The herald., 1917-06-28
CHAR TER

OF COTTON LAND & TRADING co. INC.
State of Louisiana, Parish Of Orleans, City
ot New Orleans.
Re il known, that on this 9Th day Of June,
1917. before me. Herbert ". Kaiser, notary
public, duly commissioned and qualified, IN
and for the Parish OF Orleans, State %
Louisiana, IN the presence Of the witnesses
hereinafter named and undersigned. person
ally came and appeared the persons whose
names are subscribed hereto, who declared
that, availing themselves of the provisions OF
the laws of the State of Louisiana. and more
particularly of Act No. 267 of the General
Assembly OF the State Of Louisiana for the
year 1914, they have cOvenanted and agreed,
and do, by these presents, covenant, agree,
bind and form themselves, as well as such
persons who may hereafter join and become
associated with them, into corporation and
BODY polite in law. for the objects and pur-
poses ard under the agreements and stpula
tons following, to-wit:
Article 1.-The name and style OF this
corporation shall be Cotton Land & Trading
Co, Inc, and under that name it shall
have and enjoy all the rights, advantages
and privileges granted by law TO corpora
tions. 1t shall exist for a period of ninety
nine years from date hereof, unless sooner
dissolved; it shall have power to sue and
he sued in its corporate name: to make and
use a corporate seal and to break and alter
the at pleasure; 20 hold, receive, con-
yey, mortgage and hypothecate real, personal
and mixed property; to issue bonds, notes
or other obligations; 10 have and employ such
and convenience OF the corporation may re-
qure; and to make and establish such laws,
rules and regulations for the corporate man
agement and control of the business and
affairs OF the corporation as may be deemed
necessary and expedient.
Article 1.-THE domcile Of this corpora
ton shall be in the City OF New Orleans,
State of Louisiana, but it may carry on its
business and affairs in any part OF the world
that its directors may see mt. All citation
and other legal process shall be served on
the president and in his absence on the sec
retary-treasurer.
Article III.-The objects and purposes of
this corporation are: TO acquire, hold and
possess by whatsoever title movable i'm
movable property of every description in the
State OF Louisiana and elsewhere in the
world. whether by purchase. lease, Donation
exchange or otherwise; to improve ImmOvable
property by the erection OF buildings thereon
or the planting and growing of crops; TO
buy, sell and exchange stocks, bond, mer-
chandise, cotton and other products of the
soil; to borrow money whether upon the
credit Of the corporation notes OF the
corporation secured by mortgage on its prop
erty or otherwise: to lend money upon mort
gage. other security; and in general, to
do any and all acts and things connected
with, incidental to or growing out of the
said objects set forth or contemplated.
Article lN.-The capital stock OF this cor
poration is hereby fixed al the sum OF forty
thousand (s+O,m0OO) dollars. which capital
stock may be increased TO one hundred thou
sand ($lOO,0OOO) dollars. Said capital stock
shall be divided into four hundred shares
IF the par value of hundred dollars
(SlO0OO) each, TO he paid for in cash, in
consideration for immOvable property, stocks
bonds or merchandise transferred to this
corporation in lieu of cash to be deter
mined upon appraised values set upon such
property, transferred, by the board of d.
-ectors. for which property transferred.
this corpoation may issue its full paid and
non aSSeSSable stock.
Article V.-All shares OF capital stock shall
be worcestershire, and no transfer shall be
binding upon the corporation unless made
upon its books, and all certificates of stock
shall be signed by the president and the sec
retary-treaSurer of the corporation.
Article Vino stockholder Of this cOrpor-
alton shall offer for sale. sell, az ign or trans
ing TO the other stockholders thirty days
prior notice of such intention, which notice
shall be given in writing to the president of
he corporation and shall by said president
he Immediately made known to the directors
Of the corporation. and the other stockhold-
ers shall have the privilege OF purchasing
said stock AZ the book value thereof for a
period OF thirty days from delivery OF said
notice TO the president.
Article NII.-All the corporate powers Of
this company shall be vested in, and the
management and control Of its business and
affairs shall be exercised by, a board OF
directors composed OF three stockholders. A
majority of the directors shall constitute
quorum for the transaction of all business
A. any meeting Of the board of directors at
which there are only two members of the
board present. the absent director NAV give
to either OF the two directors present at said
meeting written proxy TO vote in the narse,
place and stead OF the absent director upon
any question that may come before the said
directors at said particular meeting. The
directors shall be elected annually by bal
lot on the first Wednesday after the first
day of January Of each wear All elections
shall be held under such rules and regula-
tir0s a may he determined bv the board Of
directors bur after az least ten days notice
~ such election shall be gwen 10 each stock
holder hy mail sent % his last known ad.
N-r.> ny hy publication for AZ least three
'rmrs '~ ten days preceding such election N
rr- n: the English newspapers IN New Or
Team. " failure % hold an election shall
ps -~garir1 8s a forfeiture 81 th's charter.
40 Vacancy .n The board 81 directors shall
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