an agree
nent 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 TO choose a 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,
he administrator, executor or representative
# his estate 10 Immediately tender such
stock 10 this corporation and the stockhold-
ers thereof On the same basis. Such offer
and tender TO be made by the holder or hold
ers OF such stock 10 this corporation and the
stockholders thereof by the mailing Of a 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 GOD days from the date OF the mail.
ing Of such registered letters, when il not
availed Of, such holder or holders to be re-
sees fit. In the event of this corporation
not availing itself Of such offer or tender
such stock offered to be equally pro rated
between the stockholders of this corpora.
ton should they so desire to 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 egotiable.
Article IX-The subscribers hereto have
written opposite their respective names, the
amount of stock in this corporation sub
scribed by each of them.
Thus done and passed, in my Office at the
city of New Orleans, La, on the day, month
and year herenabove first written, in the
presence of John X. Perez and Edward Kay,
competent witnesses, who have hereunto
bearers and me, notary, after due reading Of
the whole.
Signed; J.. W: Smith. Thos. J. Clay. c. Y.
Smith, Donald Despair VIM. S; Holmes.
(SigneD FRANK wM. HART,
/, 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
Mutual Resource Development Company of
Louisiana, Inc, was this day duly recorded
in my Office, in book l20l, folio 500
New Orleans, October %, 1910
(Signed EMILE J. LEONARD, by. X.
l, the undersigned Frank VIM. Hart, a
notary public for the parish of Orleans, State
of Louisiana, hereby certify that the above
and foregoing is a true and correct copy
OF the act of Incorporation Of the Mutual Re.
source Development Company of Louisiana,
Inc, passed before me on October n, 1916,
except that there is omitted therefrom the
stock subscription list.
In faith whereof, / have hereunto set my
hand and affixed my seal of Office at New
La, this 3lst day of October, 1916
FRANK VIM. HART, Not. Pub.
nov 2 10 q 30 dec