The herald., 1917-08-16
CHARTER
OF GULL NAVIGATION CO, INC.

United States of America. State of Louisiana,
PARISH OF Orleans, City of New Orleans.
BE It known, that on this 9th day of the
month OF July, in the year A. D. 1917, and
the Independence OF the United States, the
one hundred and forty-frst, before me, Henry
Il. Bloch, a notary public, duly commissioned
and quallhed in and for this city and the
IdrIsh OF Orleans therein residing, and in
The presence OF the witnesses hereinafter
named and undersigned, personally came and
appeared the persons whose names are here
10 subscribed, all OF full age, who declared
that ayallIng themselves of the provisions
OF the laws OF this State relative to corpora
lions, they have covenanted and agreed, and
90 by these presents covenant and agree and
bind themselves as well such other per-
sons as may hereafter become associated with
them, to form and constitute a 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 Par l. 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
real, personal or mixed, to own stock in
other corporations and vote and sell the
same, to name and appoint such officers, di-
rectors and agents, managers and employees
as the interest or 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 or may be necessary and
10 nd
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 legal process
shall be served.
Article II.-Par. /. The objects and pur-
poses for which this corporation is organized
and the nature of tine business to be carried
on by it are hereby declared to be:
Par. 2-To purchase, take III 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 or 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
passengers or both, ships, vessels, barges, or
| other water craft. either owned, leased, char
| tered. rented or held by this company; TO carry
| on all or any of the business of ship owners,
| ship brokers, managers OF shipping property,
| freight contractors, carriers by land and sea,
| barge owners, hghtermen, 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 TO give
| therefor bonds, notes or other evidences OF
| indebtedness, either simple or secured by
| mortgage on real estate or 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 10 the
| objects and purposes for which this company
| is organized.
| Article III.-Par. The capital stock OF
| this corporation shall be and is hereby fixed
at the sum of forty thousand dollars (S+0,-
O0OOO divided into 40 shares of the par
value of one hundred dollars $4,000 each
| the capital stock Of this corporation shall al
no time be increased TO a sum exceeding two
| hundred thousand dollars (S10,0000).
| Par. 2-The full amount of each share Of
stock shall be paid for in cash, or its equiv
| aent in property, or labor at the time same
is issued and no stock shall be issued until
| fully paid for.
Par. 3-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
! worcestershire, no share OF stock shall be
| transferred except on the books Of the cor.
| poration or until the certificate evidencins
| the share or shares OF stock has been deliv
cred to the corporation and duly cancelled.
! Par. 5-No stock shall be issued beyond
| that subscribed for in this charter except BY
authority of the board of directors and il
| that event. each existing stakeholder shall
have the right 10 subscribe for the same II
proportion to his holdings.
shall have the right to sell his stock, unit
! after such holder has first offered same e