The herald., 1917-08-09
CHARTER
OF GULL NAVIGATION CO, INC.

| United States of America, State of Louisiana
Parish OF Orleans, City of New Orleans.
BE 1t known, that this 9th day of the
month OF Jul y, in the year A. D. 1917, and
me independence OF the United States, the
one hundred and forty-irst, before me- Henry
u Bloch, notary public, duly COMM sioned
and qualified in and for this city and the
Parish of Orleans therein residing, and in
tne presence OF the witnesses hereinafter
named and undersigned, personally came and
appeared the persons whose names are here
to subscribed, all of full age, who declared
mat awaiting themselves of the provisions
OF the laws of this State relative to corpora
tions, they have covenantcd and agreed, and
40 by these presents covenant and agree and
bind themselves as we'll as such other per-
sons as may hereafter become associated with
mem; 10 form and constitute corporation
and body polite in law for the objects and
purposes and under the stipulations, articles
and conditions which they hereby adopt as
their charter as follows, to-wit:
Article I.-Par. /. The name and title Of
SAID corporation shall be Gulf Navigation Co.,
Inc, and its domicile is hereby established
IN the city of New Orleans, State of Louisi-
ana, and under its corporate name, said
corporation shall have power and authority
to contract, sue and be sued to make and
use corporate seal and the same to break
and alter at pleasure, to hold, receive, lease
purchase, improve and ALLEVIATE and convey
sell, borrow, pledge, mortgage and hypothe-
cate under ITS said corporate name, property
other corporations and vote and sell the
same, to name and appoint such officers, di-
rectors and agents, managers and employees
as the interest convenience of said corpo-
ration may require; to make and establish
bylaws, rules and regulations for the proper
management and regulation of its affairs as
may be deemed necessary and proper and
the same TO change and alter at pleasure
and to do all other acts and things permitted
by law or as shall may be necessary and
proper to carry out the objects and purposes
of said corporation.
Par. 2-Said corporation, unless sooner dis
solved in accordance with its charter, shall
exist and continue for the period of ninety
nine (99) years from and after the date
hereof.
Par. 3-The president, or in his absence the
vice president shall be the proper person
upon whom citation and other iegal process
shall be served
Article I.-Par. /. The objects and pur-
poses for which this corporation is organized
on by it are hereby declared to be:
Par 2-To purchase, take in exchange or
otherwise acquire and hold ships, vessels,
barges and other water craft, or any shares
or interest in ships, vessels, barges and other
water craft, and TO maintain, repair, improve
alter, sell, exchange, or let out, TO hire or
charter, otherwise deal with and dispose of
any ships, vessels, barges, water craft, as
aforesaid; to operate, either individually or in
conjunction with other common carriers, either
privately or as common carriers of freight or
passengers or both, ships, vessels, barges, or
other water craft. either owned, leased, char
tered, rented or held by this company; 10 carry
on all any of the business of ship owners
ship brokers, managers of shipping property,
freight contractors, carriers by land and sea,
barge owners, lightermen, forwarding agents,
ice merchants, refrigerating storekeepers,
warehousemen, wharhngers, and general trad
ers, and to that end to buy, sell, lease let,
hire, or to otherwise acquire or dispose of
real estate, to borrow money and 10 give
therefor bonds, notes other evidences of
indebtedness, either simple or secured by
mortgage on real estate other property
owned by the corporation and generally to
do any and all things and to carry on any
and all business or businesses which in the
judgment of this corporation may be useful,
beneficial, necessary or complimentary to the
objects and purposes for which this company
is organized.
this corporation shall be and is hereby fixed
at the sum of forty thousand dollars (S40,-
000OO) divided into 400 shares of the par
value of one hundred dollars $4,000 each /;
the capital stock of this corporation shall at
no time be increased to sum exceeding two
hundred thousand dollars (S2O0,0c0OO).
Par. 2-The full amount of each share of
stock shall be paid for in cash, or its equiv
alent in property, or labor at the time same
is issued and no stock shall be issued until
fully paid for.
Par. S-The corporation shall be consti-
tuted and organized as a going concern when
thirty thousand dollars of its capital stock
shall have been subscribed and paid for as
prescribed by law.
Par. All stock shall Ike fully paid and
non assessable, share of stock shall be
transferred except on the books of the cor
poration until the certificate evidencing
the share or shares of stock has been deliv.
cred to the corporation and duly cancelled.
Par. S-No stock shall be issued beyond
that subscribed for in this charter except by
authority of the board of directors and in
that event, each existing stakeholder shall
have the right to subscribe for the same in
proportion to his holdings
Par. 6-No stakeholder of this company
shall have the right to sell his stock, until
after such holder has first offered same to