The herald. [volume] (New Orleans, La.) 1905-1953, 1916-11-02

beyond the unpaid balance due on the shares
Of stock owned by them, and in accordance
with the further provisions as provided by
Act No. 2o7 of the General Assembly Of the
State of louisiana for the year 1914,
Article Nl-This act Of Incorporation may
be changed, modified altered, or this cor
poration may be dissolved with the assent
OF the stockholders owning two-thirds Of the
ISSUED stock of this corporation, at a meeting
of the stockholders convened for that pur-
pose, and after legal and proper notice shall
have been given 10 each Of said stockhold-
ers, except whenever, in the Judgment of the
| board OF directors, it shall be deemed advisa-
| BILE and for the benefit of this corporation,
| that it should be dissolved. the board, within
ten days after the adoption of a resolution
to that effect, by a majority OF the whole
board at a meeting called for that purpose,
OF which meeting each director shall have
received at least three days notice shall
cause notice Of the adoption Of such resolu-
tion to be mailed to each stakeholder, to-
stockholders, TO be held at the Office of the
corporation, 10 take action upon the resolu-
ton so adopted by the board of directors.
In case OF the dissolution of this corporation
by the expiration of its charter, otherwise,
the stockholders shall elect three liquidators
from among their number, who shall have
full power and authority to lquidate and
settle the business and affairs Of the COM
pany; IN case of death or inability Of any
Of said liquidators, the survivor or survivors
shall appoint successor or successors to
Article VII.-Until the election to be held
on the second Tuesday of the month Of Jan
nary, 1917, the following stockholders shall
constitute the first board of directors: Will
liam s. Holmes, Tallulah, louisiana; Thomas
J. Clay, Wh,ecastle p. o., La; Donald Des-
pain, Grunewald Hotel, New Orleans, La;
Louisiana; {. V Smith, Grunewald Hotel,
New Orleans, La.
Article VIII.-The capital stock of this
corporation, after having been transferred
fv.Tan a..
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 this
corporation at the then market book value
thereof, which market price shall be ascer-
tanned by the then prevailing market price
OF such stock, if such price prevails at such
time, when IT not the book value of such
stock shall be ascertained either by agree
ment Of the parties, or by two competent and
experienced business men, 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 50 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 10 Immediately tender such
stock to this corporation and the stoekhold-
erS thereof the same basis. Such offer.
and tender TO be made by the holder or hold
cTs OF AuCn STOCK 10 inns corporation ana the
stockholders thereof by the mailing Of a reg
iStered letter containing such offer tender
addressed to the last known addresses Of this
corporation and said stockholders. Such offer
thirty 800 days from the date Of the mail
ing of such registered letters, when il not
availed of, such holder or holders to be re-
leased 10 make a sale or transfer as he
sees fit. In the event of this corporation
not availng itself of such offer or tender
such stock so offered to be equally pro rated
between the stockholders of this corpora
ton should they desire 10 avail them
selves thereof, when if they do not such stock
might be purchased by such stockholders 50
desiring to acquire same. To such extent all
stock as issued by this corporation shall be
Article IX-rhe subscribers hereto have
written opposite their respective names, the
amount of stock in this corporation sub
sorbed 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 X. Perez and Edward Kay,
signed these presents, together with said ap-
bearers and me, notary, after due reading Of
the whole.
Signed: J. W. Smith, Thos. ]. Clay, c. Y.
Witnesses: John K. Perez, Edward Kay.
tsigne0 FRANK WM. HART,
I, 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 1901, folio 396.
New Orleans, October %, 1916.
(Signed) EMILE J. LEONARD, by p.
/, the undersigned Frank Vim. Hart, a
notary public for the parish of Orleans, State
Of Louisiana, hereby certify that the above
and foregoing is true and correct copy
Of the act OF Incorporation Of the Mutual Re-
source Development Company Of Louisiana,
Inc, passed before me on October y, 1916,
except that there IS omitted theTefrOm the
stock subscription list.
In faith whereof, / have hereunto set my
hand and affixed my seal Of office at New
Orleans, La, this 3lst day Of October 1916.
FRANK VIM. HART, Not. Pub.
nov 2 10 q 90 dec