The herald., 1917-08-23
CHARTER
OF INTERNATIONAL SCRAP MATERIAL
COMPANY, INC.

OF INTERNATIONAL SCRAP MATERIAL
COMPANY, INC.
United States of America, State of Louisiana
Parish of Orleans, City OF New Orleans
Be it known, that on this thirteenth day
of the month of July, in the year one thou
sand nine hundred and seventeen, A. d.
before me, Charles Rosen, a notary public
duly commissioned and qualified, in and fo
the above parish and State, therein residing
and in the presence of the witnesses herein
after named and undersigned, personally
came and appeared
The several persons, of the full age o.
majority, whose names are hereunto sub
scribed, who declared that availing them
selves of the laws of this State in such
cases made and provided, they do hereby
form themselves, their successors and as
signs, into corporation under the following
Articles and stpulations, which they hereby
adopt as their charter, to-wit:
Article 1.-The name o. this corporation
shall be international Scrap Material Com.
pany, Inc. Its period of duration shall be
ninety-nine years from this date. Said cor.
poration shall have, for the purposes of the
business to be carried on by il, all the
powers conferred by law upon corporations,
and shall generally exercise all the powers
necessary to carry said business. Said
corporation shall have full power to contract,
sue and be sued in its corporate name; TO
make and use corporate seal, and the same
ceIve, purchase, rent, or otherwise acquire,
and to convey, mortgage, hypothecate, lease,
SELL or pledge, OF otherwise dispose of,
property, real, personal and mixed; 20 issue
bonds, notes, or other obligations; TO have
and employ such managers directors, officers
agents and other employees as the interest
and convenience of the corporation may re-
qure demand; to make and establish
such bylaws, rules and regulations for the
Snsgemen: and control Of the business and
OF the corporation as may be deemed
|ary or expedieut.
hcle 1.-THE domicile of the corporation
al be IN the City OF New Orleans, State
of Louisiana; and all citation and other
legal process shall be served on the prcsi-
dent, and in case Of his absence or disability
upon the secretary treasurer.
Article III.-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 buy and sell scrap iron. metals, rags,
rubber, and other scrap materials Of all
kinds. and other articles of merchandise and
personal property.
Article IV.-The amount of the capital
stock of this corporation is hereby declared
to be ten thousand (SlO,O0OOO} dollars, con-
sisting of one hundred shares of the par
value of 500 per share. One-half of said
amount shall be subscribed before the filing
fifty per cent shall be paid in cash before
the corporation engages in business, and the
remainder within twelve months
The remainder of the authorized capital
stock may be issued at any time by the
board of directors for money or property &C.
tualy received or labor done for the corpo-
ration, upon such terms and conditions as
the board of directors shall deem proper.
The amount TO which the capital stock may
be increased shall be fifty thousand ESQ.,
10000 dollars.
No stakeholder shall have the right 10 sell,
pledge, or otherwise dispose of his stock
without first offering it TO the other stock
holders in proportion TO their respective hold |
ngs through the board of directors for thirty |
lays at its book value, for cash; and all |
stock shall be held subject TO this provision, |
md every sale, pledge, encumbrance, or other |
disposition of said stock shall be made SUBJ
ect TO this provision of the charter.
The board Of directors shall have power to
eceive subscriptions for and 10 issue all
took hereafter subscribed for; but all such
took and any increase thereof must first be
ffered to the existing holders and owners
{ stock at the time of such issuance in pro-
ortion 20 their respective holdings.
Article Vail the powers of this corpora
on shall be vested in and the business
nd affairs of the corporation managed by q