The herald., 1916-01-27
CT AR TER
LGIERS SCRAP MATERIAL Co
INC"

OF "ALGIERS SCRAP MATERIAL co, !
United States Of America, State Of Louisiana, |
City Of New Orleans.
Be II known that on this fourth day OF |
the month Of January, IN the year one thou
sand nine hundred and sixteen, before me, |
Felix !. Dreytous, a notary public duly com |
mIs>l0nci and sworn M and tor the parish
of Orleans, city OF New Orleans, therein re-
siding, personally appeared: The persons
whose names are hCreuuto subscribed, who
declared that. availIug themselves Of the pro
visions OF the laws OF this state, relative 10
the organization Of corporations, and more
particularly Act 2o7 OF the General Assembly
of this State, approved July o, 1914. they have
Coveuanted and agreed, and do, by these
presents. covenant and agree bind form and
constitute themselves as well as such per
son, who may hereafter Join or become asso-
ciated with them into corporation and body
polite i'm law for the objects and purposes
and under the agreements and Stlpulauono
following, to-w1t:
Article The name and style OF this cor
poration shall he "Algiers Scrap Material
/ Co.. Inc" and under that name 1t shall have
! and enjoy all the rights, advantages and
privileges granted by law TO corporations,
! II shall exist for the period OF ninety
years from this day: II shall have power 70
/ contract. sue and be sued in its corporate
name. to make and use corporate seal, and
the same 10 break or alter At pleasure; IL
/ hold. receive. purchase, convey, mortgage, by
,
personal: 10 issue bonds notes and other OBJ
/ legations or negotiable instruments; 10 nave
/ and employ such managers, directors, oihcerS,
| agents and other employees the interest
| and convenience Of said corporation may
| require or demand; TO make and establish
! such bylaws rules and regulations tor the
! corporate management and control Of the at
! fairs OF the corporation as may be deemed
! necessary or expedient
| Article 1.-THE domicile OF said corpora
| ton shall be established in the city Of New
! Orleans, State of Louisiana, and all eta.
tons and other legal process shall be served
| on the president, in his absence on the VICE
| president and in the absence OF both, on the
| Secretary-treasurer.
| Article III-The objects and purposes for
which this corporation Is formed, and the ma
| ture of the business 70 he carried OF by H.
| are hereby declared 10 be: to deal in, cOnslgn
| and receive on consignment, scrap iron, met
| ais and paper stock of every description, and
| generally to engage in and carry on any other
enterprise or business which may be ger
name or incidental to, or connected with, the
purposes hereinabove set forth or contem-
plated BY this charter.
| Article IV.-The capital stock of this cor
poratior is fixed at the sum OF hive thousand
! CS5 OOOOO)' dollars, divided into fifty shares
| of the par value Of one hundred dollars each.
All shares of stock shall be full paid and
non assessable. No transfer OF stock shall
be binding upon the corporation unless made
upon its books, and all certificates OF stock
shall be signed by such officers as may b"
designated by the board of directors.
This corporation shall have the right to
increase its capital stock to the further sum
/, / of twenty-five thousand dollars, to be dl-
vded also into shares Of one hundred (SlOO)
dollars, each, provided said increase in the
capital stock shall have been authorized by
the stockholders at a meeting TO be held pur'
suant to the provisions Of Article V, OF this
Article V.-All the corporate powers of the
company shall be vested in, and the man
, agement and control OF its affairs, shall DC
exercised by, board of directors composed
+ of three stockholders, the membership Of
which board may be increased to five.
majority of the directors shall constitute
. quorum for the transaction OF all business
r The directors shall be elected annually by
, ballot, by the stockholders, on the SECOND
Tuesday in January, in each year. Each stock
holder shall be entitled in person or by
proxy, to vote for every snare owned 10y
4 him and all elections shall be held unde
, such rules and regulations as may be deter
. mined by the board of directors, after nj
teen DAYS notice by mail of such election
/ shall have been sent to each stockholder a
: his last known address. The directors thu
elected shall continue in office for one year
or until their successors shall have been dull,
q elected and qualified No failure to elect shall
I be regarded as a forfeiture OF this charter
: Any vacancy occurring on said board shal
. be filled by the remaining directors for tn
A unexpired term; the said board shall like
= wise elect the additional members in cas-
e they should determine to increase the mum
: her of said board. Said board of director
:, | shall at its first meeting after its election
= | nominate out OF its number, president,
: vice pre- sident and secretary-treasurer. Sal
: board shall have the right to consolidate an
= two of the said Offices into one, as also III
4 right to appoint and dismiss such clerks
= managers and other employees of the corpora
I ton, as conditions may justify or the busl
: ness of the corporation may require. IN
:, tenure of office of all the employees of tn
: | corporation shall be during the pleasure G
, the board of directors. Any OF the direC
, tors shall have the right to appoint by writ
r ten instrument, another director or stocE
;. holder to act as his proxy and IN his stea
: | at any and all meetings Of the board OF d
rectors.~ . &,
Article Vino stockholders shall ever
D. held liable or responsible for the CONTRACTS
lie faults or debts of said corporation, nor sha
s any mere nformality in its organization nav
y the effect of rendering this charter null,
J. of exposing a stakeholder to any llabilt
,e bevond the unpaid balance due on the share
owned by him.
a Article VII-This act Of incorporation ma
d be changed, modified altered, or this CO
a poration may be dissolved, with the assent
n the stockholders owning two-thlrds OF all u
k stock of the corporation at general meetr
le convened for that purpose, and after at lea
ST ten DAYS written notice OF this meeting NJ
a. been given through mail addressed to eaS
N Shareholder at his last known place OF res
dence. In case of dissolution by the expir
Id ton of this charter or otherwise, the stoc
or holders shall elect three llquldators 1ro
m among their number, to liquldate ana se'I
cr the business and affairs of the company.
or case of death or disability of any one OF sa
m commissioners or liquidators, the survivor
I'M | or the remaining liquidators, shall appol
Nv successor TO him. The said liquidators sha
have full power to settle said esmpanys