The herald. [volume] (New Orleans, La.) 1905-1953, 1917-07-26

| I'm themselves their successors and as
/ .'ghs: INTO a corporation under the followins
! Articles and stIpulations, which they beTehs
| adopt as their charter, t0-wit:
! Article The name OF this co-pora,;o,
! snail be International Scrap Material Com.
pahy' Inc. It's period Of duration shall be
| nineiy-nne years from this date. Said COZ.
! p1raii'n snail have, for the purposes Of the
/ business 10 be carried on by II, all the
! powers conferred 10y law upon corporations
ana sha!! generally exercise all the powers
! necessary 10 carry on said business Said
! corporation shall have full power 10 contract.
sue ana be sued in its corporate name: 10
make ana use a corporate SEAL and the same
l 10 break or alter al pleasure: 10 hold, re-
| ana 10 convey, mortgage, hyp0:hecate lease
/ sell, or pledge, or otherwise dispose Of
| property real, personal and mixed; 10 issue
bonds, notes, or other obligations: 10 have
and employ such managers. directors officers.
agents and other employees as the intere,.
| and convenience of the corporation NAV re-
qul:e or demand; 70 make and establi n
>ucn bylaws, rules and regulations for the
management and control Of the business and
AFFAIRS Of the corporation as may be deemed
necessary or eNpedlent
Article 1.-The do-icile Of the corporation
shall! be in the City Of New Orleans, State
| legal process shall be served on the presl-
dent, and IN case Of his absence or disability
upon the secretary-treasurc-
Article III.-The objects and purposes t5r
which this corporation j. organized and the
! nature Of the business % be carried on by
II are hereby declared 10 be.
To buy and sell scrap iron. metals rags.
rubber, and other scrap materials II all
kinds. and other articles Of merchandise and
personal property.
Article IN-The amount OF the capita,
stock OF this corporation : hereby declared
20 he ten thousand lSl0,pp'OOl dollars. con-
s'stlng OF one hundred shares Of the par
value Of 500 per share. pnc-half Of sad
I amount shall be subscribed before the filing
Of the Articles u Incorporation, Of which
"t'y PEI cent shall be paid N 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
,uaily received or labor done Tor the cDrpo-
ration. upon such tens and conditions a.
the board Of directors shall deem proper.
The amount 70 which the capital stock may
he increased shall be nifty thousand 49,,
Op.OO dollars.
No stakeholder shall have the right 70 sell,
pledge. OF otherwise dispose Of his stock
without first offering II TO the other stock
holders in proportion 70 their respective hold
iugs through the board Of directors for thirty
days At is book value, Tor cash; and al
stock shall be held subject 70 this provision.
and every sale. pledge, enCumhrance, or other
disposition Of said stock shall be made SUD
JeCt 70 this provision Of the charter.
The board Of directors shall have power TO
receive subscriptions Tor and TO issue al.
stock hereafter subscribed tor; but all such
stock and any increase thereof must nrSt be
offered to the existing holders and owners
Of stock at the time OF such issuance IN pro-
portion 20 their respective holdings.
Article N.--Ali the powers OF this corpora
ton shall be vested IN and the usineSs
and affair, OF the corporation managed by a
board Of three directors, who shall be elected
annually at a meeting OF the stockholders
on the Third Monday Of July Of each year
The trst annual meeting shall he held on
the Third Monday OF July, 1918, until which
tine the officers and directors named IN this
charter shall act, or until their successors
are elected and qualified The stockholders
may at any time remove any director and
The oifcers Of this corporation shall be a
president, a president and a secretary
treasurer
The first board Of directors TO serve FOX
Aaron Roseu. III Magnolia Street, New
Orleans La; Morris K. Rosen, SIS ;. CIa'-
borne Avenue, New Orleans, La; Herman
PerlOff, los Tulane Avenue, New or.eans'
La. With Aaron Rosen as president, M2TTs
r. Rosen, vIce-prcSIdent; and Herman Fer
LOFT, secretary treasurer.
All elections shall be by ballot az the Of
fee OF the company, under the SUPERVISION Of
TWO mmissionerS > be appointed by the
hoard Of directors. Notice OF such meeting
shall be given by the seCretdry-;reasurer IN
writing and delivered 10 each s;2ckholder IN
Al least fifteen days prior to such election +;
but this notice may be waived by all the
stockholders.
A. all such elections and at all meetings
Of the stockholders, every stakeholder sAa!.
be entitled to one vote Tor each snare OF
stock standing in his name on the books 81
the company al the date OF such election or
meeting: SAID votes to he cast IN person or
by written proxy; and majority OF the
votes cast shall elect.
The failure to elect directors at the annua!
meeting shall not dissolve or affect the COZ
porati0n nor impair its management IN any
respect but the directors IN office shall re-
main in office until their successors are
elected and qualified. Each subsequent board
OF directors shall elect as soon as possloie
after their own election a president wee
president. and q secretary treasurer, and may
grant to each officer such powers as they
All vacancies in the board OF directors for
wherever cause shall be filled by the re-
naming directors Any member Of the board
NAV appoint any other director his proxy 10
act in MS place and stead al any meeting OF
the board. q,
The board OF directors may make, amend
and repeal bylaws for the regulation OF the
company not inconsistent with such bylaws
a may be made by the stockholders.
Article NI.-This act OF Incorporation may
he modified, changed or altered. or said cor
n,-atiou NAV be dissolved, with the assent
5f two.thirdS Of the capital stock outstanding
At meeting OF the stockh9!deT' coAFeheu
for that purpose, and after hiicen days VIII
ten notice has been delivered IN person or
given bv letter mailed to the last known ad-
dress Of each stockholder. The said notice
may be waived by the unanimous consent OF
all the stockholders.
In case OF the dissolution OF the corpora
ton. its affairs shall be lqudated by one
or more commissioners elected by the stock
holders. with such powers, oompensa;'ons'
and duties as the stockholders shall deter
mine. .
Article VII-No stockholder shall ever be
held liable for the faults or contracts OF
this corporation in any further sum than the
unpaid balance due 10 the corporation on
the shares subscribed by him: nor shall any
mere informality have the effect OF render
ing the charter null or OF exposing any
stockholder to any liability beyond the IN
paid balance due on his stock &c.,
The subscribers hereto have respectively
written opposite their names the amount oil
stock subscribed by them in this corPorauon'
so that this Act OF Incorporation may also
serve as the original Subscription List OF the
corporations; and they have stated their post.
office addresses SO as t5 conform with Act
267 OF 1914.
Thus done and passed in my office at the