The herald., 1917-08-02
CHAR TER
CHARTER
OF GULL NAVIGATION co. INC,

United States Of America. State of Louisiana,
Parish Of Orleans, City Of New Orleans
BE II known, that on this 9th day Of the
month OF Juy, in the year \. d. 1917, and
the Independence Of the United States, the
Jne hundred and iOrty-t-5t, before sc Henry
q. Bloch, notary public, duly c0mm ssioued
and quallned III and for this city and the
. Parish OF Orleans therein residing. and in
the presence OF the witnesses hereinafter
named and undeTS lgned, personally came and
appeared the persons whose names are here
10 subscribed all Of full age, who declared
that avaIlIng themselves Of the provisions
Of the laws OF this State relative to corpora
uons, they have cOvenantcd and agreed, and
do by these presents covenant and agree and
bind themselves well as 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 supulations, articles
and conditions which they hereby adopt as
their charter as follows, t5-wit:
Article Par. I. The name and title Of
Said corporation shall be Gulf Navigation Co..
Inc, and its domCile Is hereby established
in the city Of New Orleans, State Of LouiS'-
ana. and under its corporate name, said
corporation shall have power and authority
10 contract, sue and be sued. to make and
use a corporate seal and the same 70 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
0
other corporations and vote and sell the
same. to name and appoint such officers, d-
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 20 change and alter at pleasure.
and TO do all other acts and things permitted
by law or shall or may be necessary and
/ proper to carry out the objects and purposes
| Of said corporation.
! Par. 2-Sajd 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. 5LThe president, or in his absence the
/ vce-president shall be the proper person
! upon whom citation and other legal process
/ shall be served.
! Article T.-Par l. The objects and pur.
| poses for which this corporation IS organized
and the nature Of the business to be carried
| on by it are hereby declared to be:
Par. 2-To purchase, take in 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, 20 hire OF
| charter. or otherwise deal with and dispose OF
/ any ships, vessels, bargeS. water craft, as
| aforesaid; to operate, either individually or N
! conjunction with other common carriers, either
/ privately or as common carriers OF freight OF
/ passengers or both, ships, vessels, harges, OF
/ 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. ligh;ermen, forwarding agents
| ice merchants, retrlgeratlng storekeepers
/ warchouSeuen. wha-tlDgcrs, and general trad
| ers. and to that end to buy, sell, lease let
! hire, or 10 otherwise acquire or dispose Of
/ real estate, to borrow money and 70 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 tC
. do any and all things and 70 carry on any
/ and all business OF businesses which IN the
| judgment OF this corporation may he useful
! beneficial. necessary or complimentary TO III,
/ objects and purposes for which this company
I is organized.
Article III-Par. The capital stock o
| this corporation shall be and is hereby fxeC
| at the sum Of forty thousand dollars $40,
| l00CO) divided into 400 shares OF the pa,
value OF one hundred dollars (SlO0OO each
the capital stock Of this corporation shall a
| no time be increased to a sum exceeding tive
/ hundred thousand dollars ($9IGOOO.
/ Par. 2-The full amount Of each share o
, stock shall be paid for IN cash, its equiv
alent in property, or labor az the time SAINT
| is issued and no stock shall be issued unit
fully paid for.
Par. 5-The corporation shall be consti
/ tuted ard organized as a going concern wher
/ thirty thousand dollars Of its capital stocl
shall have been subscribed and paid for al
prescribed by law.
Par ALI stock shall Ike fully paid an,
worcestershire, no share OF stock shall bt
! transferred except on the books OF the cor
poTatiOn or until the certificate evIdeucini
the share or shares OF stock has been deiv
cred to the corporation and daily cancelled.
Par. 5-No stock shall be issued beyon,
that subscribed for in this charter except b!
| authority of the board OF directors and il
that event. each existing stakeholder shall
have the right TO subscribe for the same Ii
proportion to his holdings.
| Par. 6-No stockholder OF this compan,
shall have the right to sell his stock, unit
after such holder has first offered same t