The herald. [volume] (New Orleans, La.) 1905-1953, 1917-05-31

I
each. All shares of stock shall be full PAID
| and non-assessable. No transfer OF stock
! shall be binding upon the corporation I'm.
less made upon its books, and all certil'
J GERS as may be designated by the board Of
| directors.
| This corporation shall have the right to
| Increase its capital stock to the further sun
I OF one hundred thousand dollars, 10 be d..
\ vlded into shares Of nifty dollars each, pro
| Tided said increase in the capital stock
shall have bee authorized by the stock
| holders at meeting 20 be held pursuant
to the provisions Of Article Y Of this char.
| ter.
Article V-Al the corporate powers OF
| the company shall be vested in, and the
! management and control OF rs affairs shall
| be exercised by board Of directors com
| posed OF three stockholders, the members OF
| which may be increased 10 a number not
IeNceedlns nine by the board Of directors at
I any Of its regular meetings. majority OF
| the Transaction II all business. The dircc-
| tors shall be elected annually by ballot on
| the fifteenth day OF February in each year.
| Zach StockhOldcr shall be entitled in person
| or by proxy, to vote for every share owned
by him. and all elections shal! be held under
| such rules and regulations as may be de-
! ir-m'ned by the board Of directors, after
htteeu days notice by mail OF such eic-
| ton shall have been sent 10 each stock
holder At his last known address The direc-
! ,orS thus elected shall continue IN office
successors
! have ben duly elected and qualified No fail
! NE 20 elect shall be regarded as for:e!-
! tu-c or this charter. ANY vacancy occur
| rlng on SAID board shall be hlled by the
Temainng directors Toy the unexpsred term;
the said board shall likewise elect the add
tonaI members III case they should detr-
| mine 10 increase The number Of said board
SAID board OF directors shall. at ITS FIRST
meeting after its election, nominate out OF
ITS number a president and yIce-pres,den
| and secretary and i treasurer. SAID board
>hall have the right 10 appoint and j Sm IS
Nach clerks, managers and other employees
OF the corporation as conditions may Justify
or the business Of the corporation may re
quire. The tenure Of office OF all the en-
pioyeeS OF the corporation shall be during
/ the pleasure Of the board Of directors ANY
y the directors or ottcers shall have the
right TO appoint, by written instrument. an
other director or stakeholder 10 act as his
proxy. and IN his stead at any and all
meetings Of the board Of directors
Ar,lclc Vino stockholdcr shall ever be
he'd liable or responsible for the contracts
faults or debts oi said corporation. nor shall
any mere intO-nahty IN its organization
have The effect Of rendering this charter
null, or II exposing any stockho;ier 20 any
liability beyond the unpaid balance due on
the SharN owned by him
Article Nll.-Ihl, act OF Incorporation NAV
1c changed modiled or altered or this cor
porat1on may be dissolved. with the assent
~ the stockholders owning two-thirdS OF all
nc stock OF the corporation. az a general
meeting convened for that purpose, and after
at lcas; ten days written notice OF this
meeting has been given through nail ad.
dressed TO each Stockholde-. AT his last
known place Of residence. In case Of disso-
luton, by the expiration OF this charter
or otherwise, The stockholders shall elect
three lquidators from among their number,
70 liquldate and settle the business and az.
lars OF the company. In case Of death or
disability OF any one OF said commissioners
or lqu.datOrs. the survivors, or remaining
nqudatorS shall appoint a successor to him
The SAID liquidators shall have full power to
settle SAID oompanys debts. and divide the
remaining money and property among the
stockholders. They shall also have power
70 NEE: and act under the bylaws OF the
corporation and under regulations 10 be made
by majority Of said lquda;ors: to TX the
price and prescribe the terms OF sale of said
property, and the manner in which the sale
shall 5e made, and to take notes and bonds
secured by mortgage or otherwise, for part OF
the purchase price Tor all or any part Of said
property provided. however, that the rights
herein conferred upon the lquidators NAV
ne mod ned, changed denied by ma
JoTlty OF the shares OF the capital stock OF
the corporation. The said liquida,ors shall
have authority 70 sue for and recover the
debts and property IN the name of the cor
poration, and may be sued by the same name
and they shall be liable in soldo to any
creditor or stockholder for the monies and
property OF the corporation which shall come
into their hands or possession as lIquida,ors
and for the proper application and disiribu-
ton thereof
Article NIII.-James L. Dormon. l432 s..
Mary S., New Orleans, La. has subscribed
TO twenty-five shares; u. Gallery l21s Race
St, New Orleans. La, mas subscribed to
,wenty-six shares; s V Edmiston. POS
Palmer Ave, New Orleans. La 10 one share
Article IN.-Until the election 10 be held
on the fifteenth day of February, 1918 the
following shall constitute the FIRST board
Of directors, viz. James L. Dormon, D. CAT
fiery, s. V. Edmiston.
Thus done and passed al my notarial Of
nee, IN the city Of New Orleans, La, on the
day, month and year herein first above writ
ten. In the presence OF August H. Ritter and
BenJamln Norasca, competent Witnesses who
hercuntO sign their names together with the
said appears and me, notary after due read.
ing Of the whole.
Original Signed: James l. Dormon.
twenty-five shares; 5. '. Edmiston, one share;
DOnelSou Gallery, twcuty-six shares
Witnesses: A. II. Ritter, Benjamin No.
rasca.
J. NJ QUTNTERO. Notary Public.
|, the undersigned recorder OF mortgages,
IN and for the parish Of Orleans. State OF
Louis Iana. do hereby certify that the above
and foregoing Act OF Incorporation of the
St. Mary Farm Association Inc, was this
Folio $50
New Orleans, April II, 1917
lSigned1 EMILE J. LEONARD, D. R.
N. QUINTERo, Notary Public.
may J 10 II "A 81 june