The herald. [volume] (New Orleans, La.) 1905-1953, 1917-02-15

7
ton shall be in the city OF New Orleans,
State of Louisiana. where all citations and
other legal process shall be served upon the
president, and in his absence, upon the sec
rotary and upon the absence of both the
aforenamed, citation and legal process shall
be served on the treasurer.
Article llI.-The objects ana purposes for
which this corporation is organized and the
nature OF the business TO be carried on by
1t, hereby declared TO be to engage in
business in all of its branches, and fur
thermOre TO buy, lease or otherwise
acquire such material and property as
may be necessary to properly carry on
and conduct said auction and storage bus
iresses, and the establishment of stores,
ofnces, storehouSes, as well as to buy, lease
and hypothecate property real and personal,
and generally to do all things necessary and
and storage business in fully equipped
manner, including the power TO buy and sell
property OF all descriptions for its own use
and purposes as well as to act as agent for
others in such business in the purchase and
sale of all sorts OF property by action or pri-
vate contracts or otherwise occasion may
require.
Article IV.-The capital stock of this cor
pOratiou IS hereby declared to be the sum
Of five thousand dollars, divided into two
hundred shares of the par value of twenty
five dollars each, and this corporation shall
be operative and 60 into business and become
a gong concern, whcn TWO hundred SHARES
Of its capital stock shall have been subscribed
and paid for. to-wit, at the execution of these
presents, and in the manner following, viz:
In cash settlement Of twelve shares Leon
Pellat has paid three hundred dollars, in
cash current money.
In cash settlement of four shares, Stephen
!. Derbes has paid one hundred dollars, in
cash current money. And in settlement
for one hundred and eighty four shares, AL
bert Maurin has and does by these pres.
ents transfer, assign and deliver in full
ownership and payment for SAID one hun
dred and eighty-four shares Of stock, unto
this corporation, all of his rights, title and
ownership in and to all Of the stock in trade
forming part OF or in any manner connected
with the auction and storage business here
tofOre carried on under the name of the
"DerbeS 4 Maurn Auction & Storage CO.
but in truth and in fact belonging solely and
only TO Albert MaurIn, the said Stephens ].
DcrJcS now present hereby SOlemnly deClar-
ing that his names used in said business
for business reasons only, and without his
having any interest, right or title whatso-
ever in said business or the stock in
trade carried on under said name OF The
DerbcS Il Maurin Auction & Storage Co.,
the said Stephens J. Derbes hereby expressly
dlsclaimlng any rights whatsoever IN the
assets and credits Of said aforenamed auc.
ton business, all of which was truly owned
and vested in Albert Maurin, which stock
and merchandise consists of all kinds Of
household furniture and goods, the whole
as now contained in premises 400 Camp
street in this city, all of which movable
property, household furniture and stock in
trade and cash on hand forming part Of
said business IS fully worth the sum OF four
thousand six hundred dollars, and is hereby
appraised by the directors and parties IN in
tereSt in this charter, to the sum OF four
thousand six hundred dollars, in the manner
following to-wit: Parlor sets. bed room sets,
dining room sets. all forming part Of the
stock hereinbefore referred to, valued at
SSO035; Dressers, wardrobes, etc, all form
ing part OF the stock hereinbefore referred
to, valued at $3.50; One lot of chairs and
rockers. of the same stock, valued at $625,So;
Iron bed steads and other beds, of the same
stock, valued Sj3l.75; Mattresses and sun
dries, of the same stock, valued at $4l500;
Electric light deposit, $3.50; Open accounts,
ture and improvements, sl,l25OO; Cash on
hand. SlSlSO; total appra sed value of stock
surrendered by A. Maurin $4,000.
Article V.-The transfer herein made by
Albert Maurn and accepted by this cor
poration in full settlement of one hundred
to by the said Albert Maurin, is made
with all legal warranty Of title 10 said prop
erty and with full substitution and subro-
CATION in and TO all the rights. and actions
Of warranty which the said Albert Maurin
has or may have against all preceding own
ers and vendors.
Article Vino transfer of stock shall be
binding upon this corporation unless same
appears on the books thereof, and no stock
holder shall have the. right to assign or
transfer any share held by him, unless he
shall have first offered same, in writing,
to the board of directors, which will have
the right to purchase same for not less than
par value, and such shares of stock so &C.
quired by the corporation, may be re-issued
at not less than par value.
Article VII-The charter of this corpora
ttion may be amended by the vote OF two
thirds Of all its stock, at meeting OF the
stockholders duly called for the purpose; the
capital stock may be increased by the vote
of three-fourths Of all its stock at meet
ing of the stockholders duly called for that
purpose. Each share of stock shall be en-
by the stakeholder or by his agent or proxy,
which proxy or agency may be evidenced by
letter or other written document.
Article VTII.-The corporate powers OF
this corporation shall be vested in a board
of directors to be composed OF not less than
ers at a general meeting TO be held on the
second Monday of January in each year.
No stakeholder of this corporation shall be
eligible as a director unless he owns IN his
own name, full paid and unpledged, at least
three shares Of the capital stock OF this cor
pOration.
Article IX.-The board of directors shall
have power to make all bylaws, rules and
regulations necessary for the conduct OF the
business affairs of said corporation; shall
elect from their number a president, a Sec
rotary and treasurer
Article X.-This corporation shall have the
power to sue and be sued in its corporate
NAME to make and use a common seal, and
to alter same at pleasure, to acquire property
real and personal by grant, gift, purchase;
and to devise or bequeath. to lease, hold and
dispose of and to mortgage and pledge the
same and to appoint such officers and agents
as the business Of the corporation may re-
uuire and to fix their compensation, to make
bylaws fixing or altering the management
of its property, the regulations and manage
ment of its affairs and the manner OF the
certifcation and registration of its stock, to
conduct business in this state ard other
states of this union and TO do and perform
all manner of contracts and transact all
manner of business which may be connected
with incidental or germane to, the purposes
for which this corporation is organized
Article XI-Until the election to be held
as herenabove provided, the following shall
constitute the first board of directors, who
shall hold Office until their successors shall
have been elected and duly qualified.
Signed: Albert Maurin, l465 N. Villere St:
n B.; Leon Pellat, 1867 N Villere ST., N
O.: Stephens ]. Derbes, 14l4 Kerlerec ST.
n. O., with Albert Maurin as president
Leon Pelat as treasurer and Stephens J.
Derbes as secretary.
Thus done and passed, at the City Of
New Orleans, on the day, month and yeai
herein first above written. in the presence
of Messieurs P. L. Fourchy and NJ. "A. Yer
lander competent witnesses, who have mere
unto signed their names with the said ap
bearers, and me. notary, after reading OF
the whole.
Original signed: A. Maurin, 1874 shares; L
Pellat, IL shares; Stephens J. Derbes.
shares. P L. Fourchy, NJ. A. Verlander.