The herald. [volume] (New Orleans, La.) 1905-1953, 1917-02-15
and stipulations following, to-wit:

4 { VJNtT dUTWOIIIy
| and enjoy corporate existence and success
sion for the full term and period OF ninety
nine years from and after the date hereof
! It shall have power and authority to con
| tract, sue and be sued; to make and us'
! 4 corporate seal and the same 10 alter anC
break at pleasure; TO hold, receive, lease
| purchase and convey, as well as mortgage
and hypotheCate property, real, personal anC
mixed, corpOreal and iucorpOrcal; to borrow
money and 10 lend money on security; L
by, own ard hold stocks and bonds Of othe
| corporations and TO vote the same; to SAME
and appoint such officers, directors, mana
gers and agents as its business, interests
and convenience may require; and 10 make
| and establish, as well as alter and amend
| from time - time, such bylaws, rules an,
regulations for the proper government Of
he Affairs OF said corporation as may bc
necessary and proper, and TO likewise do
ard perform any and all acts necessary tc
carry on the business of said corporation
as in the judgment O! its board Of directors
shall seem proper.
Article 1.-The domici'e Of said corpo
ration shall be in the city Of New Orleans
state OF Louisiana. and all citations and
other legal process shall be served on the
president OF said corporation. or, in his alb
>cncc, upon the y'ce-preSid-1t thereof, or
in the absence of both OF said officers, upon
the secretary of said corporation.
Article III.-Ih- objects and purposes for
which said corporation Is organized and es-
raoliNhed and the nature Of the business 4
>" carried ON by II, are hereby declared "a
be:
T. buy, construct, lease. and operate saw
mills. p'anI9E-mll.S, .ath-~lrllS and single
mills, 20 construct. acquire, lease and use
railways, trlmwayS, canals and rights OF
way for the transportation of timber and
lumber and other product, for the use Of It's
NILS and for other purposes; to buy, sell
and lease timber lands and 20 acquire lease
and hold other lands for the use of saw
mills, planning mills, Shirglc-mills and lath-
mills trlsDlFr wards and timber y4rls 7D1
for o'he- purposes; 10 buy and sell timber
rights on lands; to buy and sell timber,
logs lumber, shingles and other timber pro-
duets. either for domestic sale or export 10
ID states; = acquire, lease, charter and
operate harges. steam boats and other water
craft for the transportation Of logs, lumber
shingles and other timber products; TO exc
IN the performance of their business; and
TO do any and all acts incident to and
growing out Of the carrying out of any and
all OF The objects hcrcinabOyc enumerated
Article IV.-'The capital stock Of said cor.
poratloT. IS hereby fixed at the sum of
twenty thousand dollars (S2OOOOGO divided
MO and represented by two hundred shares
u stock OF the par value of one hundred dol
lars $4,000 each. The said stock shall be
paid FOR IN cash, at such time, in such
amounts ard after such notice to the sub
s,crIberS as may be fixed by the board Of
directors, or the same nav be issued AZ NOT
less than par for labo~ done nv n-aoer,,,
actually received by said corporation
Said corporation shall become going CON
Germ and be authorized to do business as
soon as twelve thousand dollars of lis can.
itaI stock shall have been subscribed and
paid for
TIE amount to which the capital stock of
SAID corporation may be increased shall be
ne sum OF one hundred thousand dollars
The unsubscribcd or treasury stock of this
corporation or any increase OF the capital
stock shall only he issued upon authority
81 the board Of directors, and when issued
me original subscribers OF this charter shall
nave the right to purchase of the treasury
STOCK or increased capital in proportion 10
the amount subscribed for in this charter
ATtieie N,-All the corporate powers of
creased by board Of directors, composed OF
not less than five stockholders, a majority
II whom shall constitute a quorum. The
Said directors shall be elected annually on
the third Monday of January in each year.
All such elections shall be held by ballot
and conducted at the office of said corpora
ton, under the supervision of three COM
Tlss'oners to be appointed by the board of
directors.
Notice of such elections shall he given by
the secretary OF the company by written no.
tice thereof delivered personally or by de-
posting the same in the postofice, properly
addressed to each stakeholder at least ff-
teen days preceding such meeting
Al all such elections and at all corporate
meetings. every stakeholder shall be emit
tied to one vote for each share of stock
standing IN his name on the books of the
corporation, to be cast in person or by writ.
ten proxy, and it shall require a majority
Of the stock outstanding to elect
Any vacancy among the directors by death.
resignation or otherwise shall be filed by
election for the remainder of the term, BY
the remaining directors.
A failure to elect directors on the date
GaA cka1T 1.
pora:lon nor impair its corporate manage
neut, but the directors then in Office shall
remain III office until their successors are
elected and qualified
The board of directors shall elect from
heir own number a president and vicr.
president. They shall also elect a secretary
ana treasurer or one person who shall be
both. either of whom may or NAV not be
members of the board. They may from time
20 time name and appoint all such officers
ne purpose and business of the corporation.
hey snail have power to fix and define the
iuties OF every officer and employee and all
'itIcers and employees shall hold Office and
Employment at the pleasure of the board
The board may make, as well as alter and |
amend any and all bylaws, rules and reg |
NATIONS necessary and proper in its judg- |
nent Tor the conduct, support and manage
nent OF the business and affairs of said cor
,oration.
The board shall have full power and au. |
horty to borrow money, TO execute mort |
'ages and TO create liens; to issue bonds |
totes and other obligations, and generally 10
10 all things reasonable, convenient and |
necessary for the proper carrying on of the
business of the corporation
The board may issue full paid shares of |
lock Tor cash or in payment of labor done |
IT property actually received by said cor |
'oration.
At all meetings of the board of directors
ach director shall have the right to appoint |
proxy to act in his place and stead.
Article VI.-Whenever this corporation NAV
'e dissolved either by limitation or from
my other cause. its affairs shall be liquidated /
" three commissioners to be appointed from
mongst the stockholders at a general meet
ng of the stockholders convened for such
purposes, Of which meeting notice shall be
lVen IN the manner and time provided for
ne stockholders meetings by Article VII |
I this charter, and three-fourths in amount
the capital stock of the said company rep
esented at such meeting shall be REQUISITE
o elect. Said commissioners shall remain
n ofhce until the affairs of said corporation
hall be fully liqudated. In case of the
cath OF one or more of said commissioners.
ne vacancy shall be filled by election by
ne surviving commissioners.
Srticle VIL-This act of Incorporation NAV
e modified, changed or altered, or said cor |
Grafton may be dissolved or the canital
took may be altered in accordance with
iw, at meeting of the stockholders called
or that purpose, after notice shall have been |
wen by written notice to each stakeholder.
eIvered to him personally or mailed TO
I'm at the post-officc address designated nv
I'M IN writing at least fifteen davs nr;oI
} the date of the meeting
Article V1II.-No stakeholder shall ever
Ia6le Tor the contracts, faults or debts
said corporation in any further sum than