The herald. [volume] (New Orleans, La.) 1905-1953, 1917-11-08
CHARTERS.


dent Of said corporation, or, in case OF his
absence or inability TO act or any vacancy
IN the ONCE, upon the Vice-PresIdent, and
N me absence or inability or resignation
the Secretary. The president shall be the
executive officer of the corporations he shall
preside at all meetings Of the Board of
Directors and stockholders.
Article III.-The objects and purposes for
which this corporation is established and
he nature OF the business TO be carried on
by II are hereby declared to be as follows,
lo-wit:
To engage in the business of lending
money, and to conduct a general loan busi-
ness 10 borrow money, to make and issue
bonds, payable to bearer or otherwise or
notes or drafts for the same or for any debts
5T Obligations incurred by II, or for any
Dther purposes OF the said corporation, and
10 secure same by mortgage or deed of trus;
OF any OF ITS property; 10 advance money on
property, both movable and Immovable and
30 take mortgages, pledges or any other Sc
-urlty therefor also 10 issue all kinds OF
certificates OF Indebtedness, the same as
HatuTal persons; 10 issue time certificates,
with or without interest; TO issue and sell
Investment certificates with or without in
.e-est, and generally to do all things nee
essaTy or convenient 70 properly carry out
he objects and purposes OF this corporation
and conduct its said business.
Article IV.-This corporation may sue and
be sued IN its corporate name; hold, have,
rccelve, purchase, convey, sell, mortgage,
ayp0ihecdte, pledge, lease and suitcase and
ENJOY real estate and personal and mixed
property; also borrow money, make and issue
notes and bonds, make contracts receive
grants OF land or personal property, and make
and use a corporate seal the same 10 alter
OF break at pleasure; name and appoint such
managers, directors, officers, CLERKS and
agents the interest and convenience OF
SAID corporation may require; and through
Is board OF directors, make and establish
such bylaws and rules and regulations for
ne proper management and regulation
u the business and affairs OF said corpora
non as may be necessary and expedent, and
The same TO alter and change at pleasure, and
shall possess all the rights, powers and
privileges 10 which corporations are now
by existing laws, or may be by any gen
cral laws, authorized 10 possess. Said cor
poratlon may exercise its corporate powers
within any other State OF Territory in the
United States or foreign country that shall
permit the same, and may acquire real estate
and Offices for the purpose of conducting the
business OF said corporation.
Article N.-The capital stock of this cor
poration is hereby fixed at the sum OF twenty
thousand dollars, divided into ten thousand
dollars Of common stock, Of the par value OF
5000 per share, and ten thousand dollars
Of preferred stock OF the par value OF 5000
per share
All stock subscribed for shall be payable
on such terms as the Board of Directors
may determine
This corporation shall be a going concern,
and may commence business, as soon as
nifty per cent OF said capital stock shall
have been subscribed, and fifty per cent of
the amount thereof actually paid in.
All transfers of stock shall be made on
the books of the corporation by surrender of
the original certificate properly endorsed for
cancellation by the stakeholder in whose
favor said stock is issued, or by his duly
authorized agent in writing.
The preferred stock issued may be in
creased 10 one hundred thousand dollars, but
no preferred stock shall enjoy voting pow
erS, provided the increase is voted for, al
a meeting duly called, by two-thirds OF all
Of the common stock.
The Common Stock issued may be in
creased to fifty thousand dollars by vote
Of the Board Of Directors of the corporation.
Article NL-The common stock shall have
the complete and exclusive control OF the
affairs OF said corporation. and the exclusive
right to vote at all stockholders meetings
Article VII.-Preferred stock shall be enti-
tied by preference to = dividend stock
Of eight per cent, and any excess OF profits
over that amount shall be apportioned and
paid to the common stock up to eight per
cent ANY excess, after apportioning divi
dends aforesaid, shall be divided and appor
toned equally between the two classes Of
stock.
Article VIII.-All the corporate powers of
this corporation shall be vested in and eXer-
cised by, Board Of Directors, to be elected
annually, composed OF not less than three,
nor more than eleven members, who shall
ne bona fde owners OF common stock stand
ing in their names, unpledged and unincum-
bered.
A majority of the said board shall const-
tute a quorum for the transaction OF BUSH
ness.
Until the first Monday in October, 1918,
the following named persons shall constitute
the Board of Directors OF this corporation,
to-wit: Samuel ]. Hart, w. A. Bisso, Fred
a Earhart. H. W. Robinson, d. A. Capdau,
all OF New Orleans.
All elections shall be by ballot, and such
holder OF common stock shall be entitled to
one vote for each share OF said stock stand
ing in his name on the books OF the corpora
ion, the vote to be cast in person, or by
proxy: il shall require a majority OF stock
present or represented to elect.
Failure to elect a board on the first Mon
day of October. 1918, at any other time
thereafter, shall not work forfeiture OF
this charter, but the old Board Of Directors
shall remain in office until their successors
are elected and assume duties.
The officers of this corporation shall con-
sist of a President, Vice-President and Sec
-etary and Treasurer. and the board may
combine the office Of Secretary and Treasurer
50 that same may be held by one and the
same person. Until the election in 1918, the
following persons shall constitute the officers
| II said corporation: Samuel J. Hart Pres
ident, w. A. BiSsO, Nice-Presldent, +. j.
Earhart, Secretary-Treasurer.
Article IN-Stockholders' meetings, other
than that for elections annually of members
Of the board. may be held whenever ordered
bv the Board of Directors, or requested by
IS per cent of the outstanding stock, COM
mon and preferred.
Notice of such meetings shall be given in
the manner required by law by personal no
tice to each stakeholder ny depostlng IN
the mails, properly addressed, written notice
Of the meeting. also that each stakeholder
shall have at least IS days notice thereof.
Stockholders may, however, walve written
notice and appear in person or by proxy.
Article X-This charter may be amended,
modified or altered with the consent OF two
| thirds of the amount Of common stock pres
ent or represented, at any general meeting
| Of said corporation convened for such pur-
pose after due notice as hereinbefOre pro-
yided for. ANY and all meetings Of the
| stockholders, whether for the purpose OF
| liquidation or for any other purpose, may
| be held at any time without notice by unan-
| imous consent of all stockholders, an writing
| fled with the Secretary.
Article XI.-This corporation may be dis
| solved and its affairs liquidated whenever
| in the Judgment of the majority Of the whole
| Board of Directors il shall be deemed advis.
| able, if ratified by a two-thirds vote OF all
| stockholders; OF by the consent. in writing
| If all of the outstanding stock, in which
| event no meeting shall be necessary.
| Whenever this corporation is dissolved for
anv cause, its affairs shall be liquidated
under the superintendent Of three 90
| stockholders TO be chosen for that purpose