The herald. [volume] (New Orleans, La.) 1905-1953, 1917-01-18


son for the full term and period OF ninety
! nine years from and after the date hereof;
| IL shall have power and authority to con-
| ,ract sue and be sued; to make and
corporate seal and the same to alter and
break at pleasure; TO hold, receive, lease,
purchase and convey, as well as mortgage
and hypohecate property real personal and
mixed c0rporeal and iucOrporeal; to borrow
money and to lend money security; TO
INV own and hold stocks and bonds OF other
corro-ations and 20 vote the same; to same
| and appoint such officers, directors, mana
sers and agents its business, interests
and convenience may require; and 10 make
| and establish. as well as alter and amend,
from time to time. such bylaws, rules and
regulations for the proper government OF
the affairs OF said corporation as may be
| necessary and proper, and TO likewise do
and perform any and all acts necessary to
carry on the business OF sad corporation
as in the judgment OF it, board OF directors
| shall seem proper.
Article 1.-THE d,ni,iie Of said corpo-
| ration shall be IN the city OF New Orleans;
State Of Louisiana, and all citations and
| president Of said corporation, or, in his alb
| sencc, upon the vicc-presidert thereof, or,
in the absence OF both Of said officers, upon
! the secretary Of sand corporation.
| Article III.-The objects and purposes Tor
| which said corporation Is organized and es-
| tallished and the nature OF the business %
| ne carried on by -, are hereby declared To
be:
r. buy. cor -uc, lease. and operate saw
| mills, planning mills, lath-m,ls and single
| mills. % construct. acquire lease and use
| -lilways tramways, canals and rights OF
way for ihe transportation OF timber and
| lumber ard other products for the use OF its
| mills and for other purposes; to buy. sell
| and lease timber lands and to acquire. lease
| and hold other lands for the OF saw
| mills, planning m,llS, shiuCle-mIils and ldth-
| mills. lumber yards and timber yards, and
| for other purposes; 70 buy and sell timber
| rights on lands; to buy and sell timber,
! logs uwber. shingles and other timber pro-
ducts, either for domestic sale or export to
| foreign countries or other states in the Unit.
operate bdrgcs, steam boats and other water
craft for the transportation OF logs, lumber,
| shingles and other timber products; to exc
| cute bonds IN the fuhlment OF contracts or
| in the performance Of their business; and
| to do any and all acts incident to and
| growing out of the carrying out of any and
| all Of the objects hereinabove enumerated
| Article IV.-The capital stock of said cor
| pOratiOn is hereby fixed at the sum of
| twenty thousand dollars CS20.O0OO0 divided
into and represented by two hundred shares
of stock OF the par value Of one hundred dol
lars $4,000 each The said stock shall be
paid for in cash, at such time, in such
amounts and after such notice TO the sub
scribers as may be fixed by the board Of
less than par for labor done or property
actually received by said corporation.
Said corporation shall become a going con-
Germ and be authorized TO do business as
| soon dS Twelve thousand collars OF us cap
ital stock shall have been subscribed and
! paid for
The amount 10 which the capital stock Of
said corporation may be increased shall be
! the sum of one hundred thousand dollars
(SlOO OO00..
The unsubscribed or treasury stock of this
! corporation or any increase of the capital
stock shall only be issued upon authority
Of the board of directors. and when issued
the original subscribers of this charter shall
have the right to purchase OF the treasury
I stock increased capital in proportion "a
70 the amount subscribed for in this charter
Article N.-All the corporate powers OF
said corporation shall be vested in and ex
r ercised by board of directors, composed Of
4 not less than five stockholders, a majority
4 of whom shall constitute a quorum. The
! said directors shall be elected annually or
, the third Monday of January in each year
I All such elections shall be held by ballot
{ and conducted at the office of said corpors
4 ton under the supervision of three com
r missoners to be appointed by the board Of
\ directors.
Notice of such elections shall be given by
the secretary of the company by written no.
tice thereof delivered personally or by de-
posting the same in the postoffice, properly
addressed, TO each stockholder at least IF
teen days preceding such meeting.
At all such elections and at all corporate
! meetings, every stakeholder shall be emit
tied to one vote for each share of stock
standing in his name on the books of the
| corporation, TO be cast IN person or by writ
ten proxy, and it shall require a ajority
I, of the stock outstanding 10 elect.
o Any vacancy among the directors by death
4 resignation or otherwise: shall be filled by
election for the remainder of the term, by
| the remaining directors.
A failure to elect directors on the date
{ above specified shall not dissolve the cor,
4 poratiOn nor impair its corporate manage.
e ment, but the directors then in Office shall
e remain in Office until their successors are
: elected and qualified.
I The board of directors shall elect from
d their own number a president and vice
t president. They shall also elect a secretary
and treasurer or one person Who shall be
: both. either of whom may or may not be
, members OF the board. They may from time
o to time name and appoint all such officers
e and agents as may be deemed necessary fol-
n the purpose and business OF the corporation
i they shall have power to FIX and define tn,
e duties of every officer and employee and al
d officers and employees shall hold Office anC
employment at the pleasure Of the board.
:: The board may make, as well as alter anC
: amend any and all bylaws, rules and reg
I, ulations necessary and proper in its judg
s ment for the conduct, support and manage
d ment of the business and affairs of said cor
n poration.
S The board shall have full power and au
d thority to borrow money, to execute mort
d cages and to create liens; TO issue bonds
notes and other obligations, and generally t,
Z do all things reasonable, convenient anC
IS necessary for the proper carrying on Of tn,
h business of the corporation.
The board may issue full paid shares o
n stock for cash or in payment of labor don,
r. or property actually received by said cor
e poration.
& At all meetings of the board of directors
It each director shall have the right to appoin
a proxy to act in his place and stead.
y Article VI.-Whenever this corporation ma,
r be dissolved, either by limitation or from
ii any other cause, its affairs shall be lqudatet
IS by three commissioners to be appointed from
Of amongst the stockholders at a general meet
n ing of the stockholders convened for sucl
purposes, of which meeting notice shall b.
'e gwen in the manner and time provided 70
IS the stock holders' meetings by Article vi
n OF this charter, and three-fourths in amour
'f Of the capital stock of the said company rep
'r resented at such meeting shall be reduisit,
e to elect. Said commissioners shall remain
l, IN otice until the affairs of said corporation
l. shall be fully liquidated. In case of tn
10 death OF one or Of said commissioners
the vacancy shall be filled by election b,
}. the surviving commissioners.
u Article VII-This act of Incorporation ma,
y be modified. changed or altered, or said cor
, poration may be dissolved or the capita
stock may be altered in accordance witt
r law, at meeting Of the stockholders callet
= Tor that purpose, after notice shall have beer
gwen by written notice to each stockholder
| delivered to him personally or nailed 4
!, him at the post-offce address designated b,
= him in writing at least fifteen DAYS prio
y to the date of the meeting.
e Article VIII.-No stakeholder shall eve
be liable for the contracts, faults or debt
A Of said corporation in any further sum tina
| the unpaid balance due the corporatiou n,