The herald., 1917-01-04

generally % have and exercise all SuCh IN
c.dcutal powers and privileges a. relate 10
The objects hcreinbctore set forth.
Article IN.-The capital stock OF this cor
yoratiou Is hereby nNed al the sum OF thIes
hundred thousand dollars lSJD,U0vo), DIVIDED
in-, and represented by three thousand
-. II the par value Of one hundred dol
Tbe raDital stock OF this corporation has
been subscribed Tor IN full ana cerilHCa.Ti
i mil paid and non assessable stock shal!
Id. ...,ei 10 said subscribers IN consideration
y he conveyance and transfer 70 TINS cor
3,-gtian II the railroad, equipment iran
mise. properties and other rights more
:,,rlv described and appraised by the. direc-
r,-s named IN this act Of lncoTPordlloI' !"
I'm. schedule hereto annexed, made part mere
>; ard marked A ,,,:,-.1 con,
....r,,,raneau,ly herewith and the sara cap
.-,I s.~rk having been fully subscribed ana
.4ld for. the cooperation SHAH a. once Oe
conc a going concern. -. f This
Article N-Au the corporate powers 81 '1liI
.,r,,.~,..,n shall he vested in ana eNefCl'eu
~, H,a-f Of Directors composed OF e'eESH
.s-LI,lde-. 2, be elected annually on ule
.l.-d tuesday in January IN eaGh yea a.
%. '.,l4 directors shall constitute quorum;
Al .r.E elections shall he by ballot ana
Iii he held and conducted at the once u
,,,. ..,--r~atl9u uude- such regulations a.
| ,.'. -.rsri., shed 5y he Board Of DiTee-
\,,,ce n such meeting and OF al o'n s
stock hp.irr- meetings sAa.I oG So ~ s1
manner pEr'S'''Sn - 80 -. Of such meet
prescribed. men ~ i,,- 6fteen days
ny, slA'' ne ~ meeting, IN the
PRIOR 10 the d''e Vi y O-Ie3ns, post
pos. 1iH-e ~ 1J -! =, each stakeholder
age p:gp"''; - . - .,--e or place u bus
d. his las. N'''""
ness. ~ ,. al CORPORATE
Al all such etr1.I'HS - TIL M. eutl-
meetings. every 'l!lH.','I $40 Of stock
t.ed 20 one E'IS ~ - ,rs hooks of the
>iandihS !" ''' -, nv hlrr IN person or
.,rporauon, ID Dc ,as. - ~. majority OF
~ h., written proxy. - 49,. ,.a',r,.y oc-
.le votes cast ST. - II sad c5-p1-
.urrlus among me N'.o.., NJ otherwise
~ati9u by uG'ii'., .r.r.1,r f,- The uucNp.red
shall he allied by e.el''sn I.' '''-
.c-m Iy the remaining H''SN.''N' - H..
4 failure T. elect directors o" .. III,
specified shall n"t a',''''v ,iC - -.
nor impair rs e1Tp2rate gA'S. IN in once
shall remain IN 9tlce until their S ,H 81,
shall have been duly elected anu 7-'''' ''''S
qualified. s.. .,,,.,;,,,,
The board Of directors n ''' urss mC'.','i
shall elect from IL number ,e,.Iy'.' .S"'
| 1uc or more ElIe-P'1 ''"Sl'.s. ..,.L aIdi-
| -Dnal vlce-WtsIdrn'r Hyen 40, , +re,s
| 4 said board. Il N1ah also eject
urc- and a secretary Of one person. % AZ a.
! both secretary and treasured ei:hGI 81 W."
! may 70 may not be a meH.'cr Oh l'e '''. -
| The board u directors ii'" ''"S -
| 4'a
agents as j; may deem necessary ~. .; 80,
| purposes and business 81 sara 'oIP'' -, -
| The said board shall have the po"SI - ~
| and define the duties 81 every "IOCi a ~
r,,olayee, and all officers and employees
! Shall hold office and employment at me peas
IRE Of said board. ,,., ,..,r
| The board may make ana eStAoH'h - va va
| a. alter and amend, al! bylaws. fd'eS. anu
| regulations necessary aud proper IN rs luLs,
| merit for the conduct and management OF IN, Ine
business and affairs Of said COOPERATION. me ne
board Of directors shall have tul power anu
! authority to borrow money, 70 execute No,
| ages and to create liens; to issue Donds'
notes and other obligations. ana 70 seSuIc
same by mortgage, pledge and other"Ise'
and generally to do any ana an Ii''sS tSe
nr,ner carving on Of the business ana az
f,irs Of said corporation; and to cIothe an
executive committee with full corporate pow
ars during the interim between meetings OIL
the board.
The board Of directors may issue fuIi.pale
labor labor done and performed for said corpora
ton or property actually received by Saic
CORPORATION upon complying with the foF
maiities required by law.
The board Of directors shall have powe'
and authority to name and appoint trans I.e
agents in financial centers to make trans
fers OF the stock Of said corporation unde
such rules and regulations as the SAID ooaT'
NAV establish and prescribe. ,
Stock transferred on the books OF suct
,r,nSfer agents shall be deemed transferred
ON the books of the corporation.
Article VI.-Whenever this corp?ratoi
shall be dissolved, either by limitation o
from any other cause, its affairs snail Of
Inundated by three commissioners to be ap
pointed from among the stockholders at
general meeting of the stockholders convened
for such purpose; a majority in amount ,- o
sented at said meeting shall be requisite {
elect. Said commissioners shall remain II
office until the affairs of said corporation
shall have been fully liquidated. In cas-
| NJ the death of one or more OF the iiqul
dators the vacancy or vacancies shall D.
filled by election by the surviving coinmls
| soners, or liquidators. Said commissioner
shall have all powers conferred upon tne.
by law or by the stockholders at such meet
ing if not inconsistent with law
Article VIII.-This act of incorporation ma
be changed, modified or amended or the cap
ital stock of the corporation may be increase
: or decreased, or said corporation may be dis
! solved in the manner now or hereafter pro
yided by law.
Article VIII.-No stakeholder shall eve
be liable for the contracts or faults OF sal
n corporation in any further than the IN
: paid balance due the corporation on tn
{ shares of stock owned by him, nor shall an
o mere informality in organization have tn
z effect of rendering this charter null or c
u | exposing a stakeholder to any liability DC
{ yond the unpaid amount, If any, remalnln
: | due on his stock.
o Article IX.-The following shall constitut
= the first board of directors of this corpora
= ton: C. z. Allgeyer, New Orleans, La; lie
y Benoist. New Orleans, La; Thomas Green
: | Bush, New Orleans, La; II. Generes Dufou
. New Orleans, La; c. p. Ellis, New Orlean
!" La: H. ID. Emerson, New Orleans, La
> Frank r. Hayne. New Orleans, La; Bernar