The herald. [volume] (New Orleans, La.) 1905-1953, 1917-12-27
ACT OF INCORPORATION
OF BRAUD HARDWOOD LUMBER &C

Or bkAUD HARDWOOD LUMBER CO.,
INC.
| State OF Louisiana, Parish of Orleans, City
of New Orleans.
OF the month of November, 1917, and of the
| Independence of the United States of Amer
| lea the one hundred and forty-second, before
me, Charles +. Fletchinger, notary public
duly commissioned and qualified in and for
| the city, parish and state aforesaid, therein
| residing, and in the presence of the wit
nesses hereinafter named and undersigned,
| personally came and appeared the several
persons whose names are hereunto subscribed,
who declared that, availing themselves of
the provisions of the laws of this State rel
alive TO the formation and organization of
corporations, they have covenanted and
agreed, and do, by these presents, covenant,
| agree and bind themselves, as we'll as those
VINO may hereafter become associated with
| them, TO form themselves into a corporation
| Tor the objects and purposes, with the name
| and under the stipulations following to-wit:
Article 1.-The name and style of this cor
| poration shall be Braud Hardwood Lumber
Co, Inc, and by said corporate name it
| shall have and enjoy succession and exist
| less sooner dissolved, and shall have all the
| rights, privileges and immunities which are
| now or may hereafter be granted by law to
| corporations offs the same kind and character,
| and under said corporate name il shall have
| the power and authority to contract, sue and
| be sued, to make and use a corporate seal,
| the same 10 break or alter a. pleasure, and
to make all necessary rules and regulations
Tor ITS corporate management and control.
Article 1.-THE domicile of this corpora.
| ton shall be in the City of New Orleans,
| Parish of Orleans, State of Louisiana, and
citation and other legal processes shall be
served upon the Secretary, or in case of his
| absence or inability to act, upon any other
| officer of the corporation.
Article lll.-The objects and purposes for
which this corporation is organized and the
nature of the business to be carried on by
| it, are hereby declared to be: TO manufacture
hardwood and other lumber, and the products
| thereof; to buy and sell timber, timber lands,
| lumber and other forest products; TO acquire
| by purchase or otherwise, and to own and
operate, saw mills, planning mills, and other
| manufacturing plants germane to its busi-
ness; to acquire by purchase otherwise,
! and to own and operate logging roads, tram
| ways, skidders, tug boats, barges and other
water craft in connection with its said bust
ness, but not as common carrier; TO own
and operate commissaries for the sale by
| retail and to do and perform all such acts
| and things connected with or appertaining
| to the manufacture and sale of lumber and
other wood products as are or may be ger
name to the objects and purposes above ex-
pressed.
Article IV.-The capital stock of this cor
poration is hereby fixed at the sum of FIVE
| thousand $4,000 dollars, divided into fifty
| (5O) shares of the par value of One Hundred
| (SlOO Dollars each, all of which shall be
| common STOCK, ana the amount TO winch the
| capital stock may be increased is hereby
| liked at the sum OF fifty thousand (50,0O0)
| Dollars; the said stock shall be issued only
| for cash or in payment of property SER
vices actually received by. or rendered TO
| SAID corporation; said stock shall be fully
| paid for at the time of its issuance and
| thereafter be worcestershire.
This corporation shall commence business
| and become going concern as soon as the
| whole of its Five thousand (S5,OO0) Dollars,
of capital stock shall have been subscribed
| and paid for.
| The parties to this act hereby declare that
| they subscribe for the number of shares OF
/ the capital stock of said corporation, set op-
posite their respective signatures hereto, so
| that this act of Incorporation shall serve as
/ the original subscription.
| Edward r. Braud, of the said sub
| scribers to the extent of Forty-seven shares
of the capital stock of said corporation, in
| full payment and Liquidation of said sub
| scription, does hereby convey, transfer, as
| sign and set over and deliver to this cor
poration all of his right, title and interest
| in and to those two certain timber contracts
/ described as follows:
| First. All the right, claims, title and in
| terest acquired by Z. r. Braud from c. F.
| Borah in and to that certain contract dated
| October II, 1916, between w. H. Slaydon,
of the first part, and A. G. Little of the
| second part, the interest of the said A. G.
| Little in said contract being assigned by the
| Nicholson Lumber & Manufacturing Co, on
Nicholson Lumber & Manufacturing Co. be-
| ing conveyed to Chas. F. Borah, on April
| 9, 1917, which assignment, together with GER
| tilted copy of the original contract, were
| recorded on April IL, 1917 in Conveyance
| Book 50, p. al, on the records of the Parish
| Of St. Tammany, La
Second: All the right. title, claim and
interest of the said E. r. Braud in and to
between A. G. Little and J. T. Coney, J.
s. Sexton and George w. Covington, the
| rights to which contract have BY various
| assignments passed unto the said E. r.
recordation in the Office of w. E. Blosman,
| by. Clerk and Ex-oficio Recorder, at Gov.
| ington, on March 9, 1917; said contract COW
ering timber on what is known as the ''Ha'
zlehurst Tract"
The said Edward R. Braud, John T. Clo-
linger, Thomas D. Mobley, Clark w. Storrs
/ and Byrd II. Mobley compose all the mem
bers OF fhe Board Of Directors of this cor
pOration in accordance with the require
| 267 of 1914, of the Legislature of the State
/ of Louisiana, hereby value and apprase the
right, title and interest of the said Edward
r. Braud in and to the timber contracts
aforesaid at the sum of Forty-seven hundred
| $4,000 Dollars.
| No present or future stakeholder of this
corporation shall ever sell, assign or trans.
fer, other than by inheritance, any Of the
capital stock of this corporation until the
same shall have been first offered to the
| remaining stockholders for the benefit OF
/ those stockholders who may desire to pur-
/ chase the same through the Board of Direc'
| tors, for a period of ten days, at the book
| value of such stock as shown by the books
of the corporation, on the 3lst day OF De.
| cember, preceding the date OF such offer. IL
| shall be the duty of the Board of Directors,
/ promptly upon receiving an offer of sale OF
/ any of the capital stock of this corporation,
/ 10 communicate the same TO the stockholders,
| in writing, through the Secretary of the
/ Company and each of the said stockholders
| shall be entitled to purchase such proportion
| Of the stock SO offered for sale as the num-
Der of shares owned by him, bears to the
| number of shares owned by all other stock.
holders deiring to participate in the pur.
| shares No sale under foreclosure, attachment
or other process, or by virtue Of any power
of attorney, pledge or hypothecation, shall be
yalidly made until the foregoing require
ments have been complied with by the per
son or persons, firm or corporation provoking
| such foreclosure or sale. The Board OF Di-
rectors shall have authority, however, to
waive the above requirements as to any par
ticular hypothecation or pledge Of stock, by
| ing of the Board, or a meeting attended by
| all the members of the Board of Directors,
such resolution being adopted in advance of
| the pledge or hypothccation.
| Article V.-All the powers of this corpo-
/ ration shall be vested in and be exercised
by Board of not less than three 90 nor
more than seven % directors, as determined
! in advance each year by the stockholders
/ at the annual meeting. Each director shall
i be a bona-fde stakeholder, and shall own
| at all times One Cd full paid. non-pledged