The herald. [volume] (New Orleans, La.) 1905-1953, 1916-12-21

various States territories and countre:
through which said corporations main Of
connecting lines OF railway may run, and
generally to have and exercise all such in
cidental powers and privileges relate Il
the objects herenbefore set forth.
Article IN.-The capital stock OF this cor
pora;ion is hereby fixed at the sum- OF three
hundred thousand dollars (Sj0O,O0OO), divided
4 into and represented by three thousand
shares Of the par value OF one hundred dol
/ lars $4,000 each.
been subscribed for in full and certificates
Of full paid and non assrssable stock shall
be issued to said subscribers IN consideration
! Of the conveyance and transfer TO this cor
| chses. properties and other rights more
fully described and appraised by the direc'
tors named in this act OF, Incorporation, IN
! the schedule hereto annexed, made part here
| Of and marked A"
said property having been delivered con.
| temporaneouSly herewith and the said cap,
| ital stock having been fully subscribed and
! paid for, the corporation shall At once DE-
| come a going concern.
! Article N.-AN the corporate powers Of this
| corporation shall be vested IN and exercised
! Jy a Board OF Directors composed OF eleven
! stockholders to be elected annually on the
/ nlrd tuesday in January in each year at
| d general stockholders meeting. \ majority
| Of said directors shall constitute a quorum.
| All such elections shall be by ballot and
shall be held and conducted at the ONCE OF
| the corporation under such regulations as
| may be established by the Board OF Direc-
tors.
Notice Of such meeting and OF all other
s.uckhOldCr, meetings shall be gwen III the
manner prescribed by law and, when not 50
prescribed. then written notice Of such meet
Irgs shall be deposited, at least fifteen days
Iostgfnce in the city OF New Orleans, post
age prepaid. addressed to each stockholdcr
Il his last known residence OF place OF bus
mess.
II 70
meetings. every stakeholder shall be enti-
lied % one vote for each share OF stock
standing in his name on the books OF the
corporation. To be cast by him IN person or
by ms written proxy; and the majority OF
the votes cast shall elect Any vacancy &C.
curing among the directors OF SAID Corpo-
ration by death, resignation Or otherwise
shall be filled by election for The uneNpIred
term by the remaining directors.
4 failure 70 elect directors on the date
specified shall not dissolve the corporation
nor impair its corporate existence or man
agement, but the directors then III Office
shall have been duly elected and shall have
qualified.
The board Of directors at its first meeting
shall elect from It's number a president and
one or more vICe-preSideuts. Ii more than
one vice-president be elected, such add
tional viCe.presideuts need not be members
Of said board. II shall also elect treas
urer and a secretary or one person to act as
may 70 may not be a member OF the board.
The board of directors from time to time
may name and appoint all such officers and
agents as it may deem necessary for the
purposes and business Of said corporation.
The said board shall have the power to fix
and define the duties OF every officer and
employee, and all officers and employees
shall hold office and employment at the pleas
ure OF said board.
The board may make and establish as well
as alter and amend, all bylaws, rules and
regulations necessary and proper in its Judg-
meut for the conduct and management of the
business and affairs Of said corporation. The
board OF directors shall have full power and
authority to borrow money, to execute mort
cages and TO create liens; to issue bonds,
notes and other obligations, and TO secure
same by mortgage pledge and otherwise;
and generally to do any and all things rea-
sonabe, convenient and necessary for the
proper carrying on OF the business and at
fairs of said corporation: and to clothe an
executive committee with full corporate pow
ers during the interim between meetings of
the board
The board of directors may issue full-paid
shares of stock for cash or in payment for
labor done and performed for said corpora
ton property actually received by said
corporation upon. complying with the for
maities required by law.
The board of directors shall have power
and authority to name and appoint transfer
agents in financial centers to make trans
fers of the stock OF said corporation under
such rules and regulations as the said board
may establish and prescribe.
Stock transferred on the books of such
transfer agents shall be deemed transferred
on the books OF the corporation.
Article NI.-Whenever this corporation
shall be dissolved, either by limitation or
from any other cause, its affairs shall be
liquidated by three commissioners to be ap- |
pointed from among the stockholders at a |
general meeting of the stockholders convened
for such purpose; a majority in amount of
CaDItal of
sented at said meeting shall be requisite TO
elect. Said commissioners shall remain in
othce until the affairs OF said corporation |
shall have been fully iquidated. In case |
of the death of one or more of the Equ- |
datorS the vacancy or vacancies shall be |
hlled by election by the surviving commits |
sIoners, or liquidators. Said commissioners
shall have all powers conferred upon them |
by law or by the stockholders at such meet |
ing If not inconsistent with law
Article Nlll.-This act of Incorporation may |
be changed, modified amended or the cap |
ltal stock of the corporation may be increased |
or decreased, or said corporation may be dis |
solved IN the manner now or hereafter pro- |
vided by law. |
Article VIII-No stakeholder shall ever
be liable for the contracts or faults of said |
corporation in any further sum than the I'M |
paid balance due the corporation on the |
shares of stock owned by him, nor shall any |
effect OF rendering this charter null or of |
exposing a stakeholder to any liability be- |
yond the unpaid amount, if any, remaining
Article IX.-The following shall constitute
the first board of directors of this corpora
ton: c. T. Allgeyer, New Orleans, La; Lee |
Benoist New Orleans, La; Thomas Greene
Bush, New Orleans, La; H. Generes Dufour,
New Orleans, La; c. P. Ellis, New Orleans,
La; II. d. Emerson, New Orleans, La:
Frank b. Hayne, New Orleans, La; Bernard
NMcCioskey, New Orleans, La; Hugh Nc.
Closkey, New Orleans, La; Hugh E. Vincent.
New Orleans, La; Walter Weiss New Or.
leans La, and II. d. Emerson shall be pres
ident, Thomas Greene Bush, vice-president.
Lee BenOist. vice-president. George Janvier'
secretary and Bernard McCloskey, treasurer
. The said board of directors shall hold of. |
nee until the third Tuesday in January, 1918,
or until their successors shall have been
duly elected and shall have qualified
The subscribers to the capital stock of
dresses are:
{. +. Allgeyer, New Orleans, La, one CD
snare; Lee Renoist, New Orleans, La, One
!) share; Thomas Greene Bush New Or
leans, La, one Cd share; II. Generes Du.
four, New Orleans, La, one ~ share; c. P.
r Ems rs New Orleans. La, one (D share; II.
D. Emerson, New Orleans, La, one "a share:
Frank B. Hayne, New Orleans. La, one Cj
a. Ia, one % share; Hugh McCloskey, New
Orleans, La, one ID share; Hugh f. Vim.
cent. New Orleans, La one IN share. Wsi.
Yer Weiss, New Orleans, La, one IN share.
Lee benoist, trustee, New Orleans, two thou.
sand, nine hundred and eighty-nine (2oS9l
shares. e' "S N%'oO
Thus done and passed at my Office in N.
eiy OF New Orleans on the day, month and
year wear hereln hrst above written in the pres